HERMINE: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
HERMINE
Largest movements
- Tangible fixed assets -€9,907
down €9,907 (-2.0%), from €491,893 to €481,985
of which Land and buildings: -€5,840
- Debts after one year -€53,725
down €53,725 (-16.0%), from €335,365 to €281,639
of which Other amounts payable: -€35,750
- Profit (loss) carried forward +€16,136
up €16,136, from -€15,744 to €392
- Other debts +€15,476
up €15,476 (+10.8%), from €142,898 to €158,374
- Reserves +€11,000
new in 2025: €11,000
- Gross operating margin +€2,589
up €2,589 (+4.2%), from €61,389 to €63,978
- Depreciation +€1,181
up €1,181 (+4.8%), from €24,819 to €26,000
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €493,627 | €483,593 | -€10,033 | -2.0% |
| Fixed assets | 21/28 | €491,893 | €481,985 | -€9,907 | -2.0% |
| Tangible fixed assets | 22/27 | €491,893 | €481,985 | -€9,907 | -2.0% |
| Land and buildings | 22 | €479,075 | €473,235 | -€5,840 | -1.2% |
| Furniture and vehicles | 24 | €12,818 | €8,751 | -€4,067 | -31.7% |
| Current assets | 29/58 | €1,734 | €1,608 | -€126 | -7.3% |
| Amounts receivable within one year | 40/41 | €571 | €38 | -€533 | -93.4% |
| Other amounts receivable | 41 | €571 | €38 | -€533 | -93.4% |
| Cash at bank and in hand | 54/58 | €215 | €616 | +€400 | +186.2% |
| Deferred charges and accrued income | 490/1 | €948 | €955 | +€6 | +0.7% |
| Total equity and liabilities | 10/49 | €493,627 | €483,593 | -€10,033 | -2.0% |
| Equity | 10/15 | -€10,744 | €16,392 | +€27,136 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €11,000 | +€11,000 | |
| Distributable reserves | 133 | - | €11,000 | +€11,000 | |
| Profit (loss) carried forward | 14 | -€15,744 | €392 | +€16,136 | |
| Amounts payable | 17/49 | €504,371 | €467,202 | -€37,169 | -7.4% |
| Amounts payable after more than one year | 17 | €335,365 | €281,639 | -€53,725 | -16.0% |
| Financial debts | 170/4 | €265,365 | €247,389 | -€17,975 | -6.8% |
| Other amounts payable | 178/9 | €70,000 | €34,250 | -€35,750 | -51.1% |
| Amounts payable within one year | 42/48 | €163,349 | €179,522 | +€16,173 | +9.9% |
| Current portion of amounts payable after more than one year | 42 | €17,456 | €17,975 | +€520 | +3.0% |
| Trade debts | 44 | €2,238 | €2,477 | +€238 | +10.6% |
| Suppliers | 440/4 | €2,238 | €2,477 | +€238 | +10.6% |
| Taxes, remuneration and social security | 45 | €757 | €696 | -€61 | -8.1% |
| Taxes | 450/3 | €757 | €696 | -€61 | -8.1% |
| Other amounts payable | 47/48 | €142,898 | €158,374 | +€15,476 | +10.8% |
| Accrued charges and deferred income | 492/3 | €5,657 | €6,040 | +€383 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,819 | €26,000 | +€1,181 | +4.8% |
| Other operating charges | 640/8 | €2,069 | €2,133 | +€63 | +3.1% |
| Gross operating margin | 9900 | €61,389 | €63,978 | +€2,589 | +4.2% |
| Operating profit (loss) | 9901 | €34,501 | €35,845 | +€1,344 | +3.9% |
| Financial income | 75/76B | €30 | €0 | -€30 | -100.0% |
| Recurring financial income | 75 | €30 | €0 | -€30 | -100.0% |
| Financial charges | 65/66B | €9,031 | €8,709 | -€322 | -3.6% |
| Recurring financial charges | 65 | €9,031 | €8,709 | -€322 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €25,499 | €27,136 | +€1,637 | +6.4% |
| Profit (loss) for the period | 9904 | €25,499 | €27,136 | +€1,637 | +6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €25,499 | €27,136 | +€1,637 | +6.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.