Hervée: 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.
Hervée
Largest movements
- Tangible fixed assets +€140,080
up €140,080 (+47.7%), from €293,755 to €433,835
of which Land and buildings: +€141,702
- Cash -€22,736
down €22,736 (-96.0%), from €23,680 to €944
mainly Investment in fixed assets (net) (-€150,615) and Receivables within one year (-€14,214)
- Receivables within one year +€14,214
up €14,214 (+91.5%), from €15,526 to €29,740
of which Trade receivables: +€14,100
- Debts after one year +€70,760
up €70,760 (+29.4%), from €240,304 to €311,065
- Other debts +€25,919
up €25,919 (+48.3%), from €53,693 to €79,612
- Current portion of long-term debt +€18,839
up €18,839 (+256.1%), from €7,357 to €26,197
- Trade debts +€7,879
up €7,879 (+368.9%), from €2,136 to €10,014
- Gross operating margin +€36,356
up €36,356, from -€5,254 to €31,102
- Depreciation -€7,895
down €7,895 (-42.8%), from €18,430 to €10,535
- Financial charges +€6,962
up €6,962 (+103.8%), from €6,707 to €13,669
- Other operating charges +€1,825
up €1,825 (+244.9%), from €745 to €2,571
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 | €334,169 | €464,569 | +€130,400 | +39.0% |
| Fixed assets | 21/28 | €293,755 | €433,835 | +€140,080 | +47.7% |
| Tangible fixed assets | 22/27 | €293,755 | €433,835 | +€140,080 | +47.7% |
| Land and buildings | 22 | €290,407 | €432,110 | +€141,702 | +48.8% |
| Plant, machinery and equipment | 23 | €1,129 | - | -€1,129 | |
| Furniture and vehicles | 24 | €2,218 | €1,725 | -€493 | -22.2% |
| Current assets | 29/58 | €40,415 | €30,735 | -€9,680 | -24.0% |
| Amounts receivable within one year | 40/41 | €15,526 | €29,740 | +€14,214 | +91.5% |
| Trade receivables | 40 | €15,526 | €29,626 | +€14,100 | +90.8% |
| Other amounts receivable | 41 | - | €114 | +€114 | |
| Cash at bank and in hand | 54/58 | €23,680 | €944 | -€22,736 | -96.0% |
| Deferred charges and accrued income | 490/1 | €1,209 | €50 | -€1,159 | -95.8% |
| Total equity and liabilities | 10/49 | €334,169 | €464,569 | +€130,400 | +39.0% |
| Equity | 10/15 | €23,530 | €27,686 | +€4,156 | +17.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,530 | €26,686 | +€4,156 | +18.4% |
| Amounts payable | 17/49 | €310,639 | €436,884 | +€126,245 | +40.6% |
| Amounts payable after more than one year | 17 | €240,304 | €311,065 | +€70,760 | +29.4% |
| Financial debts | 170/4 | €240,304 | €311,065 | +€70,760 | +29.4% |
| Amounts payable within one year | 42/48 | €68,835 | €122,551 | +€53,716 | +78.0% |
| Current portion of amounts payable after more than one year | 42 | €7,357 | €26,197 | +€18,839 | +256.1% |
| Trade debts | 44 | €2,136 | €10,014 | +€7,879 | +368.9% |
| Suppliers | 440/4 | €2,136 | €10,014 | +€7,879 | +368.9% |
| Taxes, remuneration and social security | 45 | €5,649 | €6,728 | +€1,079 | +19.1% |
| Taxes | 450/3 | €5,649 | €6,728 | +€1,079 | +19.1% |
| Other amounts payable | 47/48 | €53,693 | €79,612 | +€25,919 | +48.3% |
| Accrued charges and deferred income | 492/3 | €1,500 | €3,268 | +€1,768 | +117.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,430 | €10,535 | -€7,895 | -42.8% |
| Other operating charges | 640/8 | €745 | €2,571 | +€1,825 | +244.9% |
| Gross operating margin | 9900 | -€5,254 | €31,102 | +€36,356 | |
| Operating profit (loss) | 9901 | -€24,429 | €17,997 | +€42,426 | |
| Financial income | 75/76B | €1 | €11 | +€10 | +889.7% |
| Recurring financial income | 75 | €1 | €11 | +€10 | +889.7% |
| Financial charges | 65/66B | €6,707 | €13,669 | +€6,962 | +103.8% |
| Recurring financial charges | 65 | €6,707 | €13,669 | +€6,962 | +103.8% |
| Profit (loss) for the period before taxes | 9903 | -€31,135 | €4,338 | +€35,473 | |
| Income taxes | 67/77 | €193 | €182 | -€10 | -5.3% |
| Profit (loss) for the period | 9904 | -€31,328 | €4,156 | +€35,483 | |
| Profit (loss) for the period to be appropriated | 9905 | -€31,328 | €4,156 | +€35,483 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.