HERUS: 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.
HERUS
Largest movements
- Deferred charges and accrued income +€127,670
up €127,670 (+11920.5%), from €1,071 to €128,741
- Receivables within one year +€56,376
up €56,376 (+19.9%), from €283,724 to €340,100
of which Trade receivables: +€34,739
- Tangible fixed assets -€30,398
down €30,398 (-66.9%), from €45,464 to €15,066
- Cash +€18,693
up €18,693 (+1896.5%), from €986 to €19,679
mainly Net result for the year (+€209,813) and Tax, wage and social debts (+€83,000)
- Reserves +€143,393
up €143,393 (+64.9%), from €221,028 to €364,420
- Tax, wage and social debts +€83,000
up €83,000 (+268.5%), from €30,916 to €113,916
- Current portion of long-term debt -€29,289
down €29,289 (-100.0%), from €29,289 to €0
- Debts after one year -€27,631
down €27,631 (-100.0%), from €27,631 to €0
- Short-term financial debts +€6,726
new in 2025: €6,726
- Gross operating margin +€202,875
up €202,875 (+212.6%), from €95,427 to €298,302
- Taxes +€54,688
up €54,688 (+222.0%), from €24,629 to €79,317
- Depreciation -€11,831
down €11,831 (-70.8%), from €16,703 to €4,871
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 | €331,244 | €503,585 | +€172,342 | +52.0% |
| Fixed assets | 21/28 | €45,464 | €15,066 | -€30,398 | -66.9% |
| Tangible fixed assets | 22/27 | €45,464 | €15,066 | -€30,398 | -66.9% |
| Furniture and vehicles | 24 | €45,464 | €15,066 | -€30,398 | -66.9% |
| Current assets | 29/58 | €285,780 | €488,519 | +€202,739 | +70.9% |
| Amounts receivable within one year | 40/41 | €283,724 | €340,100 | +€56,376 | +19.9% |
| Trade receivables | 40 | €48,744 | €83,483 | +€34,739 | +71.3% |
| Other amounts receivable | 41 | €234,980 | €256,617 | +€21,637 | +9.2% |
| Cash at bank and in hand | 54/58 | €986 | €19,679 | +€18,693 | +1896.5% |
| Deferred charges and accrued income | 490/1 | €1,071 | €128,741 | +€127,670 | +11920.5% |
| Total equity and liabilities | 10/49 | €331,244 | €503,585 | +€172,342 | +52.0% |
| Equity | 10/15 | €226,028 | €369,420 | +€143,393 | +63.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €221,028 | €364,420 | +€143,393 | +64.9% |
| Distributable reserves | 133 | €221,028 | €364,420 | +€143,393 | +64.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €105,216 | €134,165 | +€28,949 | +27.5% |
| Amounts payable after more than one year | 17 | €27,631 | €0 | -€27,631 | -100.0% |
| Financial debts | 170/4 | €27,631 | €0 | -€27,631 | -100.0% |
| Amounts payable within one year | 42/48 | €77,585 | €134,165 | +€56,579 | +72.9% |
| Current portion of amounts payable after more than one year | 42 | €29,289 | €0 | -€29,289 | -100.0% |
| Financial debts | 43 | - | €6,726 | +€6,726 | |
| Credit institutions | 430/8 | - | €6,726 | +€6,726 | |
| Trade debts | 44 | €15,730 | €13,522 | -€2,208 | -14.0% |
| Suppliers | 440/4 | €15,730 | €13,522 | -€2,208 | -14.0% |
| Taxes, remuneration and social security | 45 | €30,916 | €113,916 | +€83,000 | +268.5% |
| Taxes | 450/3 | €30,916 | €113,916 | +€83,000 | +268.5% |
| Other amounts payable | 47/48 | €1,650 | €0 | -€1,650 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,703 | €4,871 | -€11,831 | -70.8% |
| Other operating charges | 640/8 | €5,002 | €2,251 | -€2,751 | -55.0% |
| Non-recurring operating charges | 66A | €0 | €10,099 | +€10,099 | |
| Gross operating margin | 9900 | €95,427 | €298,302 | +€202,875 | +212.6% |
| Operating profit (loss) | 9901 | €73,722 | €281,081 | +€207,359 | +281.3% |
| Financial income | 75/76B | €12,113 | €12,082 | -€30 | -0.2% |
| Recurring financial income | 75 | €12,113 | €12,082 | -€30 | -0.2% |
| Financial charges | 65/66B | €6,946 | €4,034 | -€2,912 | -41.9% |
| Recurring financial charges | 65 | €6,946 | €4,034 | -€2,912 | -41.9% |
| Profit (loss) for the period before taxes | 9903 | €78,889 | €289,130 | +€210,241 | +266.5% |
| Income taxes | 67/77 | €24,629 | €79,317 | +€54,688 | +222.0% |
| Profit (loss) for the period | 9904 | €54,260 | €209,813 | +€155,554 | +286.7% |
| Profit (loss) for the period to be appropriated | 9905 | €54,260 | €209,813 | +€155,554 | +286.7% |
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 29 September 2026 via checked.be.