HERVAPAL: 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.
HERVAPAL
Largest movements
- Cash -€38,918
down €38,918 (-33.7%), from €115,358 to €76,440
mainly Net result for the year (-€33,044) and Other debts (-€8,335)
- Tangible fixed assets -€3,030
down €3,030 (-20.4%), from €14,857 to €11,827
of which Land and buildings: -€2,252
- Profit (loss) carried forward -€33,044
down €33,044 (-33.3%), from -€99,106 to -€132,151
- Other debts -€8,335
down €8,335 (-5.2%), from €161,224 to €152,889
- Gross operating margin -€6,917
down €6,917 (-33.2%), from -€20,836 to -€27,753
- Other operating charges +€375
up €375 (+17.2%), from €2,182 to €2,557
- Taxes +€297
up €297, from -€129 to €168
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 | €201,958 | €160,875 | -€41,083 | -20.3% |
| Fixed assets | 21/28 | €14,992 | €11,962 | -€3,030 | -20.2% |
| Tangible fixed assets | 22/27 | €14,857 | €11,827 | -€3,030 | -20.4% |
| Land and buildings | 22 | €13,889 | €11,637 | -€2,252 | -16.2% |
| Plant, machinery and equipment | 23 | €967 | €190 | -€778 | -80.4% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €186,967 | €148,913 | -€38,053 | -20.4% |
| Stocks and contracts in progress | 3 | €55,864 | €55,864 | = | 0.0% |
| Stocks | 30/36 | €55,864 | €55,864 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €13,142 | €14,111 | +€969 | +7.4% |
| Trade receivables | 40 | €4,683 | €4,102 | -€582 | -12.4% |
| Other amounts receivable | 41 | €8,459 | €10,009 | +€1,550 | +18.3% |
| Cash at bank and in hand | 54/58 | €115,358 | €76,440 | -€38,918 | -33.7% |
| Deferred charges and accrued income | 490/1 | €2,602 | €2,498 | -€104 | -4.0% |
| Total equity and liabilities | 10/49 | €201,958 | €160,875 | -€41,083 | -20.3% |
| Equity | 10/15 | €40,593 | €7,549 | -€33,044 | -81.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €89,699 | €89,699 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,371 | €5,371 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,371 | €5,371 | = | 0.0% |
| Distributable reserves | 133 | €84,329 | €84,329 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€99,106 | -€132,151 | -€33,044 | -33.3% |
| Amounts payable | 17/49 | €161,365 | €153,327 | -€8,039 | -5.0% |
| Amounts payable within one year | 42/48 | €161,365 | €153,327 | -€8,039 | -5.0% |
| Trade debts | 44 | €141 | €438 | +€297 | +210% |
| Suppliers | 440/4 | €141 | €438 | +€297 | +210% |
| Other amounts payable | 47/48 | €161,224 | €152,889 | -€8,335 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,030 | €3,030 | = | 0.0% |
| Other operating charges | 640/8 | €2,182 | €2,557 | +€375 | +17.2% |
| Gross operating margin | 9900 | -€20,836 | -€27,753 | -€6,917 | -33.2% |
| Operating profit (loss) | 9901 | -€26,047 | -€33,340 | -€7,293 | -28.0% |
| Financial income | 75/76B | €718 | €561 | -€157 | -21.9% |
| Recurring financial income | 75 | €718 | €561 | -€157 | -21.9% |
| Financial charges | 65/66B | €118 | €97 | -€21 | -17.9% |
| Recurring financial charges | 65 | €118 | €97 | -€21 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | -€25,447 | -€32,876 | -€7,429 | -29.2% |
| Income taxes | 67/77 | -€129 | €168 | +€297 | |
| Profit (loss) for the period | 9904 | -€25,318 | -€33,044 | -€7,726 | -30.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,318 | -€33,044 | -€7,726 | -30.5% |
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 18 October 2026 via checked.be.