Hertbau: 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.
Hertbau
Largest movements
- Tangible fixed assets -€21,692
down €21,692 (-5.8%), from €374,915 to €353,223
of which Land and buildings: -€21,345
- Profit (loss) carried forward -€46,101
down €46,101 (-58.6%), from -€78,707 to -€124,808
- Other debts +€21,750
up €21,750 (+12.8%), from €169,396 to €191,146
- Gross operating margin -€14,054
down €14,054 (-181%), from -€7,770 to -€21,825
- Other operating charges -€287
down €287 (-10.9%), from €2,641 to €2,354
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 | €379,642 | €355,467 | -€24,174 | -6.4% |
| Fixed assets | 21/28 | €374,915 | €353,223 | -€21,692 | -5.8% |
| Tangible fixed assets | 22/27 | €374,915 | €353,223 | -€21,692 | -5.8% |
| Land and buildings | 22 | €362,862 | €341,517 | -€21,345 | -5.9% |
| Plant, machinery and equipment | 23 | €2,053 | €1,706 | -€347 | -16.9% |
| Furniture and vehicles | 24 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €4,727 | €2,244 | -€2,482 | -52.5% |
| Amounts receivable within one year | 40/41 | €810 | €820 | +€10 | +1.3% |
| Trade receivables | 40 | €810 | €820 | +€10 | +1.3% |
| Cash at bank and in hand | 54/58 | €3,917 | €1,424 | -€2,493 | -63.6% |
| Total equity and liabilities | 10/49 | €379,642 | €355,467 | -€24,174 | -6.4% |
| Equity | 10/15 | -€65,929 | -€112,030 | -€46,101 | -69.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €378 | €378 | = | 0.0% |
| Distributable reserves | 133 | €378 | €378 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€78,707 | -€124,808 | -€46,101 | -58.6% |
| Amounts payable | 17/49 | €445,571 | €467,497 | +€21,926 | +4.9% |
| Amounts payable after more than one year | 17 | €274,500 | €274,500 | = | 0.0% |
| Financial debts | 170/4 | €274,500 | €274,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €169,571 | €191,497 | +€21,926 | +12.9% |
| Taxes, remuneration and social security | 45 | €174 | €351 | +€176 | +101% |
| Taxes | 450/3 | €174 | €351 | +€176 | +101% |
| Other amounts payable | 47/48 | €169,396 | €191,146 | +€21,750 | +12.8% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,692 | €21,692 | = | 0.0% |
| Other operating charges | 640/8 | €2,641 | €2,354 | -€287 | -10.9% |
| Gross operating margin | 9900 | -€7,770 | -€21,825 | -€14,054 | -181% |
| Operating profit (loss) | 9901 | -€32,103 | -€45,870 | -€13,767 | -42.9% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €51 | €54 | +€3 | +5.9% |
| Recurring financial charges | 65 | €51 | €54 | +€3 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | -€32,154 | -€45,924 | -€13,770 | -42.8% |
| Income taxes | 67/77 | €174 | €176 | +€2 | +1.0% |
| Profit (loss) for the period | 9904 | -€32,329 | -€46,101 | -€13,772 | -42.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,329 | -€46,101 | -€13,772 | -42.6% |
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 15 October 2026 via checked.be.