Hertz Projects: 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.
Hertz Projects
Largest movements
- Cash -€12,662
down €12,662 (-95.4%), from €13,272 to €610
mainly Debts after one year (-€22,630) and Receivables within one year (-€3,878)
- Tangible fixed assets -€8,009
down €8,009 (-2.3%), from €344,624 to €336,615
- Receivables within one year +€3,878
up €3,878 (+138.5%), from €2,800 to €6,678
- Debts after one year -€22,630
down €22,630 (-7.9%), from €285,751 to €263,120
- Other debts +€4,943
up €4,943 (+7.6%), from €64,640 to €69,582
- Gross operating margin -€2,446
down €2,446 (-13.9%), from €17,569 to €15,123
- Depreciation -€1,193
down €1,193 (-13.0%), from €9,202 to €8,009
- Financial charges +€1,061
up €1,061 (+16.8%), from €6,326 to €7,387
- Other operating charges +€181
up €181 (+11.1%), from €1,627 to €1,807
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 | €360,696 | €343,903 | -€16,793 | -4.7% |
| Fixed assets | 21/28 | €344,624 | €336,615 | -€8,009 | -2.3% |
| Tangible fixed assets | 22/27 | €344,624 | €336,615 | -€8,009 | -2.3% |
| Land and buildings | 22 | €344,624 | €336,615 | -€8,009 | -2.3% |
| Current assets | 29/58 | €16,072 | €7,288 | -€8,784 | -54.7% |
| Amounts receivable within one year | 40/41 | €2,800 | €6,678 | +€3,878 | +138.5% |
| Trade receivables | 40 | €2,800 | €6,678 | +€3,878 | +138.5% |
| Cash at bank and in hand | 54/58 | €13,272 | €610 | -€12,662 | -95.4% |
| Total equity and liabilities | 10/49 | €360,696 | €343,903 | -€16,793 | -4.7% |
| Equity | 10/15 | -€20,710 | -€22,776 | -€2,066 | -10.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,710 | -€37,776 | -€2,066 | -5.8% |
| Amounts payable | 17/49 | €381,406 | €366,679 | -€14,727 | -3.9% |
| Amounts payable after more than one year | 17 | €285,751 | €263,120 | -€22,630 | -7.9% |
| Financial debts | 170/4 | €285,751 | €263,120 | -€22,630 | -7.9% |
| Amounts payable within one year | 42/48 | €95,655 | €103,559 | +€7,904 | +8.3% |
| Current portion of amounts payable after more than one year | 42 | €22,190 | €22,630 | +€441 | +2.0% |
| Trade debts | 44 | €8,765 | €8,661 | -€104 | -1.2% |
| Suppliers | 440/4 | €8,765 | €8,661 | -€104 | -1.2% |
| Taxes, remuneration and social security | 45 | €61 | €2,685 | +€2,624 | +4272.0% |
| Taxes | 450/3 | €61 | €2,685 | +€2,624 | +4272.0% |
| Other amounts payable | 47/48 | €64,640 | €69,582 | +€4,943 | +7.6% |
| Non-recurring operating income | 76A | - | €4,132 | +€4,132 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,202 | €8,009 | -€1,193 | -13.0% |
| Other operating charges | 640/8 | €1,627 | €1,807 | +€181 | +11.1% |
| Gross operating margin | 9900 | €17,569 | €15,123 | -€2,446 | -13.9% |
| Operating profit (loss) | 9901 | €6,741 | €5,307 | -€1,434 | -21.3% |
| Financial income | 75/76B | €5 | €14 | +€9 | +178.5% |
| Recurring financial income | 75 | €5 | €14 | +€9 | +178.5% |
| Financial charges | 65/66B | €6,326 | €7,387 | +€1,061 | +16.8% |
| Recurring financial charges | 65 | €6,326 | €7,387 | +€1,061 | +16.8% |
| Profit (loss) for the period before taxes | 9903 | €420 | -€2,066 | -€2,486 | |
| Profit (loss) for the period | 9904 | €420 | -€2,066 | -€2,486 | |
| Profit (loss) for the period to be appropriated | 9905 | €420 | -€2,066 | -€2,486 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.