Hertz House: 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.
Hertz House
Largest movements
- Tangible fixed assets -€21,034
down €21,034 (-25.6%), from €82,296 to €61,261
of which Plant, machinery and equipment: -€13,877
- Receivables after one year +€4,700
up €4,700 (+25.4%), from €18,500 to €23,200
- Receivables within one year -€2,745
down €2,745 (-52.0%), from €5,274 to €2,529
- Profit (loss) carried forward -€29,860
down €29,860, from €23,901 to -€5,959
- Debts after one year -€11,583
down €11,583 (-24.8%), from €46,627 to €35,043
- Tax, wage and social debts +€9,776
up €9,776 (+91.6%), from €10,670 to €20,446
- Short-term financial debts +€5,502
up €5,502 (+294%), from €1,868 to €7,370
of which Other loans: +€2,833
- Current portion of long-term debt +€4,042
up €4,042 (+23.2%), from €17,407 to €21,449
- Gross operating margin -€53,659
down €53,659, from €52,767 to -€892
- Financial charges -€4,303
down €4,303 (-41.6%), from €10,341 to €6,037
- Taxes -€4,033
no longer reported in 2025 (was €4,033)
- Depreciation +€1,226
up €1,226 (+5.9%), from €20,825 to €22,051
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 | €109,204 | €89,036 | -€20,168 | -18.5% |
| Fixed assets | 21/28 | €82,296 | €61,261 | -€21,034 | -25.6% |
| Tangible fixed assets | 22/27 | €82,296 | €61,261 | -€21,034 | -25.6% |
| Plant, machinery and equipment | 23 | €49,229 | €35,352 | -€13,877 | -28.2% |
| Furniture and vehicles | 24 | €2,504 | €1,019 | -€1,486 | -59.3% |
| Leasing and similar rights | 25 | €30,562 | €24,890 | -€5,672 | -18.6% |
| Current assets | 29/58 | €26,908 | €27,775 | +€867 | +3.2% |
| Amounts receivable after more than one year | 29 | €18,500 | €23,200 | +€4,700 | +25.4% |
| Other amounts receivable | 291 | €18,500 | €23,200 | +€4,700 | +25.4% |
| Amounts receivable within one year | 40/41 | €5,274 | €2,529 | -€2,745 | -52.0% |
| Trade receivables | 40 | €5,274 | €2,529 | -€2,745 | -52.0% |
| Cash at bank and in hand | 54/58 | €554 | - | -€554 | |
| Deferred charges and accrued income | 490/1 | €2,580 | €2,046 | -€534 | -20.7% |
| Total equity and liabilities | 10/49 | €109,204 | €89,036 | -€20,168 | -18.5% |
| Equity | 10/15 | €28,901 | -€959 | -€29,860 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,901 | -€5,959 | -€29,860 | |
| Amounts payable | 17/49 | €80,303 | €89,995 | +€9,692 | +12.1% |
| Amounts payable after more than one year | 17 | €46,627 | €35,043 | -€11,583 | -24.8% |
| Financial debts | 170/4 | €46,627 | €35,043 | -€11,583 | -24.8% |
| Amounts payable within one year | 42/48 | €33,676 | €54,952 | +€21,276 | +63.2% |
| Current portion of amounts payable after more than one year | 42 | €17,407 | €21,449 | +€4,042 | +23.2% |
| Financial debts | 43 | €1,868 | €7,370 | +€5,502 | +294% |
| Credit institutions | 430/8 | €35 | €2,703 | +€2,668 | +7,628% |
| Other loans | 439 | €1,833 | €4,667 | +€2,833 | +155% |
| Trade debts | 44 | €3,662 | €5,658 | +€1,996 | +54.5% |
| Suppliers | 440/4 | €3,662 | €5,658 | +€1,996 | +54.5% |
| Taxes, remuneration and social security | 45 | €10,670 | €20,446 | +€9,776 | +91.6% |
| Taxes | 450/3 | €10,670 | €20,446 | +€9,776 | +91.6% |
| Other amounts payable | 47/48 | €69 | €30 | -€40 | -57.2% |
| Non-recurring operating income | 76A | - | €407 | +€407 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,825 | €22,051 | +€1,226 | +5.9% |
| Other operating charges | 640/8 | €1,587 | €1,506 | -€81 | -5.1% |
| Gross operating margin | 9900 | €52,767 | -€892 | -€53,659 | |
| Operating profit (loss) | 9901 | €30,356 | -€24,448 | -€54,804 | |
| Financial income | 75/76B | €278 | €626 | +€348 | +125% |
| Recurring financial income | 75 | €278 | €626 | +€348 | +125% |
| Financial charges | 65/66B | €10,341 | €6,037 | -€4,303 | -41.6% |
| Recurring financial charges | 65 | €10,341 | €6,037 | -€4,303 | -41.6% |
| Profit (loss) for the period before taxes | 9903 | €20,293 | -€29,860 | -€50,153 | |
| Income taxes | 67/77 | €4,033 | - | -€4,033 | |
| Profit (loss) for the period | 9904 | €16,259 | -€29,860 | -€46,119 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,259 | -€29,860 | -€46,119 |
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 21 October 2026 via checked.be.