HERVOTRANS: 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.
HERVOTRANS
Largest movements
- Cash -€115,740
down €115,740 (-29.0%), from €398,534 to €282,795
mainly Contributions, distributions and other (-€300,000) and Trade debts (-€43,190)
- Tangible fixed assets -€42,416
down €42,416 (-25.8%), from €164,474 to €122,058
of which Leasing and similar rights: -€21,340
- Reserves -€61,475
down €61,475 (-11.0%), from €559,707 to €498,231
- Trade debts -€43,190
down €43,190 (-7.8%), from €554,080 to €510,890
- Debts after one year -€20,031
down €20,031 (-4.3%), from €471,143 to €451,111
of which Financial debts: -€20,031
- Gross operating margin -€54,634
down €54,634 (-7.5%), from €724,923 to €670,289
- Write-downs -€20,070
down €20,070, from €11,615 to -€8,456
- Taxes +€13,658
up €13,658 (+37.9%), from €36,019 to €49,678
- Staff costs -€9,239
down €9,239 (-2.7%), from €344,410 to €335,171
- Financial income -€8,703
down €8,703 (-23.2%), from €37,595 to €28,892
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 | €1,897,549 | €1,750,823 | -€146,726 | -7.7% |
| Fixed assets | 21/28 | €164,474 | €122,058 | -€42,416 | -25.8% |
| Tangible fixed assets | 22/27 | €164,474 | €122,058 | -€42,416 | -25.8% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | 0.0% |
| Furniture and vehicles | 24 | €22,375 | €12,492 | -€9,883 | -44.2% |
| Leasing and similar rights | 25 | €54,899 | €33,559 | -€21,340 | -38.9% |
| Other tangible fixed assets | 26 | €87,200 | €76,008 | -€11,192 | -12.8% |
| Current assets | 29/58 | €1,733,076 | €1,628,765 | -€104,310 | -6.0% |
| Amounts receivable after more than one year | 29 | €289,468 | €285,116 | -€4,352 | -1.5% |
| Other amounts receivable | 291 | €289,468 | €285,116 | -€4,352 | -1.5% |
| Amounts receivable within one year | 40/41 | €1,041,868 | €1,057,531 | +€15,663 | +1.5% |
| Trade receivables | 40 | €997,106 | €1,033,694 | +€36,588 | +3.7% |
| Other amounts receivable | 41 | €44,762 | €23,838 | -€20,924 | -46.7% |
| Cash at bank and in hand | 54/58 | €398,534 | €282,795 | -€115,740 | -29.0% |
| Deferred charges and accrued income | 490/1 | €3,205 | €3,323 | +€118 | +3.7% |
| Total equity and liabilities | 10/49 | €1,897,549 | €1,750,823 | -€146,726 | -7.7% |
| Equity | 10/15 | €578,307 | €516,831 | -€61,475 | -10.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €559,707 | €498,231 | -€61,475 | -11.0% |
| Distributable reserves | 133 | €559,707 | €498,231 | -€61,475 | -11.0% |
| Amounts payable | 17/49 | €1,319,243 | €1,233,992 | -€85,251 | -6.5% |
| Amounts payable after more than one year | 17 | €471,143 | €451,111 | -€20,031 | -4.3% |
| Financial debts | 170/4 | €30,143 | €10,111 | -€20,031 | -66.5% |
| Other amounts payable | 178/9 | €441,000 | €441,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €847,998 | €782,777 | -€65,221 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €19,779 | €20,031 | +€252 | +1.3% |
| Trade debts | 44 | €554,080 | €510,890 | -€43,190 | -7.8% |
| Suppliers | 440/4 | €554,080 | €510,890 | -€43,190 | -7.8% |
| Taxes, remuneration and social security | 45 | €88,770 | €70,633 | -€18,138 | -20.4% |
| Taxes | 450/3 | €25,491 | €22,190 | -€3,301 | -12.9% |
| Remuneration and social security | 454/9 | €63,280 | €48,443 | -€14,837 | -23.4% |
| Other amounts payable | 47/48 | €185,368 | €181,223 | -€4,145 | -2.2% |
| Accrued charges and deferred income | 492/3 | €102 | €104 | +€2 | +2.0% |
| Remuneration, social security and pensions | 62 | €344,410 | €335,171 | -€9,239 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,523 | €46,289 | -€1,234 | -2.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,615 | -€8,456 | -€20,070 | |
| Other operating charges | 640/8 | €6,934 | €4,659 | -€2,275 | -32.8% |
| Gross operating margin | 9900 | €724,923 | €670,289 | -€54,634 | -7.5% |
| Operating profit (loss) | 9901 | €314,441 | €292,625 | -€21,816 | -6.9% |
| Financial income | 75/76B | €37,595 | €28,892 | -€8,703 | -23.2% |
| Recurring financial income | 75 | €37,595 | €28,892 | -€8,703 | -23.2% |
| Financial charges | 65/66B | €36,806 | €33,314 | -€3,491 | -9.5% |
| Recurring financial charges | 65 | €36,806 | €33,314 | -€3,491 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €315,230 | €288,202 | -€27,028 | -8.6% |
| Income taxes | 67/77 | €36,019 | €49,678 | +€13,658 | +37.9% |
| Profit (loss) for the period | 9904 | €279,211 | €238,525 | -€40,686 | -14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €279,211 | €238,525 | -€40,686 | -14.6% |
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 15 October 2026 via checked.be.