HERST: what changed
Two fiscal 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.
HERST
Largest movements
- Receivables within one year +€30,785
up €30,785 (+54.8%), from €56,174 to €86,960
of which Trade receivables: +€29,040
- Profit (loss) carried forward +€34,096
up €34,096 (+78.5%), from -€43,437 to -€9,342
- Accrued charges and deferred income -€7,194
down €7,194 (-25.9%), from €27,766 to €20,572
- Short-term financial debts +€2,233
up €2,233 (+19.9%), from €11,229 to €13,462
- Trade debts +€1,511
up €1,511 (+4.1%), from €36,733 to €38,244
- Gross operating margin +€12,092
up €12,092 (+48.1%), from €25,135 to €37,227
- Other operating charges +€496
up €496 (+42.3%), from €1,173 to €1,669
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €56,809 | €87,445 | +€30,635 | +53.9% |
| Fixed assets | 21/28 | €433 | €228 | -€204 | -47.2% |
| Tangible fixed assets | 22/27 | €433 | €228 | -€204 | -47.2% |
| Furniture and vehicles | 24 | €433 | €228 | -€204 | -47.2% |
| Current assets | 29/58 | €56,377 | €87,216 | +€30,839 | +54.7% |
| Amounts receivable within one year | 40/41 | €56,174 | €86,960 | +€30,785 | +54.8% |
| Trade receivables | 40 | €53,527 | €82,567 | +€29,040 | +54.3% |
| Other amounts receivable | 41 | €2,648 | €4,393 | +€1,746 | +65.9% |
| Deferred charges and accrued income | 490/1 | €203 | €257 | +€54 | +26.6% |
| Total equity and liabilities | 10/49 | €56,809 | €87,445 | +€30,635 | +53.9% |
| Equity | 10/15 | -€25,430 | €8,666 | +€34,096 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €11,808 | €11,808 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €9,948 | €9,948 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,437 | -€9,342 | +€34,096 | +78.5% |
| Amounts payable | 17/49 | €82,239 | €78,779 | -€3,461 | -4.2% |
| Amounts payable within one year | 42/48 | €54,473 | €58,206 | +€3,733 | +6.9% |
| Financial debts | 43 | €11,229 | €13,462 | +€2,233 | +19.9% |
| Credit institutions | 430/8 | €11,229 | €13,462 | +€2,233 | +19.9% |
| Trade debts | 44 | €36,733 | €38,244 | +€1,511 | +4.1% |
| Suppliers | 440/4 | €36,733 | €38,244 | +€1,511 | +4.1% |
| Advances received on contracts in progress | 46 | €6,500 | €6,500 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €11 | - | -€11 | |
| Taxes | 450/3 | €11 | - | -€11 | |
| Accrued charges and deferred income | 492/3 | €27,766 | €20,572 | -€7,194 | -25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €180 | €204 | +€24 | +13.4% |
| Other operating charges | 640/8 | €1,173 | €1,669 | +€496 | +42.3% |
| Gross operating margin | 9900 | €25,135 | €37,227 | +€12,092 | +48.1% |
| Operating profit (loss) | 9901 | €23,782 | €35,354 | +€11,572 | +48.7% |
| Financial income | 75/76B | €100 | €0 | -€100 | -99.7% |
| Recurring financial income | 75 | €100 | €0 | -€100 | -99.7% |
| Financial charges | 65/66B | €1,402 | €1,258 | -€144 | -10.3% |
| Recurring financial charges | 65 | €1,402 | €1,258 | -€144 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €22,480 | €34,096 | +€11,616 | +51.7% |
| Profit (loss) for the period | 9904 | €22,480 | €34,096 | +€11,616 | +51.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,480 | €34,096 | +€11,616 | +51.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.