Hermogène: what changed
Two financial 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.
What changed
Hermogène
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€905,685
2024 · €546,372+€359,313
Equity
€2.4m
2024 · €1.5m+€905,685
Cash
€81,341
2024 · €2,156+€79,185
Balance sheet total
€17.1m
2024 · €17.5m-€463,910
Largest movements
Assets
- Tangible fixed assets -€522,366
down €522,366 (-3.1%), from €16.9m to €16.4m
of which Land and buildings: -€426,775
Equity and liabilities
- Profit (loss) carried forward +€905,685
up €905,685 (+62.0%), from €1.5m to €2.4m
- Debts after one year -€857,642
down €857,642 (-6.2%), from €13.9m to €13.0m
- Other debts -€446,562
down €446,562 (-37.3%), from €1.2m to €750,003
Income statement
- Financial charges -€297,593
down €297,593 (-32.4%), from €919,496 to €621,903
- Gross operating margin +€46,264
up €46,264 (+1.8%), from €2.6m to €2.6m
- Depreciation -€36,618
down €36,618 (-4.4%), from €841,441 to €804,823
- Taxes +€26,906
up €26,906 (+11.6%), from €232,385 to €259,291
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.
Result 2024
€546,372
Gross operating margin
+€46,264
Depreciation
+€36,618
Other operating charges
-€1,736
Other operating items
+€16,044
Financial income
-€8,564
Financial charges
+€297,593
Taxes
-€26,906
Result 2025
€905,685
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
+€1.2m
Investment
-€282,219
Financing
-€857,642
Cash 2024
€2,156
From operations (derived)
+€1.2m
Net result for the year
+€905,685
Depreciation
+€804,823
Receivables within one year
+€33,464
Deferred charges and accrued income
-€12,973
Trade debts
-€69,421
Tax, wage and social debts
+€4,030
Other debts
-€446,562
Investment (derived)
-€282,219
Investment in fixed assets (net)
-€282,219
Financing
-€857,642
Debts after one year
-€857,642
Cash 2025
€81,341
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,519,069 | €17,055,159 | -€463,910 | -2.6% |
| Formation expenses | 20 | €238 | - | -€238 | |
| Fixed assets | 21/28 | €16,902,683 | €16,380,317 | -€522,366 | -3.1% |
| Tangible fixed assets | 22/27 | €16,902,683 | €16,380,317 | -€522,366 | -3.1% |
| Land and buildings | 22 | €16,799,257 | €16,372,482 | -€426,775 | -2.5% |
| Plant, machinery and equipment | 23 | €16,251 | €7,085 | -€9,166 | -56.4% |
| Furniture and vehicles | 24 | €187 | - | -€187 | |
| Assets under construction and advance payments | 27 | €86,988 | €750 | -€86,238 | -99.1% |
| Current assets | 29/58 | €616,148 | €674,842 | +€58,694 | +9.5% |
| Amounts receivable within one year | 40/41 | €613,992 | €580,528 | -€33,464 | -5.5% |
| Trade receivables | 40 | €2,046 | €486,698 | +€484,652 | +23,688% |
| Other amounts receivable | 41 | €611,946 | €93,830 | -€518,116 | -84.7% |
| Cash at bank and in hand | 54/58 | €2,156 | €81,341 | +€79,185 | +3,673% |
| Deferred charges and accrued income | 490/1 | - | €12,973 | +€12,973 | |
| Total equity and liabilities | 10/49 | €17,519,069 | €17,055,159 | -€463,910 | -2.6% |
| Equity | 10/15 | €1,518,167 | €2,423,852 | +€905,685 | +59.7% |
| Contributions | 10/11 | €45,227 | €45,227 | = | 0.0% |
| Reserves | 13 | €13,129 | €13,129 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,118 | €6,118 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,118 | €6,118 | = | 0.0% |
| Tax-exempt reserves | 132 | €452 | €452 | = | 0.0% |
| Distributable reserves | 133 | €6,559 | €6,559 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,459,811 | €2,365,496 | +€905,685 | +62.0% |
| Amounts payable | 17/49 | €16,000,902 | €14,631,307 | -€1.4m | -8.6% |
| Amounts payable after more than one year | 17 | €13,859,336 | €13,001,694 | -€857,642 | -6.2% |
| Financial debts | 170/4 | €13,859,336 | €13,001,694 | -€857,642 | -6.2% |
| Amounts payable within one year | 42/48 | €2,141,566 | €1,629,613 | -€511,953 | -23.9% |
| Current portion of amounts payable after more than one year | 42 | €857,641 | €857,641 | = | 0.0% |
| Trade debts | 44 | €87,360 | €17,939 | -€69,421 | -79.5% |
| Suppliers | 440/4 | €87,360 | €17,939 | -€69,421 | -79.5% |
| Taxes, remuneration and social security | 45 | - | €4,030 | +€4,030 | |
| Taxes | 450/3 | - | €4,030 | +€4,030 | |
| Other amounts payable | 47/48 | €1,196,565 | €750,003 | -€446,562 | -37.3% |
| Non-recurring operating income | 76A | €36,006 | - | -€36,006 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €841,441 | €804,823 | -€36,618 | -4.4% |
| Other operating charges | 640/8 | €52,802 | €54,538 | +€1,736 | +3.3% |
| Non-recurring operating charges | 66A | €16,044 | - | -€16,044 | |
| Gross operating margin | 9900 | €2,599,976 | €2,646,240 | +€46,264 | +1.8% |
| Operating profit (loss) | 9901 | €1,689,689 | €1,786,879 | +€97,190 | +5.8% |
| Financial income | 75/76B | €8,564 | - | -€8,564 | |
| Recurring financial income | 75 | €8,564 | - | -€8,564 | |
| Financial charges | 65/66B | €919,496 | €621,903 | -€297,593 | -32.4% |
| Recurring financial charges | 65 | €919,496 | €621,903 | -€297,593 | -32.4% |
| Profit (loss) for the period before taxes | 9903 | €778,757 | €1,164,976 | +€386,219 | +49.6% |
| Income taxes | 67/77 | €232,385 | €259,291 | +€26,906 | +11.6% |
| Profit (loss) for the period | 9904 | €546,372 | €905,685 | +€359,313 | +65.8% |
| Profit (loss) for the period to be appropriated | 9905 | €546,372 | €905,685 | +€359,313 | +65.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.