Herpo: 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.
Herpo
Largest movements
- Receivables within one year +€38,057
up €38,057 (+4.5%), from €846,652 to €884,709
- Cash -€21,855
down €21,855 (-41.2%), from €53,067 to €31,212
mainly Receivables within one year (-€38,057) and Contributions, distributions and other (-€6,292)
- Tax, wage and social debts +€12,044
new in 2025: €12,044
- Taxes +€5,753
new in 2025: €5,753
- Gross operating margin -€1,119
down €1,119 (-3.6%), from €31,384 to €30,265
- Depreciation +€378
up €378 (+6.9%), from €5,499 to €5,877
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 | €943,842 | €961,105 | +€17,263 | +1.8% |
| Fixed assets | 21/28 | €44,046 | €42,157 | -€1,889 | -4.3% |
| Tangible fixed assets | 22/27 | €44,046 | €42,157 | -€1,889 | -4.3% |
| Land and buildings | 22 | €44,046 | €42,157 | -€1,889 | -4.3% |
| Current assets | 29/58 | €899,796 | €918,947 | +€19,152 | +2.1% |
| Amounts receivable within one year | 40/41 | €846,652 | €884,709 | +€38,057 | +4.5% |
| Other amounts receivable | 41 | €846,652 | €884,709 | +€38,057 | +4.5% |
| Cash at bank and in hand | 54/58 | €53,067 | €31,212 | -€21,855 | -41.2% |
| Deferred charges and accrued income | 490/1 | €77 | €3,026 | +€2,949 | +3820.2% |
| Total equity and liabilities | 10/49 | €943,842 | €961,105 | +€17,263 | +1.8% |
| Equity | 10/15 | €938,869 | €948,380 | +€9,511 | +1.0% |
| Contributions | 10/11 | €209,728 | €209,728 | = | 0.0% |
| Capital | 10 | €209,728 | €209,728 | = | 0.0% |
| Issued capital | 100 | €209,728 | €209,728 | = | 0.0% |
| Reserves | 13 | €729,141 | €738,652 | +€9,511 | +1.3% |
| Non-distributable reserves | 130/1 | €20,973 | €20,973 | = | 0.0% |
| Legal reserve | 130 | €20,973 | €20,973 | = | 0.0% |
| Distributable reserves | 133 | €708,168 | €717,680 | +€9,511 | +1.3% |
| Amounts payable | 17/49 | €4,973 | €12,725 | +€7,752 | +155.9% |
| Amounts payable within one year | 42/48 | €4,973 | €12,725 | +€7,752 | +155.9% |
| Trade debts | 44 | €295 | €681 | +€385 | +130.4% |
| Suppliers | 440/4 | €295 | €681 | +€385 | +130.4% |
| Taxes, remuneration and social security | 45 | - | €12,044 | +€12,044 | |
| Taxes | 450/3 | - | €12,044 | +€12,044 | |
| Other amounts payable | 47/48 | €4,678 | - | -€4,678 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,499 | €5,877 | +€378 | +6.9% |
| Other operating charges | 640/8 | €2,647 | €2,729 | +€81 | +3.1% |
| Gross operating margin | 9900 | €31,384 | €30,265 | -€1,119 | -3.6% |
| Operating profit (loss) | 9901 | €23,238 | €21,660 | -€1,578 | -6.8% |
| Financial charges | 65/66B | €150 | €104 | -€45 | -30.3% |
| Recurring financial charges | 65 | €150 | €104 | -€45 | -30.3% |
| Profit (loss) for the period before taxes | 9903 | €23,088 | €21,555 | -€1,533 | -6.6% |
| Income taxes | 67/77 | - | €5,753 | +€5,753 | |
| Profit (loss) for the period | 9904 | €23,088 | €15,803 | -€7,285 | -31.6% |
| Profit (loss) for the period to be appropriated | 9905 | €23,088 | €15,803 | -€7,285 | -31.6% |
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 9 October 2026 via checked.be.