HEROS HOLDING: 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
HEROS HOLDING
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€275,271
2024 · €127,782+€147,489
Equity
€21.4m
2024 · €21.1m+€275,271
Cash
€740,902
2024 · €24,563+€716,339
Balance sheet total
€21.5m
2024 · €21.2m+€372,379
Largest movements
Assets
- Receivables after one year -€1.4m
down €1.4m (-9.9%), from €14.0m to €12.6m
- Financial fixed assets +€949,539
up €949,539 (+13.5%), from €7.1m to €8.0m
- Cash +€716,339
up €716,339 (+2,916%), from €24,563 to €740,902
mainly Receivables after one year (+€1.4m) and Net result for the year (+€275,271)
Equity and liabilities
- Reserves +€275,271
up €275,271 (+39.7%), from €693,028 to €968,299
of which Distributable reserves: +€275,271
Income statement
- Services and other goods +€370,201
new in 2025: €370,201
- Turnover +€343,500
new in 2025: €343,500
- Financial charges -€146,445
down €146,445 (-99.4%), from €147,292 to €847
- Other operating income +€106,649
new in 2025: €106,649
- Depreciation +€61,271
new in 2025: €61,271
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
€127,782
Turnover
+€343,500
Other operating income
+€106,649
Services and other goods
-€370,201
Staff costs
-€2,157
Depreciation
-€61,271
Other operating charges
-€978
Other operating items
-€13,068
Financial income
+€31,136
Financial charges
+€146,445
Taxes
-€32,567
Result 2025
€275,271
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
+€1.7m
Investment
-€1.0m
Financing
€0
Cash 2024
€24,563
From operations (derived)
+€1.7m
Net result for the year
+€275,271
Depreciation
+€61,271
Receivables after one year
+€1.4m
Receivables within one year
-€90,290
Smaller working-capital items
-€1,113
Trade debts
+€96,630
Investment (derived)
-€1.0m
Investment in fixed assets (net)
-€1.0m
Cash 2025
€740,902
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,163,567 | €21,535,946 | +€372,379 | +1.8% |
| Fixed assets | 21/28 | €7,058,030 | €8,007,569 | +€949,539 | +13.5% |
| Financial fixed assets | 28 | €7,058,030 | €8,007,569 | +€949,539 | +13.5% |
| Affiliated companies | 280/1 | - | €8,007,569 | +€8.0m | |
| Participating interests | 280 | - | €8,007,569 | +€8.0m | |
| Current assets | 29/58 | €14,105,537 | €13,528,377 | -€577,159 | -4.1% |
| Amounts receivable after more than one year | 29 | €14,000,000 | €12,614,620 | -€1.4m | -9.9% |
| Other amounts receivable | 291 | €14,000,000 | €12,614,620 | -€1.4m | -9.9% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €80,974 | €171,264 | +€90,290 | +112% |
| Trade receivables | 40 | €57,346 | €146,581 | +€89,234 | +156% |
| Other amounts receivable | 41 | €23,628 | €24,683 | +€1,056 | +4.5% |
| Cash at bank and in hand | 54/58 | €24,563 | €740,902 | +€716,339 | +2,916% |
| Deferred charges and accrued income | 490/1 | - | €1,592 | +€1,592 | |
| Total equity and liabilities | 10/49 | €21,163,567 | €21,535,946 | +€372,379 | +1.8% |
| Equity | 10/15 | €21,131,359 | €21,406,630 | +€275,271 | +1.3% |
| Contributions | 10/11 | €20,438,331 | €20,438,331 | = | 0.0% |
| Capital | 10 | €301,000 | €301,000 | = | 0.0% |
| Issued capital | 100 | €301,000 | €301,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,137,331 | €20,137,331 | = | 0.0% |
| Share premium | 1100/10 | €20,137,331 | €20,137,331 | = | 0.0% |
| Reserves | 13 | €693,028 | €968,299 | +€275,271 | +39.7% |
| Non-distributable reserves | 130/1 | €30,100 | €30,100 | = | 0.0% |
| Legal reserve | 130 | €30,100 | €30,100 | = | 0.0% |
| Distributable reserves | 133 | €662,928 | €938,199 | +€275,271 | +41.5% |
| Amounts payable | 17/49 | €32,208 | €129,316 | +€97,108 | +302% |
| Amounts payable within one year | 42/48 | €32,208 | €129,316 | +€97,108 | +302% |
| Trade debts | 44 | €18,691 | €115,321 | +€96,630 | +517% |
| Suppliers | 440/4 | €18,691 | €115,321 | +€96,630 | +517% |
| Taxes, remuneration and social security | 45 | €13,517 | €13,995 | +€479 | +3.5% |
| Remuneration and social security | 454/9 | €13,517 | €13,995 | +€479 | +3.5% |
| Operating income | 70/76A | - | €450,149 | +€450,149 | |
| Turnover | 70 | - | €343,500 | +€343,500 | |
| Other operating income | 74 | - | €106,649 | +€106,649 | |
| Operating charges | 60/66A | - | €514,956 | +€514,956 | |
| Services and other goods | 61 | - | €370,201 | +€370,201 | |
| Remuneration, social security and pensions | 62 | €78,543 | €80,699 | +€2,157 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €61,271 | +€61,271 | |
| Other operating charges | 640/8 | €1,806 | €2,784 | +€978 | +54.1% |
| Gross operating margin | 9900 | €13,068 | - | -€13,068 | |
| Operating profit (loss) | 9901 | -€67,281 | -€64,807 | +€2,474 | +3.7% |
| Financial income | 75/76B | €385,389 | €416,525 | +€31,136 | +8.1% |
| Recurring financial income | 75 | €385,389 | €372,566 | -€12,822 | -3.3% |
| Income from current assets | 751 | - | €372,566 | +€372,566 | |
| Non-recurring financial income | 76B | - | €43,959 | +€43,959 | |
| Financial charges | 65/66B | €147,292 | €847 | -€146,445 | -99.4% |
| Recurring financial charges | 65 | €147,292 | €847 | -€146,445 | -99.4% |
| Debt charges | 650 | - | €0 | = | |
| Other financial charges | 652/9 | - | €847 | +€847 | |
| Profit (loss) for the period before taxes | 9903 | €170,815 | €350,871 | +€180,056 | +105% |
| Income taxes | 67/77 | €43,033 | €75,600 | +€32,567 | +75.7% |
| Taxes | 670/3 | - | €75,600 | +€75,600 | |
| Profit (loss) for the period | 9904 | €127,782 | €275,271 | +€147,489 | +115% |
| Profit (loss) for the period to be appropriated | 9905 | €127,782 | €275,271 | +€147,489 | +115% |
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 24 October 2026 via checked.be.