HERO: 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.
HERO
Largest movements
- Tangible fixed assets -€234,222
down €234,222 (-4.7%), from €5.0m to €4.8m
- Cash -€171,879
down €171,879 (-67.6%), from €254,260 to €82,381
mainly Debts after one year (-€353,535) and Trade debts (-€64,889)
- Debts after one year -€353,535
down €353,535 (-8.7%), from €4.1m to €3.7m
- Trade debts -€64,889
down €64,889 (-64.2%), from €101,077 to €36,187
- Gross operating margin -€6,185
down €6,185 (-1.6%), from €376,794 to €370,608
- Financial charges -€5,753
down €5,753 (-7.5%), from €76,928 to €71,176
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 | €5,276,779 | €4,872,735 | -€404,044 | -7.7% |
| Fixed assets | 21/28 | €5,014,410 | €4,780,189 | -€234,222 | -4.7% |
| Tangible fixed assets | 22/27 | €5,014,410 | €4,780,189 | -€234,222 | -4.7% |
| Land and buildings | 22 | €5,014,410 | €4,780,189 | -€234,222 | -4.7% |
| Current assets | 29/58 | €262,368 | €92,546 | -€169,822 | -64.7% |
| Amounts receivable within one year | 40/41 | €1,990 | €2,788 | +€797 | +40.0% |
| Other amounts receivable | 41 | €1,990 | €2,788 | +€797 | +40.0% |
| Cash at bank and in hand | 54/58 | €254,260 | €82,381 | -€171,879 | -67.6% |
| Deferred charges and accrued income | 490/1 | €6,118 | €7,378 | +€1,260 | +20.6% |
| Total equity and liabilities | 10/49 | €5,276,779 | €4,872,735 | -€404,044 | -7.7% |
| Equity | 10/15 | €746,922 | €755,528 | +€8,607 | +1.2% |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Capital | 10 | €750,000 | €750,000 | = | 0.0% |
| Issued capital | 100 | €750,000 | €750,000 | = | 0.0% |
| Reserves | 13 | €5,741 | €5,741 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,741 | €5,741 | = | 0.0% |
| Legal reserve | 130 | €5,741 | €5,741 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,819 | -€213 | +€8,607 | +97.6% |
| Amounts payable | 17/49 | €4,529,857 | €4,117,207 | -€412,650 | -9.1% |
| Amounts payable after more than one year | 17 | €4,080,943 | €3,727,408 | -€353,535 | -8.7% |
| Financial debts | 170/4 | €4,080,943 | €3,727,408 | -€353,535 | -8.7% |
| Amounts payable within one year | 42/48 | €448,914 | €389,798 | -€59,116 | -13.2% |
| Financial debts | 43 | €347,761 | €353,535 | +€5,774 | +1.7% |
| Credit institutions | 430/8 | €347,761 | €353,535 | +€5,774 | +1.7% |
| Trade debts | 44 | €101,077 | €36,187 | -€64,889 | -64.2% |
| Suppliers | 440/4 | €101,077 | €36,187 | -€64,889 | -64.2% |
| Other amounts payable | 47/48 | €76 | €76 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €235,019 | €234,222 | -€798 | -0.3% |
| Other operating charges | 640/8 | €58,280 | €60,064 | +€1,784 | +3.1% |
| Gross operating margin | 9900 | €376,794 | €370,608 | -€6,185 | -1.6% |
| Operating profit (loss) | 9901 | €83,494 | €76,322 | -€7,172 | -8.6% |
| Financial income | 75/76B | €7,429 | €4,250 | -€3,180 | -42.8% |
| Recurring financial income | 75 | €7,429 | €4,250 | -€3,180 | -42.8% |
| Financial charges | 65/66B | €76,928 | €71,176 | -€5,753 | -7.5% |
| Recurring financial charges | 65 | €76,928 | €71,176 | -€5,753 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | €13,995 | €9,396 | -€4,599 | -32.9% |
| Income taxes | 67/77 | - | €790 | +€790 | |
| Profit (loss) for the period | 9904 | €13,995 | €8,607 | -€5,389 | -38.5% |
| Profit (loss) for the period to be appropriated | 9905 | €13,995 | €8,607 | -€5,389 | -38.5% |
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 23 October 2026 via checked.be.