HERVÉ: 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.
HERVÉ
Largest movements
- Cash -€63,066
down €63,066 (-39.9%), from €157,929 to €94,864
mainly Contributions, distributions and other (-€186,608) and Current investments (-€60,709)
- Current investments +€60,709
up €60,709 (+17.5%), from €346,900 to €407,609
- Tangible fixed assets -€11,294
down €11,294 (-26.6%), from €42,462 to €31,169
of which Furniture and vehicles: -€10,807
- Reserves -€49,293
down €49,293 (-13.3%), from €370,948 to €321,655
- Other debts +€48,474
up €48,474 (+44.3%), from €109,324 to €157,798
- Debts after one year -€9,279
down €9,279 (-35.1%), from €26,461 to €17,182
- Gross operating margin +€7,943
up €7,943 (+4.3%), from €185,986 to €193,929
- Taxes -€2,411
down €2,411 (-5.1%), from €46,825 to €44,414
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €622,375 | €618,599 | -€3,776 | -0.6% |
| Fixed assets | 21/28 | €43,212 | €31,919 | -€11,294 | -26.1% |
| Tangible fixed assets | 22/27 | €42,462 | €31,169 | -€11,294 | -26.6% |
| Plant, machinery and equipment | 23 | €967 | €634 | -€333 | -34.4% |
| Furniture and vehicles | 24 | €38,578 | €27,772 | -€10,807 | -28.0% |
| Other tangible fixed assets | 26 | €2,917 | €2,763 | -€154 | -5.3% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €579,163 | €586,681 | +€7,517 | +1.3% |
| Amounts receivable within one year | 40/41 | €8,336 | €12,526 | +€4,190 | +50.3% |
| Other amounts receivable | 41 | €8,336 | €12,526 | +€4,190 | +50.3% |
| Current investments | 50/53 | €346,900 | €407,609 | +€60,709 | +17.5% |
| Cash at bank and in hand | 54/58 | €157,929 | €94,864 | -€63,066 | -39.9% |
| Deferred charges and accrued income | 490/1 | €65,997 | €71,681 | +€5,685 | +8.6% |
| Total equity and liabilities | 10/49 | €622,375 | €618,599 | -€3,776 | -0.6% |
| Equity | 10/15 | €439,598 | €390,305 | -€49,293 | -11.2% |
| Contributions | 10/11 | €68,650 | €68,650 | = | 0.0% |
| Reserves | 13 | €370,948 | €321,655 | -€49,293 | -13.3% |
| Distributable reserves | 133 | €370,948 | €321,655 | -€49,293 | -13.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €182,778 | €228,295 | +€45,517 | +24.9% |
| Amounts payable after more than one year | 17 | €26,461 | €17,182 | -€9,279 | -35.1% |
| Financial debts | 170/4 | €26,461 | €17,182 | -€9,279 | -35.1% |
| Amounts payable within one year | 42/48 | €156,316 | €211,112 | +€54,796 | +35.1% |
| Current portion of amounts payable after more than one year | 42 | €8,907 | €9,279 | +€373 | +4.2% |
| Financial debts | 43 | €37,500 | €37,500 | = | 0.0% |
| Credit institutions | 430/8 | €37,500 | €37,500 | = | 0.0% |
| Trade debts | 44 | €586 | €871 | +€285 | +48.6% |
| Suppliers | 440/4 | €586 | €871 | +€285 | +48.6% |
| Taxes, remuneration and social security | 45 | €0 | €5,665 | +€5,665 | |
| Taxes | 450/3 | €0 | €5,665 | +€5,665 | |
| Other amounts payable | 47/48 | €109,324 | €157,798 | +€48,474 | +44.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,992 | €11,294 | +€301 | +2.7% |
| Other operating charges | 640/8 | €727 | €747 | +€20 | +2.7% |
| Gross operating margin | 9900 | €185,986 | €193,929 | +€7,943 | +4.3% |
| Operating profit (loss) | 9901 | €174,267 | €181,889 | +€7,622 | +4.4% |
| Financial income | 75/76B | €1,052 | €2,001 | +€950 | +90.3% |
| Recurring financial income | 75 | €1,052 | €2,001 | +€950 | +90.3% |
| Financial charges | 65/66B | €2,708 | €2,162 | -€546 | -20.2% |
| Recurring financial charges | 65 | €2,708 | €2,162 | -€546 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €172,610 | €181,728 | +€9,118 | +5.3% |
| Income taxes | 67/77 | €46,825 | €44,414 | -€2,411 | -5.1% |
| Profit (loss) for the period | 9904 | €125,786 | €137,315 | +€11,529 | +9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €125,786 | €137,315 | +€11,529 | +9.2% |
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 16 October 2026 via checked.be.