HERO Consult: 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 Consult
Largest movements
- Tangible fixed assets +€379,211
up €379,211 (+94.0%), from €403,589 to €782,800
of which Land and buildings: +€382,584
- Cash -€250,444
down €250,444 (-67.2%), from €372,462 to €122,019
mainly Contributions, distributions and other (-€621,571) and Investment in fixed assets (net) (-€436,116)
- Receivables within one year +€164,652
up €164,652 (+85.9%), from €191,784 to €356,436
of which Trade receivables: +€116,720
- Stocks and contracts -€142,063
down €142,063 (-45.1%), from €314,878 to €172,815
- Other debts +€532,435
up €532,435 (+341.3%), from €155,981 to €688,416
- Reserves -€500,352
down €500,352 (-71.4%), from €700,327 to €199,975
of which Distributable reserves: -€500,352
- Debts after one year +€212,370
up €212,370 (+75.9%), from €279,914 to €492,284
- Trade debts -€113,063
down €113,063 (-94.4%), from €119,782 to €6,719
- Current portion of long-term debt +€15,018
up €15,018 (+84.3%), from €17,818 to €32,836
- Gross operating margin -€270,803
down €270,803 (-47.9%), from €564,913 to €294,110
- Taxes -€69,821
down €69,821 (-66.7%), from €104,711 to €34,890
- Financial charges +€15,290
up €15,290 (+86.1%), from €17,767 to €33,058
- Depreciation -€6,348
down €6,348 (-10.0%), from €63,253 to €56,905
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 | €1,299,874 | €1,451,382 | +€151,508 | +11.7% |
| Fixed assets | 21/28 | €403,689 | €782,900 | +€379,211 | +93.9% |
| Tangible fixed assets | 22/27 | €403,589 | €782,800 | +€379,211 | +94.0% |
| Land and buildings | 22 | €353,776 | €736,360 | +€382,584 | +108.1% |
| Plant, machinery and equipment | 23 | €42,065 | €5,382 | -€36,683 | -87.2% |
| Furniture and vehicles | 24 | €7,748 | €41,059 | +€33,311 | +429.9% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €896,185 | €668,482 | -€227,704 | -25.4% |
| Stocks and contracts in progress | 3 | €314,878 | €172,815 | -€142,063 | -45.1% |
| Stocks | 30/36 | €314,878 | €172,815 | -€142,063 | -45.1% |
| Amounts receivable within one year | 40/41 | €191,784 | €356,436 | +€164,652 | +85.9% |
| Trade receivables | 40 | €101,869 | €218,590 | +€116,720 | +114.6% |
| Other amounts receivable | 41 | €89,915 | €137,846 | +€47,932 | +53.3% |
| Cash at bank and in hand | 54/58 | €372,462 | €122,019 | -€250,444 | -67.2% |
| Deferred charges and accrued income | 490/1 | €17,061 | €17,212 | +€151 | +0.9% |
| Total equity and liabilities | 10/49 | €1,299,874 | €1,451,382 | +€151,508 | +11.7% |
| Equity | 10/15 | €703,327 | €202,975 | -€500,352 | -71.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €700,327 | €199,975 | -€500,352 | -71.4% |
| Tax-exempt reserves | 132 | €199,975 | €199,975 | = | 0.0% |
| Distributable reserves | 133 | €500,352 | €0 | -€500,352 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €596,547 | €1,248,407 | +€651,860 | +109.3% |
| Amounts payable after more than one year | 17 | €279,914 | €492,284 | +€212,370 | +75.9% |
| Financial debts | 170/4 | €279,914 | €492,284 | +€212,370 | +75.9% |
| Amounts payable within one year | 42/48 | €316,633 | €756,123 | +€439,490 | +138.8% |
| Current portion of amounts payable after more than one year | 42 | €17,818 | €32,836 | +€15,018 | +84.3% |
| Trade debts | 44 | €119,782 | €6,719 | -€113,063 | -94.4% |
| Suppliers | 440/4 | €119,782 | €6,719 | -€113,063 | -94.4% |
| Taxes, remuneration and social security | 45 | €23,052 | €28,152 | +€5,100 | +22.1% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €23,052 | €28,152 | +€5,100 | +22.1% |
| Other amounts payable | 47/48 | €155,981 | €688,416 | +€532,435 | +341.3% |
| Non-recurring operating income | 76A | €89,961 | €39,352 | -€50,609 | -56.3% |
| Remuneration, social security and pensions | 62 | €46,031 | €51,194 | +€5,163 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,253 | €56,905 | -€6,348 | -10.0% |
| Other operating charges | 640/8 | €5,193 | €2,001 | -€3,192 | -61.5% |
| Gross operating margin | 9900 | €564,913 | €294,110 | -€270,803 | -47.9% |
| Operating profit (loss) | 9901 | €450,436 | €184,011 | -€266,426 | -59.1% |
| Financial income | 75/76B | €6,127 | €5,156 | -€971 | -15.8% |
| Recurring financial income | 75 | €6,127 | €5,156 | -€971 | -15.8% |
| Financial charges | 65/66B | €17,767 | €33,058 | +€15,290 | +86.1% |
| Recurring financial charges | 65 | €17,767 | €33,058 | +€15,290 | +86.1% |
| Profit (loss) for the period before taxes | 9903 | €438,796 | €156,109 | -€282,687 | -64.4% |
| Income taxes | 67/77 | €104,711 | €34,890 | -€69,821 | -66.7% |
| Profit (loss) for the period | 9904 | €334,085 | €121,218 | -€212,866 | -63.7% |
| Transfer to tax-exempt reserves | 689 | €105,250 | €0 | -€105,250 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €228,835 | €121,218 | -€107,616 | -47.0% |
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 11 October 2026 via checked.be.