HERO CONSTRUCT: 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
HERO CONSTRUCT
NACE 41.001, General construction of residential buildings
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€78,862
2024 · €1,644+€77,218
Equity
€2.5m
2024 · €2.4m+€78,862
Cash
€1.1m
2024 · €434,737+€671,289
Balance sheet total
€8.7m
2024 · €6.7m+€2.0m
Largest movements
Assets
- Receivables within one year +€1.2m
up €1.2m (+45.3%), from €2.7m to €3.9m
of which Trade receivables: +€1.1m
- Stocks and contracts +€682,590
up €682,590 (+26.4%), from €2.6m to €3.3m
of which Contracts in progress: +€448,451
- Cash +€671,289
up €671,289 (+154%), from €434,737 to €1.1m
mainly Trade debts (+€2.2m) and Current investments (+€500,000)
- Current investments -€500,000
down €500,000 (-100%), from €500,000 to €0
Equity and liabilities
- Trade debts +€2.2m
up €2.2m (+166%), from €1.3m to €3.5m
- Advances received -€692,814
down €692,814 (-31.4%), from €2.2m to €1.5m
- Short-term financial debts +€250,000
new in 2025: €250,000
- Tax, wage and social debts +€247,735
up €247,735 (+114%), from €217,010 to €464,746
of which Taxes: +€198,013
Income statement
- Turnover +€6.5m
up €6.5m (+39.4%), from €16.4m to €22.9m
- Goods and materials +€2.8m
up €2.8m (+19.6%), from €14.1m to €16.9m
of which Purchases: +€1.6m
- Services and other goods +€336,063
up €336,063 (+24.6%), from €1.4m to €1.7m
- Write-downs -€306,915
down €306,915, from €66,223 to -€240,692
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
€1,644
Turnover
+€6.5m
Other operating income
+€126,908
Goods and materials
-€2.8m
Services and other goods
-€336,063
Staff costs
-€159,657
Depreciation
+€39,095
Write-downs
+€306,915
Other operating charges
-€113,110
Other operating items
-€3.4m
Financial income
-€58,250
Financial charges
-€10,960
Taxes
-€31,442
Result 2025
€78,862
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
+€95,294
Investment
+€368,564
Financing
+€207,431
Cash 2024
€434,737
From operations (derived)
+€95,294
Net result for the year
+€78,862
Depreciation
+€150,972
Stocks and contracts
-€682,590
Receivables within one year
-€1.2m
Deferred charges and accrued income
+€31,853
Trade debts
+€2.2m
Tax, wage and social debts
+€247,735
Advances received
-€692,814
Other debts
+€4,277
Accrued charges and deferred income
-€22,617
Investment (derived)
+€368,564
Investment in fixed assets (net)
-€131,436
Current investments
+€500,000
Financing
+€207,431
Debts after one year
-€36,359
Current portion of long-term debt
-€6,210
Short-term financial debts
+€250,000
Cash 2025
€1.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,697,039 | €8,714,629 | +€2.0m | +30.1% |
| Fixed assets | 21/28 | €441,071 | €421,534 | -€19,537 | -4.4% |
| Tangible fixed assets | 22/27 | €375,341 | €355,804 | -€19,537 | -5.2% |
| Plant, machinery and equipment | 23 | €167,426 | €162,837 | -€4,590 | -2.7% |
| Furniture and vehicles | 24 | €71,578 | €60,369 | -€11,209 | -15.7% |
| Leasing and similar rights | 25 | €136,337 | €132,599 | -€3,738 | -2.7% |
| Financial fixed assets | 28 | €65,730 | €65,730 | = | 0.0% |
| Other financial fixed assets | 284/8 | €65,730 | €65,730 | = | 0.0% |
| Shares | 284 | €5,975 | €5,975 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €59,755 | €59,755 | = | 0.0% |
| Current assets | 29/58 | €6,255,968 | €8,293,095 | +€2.0m | +32.6% |
| Stocks and contracts in progress | 3 | €2,586,751 | €3,269,341 | +€682,590 | +26.4% |
| Stocks | 30/36 | €2,432,384 | €2,666,523 | +€234,140 | +9.6% |
| Raw materials and consumables | 30/31 | €27,127 | €27,127 | = | 0.0% |
| Property held for sale | 35 | €2,405,256 | €2,639,396 | +€234,140 | +9.7% |
| Contracts in progress | 37 | €154,367 | €602,818 | +€448,451 | +291% |
| Amounts receivable within one year | 40/41 | €2,680,681 | €3,895,781 | +€1.2m | +45.3% |
| Trade receivables | 40 | €2,425,494 | €3,569,661 | +€1.1m | +47.2% |
| Other amounts receivable | 41 | €255,187 | €326,121 | +€70,933 | +27.8% |
| Current investments | 50/53 | €500,000 | €0 | -€500,000 | -100% |
| Other investments | 51/53 | €500,000 | €0 | -€500,000 | -100% |
| Cash at bank and in hand | 54/58 | €434,737 | €1,106,026 | +€671,289 | +154% |
| Deferred charges and accrued income | 490/1 | €53,799 | €21,947 | -€31,853 | -59.2% |
| Total equity and liabilities | 10/49 | €6,697,039 | €8,714,629 | +€2.0m | +30.1% |
| Equity | 10/15 | €2,395,698 | €2,474,559 | +€78,862 | +3.3% |
| Contributions | 10/11 | €133,929 | €133,929 | = | 0.0% |
| Capital | 10 | €133,929 | €133,929 | = | 0.0% |
| Issued capital | 100 | €133,929 | €133,929 | = | 0.0% |
| Reserves | 13 | €505,607 | €505,607 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,382 | €16,382 | = | 0.0% |
| Legal reserve | 130 | €16,382 | €16,382 | = | 0.0% |
| Tax-exempt reserves | 132 | €421,000 | €421,000 | = | 0.0% |
| Distributable reserves | 133 | €68,225 | €68,225 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,756,162 | €1,835,024 | +€78,862 | +4.5% |
| Amounts payable | 17/49 | €4,301,341 | €6,240,070 | +€1.9m | +45.1% |
| Amounts payable after more than one year | 17 | €162,934 | €126,575 | -€36,359 | -22.3% |
| Financial debts | 170/4 | €162,934 | €126,575 | -€36,359 | -22.3% |
| Leasing and similar obligations | 172 | €95,915 | €95,963 | +€48 | +0.1% |
| Credit institutions | 173 | €67,019 | €30,612 | -€36,407 | -54.3% |
| Amounts payable within one year | 42/48 | €4,109,524 | €6,107,229 | +€2.0m | +48.6% |
| Current portion of amounts payable after more than one year | 42 | €80,805 | €74,595 | -€6,210 | -7.7% |
| Financial debts | 43 | - | €250,000 | +€250,000 | |
| Credit institutions | 430/8 | - | €250,000 | +€250,000 | |
| Trade debts | 44 | €1,325,483 | €3,520,200 | +€2.2m | +166% |
| Suppliers | 440/4 | €1,325,483 | €3,520,200 | +€2.2m | +166% |
| Advances received on contracts in progress | 46 | €2,207,377 | €1,514,562 | -€692,814 | -31.4% |
| Taxes, remuneration and social security | 45 | €217,010 | €464,746 | +€247,735 | +114% |
| Taxes | 450/3 | €23,620 | €221,633 | +€198,013 | +838% |
| Remuneration and social security | 454/9 | €193,391 | €243,113 | +€49,722 | +25.7% |
| Other amounts payable | 47/48 | €278,849 | €283,125 | +€4,277 | +1.5% |
| Accrued charges and deferred income | 492/3 | €28,883 | €6,266 | -€22,617 | -78.3% |
| Operating income | 70/76A | €18,365,808 | €21,582,354 | +€3.2m | +17.5% |
| Turnover | 70 | €16,409,188 | €22,868,051 | +€6.5m | +39.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €1,863,596 | -€1,521,540 | -€3.4m | |
| Other operating income | 74 | €84,247 | €211,155 | +€126,908 | +151% |
| Non-recurring operating income | 76A | €8,777 | €24,688 | +€15,911 | +181% |
| Operating charges | 60/66A | €18,424,188 | €21,462,863 | +€3.0m | +16.5% |
| Goods for resale, raw materials and consumables | 60 | €14,123,016 | €16,887,201 | +€2.8m | +19.6% |
| Purchases | 600/8 | €15,505,241 | €17,121,340 | +€1.6m | +10.4% |
| Change in stocks: decrease (increase) | 609 | -€1,382,225 | -€234,140 | +€1.1m | +83.1% |
| Services and other goods | 61 | €1,363,738 | €1,699,801 | +€336,063 | +24.6% |
| Remuneration, social security and pensions | 62 | €2,667,898 | €2,827,555 | +€159,657 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €190,067 | €150,972 | -€39,095 | -20.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €66,223 | -€240,692 | -€306,915 | |
| Other operating charges | 640/8 | €13,245 | €126,355 | +€113,110 | +854% |
| Non-recurring operating charges | 66A | - | €11,671 | +€11,671 | |
| Operating profit (loss) | 9901 | -€58,379 | €119,491 | +€177,870 | |
| Financial income | 75/76B | €133,333 | €75,083 | -€58,250 | -43.7% |
| Recurring financial income | 75 | €133,333 | €75,083 | -€58,250 | -43.7% |
| Income from current assets | 751 | €59,373 | €12,854 | -€46,519 | -78.4% |
| Other financial income | 752/9 | €73,959 | €62,229 | -€11,731 | -15.9% |
| Financial charges | 65/66B | €54,709 | €65,669 | +€10,960 | +20.0% |
| Recurring financial charges | 65 | €54,709 | €65,669 | +€10,960 | +20.0% |
| Debt charges | 650 | €44,890 | €53,986 | +€9,096 | +20.3% |
| Other financial charges | 652/9 | €9,819 | €11,683 | +€1,865 | +19.0% |
| Profit (loss) for the period before taxes | 9903 | €20,244 | €128,905 | +€108,660 | +537% |
| Income taxes | 67/77 | €18,601 | €50,043 | +€31,442 | +169% |
| Taxes | 670/3 | €18,601 | €50,043 | +€31,442 | +169% |
| Profit (loss) for the period | 9904 | €1,644 | €78,862 | +€77,218 | +4,698% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €1,644 | €78,862 | +€77,218 | +4,698% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.