Herwebo: 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.
What changed
Herwebo
NACE 41.001, General construction of residential buildings
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€240,986
2024 · €79,880+€161,106
Equity
€1.1m
2024 · €1.1m+€13,880
Cash
€151,571
2024 · €82,940+€68,632
Balance sheet total
€7.6m
2024 · €7.4m+€202,702
Largest movements
Assets
- Receivables within one year +€246,269
up €246,269 (+16.4%), from €1.5m to €1.7m
of which Trade receivables: +€254,611
- Financial fixed assets +€200,496
up €200,496 (+574.4%), from €34,905 to €235,401
- Tangible fixed assets -€185,448
down €185,448 (-3.9%), from €4.8m to €4.6m
of which Leasing and similar rights: -€242,588
- Stocks and contracts -€144,112
down €144,112 (-16.1%), from €893,486 to €749,374
of which Contracts in progress: -€125,000
Equity and liabilities
- Trade debts -€377,996
down €377,996 (-36.9%), from €1.0m to €646,382
- Short-term financial debts +€300,000
up €300,000 (+120.0%), from €250,000 to €550,000
- Other debts +€232,916
up €232,916 (+2689.3%), from €8,661 to €241,577
Income statement
- Gross operating margin +€573,635
up €573,635 (+37.7%), from €1.5m to €2.1m
- Depreciation +€209,567
up €209,567 (+90.1%), from €232,470 to €442,037
- Staff costs +€93,516
up €93,516 (+8.6%), from €1.1m to €1.2m
- Financial charges +€74,359
up €74,359 (+92.3%), from €80,550 to €154,909
- Taxes +€54,472
up €54,472 (+681.9%), from €7,988 to €62,460
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.
Result 2024
€79,880
Gross operating margin
+€573,635
Staff costs
-€93,516
Depreciation
-€209,567
Other operating charges
+€1,422
Other operating items
+€17,074
Financial income
+€890
Financial charges
-€74,359
Taxes
-€54,472
Result 2025
€240,986
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.
From operations
+€446,303
Investment
-€457,085
Financing
+€79,414
Cash 2024
€82,940
From operations (derived)
+€446,303
Net result for the year
+€240,986
Depreciation
+€442,037
Stocks and contracts
+€144,112
Receivables within one year
-€246,269
Deferred charges and accrued income
-€16,865
Trade debts
-€377,996
Tax, wage and social debts
+€27,382
Other debts
+€232,916
Investment (derived)
-€457,085
Investment in fixed assets (net)
-€457,085
Financing
+€79,414
Debts after one year
-€48,338
Current portion of long-term debt
+€54,858
Short-term financial debts
+€300,000
Contributions, distributions and other
-€227,106
Cash 2025
€151,571
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,370,897 | €7,573,599 | +€202,702 | +2.8% |
| Fixed assets | 21/28 | €4,809,094 | €4,824,142 | +€15,048 | +0.3% |
| Tangible fixed assets | 22/27 | €4,774,189 | €4,588,741 | -€185,448 | -3.9% |
| Land and buildings | 22 | €945,629 | €882,632 | -€62,997 | -6.7% |
| Plant, machinery and equipment | 23 | €331,543 | €469,115 | +€137,572 | +41.5% |
| Furniture and vehicles | 24 | €68,976 | €55,717 | -€13,259 | -19.2% |
| Leasing and similar rights | 25 | €3,419,148 | €3,176,560 | -€242,588 | -7.1% |
| Other tangible fixed assets | 26 | €8,893 | €4,717 | -€4,176 | -47.0% |
| Financial fixed assets | 28 | €34,905 | €235,401 | +€200,496 | +574.4% |
| Current assets | 29/58 | €2,561,803 | €2,749,457 | +€187,654 | +7.3% |
| Stocks and contracts in progress | 3 | €893,486 | €749,374 | -€144,112 | -16.1% |
| Stocks | 30/36 | €643,486 | €624,374 | -€19,112 | -3.0% |
| Contracts in progress | 37 | €250,000 | €125,000 | -€125,000 | -50.0% |
| Amounts receivable within one year | 40/41 | €1,502,722 | €1,748,991 | +€246,269 | +16.4% |
| Trade receivables | 40 | €922,451 | €1,177,062 | +€254,611 | +27.6% |
| Other amounts receivable | 41 | €580,271 | €571,929 | -€8,342 | -1.4% |
| Cash at bank and in hand | 54/58 | €82,940 | €151,571 | +€68,632 | +82.7% |
| Deferred charges and accrued income | 490/1 | €82,655 | €99,521 | +€16,865 | +20.4% |
| Total equity and liabilities | 10/49 | €7,370,897 | €7,573,599 | +€202,702 | +2.8% |
| Equity | 10/15 | €1,132,747 | €1,146,627 | +€13,880 | +1.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,126,547 | €1,140,427 | +€13,880 | +1.2% |
| Distributable reserves | 133 | €1,126,547 | €1,140,427 | +€13,880 | +1.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €6,238,149 | €6,426,972 | +€188,822 | +3.0% |
| Amounts payable after more than one year | 17 | €3,980,879 | €3,932,541 | -€48,338 | -1.2% |
| Financial debts | 170/4 | €3,980,879 | €3,932,541 | -€48,338 | -1.2% |
| Amounts payable within one year | 42/48 | €2,257,270 | €2,494,430 | +€237,160 | +10.5% |
| Current portion of amounts payable after more than one year | 42 | €374,770 | €429,628 | +€54,858 | +14.6% |
| Financial debts | 43 | €250,000 | €550,000 | +€300,000 | +120.0% |
| Credit institutions | 430/8 | €250,000 | €550,000 | +€300,000 | +120.0% |
| Trade debts | 44 | €1,024,378 | €646,382 | -€377,996 | -36.9% |
| Suppliers | 440/4 | €1,024,378 | €646,382 | -€377,996 | -36.9% |
| Advances received on contracts in progress | 46 | €460,739 | €460,739 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €138,722 | €166,104 | +€27,382 | +19.7% |
| Taxes | 450/3 | €25,223 | €48,641 | +€23,418 | +92.8% |
| Remuneration and social security | 454/9 | €113,498 | €117,463 | +€3,964 | +3.5% |
| Other amounts payable | 47/48 | €8,661 | €241,577 | +€232,916 | +2689.3% |
| Non-recurring operating income | 76A | €1,000 | €0 | -€1,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,088,779 | €1,182,296 | +€93,516 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €232,470 | €442,037 | +€209,567 | +90.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €16,889 | €15,467 | -€1,422 | -8.4% |
| Non-recurring operating charges | 66A | €17,074 | €0 | -€17,074 | -100.0% |
| Gross operating margin | 9900 | €1,522,647 | €2,096,283 | +€573,635 | +37.7% |
| Operating profit (loss) | 9901 | €167,436 | €456,484 | +€289,048 | +172.6% |
| Financial income | 75/76B | €982 | €1,872 | +€890 | +90.6% |
| Recurring financial income | 75 | €982 | €1,872 | +€890 | +90.6% |
| Financial charges | 65/66B | €80,550 | €154,909 | +€74,359 | +92.3% |
| Recurring financial charges | 65 | €80,550 | €154,909 | +€74,359 | +92.3% |
| Profit (loss) for the period before taxes | 9903 | €87,868 | €303,447 | +€215,579 | +245.3% |
| Income taxes | 67/77 | €7,988 | €62,460 | +€54,472 | +681.9% |
| Profit (loss) for the period | 9904 | €79,880 | €240,986 | +€161,106 | +201.7% |
| Profit (loss) for the period to be appropriated | 9905 | €79,880 | €240,986 | +€161,106 | +201.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.