HEROLA: 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.
HEROLA
Largest movements
- Tangible fixed assets -€38,411
down €38,411 (-3.8%), from €1.0m to €985,078
of which Land and buildings: -€32,147
- Cash -€33,033
down €33,033 (-7.0%), from €473,789 to €440,756
mainly Other debts (-€52,375) and Tax, wage and social debts (-€42,037)
- Other debts -€52,375
down €52,375 (-7.2%), from €722,426 to €670,051
- Tax, wage and social debts -€42,037
down €42,037 (-97.0%), from €43,353 to €1,316
- Accrued charges and deferred income +€38,474
up €38,474 (+102.3%), from €37,620 to €76,094
- Taxes -€42,764
down €42,764 (-79.0%), from €54,131 to €11,367
- Gross operating margin -€27,072
down €27,072 (-23.4%), from €115,714 to €88,642
- Other operating charges +€1,422
up €1,422 (+13.0%), from €10,952 to €12,375
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,428,150 | €2,360,079 | -€68,071 | -2.8% |
| Fixed assets | 21/28 | €1,943,489 | €1,905,078 | -€38,411 | -2.0% |
| Tangible fixed assets | 22/27 | €1,023,489 | €985,078 | -€38,411 | -3.8% |
| Land and buildings | 22 | €1,009,139 | €976,992 | -€32,147 | -3.2% |
| Furniture and vehicles | 24 | €14,350 | €8,086 | -€6,264 | -43.7% |
| Financial fixed assets | 28 | €920,000 | €920,000 | = | 0.0% |
| Current assets | 29/58 | €484,661 | €455,001 | -€29,660 | -6.1% |
| Amounts receivable within one year | 40/41 | €9,606 | €8,412 | -€1,194 | -12.4% |
| Trade receivables | 40 | €9,606 | - | -€9,606 | |
| Other amounts receivable | 41 | - | €8,412 | +€8,412 | |
| Cash at bank and in hand | 54/58 | €473,789 | €440,756 | -€33,033 | -7.0% |
| Deferred charges and accrued income | 490/1 | €1,267 | €5,833 | +€4,567 | +360.5% |
| Total equity and liabilities | 10/49 | €2,428,150 | €2,360,079 | -€68,071 | -2.8% |
| Equity | 10/15 | €1,456,286 | €1,451,734 | -€4,552 | -0.3% |
| Contributions | 10/11 | €271,443 | €271,443 | = | 0.0% |
| Capital | 10 | €271,443 | €271,443 | = | 0.0% |
| Issued capital | 100 | €271,443 | €271,443 | = | 0.0% |
| Reserves | 13 | €1,184,843 | €1,180,291 | -€4,552 | -0.4% |
| Non-distributable reserves | 130/1 | €27,144 | €27,144 | = | 0.0% |
| Legal reserve | 130 | €27,144 | €27,144 | = | 0.0% |
| Tax-exempt reserves | 132 | €502,800 | €482,653 | -€20,147 | -4.0% |
| Distributable reserves | 133 | €654,899 | €670,494 | +€15,595 | +2.4% |
| Provisions and deferred taxes | 16 | €167,600 | €160,884 | -€6,716 | -4.0% |
| Deferred taxes | 168 | €167,600 | €160,884 | -€6,716 | -4.0% |
| Amounts payable | 17/49 | €804,265 | €747,461 | -€56,803 | -7.1% |
| Amounts payable within one year | 42/48 | €766,645 | €671,367 | -€95,277 | -12.4% |
| Trade debts | 44 | €866 | - | -€866 | |
| Suppliers | 440/4 | €866 | - | -€866 | |
| Taxes, remuneration and social security | 45 | €43,353 | €1,316 | -€42,037 | -97.0% |
| Taxes | 450/3 | €43,353 | €1,316 | -€42,037 | -97.0% |
| Other amounts payable | 47/48 | €722,426 | €670,051 | -€52,375 | -7.2% |
| Accrued charges and deferred income | 492/3 | €37,620 | €76,094 | +€38,474 | +102.3% |
| Non-recurring operating income | 76A | €5,072 | €3,677 | -€1,395 | -27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,411 | €38,411 | -€0 | 0.0% |
| Other operating charges | 640/8 | €10,952 | €12,375 | +€1,422 | +13.0% |
| Gross operating margin | 9900 | €115,714 | €88,642 | -€27,072 | -23.4% |
| Operating profit (loss) | 9901 | €66,351 | €37,856 | -€28,495 | -42.9% |
| Financial charges | 65/66B | €37,740 | €37,757 | +€17 | 0.0% |
| Recurring financial charges | 65 | €37,740 | €37,757 | +€17 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €28,611 | €99 | -€28,511 | -99.7% |
| Transfer from deferred taxes | 780 | €29,887 | €6,716 | -€23,171 | -77.5% |
| Income taxes | 67/77 | €54,131 | €11,367 | -€42,764 | -79.0% |
| Profit (loss) for the period | 9904 | €4,367 | -€4,552 | -€8,919 | |
| Transfer from tax-exempt reserves | 789 | €89,660 | €20,147 | -€69,513 | -77.5% |
| Profit (loss) for the period to be appropriated | 9905 | €94,027 | €15,595 | -€78,432 | -83.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.