HERRANDOU: 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.
HERRANDOU
Largest movements
- Tangible fixed assets +€313,418
up €313,418 (+114%), from €275,172 to €588,590
of which Land and buildings: +€309,617
- Cash -€197,389
down €197,389 (-28.3%), from €697,273 to €499,884
mainly Investment in fixed assets (net) (-€400,275) and Receivables within one year (-€141,793)
- Receivables within one year +€141,793
up €141,793 (+20.8%), from €681,431 to €823,225
of which Other amounts receivable: +€239,037
- Deferred charges and accrued income -€26,475
down €26,475 (-22.4%), from €118,060 to €91,586
- Debts after one year +€286,879
up €286,879 (+387%), from €74,142 to €361,020
- Tax, wage and social debts -€88,817
down €88,817 (-96.2%), from €92,348 to €3,532
of which Taxes: -€92,317
- Reserves +€49,047
up €49,047 (+7.9%), from €617,519 to €666,566
of which Distributable reserves: +€65,700
- Accrued charges and deferred income -€24,109
down €24,109 (-79.4%), from €30,379 to €6,270
- Provisions +€175,000
no longer reported in 2025 (was -€175,000)
- Taxes -€103,988
down €103,988 (-79.0%), from €131,571 to €27,583
- Depreciation +€80,740
up €80,740 (+1,320%), from €6,117 to €86,858
- Gross operating margin -€26,388
down €26,388 (-12.9%), from €204,183 to €177,795
- Financial charges +€13,474
up €13,474 (+467%), from €2,886 to €16,360
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,772,004 | €2,003,351 | +€231,347 | +13.1% |
| Fixed assets | 21/28 | €275,239 | €588,657 | +€313,418 | +114% |
| Tangible fixed assets | 22/27 | €275,172 | €588,590 | +€313,418 | +114% |
| Land and buildings | 22 | €270,573 | €580,190 | +€309,617 | +114% |
| Plant, machinery and equipment | 23 | - | €4,503 | +€4,503 | |
| Furniture and vehicles | 24 | €4,599 | €3,898 | -€702 | -15.3% |
| Financial fixed assets | 28 | €67 | €67 | = | 0.0% |
| Current assets | 29/58 | €1,496,764 | €1,414,694 | -€82,071 | -5.5% |
| Amounts receivable within one year | 40/41 | €681,431 | €823,225 | +€141,793 | +20.8% |
| Trade receivables | 40 | €97,244 | - | -€97,244 | |
| Other amounts receivable | 41 | €584,188 | €823,225 | +€239,037 | +40.9% |
| Cash at bank and in hand | 54/58 | €697,273 | €499,884 | -€197,389 | -28.3% |
| Deferred charges and accrued income | 490/1 | €118,060 | €91,586 | -€26,475 | -22.4% |
| Total equity and liabilities | 10/49 | €1,772,004 | €2,003,351 | +€231,347 | +13.1% |
| Equity | 10/15 | €1,465,934 | €1,515,024 | +€49,090 | +3.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €617,519 | €666,566 | +€49,047 | +7.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €259,609 | €242,956 | -€16,653 | -6.4% |
| Distributable reserves | 133 | €356,050 | €421,750 | +€65,700 | +18.5% |
| Profit (loss) carried forward | 14 | €836,015 | €836,058 | +€43 | 0.0% |
| Provisions and deferred taxes | 16 | €79,972 | €75,808 | -€4,163 | -5.2% |
| Deferred taxes | 168 | €79,972 | €75,808 | -€4,163 | -5.2% |
| Amounts payable | 17/49 | €226,098 | €412,518 | +€186,420 | +82.5% |
| Amounts payable after more than one year | 17 | €74,142 | €361,020 | +€286,879 | +387% |
| Financial debts | 170/4 | €74,142 | €361,020 | +€286,879 | +387% |
| Amounts payable within one year | 42/48 | €121,577 | €45,227 | -€76,350 | -62.8% |
| Current portion of amounts payable after more than one year | 42 | €6,804 | €18,101 | +€11,297 | +166% |
| Trade debts | 44 | €22,425 | €23,595 | +€1,169 | +5.2% |
| Suppliers | 440/4 | €22,425 | €23,595 | +€1,169 | +5.2% |
| Taxes, remuneration and social security | 45 | €92,348 | €3,532 | -€88,817 | -96.2% |
| Taxes | 450/3 | €92,348 | €32 | -€92,317 | -100.0% |
| Remuneration and social security | 454/9 | - | €3,500 | +€3,500 | |
| Accrued charges and deferred income | 492/3 | €30,379 | €6,270 | -€24,109 | -79.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,117 | €86,858 | +€80,740 | +1,320% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€175,000 | - | +€175,000 | |
| Other operating charges | 640/8 | €3,854 | €11,044 | +€7,190 | +187% |
| Gross operating margin | 9900 | €204,183 | €177,795 | -€26,388 | -12.9% |
| Operating profit (loss) | 9901 | €369,211 | €79,893 | -€289,318 | -78.4% |
| Financial income | 75/76B | €3,930 | €8,977 | +€5,046 | +128% |
| Recurring financial income | 75 | €3,930 | €8,977 | +€5,046 | +128% |
| Financial charges | 65/66B | €2,886 | €16,360 | +€13,474 | +467% |
| Recurring financial charges | 65 | €2,886 | €16,360 | +€13,474 | +467% |
| Profit (loss) for the period before taxes | 9903 | €370,256 | €72,510 | -€297,745 | -80.4% |
| Transfer from deferred taxes | 780 | €306 | €4,163 | +€3,857 | +1,261% |
| Income taxes | 67/77 | €131,571 | €27,583 | -€103,988 | -79.0% |
| Profit (loss) for the period | 9904 | €238,991 | €49,090 | -€189,900 | -79.5% |
| Transfer from tax-exempt reserves | 789 | €1,223 | €16,653 | +€15,430 | +1,261% |
| Profit (loss) for the period to be appropriated | 9905 | €240,214 | €65,743 | -€174,471 | -72.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.