HERVE CALLENS: 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.
HERVE CALLENS
Largest movements
- Intangible fixed assets -€37,970
down €37,970 (-7.0%), from €545,735 to €507,765
- Stocks and contracts -€37,871
down €37,871 (-7.9%), from €480,513 to €442,642
- Cash -€37,162
down €37,162 (-56.6%), from €65,678 to €28,516
mainly Contributions, distributions and other (-€50,000) and Short-term financial debts (-€49,506)
- Deferred charges and accrued income +€22,585
new in 2025: €22,585
- Short-term financial debts -€49,506
down €49,506 (-25.5%), from €194,379 to €144,873
- Reserves -€49,283
down €49,283 (-9.9%), from €499,592 to €450,309
of which Distributable reserves: -€49,283
- Debts after one year -€44,873
down €44,873 (-10.2%), from €440,129 to €395,256
- Trade debts +€27,189
up €27,189 (+75.5%), from €36,000 to €63,189
- Other debts +€19,276
up €19,276 (+193%), from €9,994 to €29,270
- Gross operating margin -€20,670
down €20,670 (-20.4%), from €101,568 to €80,898
- Depreciation -€6,662
down €6,662 (-12.3%), from €53,975 to €47,313
- Financial charges -€3,021
down €3,021 (-11.6%), from €26,090 to €23,069
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 | €1,316,048 | €1,213,327 | -€102,721 | -7.8% |
| Fixed assets | 21/28 | €592,058 | €544,745 | -€47,313 | -8.0% |
| Intangible fixed assets | 21 | €545,735 | €507,765 | -€37,970 | -7.0% |
| Tangible fixed assets | 22/27 | €46,323 | €36,980 | -€9,343 | -20.2% |
| Plant, machinery and equipment | 23 | €17,505 | €13,024 | -€4,481 | -25.6% |
| Furniture and vehicles | 24 | €28,818 | €23,956 | -€4,862 | -16.9% |
| Current assets | 29/58 | €723,990 | €668,582 | -€55,408 | -7.7% |
| Stocks and contracts in progress | 3 | €480,513 | €442,642 | -€37,871 | -7.9% |
| Stocks | 30/36 | €480,513 | €442,642 | -€37,871 | -7.9% |
| Amounts receivable within one year | 40/41 | €177,799 | €174,839 | -€2,960 | -1.7% |
| Trade receivables | 40 | €155,476 | €151,236 | -€4,240 | -2.7% |
| Other amounts receivable | 41 | €22,323 | €23,603 | +€1,280 | +5.7% |
| Cash at bank and in hand | 54/58 | €65,678 | €28,516 | -€37,162 | -56.6% |
| Deferred charges and accrued income | 490/1 | - | €22,585 | +€22,585 | |
| Total equity and liabilities | 10/49 | €1,316,048 | €1,213,327 | -€102,721 | -7.8% |
| Equity | 10/15 | €624,592 | €575,309 | -€49,283 | -7.9% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €499,592 | €450,309 | -€49,283 | -9.9% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Distributable reserves | 133 | €487,092 | €437,809 | -€49,283 | -10.1% |
| Amounts payable | 17/49 | €691,456 | €638,018 | -€53,438 | -7.7% |
| Amounts payable after more than one year | 17 | €440,129 | €395,256 | -€44,873 | -10.2% |
| Financial debts | 170/4 | €440,129 | €395,256 | -€44,873 | -10.2% |
| Amounts payable within one year | 42/48 | €251,327 | €242,762 | -€8,565 | -3.4% |
| Financial debts | 43 | €194,379 | €144,873 | -€49,506 | -25.5% |
| Credit institutions | 430/8 | €194,379 | €144,873 | -€49,506 | -25.5% |
| Trade debts | 44 | €36,000 | €63,189 | +€27,189 | +75.5% |
| Suppliers | 440/4 | €36,000 | €63,189 | +€27,189 | +75.5% |
| Taxes, remuneration and social security | 45 | €10,954 | €5,430 | -€5,524 | -50.4% |
| Taxes | 450/3 | €10,954 | €5,430 | -€5,524 | -50.4% |
| Other amounts payable | 47/48 | €9,994 | €29,270 | +€19,276 | +193% |
| Non-recurring operating income | 76A | €1,322 | €1,364 | +€42 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,975 | €47,313 | -€6,662 | -12.3% |
| Other operating charges | 640/8 | €8,875 | €9,308 | +€433 | +4.9% |
| Gross operating margin | 9900 | €101,568 | €80,898 | -€20,670 | -20.4% |
| Operating profit (loss) | 9901 | €38,718 | €24,277 | -€14,441 | -37.3% |
| Financial income | 75/76B | €1,959 | €2,068 | +€109 | +5.6% |
| Recurring financial income | 75 | €1,959 | €1,370 | -€589 | -30.1% |
| Non-recurring financial income | 76B | - | €698 | +€698 | |
| Financial charges | 65/66B | €26,090 | €23,069 | -€3,021 | -11.6% |
| Recurring financial charges | 65 | €26,090 | €23,069 | -€3,021 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €14,587 | €3,276 | -€11,311 | -77.5% |
| Income taxes | 67/77 | €3,374 | €2,559 | -€815 | -24.2% |
| Profit (loss) for the period | 9904 | €11,213 | €717 | -€10,496 | -93.6% |
| Profit (loss) for the period to be appropriated | 9905 | €11,213 | €717 | -€10,496 | -93.6% |
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.