HERVE LAMBERT: 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.
HERVE LAMBERT
Largest movements
- Stocks and contracts +€28,765
up €28,765 (+22.9%), from €125,349 to €154,115
of which Contracts in progress: +€43,921
- Cash -€21,662
down €21,662 (-71.0%), from €30,517 to €8,854
mainly Investment in fixed assets (net) (-€56,684) and Debts after one year (-€45,931)
- Tangible fixed assets -€6,607
down €6,607 (-1.5%), from €452,782 to €446,175
of which Furniture and vehicles: -€7,245
- Other debts +€52,944
up €52,944 (+110.6%), from €47,868 to €100,811
- Debts after one year -€45,931
down €45,931 (-100.0%), from €45,931 to €0
- Advances received -€20,000
down €20,000 (-100.0%), from €20,000 to €0
- Reserves +€13,696
up €13,696 (+3.4%), from €401,840 to €415,536
of which Distributable reserves: +€13,696
- Current portion of long-term debt -€9,382
down €9,382 (-17.0%), from €55,313 to €45,931
- Write-downs +€15,606
up €15,606, from -€9,111 to €6,495
- Depreciation -€7,259
down €7,259 (-10.3%), from €70,550 to €63,291
- Gross operating margin +€5,229
up €5,229 (+5.3%), from €98,338 to €103,567
- Financial charges +€3,273
up €3,273 (+65.0%), from €5,037 to €8,310
- Taxes -€2,300
down €2,300 (-28.6%), from €8,040 to €5,740
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €638,292 | €633,518 | -€4,773 | -0.7% |
| Fixed assets | 21/28 | €452,782 | €446,175 | -€6,607 | -1.5% |
| Tangible fixed assets | 22/27 | €452,782 | €446,175 | -€6,607 | -1.5% |
| Land and buildings | 22 | €378,161 | €375,886 | -€2,275 | -0.6% |
| Plant, machinery and equipment | 23 | €32,941 | €42,423 | +€9,483 | +28.8% |
| Furniture and vehicles | 24 | €18,712 | €11,467 | -€7,245 | -38.7% |
| Leasing and similar rights | 25 | €22,968 | €16,398 | -€6,570 | -28.6% |
| Current assets | 29/58 | €185,510 | €187,344 | +€1,834 | +1.0% |
| Stocks and contracts in progress | 3 | €125,349 | €154,115 | +€28,765 | +22.9% |
| Stocks | 30/36 | €125,349 | €110,194 | -€15,156 | -12.1% |
| Contracts in progress | 37 | - | €43,921 | +€43,921 | |
| Amounts receivable within one year | 40/41 | €20,255 | €15,090 | -€5,166 | -25.5% |
| Trade receivables | 40 | €3,146 | €4,463 | +€1,317 | +41.9% |
| Other amounts receivable | 41 | €17,110 | €10,627 | -€6,483 | -37.9% |
| Cash at bank and in hand | 54/58 | €30,517 | €8,854 | -€21,662 | -71.0% |
| Deferred charges and accrued income | 490/1 | €9,388 | €9,285 | -€103 | -1.1% |
| Total equity and liabilities | 10/49 | €638,292 | €633,518 | -€4,773 | -0.7% |
| Equity | 10/15 | €444,182 | €455,488 | +€11,306 | +2.5% |
| Contributions | 10/11 | €22,605 | €22,605 | = | 0.0% |
| Reserves | 13 | €401,840 | €415,536 | +€13,696 | +3.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €3,644 | €3,644 | = | 0.0% |
| Distributable reserves | 133 | €398,196 | €411,892 | +€13,696 | +3.4% |
| Profit (loss) carried forward | 14 | €781 | €0 | -€781 | -100.0% |
| Investment grants | 15 | €18,955 | €17,347 | -€1,608 | -8.5% |
| Provisions and deferred taxes | 16 | €712 | €647 | -€65 | -9.1% |
| Deferred taxes | 168 | €712 | €647 | -€65 | -9.1% |
| Amounts payable | 17/49 | €193,397 | €177,383 | -€16,014 | -8.3% |
| Amounts payable after more than one year | 17 | €45,931 | €0 | -€45,931 | -100.0% |
| Financial debts | 170/4 | €45,931 | €0 | -€45,931 | -100.0% |
| Amounts payable within one year | 42/48 | €145,770 | €171,550 | +€25,781 | +17.7% |
| Current portion of amounts payable after more than one year | 42 | €55,313 | €45,931 | -€9,382 | -17.0% |
| Trade debts | 44 | €950 | €5,481 | +€4,531 | +477.0% |
| Suppliers | 440/4 | €950 | €5,481 | +€4,531 | +477.0% |
| Advances received on contracts in progress | 46 | €20,000 | €0 | -€20,000 | -100.0% |
| Taxes, remuneration and social security | 45 | €21,639 | €19,327 | -€2,311 | -10.7% |
| Taxes | 450/3 | €18,639 | €3,327 | -€15,311 | -82.1% |
| Remuneration and social security | 454/9 | €3,000 | €16,000 | +€13,000 | +433.3% |
| Other amounts payable | 47/48 | €47,868 | €100,811 | +€52,944 | +110.6% |
| Accrued charges and deferred income | 492/3 | €1,697 | €5,832 | +€4,135 | +243.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,550 | €63,291 | -€7,259 | -10.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€9,111 | €6,495 | +€15,606 | |
| Other operating charges | 640/8 | €7,938 | €8,095 | +€157 | +2.0% |
| Gross operating margin | 9900 | €98,338 | €103,567 | +€5,229 | +5.3% |
| Operating profit (loss) | 9901 | €28,961 | €25,686 | -€3,275 | -11.3% |
| Financial income | 75/76B | €3,629 | €2,932 | -€697 | -19.2% |
| Recurring financial income | 75 | €3,629 | €2,932 | -€697 | -19.2% |
| Financial charges | 65/66B | €5,037 | €8,310 | +€3,273 | +65.0% |
| Recurring financial charges | 65 | €5,037 | €8,310 | +€3,273 | +65.0% |
| Profit (loss) for the period before taxes | 9903 | €27,553 | €20,308 | -€7,246 | -26.3% |
| Transfer from deferred taxes | 780 | €65 | €65 | = | 0.0% |
| Income taxes | 67/77 | €8,040 | €5,740 | -€2,300 | -28.6% |
| Profit (loss) for the period | 9904 | €19,578 | €14,632 | -€4,946 | -25.3% |
| Profit (loss) for the period to be appropriated | 9905 | €19,578 | €14,632 | -€4,946 | -25.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.