HERTENBOS: 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.
HERTENBOS
Largest movements
- Cash +€514,634
up €514,634 (+3,043%), from €16,911 to €531,545
mainly Current investments (+€450,000) and Net result for the year (+€81,145)
- Current investments -€450,000
down €450,000 (-100%), from €450,000 to €0
- Reserves +€81,145
up €81,145 (+11.8%), from €687,033 to €768,178
of which Distributable reserves: +€81,145
- Gross operating margin -€88,632
down €88,632 (-43.8%), from €202,500 to €113,868
- Taxes -€22,434
down €22,434 (-37.2%), from €60,340 to €37,906
- Financial income +€7,037
up €7,037 (+243%), from €2,896 to €9,933
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 | €1,412,516 | €1,477,535 | +€65,019 | +4.6% |
| Fixed assets | 21/28 | €945,447 | €945,447 | = | 0.0% |
| Tangible fixed assets | 22/27 | €945,447 | €945,447 | = | 0.0% |
| Land and buildings | 22 | €945,447 | €945,447 | = | 0.0% |
| Current assets | 29/58 | €467,070 | €532,089 | +€65,019 | +13.9% |
| Amounts receivable within one year | 40/41 | €159 | €544 | +€385 | +242% |
| Other amounts receivable | 41 | €159 | €544 | +€385 | +242% |
| Current investments | 50/53 | €450,000 | €0 | -€450,000 | -100% |
| Cash at bank and in hand | 54/58 | €16,911 | €531,545 | +€514,634 | +3,043% |
| Total equity and liabilities | 10/49 | €1,412,516 | €1,477,535 | +€65,019 | +4.6% |
| Equity | 10/15 | €1,387,033 | €1,468,178 | +€81,145 | +5.9% |
| Contributions | 10/11 | €700,000 | €700,000 | = | 0.0% |
| Capital | 10 | €700,000 | €700,000 | = | 0.0% |
| Issued capital | 100 | €700,000 | €700,000 | = | 0.0% |
| Reserves | 13 | €687,033 | €768,178 | +€81,145 | +11.8% |
| Non-distributable reserves | 130/1 | €114,031 | €114,031 | = | 0.0% |
| Legal reserve | 130 | €114,031 | €114,031 | = | 0.0% |
| Distributable reserves | 133 | €573,002 | €654,147 | +€81,145 | +14.2% |
| Amounts payable | 17/49 | €25,483 | €9,358 | -€16,126 | -63.3% |
| Amounts payable within one year | 42/48 | €17,810 | €9,358 | -€8,453 | -47.5% |
| Trade debts | 44 | €408 | €3,501 | +€3,093 | +758% |
| Suppliers | 440/4 | €408 | €3,501 | +€3,093 | +758% |
| Taxes, remuneration and social security | 45 | €16,471 | €4,926 | -€11,545 | -70.1% |
| Taxes | 450/3 | €16,471 | €4,926 | -€11,545 | -70.1% |
| Other amounts payable | 47/48 | €931 | €931 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €7,673 | €0 | -€7,673 | -100% |
| Other operating charges | 640/8 | €3,564 | €4,641 | +€1,077 | +30.2% |
| Gross operating margin | 9900 | €202,500 | €113,868 | -€88,632 | -43.8% |
| Operating profit (loss) | 9901 | €198,936 | €109,227 | -€89,709 | -45.1% |
| Financial income | 75/76B | €2,896 | €9,933 | +€7,037 | +243% |
| Recurring financial income | 75 | €2,896 | €9,933 | +€7,037 | +243% |
| Financial charges | 65/66B | €89 | €110 | +€21 | +23.8% |
| Recurring financial charges | 65 | €89 | €110 | +€21 | +23.8% |
| Profit (loss) for the period before taxes | 9903 | €201,744 | €119,050 | -€82,693 | -41.0% |
| Income taxes | 67/77 | €60,340 | €37,906 | -€22,434 | -37.2% |
| Profit (loss) for the period | 9904 | €141,404 | €81,145 | -€60,259 | -42.6% |
| Profit (loss) for the period to be appropriated | 9905 | €141,404 | €81,145 | -€60,259 | -42.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.