Herrebaut Luc: 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.
Herrebaut Luc
Largest movements
- Receivables within one year -€21,588
down €21,588 (-81.9%), from €26,349 to €4,762
of which Trade receivables: -€26,341
- Cash -€20,039
down €20,039 (-6.2%), from €325,153 to €305,114
mainly Tax, wage and social debts (-€37,546) and Current portion of long-term debt (-€8,887)
- Tangible fixed assets -€13,529
down €13,529 (-58.4%), from €23,176 to €9,647
of which Furniture and vehicles: -€14,409
- Tax, wage and social debts -€37,546
no longer reported in 2025 (was €37,546)
of which Taxes: -€31,546
- Current portion of long-term debt -€8,887
no longer reported in 2025 (was €8,887)
- Short-term financial debts -€4,730
no longer reported in 2025 (was €4,730)
- Profit (loss) carried forward -€4,314
new in 2025: -€4,314
- Gross operating margin -€116,156
down €116,156 (-90.5%), from €128,328 to €12,172
- Taxes -€37,314
down €37,314 (-96.8%), from €38,553 to €1,238
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 | €376,315 | €320,867 | -€55,448 | -14.7% |
| Fixed assets | 21/28 | €23,176 | €9,647 | -€13,529 | -58.4% |
| Tangible fixed assets | 22/27 | €23,176 | €9,647 | -€13,529 | -58.4% |
| Plant, machinery and equipment | 23 | - | €880 | +€880 | |
| Furniture and vehicles | 24 | €23,176 | €8,767 | -€14,409 | -62.2% |
| Current assets | 29/58 | €353,139 | €311,220 | -€41,919 | -11.9% |
| Amounts receivable within one year | 40/41 | €26,349 | €4,762 | -€21,588 | -81.9% |
| Trade receivables | 40 | €26,348 | €7 | -€26,341 | -100.0% |
| Other amounts receivable | 41 | €2 | €4,755 | +€4,753 | +316,873% |
| Cash at bank and in hand | 54/58 | €325,153 | €305,114 | -€20,039 | -6.2% |
| Deferred charges and accrued income | 490/1 | €1,637 | €1,345 | -€292 | -17.8% |
| Total equity and liabilities | 10/49 | €376,315 | €320,867 | -€55,448 | -14.7% |
| Equity | 10/15 | €310,713 | €306,400 | -€4,314 | -1.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €304,513 | €304,513 | = | 0.0% |
| Distributable reserves | 133 | €304,513 | €304,513 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€4,314 | -€4,314 | |
| Amounts payable | 17/49 | €65,602 | €14,468 | -€51,134 | -77.9% |
| Amounts payable within one year | 42/48 | €65,602 | €14,468 | -€51,134 | -77.9% |
| Current portion of amounts payable after more than one year | 42 | €8,887 | - | -€8,887 | |
| Financial debts | 43 | €4,730 | - | -€4,730 | |
| Other loans | 439 | €4,730 | - | -€4,730 | |
| Trade debts | 44 | €52 | €192 | +€140 | +268% |
| Suppliers | 440/4 | €52 | €192 | +€140 | +268% |
| Taxes, remuneration and social security | 45 | €37,546 | - | -€37,546 | |
| Taxes | 450/3 | €31,546 | - | -€31,546 | |
| Remuneration and social security | 454/9 | €6,000 | - | -€6,000 | |
| Other amounts payable | 47/48 | €14,386 | €14,276 | -€111 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,279 | €14,417 | +€138 | +1.0% |
| Other operating charges | 640/8 | €673 | €691 | +€18 | +2.7% |
| Gross operating margin | 9900 | €128,328 | €12,172 | -€116,156 | -90.5% |
| Operating profit (loss) | 9901 | €113,376 | -€2,936 | -€116,312 | |
| Financial charges | 65/66B | €520 | €139 | -€381 | -73.3% |
| Recurring financial charges | 65 | €520 | €139 | -€381 | -73.3% |
| Profit (loss) for the period before taxes | 9903 | €112,855 | -€3,075 | -€115,931 | |
| Income taxes | 67/77 | €38,553 | €1,238 | -€37,314 | -96.8% |
| Profit (loss) for the period | 9904 | €74,303 | -€4,314 | -€78,616 | |
| Profit (loss) for the period to be appropriated | 9905 | €74,303 | -€4,314 | -€78,616 |
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 27 October 2026 via checked.be.