HERREBOUT - VERMANDER: 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.
HERREBOUT - VERMANDER
Largest movements
- Tangible fixed assets -€28,403
down €28,403 (-5.5%), from €519,938 to €491,534
of which Land and buildings: -€24,663
- Stocks and contracts -€27,335
down €27,335 (-29.6%), from €92,324 to €64,989
- Receivables within one year -€14,129
down €14,129 (-20.4%), from €69,122 to €54,993
of which Trade receivables: -€14,166
- Other debts -€28,062
down €28,062 (-17.6%), from €159,584 to €131,522
- Reserves -€27,915
down €27,915 (-15.0%), from €186,415 to €158,500
of which Distributable reserves: -€27,915
- Gross operating margin -€31,889
down €31,889 (-73.6%), from €43,332 to €11,443
- Depreciation -€768
down €768 (-2.3%), from €34,071 to €33,303
- Financial charges +€602
up €602 (+49.3%), from €1,221 to €1,823
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 | €682,050 | €622,357 | -€59,693 | -8.8% |
| Fixed assets | 21/28 | €519,938 | €491,534 | -€28,403 | -5.5% |
| Tangible fixed assets | 22/27 | €519,938 | €491,534 | -€28,403 | -5.5% |
| Land and buildings | 22 | €485,097 | €460,434 | -€24,663 | -5.1% |
| Plant, machinery and equipment | 23 | €34,840 | €31,100 | -€3,741 | -10.7% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €162,113 | €130,823 | -€31,290 | -19.3% |
| Stocks and contracts in progress | 3 | €92,324 | €64,989 | -€27,335 | -29.6% |
| Stocks | 30/36 | €92,324 | €64,989 | -€27,335 | -29.6% |
| Amounts receivable within one year | 40/41 | €69,122 | €54,993 | -€14,129 | -20.4% |
| Trade receivables | 40 | €68,432 | €54,266 | -€14,166 | -20.7% |
| Other amounts receivable | 41 | €690 | €727 | +€37 | +5.4% |
| Cash at bank and in hand | 54/58 | €44 | €6,084 | +€6,040 | +13,659% |
| Deferred charges and accrued income | 490/1 | €623 | €4,757 | +€4,134 | +664% |
| Total equity and liabilities | 10/49 | €682,050 | €622,357 | -€59,693 | -8.8% |
| Equity | 10/15 | €511,415 | €483,500 | -€27,915 | -5.5% |
| Contributions | 10/11 | €325,000 | €325,000 | = | 0.0% |
| Capital | 10 | €325,000 | €325,000 | = | 0.0% |
| Issued capital | 100 | €325,000 | €325,000 | = | 0.0% |
| Reserves | 13 | €186,415 | €158,500 | -€27,915 | -15.0% |
| Non-distributable reserves | 130/1 | €32,500 | €32,500 | = | 0.0% |
| Legal reserve | 130 | €32,500 | €32,500 | = | 0.0% |
| Distributable reserves | 133 | €153,915 | €126,000 | -€27,915 | -18.1% |
| Amounts payable | 17/49 | €170,635 | €138,857 | -€31,778 | -18.6% |
| Amounts payable within one year | 42/48 | €170,438 | €138,721 | -€31,717 | -18.6% |
| Financial debts | 43 | €1,877 | €0 | -€1,877 | -100% |
| Credit institutions | 430/8 | €1,877 | €0 | -€1,877 | -100% |
| Trade debts | 44 | €8,233 | €6,734 | -€1,499 | -18.2% |
| Suppliers | 440/4 | €8,233 | €6,734 | -€1,499 | -18.2% |
| Taxes, remuneration and social security | 45 | €744 | €465 | -€279 | -37.5% |
| Taxes | 450/3 | €744 | €465 | -€279 | -37.5% |
| Other amounts payable | 47/48 | €159,584 | €131,522 | -€28,062 | -17.6% |
| Accrued charges and deferred income | 492/3 | €197 | €137 | -€60 | -30.7% |
| Non-recurring operating income | 76A | €1,500 | €0 | -€1,500 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,071 | €33,303 | -€768 | -2.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €4,244 | €4,529 | +€285 | +6.7% |
| Gross operating margin | 9900 | €43,332 | €11,443 | -€31,889 | -73.6% |
| Operating profit (loss) | 9901 | €5,016 | -€26,390 | -€31,406 | |
| Financial income | 75/76B | €1 | €297 | +€296 | +28,740% |
| Recurring financial income | 75 | €1 | €297 | +€296 | +28,740% |
| Financial charges | 65/66B | €1,221 | €1,823 | +€602 | +49.3% |
| Recurring financial charges | 65 | €1,221 | €1,823 | +€602 | +49.3% |
| Profit (loss) for the period before taxes | 9903 | €3,796 | -€27,915 | -€31,712 | |
| Income taxes | 67/77 | €345 | €0 | -€345 | -100% |
| Profit (loss) for the period | 9904 | €3,451 | -€27,915 | -€31,366 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,451 | -€27,915 | -€31,366 |
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 25 October 2026 via checked.be.