HERVAN INVEST: 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.
HERVAN INVEST
Largest movements
- Tangible fixed assets +€285,950
up €285,950 (+42.0%), from €681,530 to €967,479
- Cash -€71,008
down €71,008 (-33.8%), from €210,316 to €139,308
mainly Investment in fixed assets (net) (-€334,515) and Net result for the year (-€10,541)
- Debts after one year +€192,506
new in 2025: €192,506
- Current portion of long-term debt +€19,712
new in 2025: €19,712
- Depreciation +€27,129
up €27,129 (+127%), from €21,436 to €48,565
- Gross operating margin -€6,970
down €6,970 (-9.1%), from €76,370 to €69,400
- Financial charges +€4,957
up €4,957 (+778%), from €637 to €5,594
- Other operating charges +€4,717
up €4,717 (+22.4%), from €21,065 to €25,782
- Financial income -€806
down €806 (-100%), from €806 to €0
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 | €936,513 | €1,149,063 | +€212,550 | +22.7% |
| Fixed assets | 21/28 | €681,530 | €967,479 | +€285,950 | +42.0% |
| Tangible fixed assets | 22/27 | €681,530 | €967,479 | +€285,950 | +42.0% |
| Land and buildings | 22 | €681,530 | €967,479 | +€285,950 | +42.0% |
| Current assets | 29/58 | €254,984 | €181,584 | -€73,400 | -28.8% |
| Amounts receivable within one year | 40/41 | €44,668 | €42,276 | -€2,392 | -5.4% |
| Trade receivables | 40 | €42,365 | €39,702 | -€2,663 | -6.3% |
| Other amounts receivable | 41 | €2,303 | €2,574 | +€272 | +11.8% |
| Cash at bank and in hand | 54/58 | €210,316 | €139,308 | -€71,008 | -33.8% |
| Total equity and liabilities | 10/49 | €936,513 | €1,149,063 | +€212,550 | +22.7% |
| Equity | 10/15 | €421,859 | €411,318 | -€10,541 | -2.5% |
| Contributions | 10/11 | €650,000 | €650,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€228,141 | -€238,682 | -€10,541 | -4.6% |
| Amounts payable | 17/49 | €514,654 | €737,745 | +€223,091 | +43.3% |
| Amounts payable after more than one year | 17 | - | €192,506 | +€192,506 | |
| Financial debts | 170/4 | - | €192,506 | +€192,506 | |
| Amounts payable within one year | 42/48 | €514,654 | €545,239 | +€30,585 | +5.9% |
| Current portion of amounts payable after more than one year | 42 | - | €19,712 | +€19,712 | |
| Trade debts | 44 | €34,654 | €45,527 | +€10,873 | +31.4% |
| Suppliers | 440/4 | €34,654 | €45,527 | +€10,873 | +31.4% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €480,000 | €480,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,436 | €48,565 | +€27,129 | +127% |
| Other operating charges | 640/8 | €21,065 | €25,782 | +€4,717 | +22.4% |
| Gross operating margin | 9900 | €76,370 | €69,400 | -€6,970 | -9.1% |
| Operating profit (loss) | 9901 | €33,869 | -€4,947 | -€38,816 | |
| Financial income | 75/76B | €806 | €0 | -€806 | -100% |
| Recurring financial income | 75 | €806 | €0 | -€806 | -100% |
| Financial charges | 65/66B | €637 | €5,594 | +€4,957 | +778% |
| Recurring financial charges | 65 | €637 | €5,594 | +€4,957 | +778% |
| Profit (loss) for the period before taxes | 9903 | €34,038 | -€10,541 | -€44,579 | |
| Profit (loss) for the period | 9904 | €34,038 | -€10,541 | -€44,579 | |
| Profit (loss) for the period to be appropriated | 9905 | €34,038 | -€10,541 | -€44,579 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.