HertLease: 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.
HertLease
Largest movements
- Cash +€441,423
up €441,423 (+20.4%), from €2.2m to €2.6m
mainly Net result for the year (+€791,946) and Trade debts (+€105,643)
- Receivables within one year +€354,585
up €354,585 (+75.4%), from €470,452 to €825,037
of which Trade receivables: +€380,636
- Stocks and contracts +€116,476
new in 2025: €116,476
- Tangible fixed assets +€53,889
up €53,889 (+14.4%), from €375,411 to €429,301
of which Other tangible fixed assets: +€68,071
- Reserves +€792,000
up €792,000 (+50.9%), from €1.6m to €2.3m
- Trade debts +€105,643
up €105,643 (+15.9%), from €665,553 to €771,196
- Short-term financial debts -€84,523
no longer reported in 2025 (was €84,523)
- Tax, wage and social debts +€83,922
up €83,922 (+93.1%), from €90,188 to €174,109
of which Taxes: +€43,747
- Accrued charges and deferred income +€50,417
up €50,417 (+4.1%), from €1.2m to €1.3m
- Gross operating margin +€393,890
up €393,890 (+28.8%), from €1.4m to €1.8m
- Staff costs +€240,729
up €240,729 (+75.5%), from €319,023 to €559,752
- Write-downs +€47,002
up €47,002 (+340%), from €13,835 to €60,837
- Taxes +€29,334
up €29,334 (+12.3%), from €239,247 to €268,581
- Other operating charges +€17,638
up €17,638 (+91.1%), from €19,358 to €36,995
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 | €3,968,426 | €4,898,859 | +€930,433 | +23.4% |
| Fixed assets | 21/28 | €397,098 | €474,654 | +€77,556 | +19.5% |
| Intangible fixed assets | 21 | €21,687 | €45,353 | +€23,666 | +109% |
| Tangible fixed assets | 22/27 | €375,411 | €429,301 | +€53,889 | +14.4% |
| Plant, machinery and equipment | 23 | €21,475 | €15,984 | -€5,490 | -25.6% |
| Furniture and vehicles | 24 | €33,073 | €24,382 | -€8,691 | -26.3% |
| Other tangible fixed assets | 26 | €320,863 | €388,934 | +€68,071 | +21.2% |
| Current assets | 29/58 | €3,571,328 | €4,424,205 | +€852,877 | +23.9% |
| Amounts receivable after more than one year | 29 | €447,387 | €423,755 | -€23,631 | -5.3% |
| Other amounts receivable | 291 | €447,387 | €423,755 | -€23,631 | -5.3% |
| Stocks and contracts in progress | 3 | - | €116,476 | +€116,476 | |
| Stocks | 30/36 | - | €116,476 | +€116,476 | |
| Amounts receivable within one year | 40/41 | €470,452 | €825,037 | +€354,585 | +75.4% |
| Trade receivables | 40 | €91,817 | €472,453 | +€380,636 | +415% |
| Other amounts receivable | 41 | €378,634 | €352,584 | -€26,050 | -6.9% |
| Cash at bank and in hand | 54/58 | €2,167,179 | €2,608,602 | +€441,423 | +20.4% |
| Deferred charges and accrued income | 490/1 | €486,310 | €450,335 | -€35,975 | -7.4% |
| Total equity and liabilities | 10/49 | €3,968,426 | €4,898,859 | +€930,433 | +23.4% |
| Equity | 10/15 | €1,708,047 | €2,499,994 | +€791,946 | +46.4% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €1,557,000 | €2,349,000 | +€792,000 | +50.9% |
| Distributable reserves | 133 | €1,557,000 | €2,349,000 | +€792,000 | +50.9% |
| Profit (loss) carried forward | 14 | €1,047 | €994 | -€54 | -5.1% |
| Amounts payable | 17/49 | €2,260,379 | €2,398,865 | +€138,486 | +6.1% |
| Amounts payable after more than one year | 17 | €180,401 | €161,100 | -€19,301 | -10.7% |
| Financial debts | 170/4 | €180,401 | €161,100 | -€19,301 | -10.7% |
| Amounts payable within one year | 42/48 | €860,390 | €967,760 | +€107,370 | +12.5% |
| Current portion of amounts payable after more than one year | 42 | €20,126 | €22,454 | +€2,328 | +11.6% |
| Financial debts | 43 | €84,523 | - | -€84,523 | |
| Credit institutions | 430/8 | €84,523 | - | -€84,523 | |
| Trade debts | 44 | €665,553 | €771,196 | +€105,643 | +15.9% |
| Suppliers | 440/4 | €665,553 | €771,196 | +€105,643 | +15.9% |
| Taxes, remuneration and social security | 45 | €90,188 | €174,109 | +€83,922 | +93.1% |
| Taxes | 450/3 | €56,660 | €100,407 | +€43,747 | +77.2% |
| Remuneration and social security | 454/9 | €33,528 | €73,703 | +€40,175 | +120% |
| Accrued charges and deferred income | 492/3 | €1,219,588 | €1,270,005 | +€50,417 | +4.1% |
| Remuneration, social security and pensions | 62 | €319,023 | €559,752 | +€240,729 | +75.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,661 | €60,293 | +€17,631 | +41.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €13,835 | €60,837 | +€47,002 | +340% |
| Other operating charges | 640/8 | €19,358 | €36,995 | +€17,638 | +91.1% |
| Gross operating margin | 9900 | €1,368,787 | €1,762,677 | +€393,890 | +28.8% |
| Operating profit (loss) | 9901 | €973,910 | €1,044,800 | +€70,890 | +7.3% |
| Financial income | 75/76B | €33,583 | €35,324 | +€1,741 | +5.2% |
| Recurring financial income | 75 | €32,861 | €32,619 | -€242 | -0.7% |
| Non-recurring financial income | 76B | €723 | €2,705 | +€1,983 | +274% |
| Financial charges | 65/66B | €20,305 | €19,597 | -€708 | -3.5% |
| Recurring financial charges | 65 | €20,305 | €19,597 | -€708 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €987,189 | €1,060,528 | +€73,339 | +7.4% |
| Income taxes | 67/77 | €239,247 | €268,581 | +€29,334 | +12.3% |
| Profit (loss) for the period | 9904 | €747,942 | €791,946 | +€44,004 | +5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €747,942 | €791,946 | +€44,004 | +5.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.