HERVATRA: 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.
HERVATRA
Largest movements
- Tangible fixed assets -€54,305
down €54,305 (-33.1%), from €164,151 to €109,846
of which Leasing and similar rights: -€28,222
- Cash +€33,271
up €33,271 (+23.2%), from €143,663 to €176,934
mainly Depreciation (+€54,305) and Other debts (+€50,600)
- Receivables within one year +€15,644
up €15,644 (+93.1%), from €16,796 to €32,440
of which Trade receivables: +€15,177
- Other debts +€50,600
up €50,600 (+763.2%), from €6,630 to €57,230
- Tax, wage and social debts -€22,932
down €22,932 (-69.2%), from €33,116 to €10,184
of which Remuneration and social security: -€22,445
- Debts after one year -€18,367
down €18,367 (-100.0%), from €18,367 to €0
- Profit (loss) carried forward -€10,004
down €10,004 (-16.7%), from €59,858 to €49,854
- Gross operating margin -€33,626
down €33,626 (-40.0%), from €83,973 to €50,347
- Depreciation +€4,996
up €4,996 (+10.1%), from €49,309 to €54,305
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 | €385,890 | €378,842 | -€7,048 | -1.8% |
| Fixed assets | 21/28 | €164,151 | €109,846 | -€54,305 | -33.1% |
| Tangible fixed assets | 22/27 | €164,151 | €109,846 | -€54,305 | -33.1% |
| Land and buildings | 22 | €34,384 | €29,590 | -€4,793 | -13.9% |
| Plant, machinery and equipment | 23 | €7,117 | €5,561 | -€1,556 | -21.9% |
| Furniture and vehicles | 24 | €77,109 | €57,375 | -€19,733 | -25.6% |
| Leasing and similar rights | 25 | €45,542 | €17,320 | -€28,222 | -62.0% |
| Current assets | 29/58 | €221,739 | €268,996 | +€47,256 | +21.3% |
| Amounts receivable within one year | 40/41 | €16,796 | €32,440 | +€15,644 | +93.1% |
| Trade receivables | 40 | €13,890 | €29,067 | +€15,177 | +109.3% |
| Other amounts receivable | 41 | €2,906 | €3,373 | +€467 | +16.1% |
| Current investments | 50/53 | €51,598 | €51,598 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €143,663 | €176,934 | +€33,271 | +23.2% |
| Deferred charges and accrued income | 490/1 | €9,683 | €8,024 | -€1,659 | -17.1% |
| Total equity and liabilities | 10/49 | €385,890 | €378,842 | -€7,048 | -1.8% |
| Equity | 10/15 | €299,547 | €289,543 | -€10,004 | -3.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €221,089 | €221,089 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €221,089 | €221,089 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,858 | €49,854 | -€10,004 | -16.7% |
| Amounts payable | 17/49 | €86,343 | €89,299 | +€2,955 | +3.4% |
| Amounts payable after more than one year | 17 | €18,367 | €0 | -€18,367 | -100.0% |
| Financial debts | 170/4 | €18,367 | €0 | -€18,367 | -100.0% |
| Amounts payable within one year | 42/48 | €67,976 | €89,299 | +€21,322 | +31.4% |
| Current portion of amounts payable after more than one year | 42 | €21,683 | €18,367 | -€3,316 | -15.3% |
| Trade debts | 44 | €6,547 | €3,517 | -€3,030 | -46.3% |
| Suppliers | 440/4 | €6,547 | €3,517 | -€3,030 | -46.3% |
| Taxes, remuneration and social security | 45 | €33,116 | €10,184 | -€22,932 | -69.2% |
| Taxes | 450/3 | €10,671 | €10,184 | -€487 | -4.6% |
| Remuneration and social security | 454/9 | €22,445 | €0 | -€22,445 | -100.0% |
| Other amounts payable | 47/48 | €6,630 | €57,230 | +€50,600 | +763.2% |
| Non-recurring operating income | 76A | €7,000 | €0 | -€7,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,309 | €54,305 | +€4,996 | +10.1% |
| Other operating charges | 640/8 | €7,469 | €7,055 | -€414 | -5.5% |
| Gross operating margin | 9900 | €83,973 | €50,347 | -€33,626 | -40.0% |
| Operating profit (loss) | 9901 | €27,195 | -€11,013 | -€38,207 | |
| Financial income | 75/76B | €1,352 | €1,557 | +€205 | +15.2% |
| Recurring financial income | 75 | €1,352 | €1,557 | +€205 | +15.2% |
| Financial charges | 65/66B | €749 | €548 | -€201 | -26.8% |
| Recurring financial charges | 65 | €749 | €548 | -€201 | -26.8% |
| Profit (loss) for the period before taxes | 9903 | €27,798 | -€10,004 | -€37,801 | |
| Profit (loss) for the period | 9904 | €27,798 | -€10,004 | -€37,801 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,798 | -€10,004 | -€37,801 |
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 12 October 2026 via checked.be.