HERTEBOS: 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.
HERTEBOS
Largest movements
- Tangible fixed assets -€751,253
down €751,253 (-87.9%), from €854,502 to €103,249
of which Land and buildings: -€747,082
- Stocks and contracts -€12,536
down €12,536 (-100.0%), from €12,536 to €0
- Debts after one year -€396,907
down €396,907 (-87.9%), from €451,290 to €54,383
- Profit (loss) carried forward -€196,062
down €196,062 (-613.8%), from -€31,942 to -€228,004
- Other debts -€164,784
down €164,784 (-100.0%), from €164,784 to €0
- Current portion of long-term debt -€25,106
down €25,106 (-57.6%), from €43,604 to €18,498
- Trade debts +€12,109
up €12,109 (+15.7%), from €77,126 to €89,235
- Gross operating margin +€56,401
up €56,401 (+24.0%), from €235,092 to €291,493
- Staff costs +€51,452
up €51,452 (+38.4%), from €133,891 to €185,343
- Depreciation -€46,713
down €46,713 (-81.2%), from €57,511 to €10,798
- Financial charges +€18,907
up €18,907 (+57.4%), from €32,941 to €51,847
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
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 | €881,518 | €110,992 | -€770,526 | -87.4% |
| Fixed assets | 21/28 | €859,905 | €103,249 | -€756,655 | -88.0% |
| Intangible fixed assets | 21 | €5,277 | €0 | -€5,277 | -100.0% |
| Tangible fixed assets | 22/27 | €854,502 | €103,249 | -€751,253 | -87.9% |
| Land and buildings | 22 | €815,985 | €68,903 | -€747,082 | -91.6% |
| Plant, machinery and equipment | 23 | €26,352 | €22,312 | -€4,039 | -15.3% |
| Furniture and vehicles | 24 | €12,165 | €12,034 | -€131 | -1.1% |
| Financial fixed assets | 28 | €125 | €0 | -€125 | -100.0% |
| Current assets | 29/58 | €21,613 | €7,743 | -€13,870 | -64.2% |
| Stocks and contracts in progress | 3 | €12,536 | €0 | -€12,536 | -100.0% |
| Stocks | 30/36 | €12,536 | €0 | -€12,536 | -100.0% |
| Amounts receivable within one year | 40/41 | €1,450 | €5,738 | +€4,288 | +295.7% |
| Trade receivables | 40 | €1,450 | €5,194 | +€3,744 | +258.2% |
| Other amounts receivable | 41 | - | €544 | +€544 | |
| Cash at bank and in hand | 54/58 | €6,942 | €0 | -€6,942 | -100.0% |
| Deferred charges and accrued income | 490/1 | €685 | €2,005 | +€1,320 | +192.8% |
| Total equity and liabilities | 10/49 | €881,518 | €110,992 | -€770,526 | -87.4% |
| Equity | 10/15 | €44,854 | -€151,208 | -€196,062 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €58,196 | €58,196 | = | 0.0% |
| Distributable reserves | 133 | €58,196 | €58,196 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,942 | -€228,004 | -€196,062 | -613.8% |
| Amounts payable | 17/49 | €836,664 | €262,200 | -€574,464 | -68.7% |
| Amounts payable after more than one year | 17 | €451,290 | €54,383 | -€396,907 | -87.9% |
| Financial debts | 170/4 | €451,290 | €54,383 | -€396,907 | -87.9% |
| Amounts payable within one year | 42/48 | €385,374 | €207,817 | -€177,556 | -46.1% |
| Current portion of amounts payable after more than one year | 42 | €43,604 | €18,498 | -€25,106 | -57.6% |
| Financial debts | 43 | €64,815 | €72,842 | +€8,028 | +12.4% |
| Credit institutions | 430/8 | €64,815 | €72,842 | +€8,028 | +12.4% |
| Trade debts | 44 | €77,126 | €89,235 | +€12,109 | +15.7% |
| Suppliers | 440/4 | €77,126 | €89,235 | +€12,109 | +15.7% |
| Taxes, remuneration and social security | 45 | €35,045 | €27,243 | -€7,803 | -22.3% |
| Taxes | 450/3 | €15,347 | €21,799 | +€6,452 | +42.0% |
| Remuneration and social security | 454/9 | €19,698 | €5,444 | -€14,254 | -72.4% |
| Other amounts payable | 47/48 | €164,784 | €0 | -€164,784 | -100.0% |
| Non-recurring operating income | 76A | €250 | €0 | -€250 | -100.0% |
| Remuneration, social security and pensions | 62 | €133,891 | €185,343 | +€51,452 | +38.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,511 | €10,798 | -€46,713 | -81.2% |
| Other operating charges | 640/8 | €4,238 | €3,487 | -€752 | -17.7% |
| Non-recurring operating charges | 66A | €639 | €236,023 | +€235,383 | +36826.4% |
| Gross operating margin | 9900 | €235,092 | €291,493 | +€56,401 | +24.0% |
| Operating profit (loss) | 9901 | €38,812 | -€144,158 | -€182,970 | |
| Financial income | 75/76B | €176 | €222 | +€46 | +26.1% |
| Recurring financial income | 75 | €176 | €222 | +€46 | +26.1% |
| Financial charges | 65/66B | €32,941 | €51,847 | +€18,907 | +57.4% |
| Recurring financial charges | 65 | €32,941 | €51,847 | +€18,907 | +57.4% |
| Profit (loss) for the period before taxes | 9903 | €6,048 | -€195,783 | -€201,831 | |
| Income taxes | 67/77 | €362 | €279 | -€82 | -22.8% |
| Profit (loss) for the period | 9904 | €5,687 | -€196,062 | -€201,749 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,687 | -€196,062 | -€201,749 |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.