HERRIER: 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.
HERRIER
Largest movements
- Cash +€50,370
up €50,370 (+65.7%), from €76,661 to €127,031
mainly Net result for the year (+€46,642) and Depreciation (+€20,766)
- Tangible fixed assets -€14,309
down €14,309 (-18.9%), from €75,769 to €61,460
of which Plant, machinery and equipment: -€8,185
- Receivables within one year +€4,726
up €4,726 (+20.1%), from €23,499 to €28,224
of which Trade receivables: +€6,368
- Reserves +€45,809
up €45,809 (+39.1%), from €117,236 to €163,045
of which Distributable reserves: +€45,809
- Other debts -€9,313
down €9,313 (-43.6%), from €21,348 to €12,035
- Debts after one year -€6,162
down €6,162 (-33.2%), from €18,548 to €12,386
- Trade debts +€5,968
up €5,968 (+1,147%), from €520 to €6,488
- Tax, wage and social debts +€5,419
up €5,419 (+191%), from €2,839 to €8,258
of which Taxes: +€4,194
- Gross operating margin +€103,915
up €103,915 (+294%), from €35,301 to €139,216
- Staff costs +€50,618
new in 2025: €50,618
- Taxes +€17,136
up €17,136 (+1,854%), from €924 to €18,061
- Depreciation +€5,175
up €5,175 (+33.2%), from €15,590 to €20,766
- Financial income -€3,024
down €3,024 (-88.0%), from €3,436 to €412
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 | €186,046 | €227,683 | +€41,637 | +22.4% |
| Fixed assets | 21/28 | €75,894 | €61,620 | -€14,274 | -18.8% |
| Tangible fixed assets | 22/27 | €75,769 | €61,460 | -€14,309 | -18.9% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €33,492 | €25,307 | -€8,185 | -24.4% |
| Furniture and vehicles | 24 | €42,276 | €36,152 | -€6,124 | -14.5% |
| Financial fixed assets | 28 | €125 | €160 | +€35 | +28.0% |
| Current assets | 29/58 | €110,152 | €166,063 | +€55,911 | +50.8% |
| Stocks and contracts in progress | 3 | €7,103 | €7,312 | +€209 | +2.9% |
| Stocks | 30/36 | €7,103 | €7,312 | +€209 | +2.9% |
| Amounts receivable within one year | 40/41 | €23,499 | €28,224 | +€4,726 | +20.1% |
| Trade receivables | 40 | €1,747 | €8,114 | +€6,368 | +365% |
| Other amounts receivable | 41 | €21,752 | €20,110 | -€1,642 | -7.5% |
| Cash at bank and in hand | 54/58 | €76,661 | €127,031 | +€50,370 | +65.7% |
| Deferred charges and accrued income | 490/1 | €2,889 | €3,496 | +€607 | +21.0% |
| Total equity and liabilities | 10/49 | €186,046 | €227,683 | +€41,637 | +22.4% |
| Equity | 10/15 | €135,836 | €181,645 | +€45,809 | +33.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €117,236 | €163,045 | +€45,809 | +39.1% |
| Tax-exempt reserves | 132 | €30,000 | €30,000 | = | 0.0% |
| Distributable reserves | 133 | €87,236 | €133,045 | +€45,809 | +52.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Investment grants | 15 | €0 | - | = | |
| Amounts payable | 17/49 | €50,210 | €46,038 | -€4,171 | -8.3% |
| Amounts payable after more than one year | 17 | €18,548 | €12,386 | -€6,162 | -33.2% |
| Financial debts | 170/4 | €18,548 | €12,386 | -€6,162 | -33.2% |
| Amounts payable within one year | 42/48 | €30,671 | €32,943 | +€2,272 | +7.4% |
| Current portion of amounts payable after more than one year | 42 | €5,964 | €6,162 | +€198 | +3.3% |
| Trade debts | 44 | €520 | €6,488 | +€5,968 | +1,147% |
| Suppliers | 440/4 | €520 | €6,488 | +€5,968 | +1,147% |
| Taxes, remuneration and social security | 45 | €2,839 | €8,258 | +€5,419 | +191% |
| Taxes | 450/3 | €1,823 | €6,018 | +€4,194 | +230% |
| Remuneration and social security | 454/9 | €1,015 | €2,240 | +€1,225 | +121% |
| Other amounts payable | 47/48 | €21,348 | €12,035 | -€9,313 | -43.6% |
| Accrued charges and deferred income | 492/3 | €991 | €710 | -€282 | -28.4% |
| Remuneration, social security and pensions | 62 | - | €50,618 | +€50,618 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,590 | €20,766 | +€5,175 | +33.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,154 | €0 | +€2,154 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €1,191 | €1,790 | +€599 | +50.3% |
| Non-recurring operating charges | 66A | €14,796 | €0 | -€14,796 | -100% |
| Gross operating margin | 9900 | €35,301 | €139,216 | +€103,915 | +294% |
| Operating profit (loss) | 9901 | €5,878 | €66,041 | +€60,163 | +1,024% |
| Financial income | 75/76B | €3,436 | €412 | -€3,024 | -88.0% |
| Recurring financial income | 75 | €3,436 | €412 | -€3,024 | -88.0% |
| Financial charges | 65/66B | €1,651 | €1,751 | +€101 | +6.1% |
| Recurring financial charges | 65 | €1,651 | €1,751 | +€101 | +6.1% |
| Profit (loss) for the period before taxes | 9903 | €7,664 | €64,702 | +€57,038 | +744% |
| Income taxes | 67/77 | €924 | €18,061 | +€17,136 | +1,854% |
| Profit (loss) for the period | 9904 | €6,740 | €46,642 | +€39,902 | +592% |
| Profit (loss) for the period to be appropriated | 9905 | €6,740 | €46,642 | +€39,902 | +592% |
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 13 October 2026 via checked.be.