HERMOYE LAW: 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.
HERMOYE LAW
Largest movements
- Receivables within one year +€155,011
up €155,011 (+518%), from €29,899 to €184,910
of which Trade receivables: +€140,608
- Cash +€26,720
up €26,720, from €0 to €26,720
mainly Net result for the year (+€125,762) and Other debts (+€113,150)
- Tangible fixed assets +€5,841
up €5,841 (+386%), from €1,515 to €7,356
of which Furniture and vehicles: +€6,065
- Other debts +€113,150
up €113,150 (+666%), from €17,000 to €130,150
- Tax, wage and social debts +€80,205
up €80,205 (+5,850%), from €1,371 to €81,576
of which Taxes: +€77,205
- Profit (loss) carried forward +€29,762
up €29,762, from -€28,924 to €838
- Reserves -€23,000
no longer reported in 2025 (was €23,000)
- Trade debts -€8,923
down €8,923 (-59.5%), from €15,008 to €6,085
- Gross operating margin +€153,869
up €153,869 (+1,527%), from €10,074 to €163,943
- Taxes +€35,113
up €35,113 (+13,833%), from €254 to €35,367
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €34,278 | €221,149 | +€186,871 | +545% |
| Fixed assets | 21/28 | €4,378 | €9,519 | +€5,141 | +117% |
| Intangible fixed assets | 21 | €2,863 | €2,163 | -€700 | -24.4% |
| Tangible fixed assets | 22/27 | €1,515 | €7,356 | +€5,841 | +386% |
| Furniture and vehicles | 24 | - | €6,065 | +€6,065 | |
| Other tangible fixed assets | 26 | €1,515 | €1,291 | -€224 | -14.8% |
| Current assets | 29/58 | €29,899 | €211,630 | +€181,731 | +608% |
| Amounts receivable within one year | 40/41 | €29,899 | €184,910 | +€155,011 | +518% |
| Trade receivables | 40 | €15,816 | €156,423 | +€140,608 | +889% |
| Other amounts receivable | 41 | €14,084 | €28,486 | +€14,403 | +102% |
| Cash at bank and in hand | 54/58 | €0 | €26,720 | +€26,720 | |
| Total equity and liabilities | 10/49 | €34,278 | €221,149 | +€186,871 | +545% |
| Equity | 10/15 | -€3,424 | €3,338 | +€6,762 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €23,000 | - | -€23,000 | |
| Distributable reserves | 133 | €23,000 | - | -€23,000 | |
| Profit (loss) carried forward | 14 | -€28,924 | €838 | +€29,762 | |
| Amounts payable | 17/49 | €37,702 | €217,811 | +€180,109 | +478% |
| Amounts payable within one year | 42/48 | €37,702 | €217,811 | +€180,109 | +478% |
| Financial debts | 43 | €4,323 | - | -€4,323 | |
| Credit institutions | 430/8 | €4,323 | - | -€4,323 | |
| Trade debts | 44 | €15,008 | €6,085 | -€8,923 | -59.5% |
| Suppliers | 440/4 | €15,008 | €6,085 | -€8,923 | -59.5% |
| Taxes, remuneration and social security | 45 | €1,371 | €81,576 | +€80,205 | +5,850% |
| Taxes | 450/3 | €1,371 | €78,576 | +€77,205 | +5,631% |
| Remuneration and social security | 454/9 | €0 | €3,000 | +€3,000 | |
| Other amounts payable | 47/48 | €17,000 | €130,150 | +€113,150 | +666% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €861 | €1,502 | +€641 | +74.5% |
| Other operating charges | 640/8 | €590 | €463 | -€126 | -21.5% |
| Gross operating margin | 9900 | €10,074 | €163,943 | +€153,869 | +1,527% |
| Operating profit (loss) | 9901 | €8,623 | €161,978 | +€153,354 | +1,778% |
| Financial income | 75/76B | €7 | €308 | +€301 | +4,438% |
| Recurring financial income | 75 | €7 | €308 | +€301 | +4,438% |
| Financial charges | 65/66B | €943 | €1,156 | +€214 | +22.7% |
| Recurring financial charges | 65 | €943 | €1,156 | +€214 | +22.7% |
| Profit (loss) for the period before taxes | 9903 | €7,687 | €161,130 | +€153,442 | +1,996% |
| Income taxes | 67/77 | €254 | €35,367 | +€35,113 | +13,833% |
| Profit (loss) for the period | 9904 | €7,434 | €125,762 | +€118,329 | +1,592% |
| Profit (loss) for the period to be appropriated | 9905 | €7,434 | €125,762 | +€118,329 | +1,592% |
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 29 October 2026 via checked.be.