HERTEX: 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.
HERTEX
Largest movements
- Cash +€31,803
up €31,803 (+1101.0%), from €2,889 to €34,691
mainly Current investments (+€29,760) and Net result for the year (+€11,638)
- Current investments -€29,760
no longer reported in 2025 (was €29,760)
- Receivables within one year +€8,249
new in 2025: €8,249
of which Other amounts receivable: +€5,009
- Tangible fixed assets -€4,611
down €4,611 (-6.0%), from €77,343 to €72,732
- Reserves +€11,638
up €11,638 (+42.7%), from €27,259 to €38,896
of which Distributable reserves: +€11,638
- Other debts -€4,827
no longer reported in 2025 (was €4,827)
- Turnover -€23,760
no longer reported in 2025 (was €23,760)
- Gross operating margin +€9,490
up €9,490 (+62.5%), from €15,177 to €24,666
- Purchases and services -€6,583
no longer reported in 2025 (was €6,583)
- Taxes +€3,618
up €3,618 (+187.6%), from €1,929 to €5,547
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 | €109,991 | €115,672 | +€5,681 | +5.2% |
| Fixed assets | 21/28 | €77,343 | €72,732 | -€4,611 | -6.0% |
| Tangible fixed assets | 22/27 | €77,343 | €72,732 | -€4,611 | -6.0% |
| Land and buildings | 22 | €77,343 | €72,732 | -€4,611 | -6.0% |
| Current assets | 29/58 | €32,648 | €42,940 | +€10,292 | +31.5% |
| Amounts receivable within one year | 40/41 | - | €8,249 | +€8,249 | |
| Trade receivables | 40 | - | €3,240 | +€3,240 | |
| Other amounts receivable | 41 | - | €5,009 | +€5,009 | |
| Current investments | 50/53 | €29,760 | - | -€29,760 | |
| Cash at bank and in hand | 54/58 | €2,889 | €34,691 | +€31,803 | +1101.0% |
| Total equity and liabilities | 10/49 | €109,991 | €115,672 | +€5,681 | +5.2% |
| Equity | 10/15 | €90,259 | €101,896 | +€11,638 | +12.9% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Outside capital | 11 | €63,000 | €63,000 | = | 0.0% |
| Other | 1109/19 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €27,259 | €38,896 | +€11,638 | +42.7% |
| Non-distributable reserves | 130/1 | €12,016 | €12,016 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,016 | €12,016 | = | 0.0% |
| Distributable reserves | 133 | €15,242 | €26,880 | +€11,638 | +76.4% |
| Amounts payable | 17/49 | €19,733 | €13,776 | -€5,956 | -30.2% |
| Amounts payable within one year | 42/48 | €9,888 | €3,931 | -€5,956 | -60.2% |
| Trade debts | 44 | €1,452 | €1,452 | = | 0.0% |
| Suppliers | 440/4 | €1,452 | €1,452 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €3,609 | €2,479 | -€1,130 | -31.3% |
| Taxes | 450/3 | €3,609 | €2,479 | -€1,130 | -31.3% |
| Other amounts payable | 47/48 | €4,827 | - | -€4,827 | |
| Accrued charges and deferred income | 492/3 | €9,845 | €9,845 | = | 0.0% |
| Turnover | 70 | €23,760 | - | -€23,760 | |
| Goods, raw materials, services and sundry goods | 60/61 | €6,583 | - | -€6,583 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,611 | €4,611 | = | 0.0% |
| Other operating charges | 640/8 | €2,943 | €3,033 | +€90 | +3.1% |
| Gross operating margin | 9900 | €15,177 | €24,666 | +€9,490 | +62.5% |
| Operating profit (loss) | 9901 | €7,623 | €17,023 | +€9,400 | +123.3% |
| Financial income | 75/76B | €24 | €193 | +€170 | +709.5% |
| Recurring financial income | 75 | €24 | €193 | +€170 | +709.5% |
| Financial charges | 65/66B | -€68 | €32 | +€100 | |
| Recurring financial charges | 65 | -€68 | €32 | +€100 | |
| Profit (loss) for the period before taxes | 9903 | €7,715 | €17,184 | +€9,469 | +122.7% |
| Income taxes | 67/77 | €1,929 | €5,547 | +€3,618 | +187.6% |
| Profit (loss) for the period | 9904 | €5,786 | €11,638 | +€5,851 | +101.1% |
| Profit (loss) for the period to be appropriated | 9905 | €5,786 | €11,638 | +€5,851 | +101.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.