Herwynaert: 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.
Herwynaert
Largest movements
- Receivables within one year +€114,204
up €114,204 (+1,058%), from €10,796 to €125,000
- Cash +€25,931
up €25,931 (+14.1%), from €183,270 to €209,201
mainly Net result for the year (+€325,729) and Other debts (+€123,655)
- Tangible fixed assets -€20,066
down €20,066 (-21.2%), from €94,522 to €74,456
of which Furniture and vehicles: -€20,735
- Financial fixed assets -€12,067
down €12,067 (-70.7%), from €17,067 to €5,000
- Other debts +€123,655
up €123,655 (+76.0%), from €162,782 to €286,437
- Debts after one year -€19,516
down €19,516 (-26.3%), from €74,334 to €54,819
- Financial income -€133,194
down €133,194 (-81.7%), from €162,973 to €29,779
- Gross operating margin -€109,582
down €109,582 (-20.4%), from €537,204 to €427,622
- Taxes -€30,071
down €30,071 (-22.5%), from €133,501 to €103,430
- Depreciation +€11,295
up €11,295 (+109%), from €10,320 to €21,615
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 | €307,557 | €415,600 | +€108,043 | +35.1% |
| Fixed assets | 21/28 | €111,589 | €79,456 | -€32,133 | -28.8% |
| Tangible fixed assets | 22/27 | €94,522 | €74,456 | -€20,066 | -21.2% |
| Plant, machinery and equipment | 23 | €1,666 | €2,335 | +€670 | +40.2% |
| Furniture and vehicles | 24 | €92,856 | €72,120 | -€20,735 | -22.3% |
| Financial fixed assets | 28 | €17,067 | €5,000 | -€12,067 | -70.7% |
| Current assets | 29/58 | €195,969 | €336,144 | +€140,176 | +71.5% |
| Amounts receivable within one year | 40/41 | €10,796 | €125,000 | +€114,204 | +1,058% |
| Other amounts receivable | 41 | €10,796 | €125,000 | +€114,204 | +1,058% |
| Cash at bank and in hand | 54/58 | €183,270 | €209,201 | +€25,931 | +14.1% |
| Deferred charges and accrued income | 490/1 | €1,902 | €1,943 | +€41 | +2.2% |
| Total equity and liabilities | 10/49 | €307,557 | €415,600 | +€108,043 | +35.1% |
| Equity | 10/15 | €21,128 | €20,857 | -€271 | -1.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €668 | €397 | -€271 | -40.6% |
| Amounts payable | 17/49 | €286,430 | €394,743 | +€108,314 | +37.8% |
| Amounts payable after more than one year | 17 | €74,334 | €54,819 | -€19,516 | -26.3% |
| Financial debts | 170/4 | €74,334 | €54,819 | -€19,516 | -26.3% |
| Amounts payable within one year | 42/48 | €211,044 | €339,858 | +€128,814 | +61.0% |
| Current portion of amounts payable after more than one year | 42 | €18,800 | €19,516 | +€716 | +3.8% |
| Financial debts | 43 | €16,024 | €16,139 | +€115 | +0.7% |
| Credit institutions | 430/8 | €16,024 | €16,139 | +€115 | +0.7% |
| Trade debts | 44 | €827 | €1,726 | +€899 | +109% |
| Suppliers | 440/4 | €827 | €1,726 | +€899 | +109% |
| Taxes, remuneration and social security | 45 | €12,611 | €16,040 | +€3,430 | +27.2% |
| Taxes | 450/3 | €12,611 | €16,040 | +€3,430 | +27.2% |
| Other amounts payable | 47/48 | €162,782 | €286,437 | +€123,655 | +76.0% |
| Accrued charges and deferred income | 492/3 | €1,052 | €67 | -€985 | -93.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,320 | €21,615 | +€11,295 | +109% |
| Other operating charges | 640/8 | €645 | €590 | -€55 | -8.6% |
| Gross operating margin | 9900 | €537,204 | €427,622 | -€109,582 | -20.4% |
| Operating profit (loss) | 9901 | €526,238 | €405,417 | -€120,821 | -23.0% |
| Financial income | 75/76B | €162,973 | €29,779 | -€133,194 | -81.7% |
| Recurring financial income | 75 | €162,973 | €29,779 | -€133,194 | -81.7% |
| Financial charges | 65/66B | €3,409 | €6,037 | +€2,628 | +77.1% |
| Recurring financial charges | 65 | €3,409 | €6,037 | +€2,628 | +77.1% |
| Profit (loss) for the period before taxes | 9903 | €685,803 | €429,159 | -€256,644 | -37.4% |
| Income taxes | 67/77 | €133,501 | €103,430 | -€30,071 | -22.5% |
| Profit (loss) for the period | 9904 | €552,302 | €325,729 | -€226,573 | -41.0% |
| Profit (loss) for the period to be appropriated | 9905 | €552,302 | €325,729 | -€226,573 | -41.0% |
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 24 October 2026 via checked.be.