Hertgaan: 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.
Hertgaan
Largest movements
- Cash +€17,790
up €17,790 (+558%), from €3,189 to €20,978
mainly Net result for the year (+€18,891) and Other debts (+€14,070)
- Tangible fixed assets -€2,360
down €2,360 (-10.2%), from €23,168 to €20,808
of which Furniture and vehicles: -€3,498
- Receivables within one year +€956
up €956, from €0 to €956
of which Other amounts receivable: +€956
- Other debts +€14,070
up €14,070 (+227%), from €6,209 to €20,279
- Tax, wage and social debts +€2,648
up €2,648 (+31.1%), from €8,504 to €11,152
- Gross operating margin +€23,035
up €23,035 (+163%), from €14,130 to €37,165
- Taxes +€4,513
up €4,513 (+295%), from €1,532 to €6,044
- Depreciation +€1,551
up €1,551 (+23.6%), from €6,570 to €8,122
- Financial charges -€567
down €567 (-14.8%), from €3,822 to €3,255
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 | €28,753 | €45,281 | +€16,528 | +57.5% |
| Fixed assets | 21/28 | €23,168 | €20,808 | -€2,360 | -10.2% |
| Tangible fixed assets | 22/27 | €23,168 | €20,808 | -€2,360 | -10.2% |
| Plant, machinery and equipment | 23 | €1,373 | €929 | -€444 | -32.4% |
| Furniture and vehicles | 24 | €14,027 | €10,530 | -€3,498 | -24.9% |
| Other tangible fixed assets | 26 | €7,767 | €9,350 | +€1,582 | +20.4% |
| Current assets | 29/58 | €5,585 | €24,473 | +€18,887 | +338% |
| Amounts receivable within one year | 40/41 | €0 | €956 | +€956 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | - | €956 | +€956 | |
| Cash at bank and in hand | 54/58 | €3,189 | €20,978 | +€17,790 | +558% |
| Deferred charges and accrued income | 490/1 | €2,397 | €2,538 | +€142 | +5.9% |
| Total equity and liabilities | 10/49 | €28,753 | €45,281 | +€16,528 | +57.5% |
| Equity | 10/15 | €12,400 | €12,400 | = | 0.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €16,353 | €32,881 | +€16,528 | +101% |
| Amounts payable within one year | 42/48 | €16,353 | €32,881 | +€16,528 | +101% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,641 | €1,450 | -€191 | -11.6% |
| Suppliers | 440/4 | €1,641 | €1,450 | -€191 | -11.6% |
| Taxes, remuneration and social security | 45 | €8,504 | €11,152 | +€2,648 | +31.1% |
| Taxes | 450/3 | €8,504 | €11,152 | +€2,648 | +31.1% |
| Other amounts payable | 47/48 | €6,209 | €20,279 | +€14,070 | +227% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,570 | €8,122 | +€1,551 | +23.6% |
| Other operating charges | 640/8 | €832 | €854 | +€21 | +2.6% |
| Gross operating margin | 9900 | €14,130 | €37,165 | +€23,035 | +163% |
| Operating profit (loss) | 9901 | €6,728 | €28,190 | +€21,462 | +319% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €3,822 | €3,255 | -€567 | -14.8% |
| Recurring financial charges | 65 | €3,822 | €3,255 | -€567 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | €2,906 | €24,935 | +€22,028 | +758% |
| Income taxes | 67/77 | €1,532 | €6,044 | +€4,513 | +295% |
| Profit (loss) for the period | 9904 | €1,375 | €18,891 | +€17,516 | +1,274% |
| Profit (loss) for the period to be appropriated | 9905 | €1,375 | €18,891 | +€17,516 | +1,274% |
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 19 October 2026 via checked.be.