HERTJE: 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.
HERTJE
Largest movements
- Cash -€106,875
down €106,875 (-91.0%), from €117,447 to €10,572
mainly Investment in fixed assets (net) (-€129,149) and Net result for the year (-€79,988)
- Tangible fixed assets +€34,220
up €34,220 (+1.4%), from €2.4m to €2.4m
of which Land and buildings: +€61,148
- Profit (loss) carried forward -€77,522
down €77,522 (-62.6%), from -€123,779 to -€201,302
- Gross operating margin -€120,779
down €120,779 (-72.5%), from €166,668 to €45,888
- Other operating charges +€19,033
up €19,033 (+731%), from €2,602 to €21,635
- Taxes +€4,749
up €4,749 (+1,487%), from €319 to €5,069
- Depreciation +€4,524
up €4,524 (+5.0%), from €90,406 to €94,929
- Write-downs +€3,391
new in 2025: €3,391
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 | €2,535,490 | €2,450,660 | -€84,830 | -3.3% |
| Fixed assets | 21/28 | €2,402,750 | €2,436,969 | +€34,220 | +1.4% |
| Tangible fixed assets | 22/27 | €2,402,250 | €2,436,469 | +€34,220 | +1.4% |
| Land and buildings | 22 | €2,298,489 | €2,359,637 | +€61,148 | +2.7% |
| Plant, machinery and equipment | 23 | €25,293 | €19,575 | -€5,718 | -22.6% |
| Furniture and vehicles | 24 | €78,468 | €57,258 | -€21,211 | -27.0% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €132,740 | €13,691 | -€119,049 | -89.7% |
| Amounts receivable within one year | 40/41 | €13,553 | €0 | -€13,553 | -100% |
| Trade receivables | 40 | €12,095 | €0 | -€12,095 | -100% |
| Other amounts receivable | 41 | €1,457 | €0 | -€1,457 | -100% |
| Cash at bank and in hand | 54/58 | €117,447 | €10,572 | -€106,875 | -91.0% |
| Deferred charges and accrued income | 490/1 | €1,741 | €3,119 | +€1,378 | +79.2% |
| Total equity and liabilities | 10/49 | €2,535,490 | €2,450,660 | -€84,830 | -3.3% |
| Equity | 10/15 | -€20,097 | -€100,085 | -€79,988 | -398% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €78,893 | €76,427 | -€2,466 | -3.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €78,893 | €76,427 | -€2,466 | -3.1% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€123,779 | -€201,302 | -€77,522 | -62.6% |
| Provisions and deferred taxes | 16 | €26,298 | €25,476 | -€822 | -3.1% |
| Deferred taxes | 168 | €26,298 | €25,476 | -€822 | -3.1% |
| Amounts payable | 17/49 | €2,529,290 | €2,525,270 | -€4,019 | -0.2% |
| Amounts payable within one year | 42/48 | €2,527,360 | €2,524,279 | -€3,080 | -0.1% |
| Trade debts | 44 | €12,525 | €1,565 | -€10,960 | -87.5% |
| Suppliers | 440/4 | €12,525 | €1,565 | -€10,960 | -87.5% |
| Taxes, remuneration and social security | 45 | €319 | €362 | +€43 | +13.4% |
| Taxes | 450/3 | €319 | €362 | +€43 | +13.4% |
| Other amounts payable | 47/48 | €2,514,515 | €2,522,352 | +€7,837 | +0.3% |
| Accrued charges and deferred income | 492/3 | €1,930 | €991 | -€939 | -48.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,406 | €94,929 | +€4,524 | +5.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,391 | +€3,391 | |
| Other operating charges | 640/8 | €2,602 | €21,635 | +€19,033 | +731% |
| Gross operating margin | 9900 | €166,668 | €45,888 | -€120,779 | -72.5% |
| Operating profit (loss) | 9901 | €73,660 | -€74,067 | -€147,727 | |
| Financial income | 75/76B | €23 | €0 | -€23 | -100% |
| Recurring financial income | 75 | €23 | €0 | -€23 | -100% |
| Financial charges | 65/66B | €1,108 | €1,674 | +€567 | +51.1% |
| Recurring financial charges | 65 | €1,108 | €1,674 | +€567 | +51.1% |
| Profit (loss) for the period before taxes | 9903 | €72,574 | -€75,742 | -€148,316 | |
| Transfer from deferred taxes | 780 | - | €822 | +€822 | |
| Transfer to deferred taxes | 680 | €26,298 | €0 | -€26,298 | -100% |
| Income taxes | 67/77 | €319 | €5,069 | +€4,749 | +1,487% |
| Profit (loss) for the period | 9904 | €45,957 | -€79,988 | -€125,946 | |
| Transfer from tax-exempt reserves | 789 | - | €2,466 | +€2,466 | |
| Transfer to tax-exempt reserves | 689 | €78,893 | €0 | -€78,893 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,936 | -€77,522 | -€44,587 | -135% |
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 23 October 2026 via checked.be.