HERTSIMMO: 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.
HERTSIMMO
Largest movements
- Tangible fixed assets -€40,108
down €40,108 (-4.3%), from €929,890 to €889,782
of which Land and buildings: -€25,159
- Cash +€11,300
up €11,300 (+30.9%), from €36,560 to €47,860
mainly Depreciation (+€40,108) and Receivables within one year (+€10,954)
- Receivables within one year -€10,954
down €10,954 (-92.8%), from €11,798 to €844
of which Trade receivables: -€11,798
- Other debts -€40,621
down €40,621 (-11.5%), from €354,483 to €313,862
- Financial charges +€9,362
up €9,362 (+98.4%), from €9,518 to €18,880
- Depreciation -€3,997
down €3,997 (-9.1%), from €44,105 to €40,108
- Gross operating margin +€3,613
up €3,613 (+6.5%), from €55,725 to €59,339
- Taxes -€712
down €712, from €673 to -€39
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 | €995,748 | €948,312 | -€47,435 | -4.8% |
| Fixed assets | 21/28 | €929,890 | €889,782 | -€40,108 | -4.3% |
| Tangible fixed assets | 22/27 | €929,890 | €889,782 | -€40,108 | -4.3% |
| Land and buildings | 22 | €897,146 | €871,988 | -€25,159 | -2.8% |
| Furniture and vehicles | 24 | €32,743 | €17,794 | -€14,950 | -45.7% |
| Current assets | 29/58 | €65,858 | €58,531 | -€7,327 | -11.1% |
| Amounts receivable within one year | 40/41 | €11,798 | €844 | -€10,954 | -92.8% |
| Trade receivables | 40 | €11,798 | €0 | -€11,798 | -100.0% |
| Other amounts receivable | 41 | €0 | €844 | +€844 | |
| Cash at bank and in hand | 54/58 | €36,560 | €47,860 | +€11,300 | +30.9% |
| Deferred charges and accrued income | 490/1 | €17,500 | €9,827 | -€7,673 | -43.8% |
| Total equity and liabilities | 10/49 | €995,748 | €948,312 | -€47,435 | -4.8% |
| Equity | 10/15 | €626,245 | €618,613 | -€7,633 | -1.2% |
| Contributions | 10/11 | €224,344 | €224,344 | = | 0.0% |
| Capital | 10 | €224,344 | €224,344 | = | 0.0% |
| Issued capital | 100 | €224,344 | €224,344 | = | 0.0% |
| Revaluation surpluses | 12 | €600,000 | €600,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€198,098 | -€205,731 | -€7,633 | -3.9% |
| Amounts payable | 17/49 | €369,502 | €329,700 | -€39,802 | -10.8% |
| Amounts payable after more than one year | 17 | €1,636 | €1,636 | = | 0.0% |
| Other amounts payable | 178/9 | €1,636 | €1,636 | = | 0.0% |
| Amounts payable within one year | 42/48 | €367,866 | €328,064 | -€39,802 | -10.8% |
| Trade debts | 44 | €7,213 | €4,081 | -€3,132 | -43.4% |
| Suppliers | 440/4 | €7,213 | €4,081 | -€3,132 | -43.4% |
| Taxes, remuneration and social security | 45 | €6,170 | €10,121 | +€3,951 | +64.0% |
| Taxes | 450/3 | €6,170 | €10,121 | +€3,951 | +64.0% |
| Other amounts payable | 47/48 | €354,483 | €313,862 | -€40,621 | -11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,105 | €40,108 | -€3,997 | -9.1% |
| Other operating charges | 640/8 | €3,776 | €3,871 | +€95 | +2.5% |
| Gross operating margin | 9900 | €55,725 | €59,339 | +€3,613 | +6.5% |
| Operating profit (loss) | 9901 | €7,844 | €15,359 | +€7,515 | +95.8% |
| Financial charges | 65/66B | €9,518 | €18,880 | +€9,362 | +98.4% |
| Recurring financial charges | 65 | €9,518 | €18,880 | +€9,362 | +98.4% |
| Profit (loss) for the period before taxes | 9903 | -€1,674 | -€3,521 | -€1,847 | -110.3% |
| Income taxes | 67/77 | €673 | -€39 | -€712 | |
| Profit (loss) for the period | 9904 | -€2,347 | -€3,482 | -€1,135 | -48.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,347 | -€3,482 | -€1,135 | -48.4% |
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 1 October 2026 via checked.be.