HERVÉ: 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.
HERVÉ
Largest movements
- Receivables within one year +€48,064
up €48,064 (+35.5%), from €135,419 to €183,483
of which Other amounts receivable: +€51,781
- Profit (loss) carried forward +€55,766
up €55,766 (+49.5%), from €112,735 to €168,501
- Tax, wage and social debts -€16,787
down €16,787 (-37.1%), from €45,223 to €28,436
- Trade debts -€15,195
down €15,195 (-75.6%), from €20,090 to €4,895
- Current portion of long-term debt +€12,639
new in 2025: €12,639
- Short-term financial debts +€10,715
new in 2025: €10,715
- Gross operating margin +€20,299
up €20,299 (+38.8%), from €52,295 to €72,594
- Taxes +€9,359
up €9,359 (+74.0%), from €12,649 to €22,008
- Depreciation -€4,201
down €4,201 (-94.5%), from €4,448 to €247
- Financial income +€1,764
up €1,764 (+25.3%), from €6,963 to €8,727
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 | €217,147 | €265,637 | +€48,489 | +22.3% |
| Fixed assets | 21/28 | €704 | €987 | +€283 | +40.1% |
| Tangible fixed assets | 22/27 | €704 | €987 | +€283 | +40.1% |
| Furniture and vehicles | 24 | €704 | €987 | +€283 | +40.1% |
| Current assets | 29/58 | €216,443 | €264,650 | +€48,207 | +22.3% |
| Amounts receivable after more than one year | 29 | €72,612 | €73,657 | +€1,046 | +1.4% |
| Other amounts receivable | 291 | €72,612 | €73,657 | +€1,046 | +1.4% |
| Amounts receivable within one year | 40/41 | €135,419 | €183,483 | +€48,064 | +35.5% |
| Trade receivables | 40 | €19,738 | €16,021 | -€3,717 | -18.8% |
| Other amounts receivable | 41 | €115,682 | €167,463 | +€51,781 | +44.8% |
| Cash at bank and in hand | 54/58 | €8,398 | €7,350 | -€1,048 | -12.5% |
| Deferred charges and accrued income | 490/1 | €14 | €159 | +€145 | +1018.6% |
| Total equity and liabilities | 10/49 | €217,147 | €265,637 | +€48,489 | +22.3% |
| Equity | 10/15 | €151,834 | €207,600 | +€55,766 | +36.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €38,099 | €38,099 | = | 0.0% |
| Distributable reserves | 133 | €38,099 | €38,099 | = | 0.0% |
| Profit (loss) carried forward | 14 | €112,735 | €168,501 | +€55,766 | +49.5% |
| Amounts payable | 17/49 | €65,313 | €58,036 | -€7,277 | -11.1% |
| Amounts payable after more than one year | 17 | - | €1,351 | +€1,351 | |
| Financial debts | 170/4 | - | €1,351 | +€1,351 | |
| Amounts payable within one year | 42/48 | €65,313 | €56,685 | -€8,628 | -13.2% |
| Current portion of amounts payable after more than one year | 42 | - | €12,639 | +€12,639 | |
| Financial debts | 43 | - | €10,715 | +€10,715 | |
| Credit institutions | 430/8 | - | €10,715 | +€10,715 | |
| Trade debts | 44 | €20,090 | €4,895 | -€15,195 | -75.6% |
| Suppliers | 440/4 | €20,090 | €4,895 | -€15,195 | -75.6% |
| Taxes, remuneration and social security | 45 | €45,223 | €28,436 | -€16,787 | -37.1% |
| Taxes | 450/3 | €45,223 | €28,436 | -€16,787 | -37.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,448 | €247 | -€4,201 | -94.5% |
| Other operating charges | 640/8 | €924 | €715 | -€209 | -22.6% |
| Non-recurring operating charges | 66A | - | €704 | +€704 | |
| Gross operating margin | 9900 | €52,295 | €72,594 | +€20,299 | +38.8% |
| Operating profit (loss) | 9901 | €46,924 | €70,929 | +€24,005 | +51.2% |
| Financial income | 75/76B | €6,963 | €8,727 | +€1,764 | +25.3% |
| Recurring financial income | 75 | €6,963 | €8,727 | +€1,764 | +25.3% |
| Financial charges | 65/66B | €1,203 | €1,882 | +€679 | +56.5% |
| Recurring financial charges | 65 | €1,203 | €1,882 | +€679 | +56.5% |
| Profit (loss) for the period before taxes | 9903 | €52,684 | €77,774 | +€25,090 | +47.6% |
| Income taxes | 67/77 | €12,649 | €22,008 | +€9,359 | +74.0% |
| Profit (loss) for the period | 9904 | €40,036 | €55,766 | +€15,731 | +39.3% |
| Profit (loss) for the period to be appropriated | 9905 | €40,036 | €55,766 | +€15,731 | +39.3% |
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 7 October 2026 via checked.be.