HERZIM: 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.
HERZIM
Largest movements
- Tangible fixed assets -€12,998
down €12,998 (-12.5%), from €104,018 to €91,020
- Tax, wage and social debts -€17,895
down €17,895 (-95.4%), from €18,750 to €854
- Profit (loss) carried forward +€7,554
up €7,554 (+4.0%), from -€190,902 to -€183,347
- Debts after one year -€5,915
down €5,915 (-2.3%), from €256,572 to €250,657
- Other debts +€3,195
new in 2025: €3,195
- Gross operating margin +€16,511
up €16,511 (+336%), from €4,919 to €21,430
- Financial charges -€278
down €278 (-92.1%), from €302 to €24
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 | €104,027 | €91,090 | -€12,937 | -12.4% |
| Fixed assets | 21/28 | €104,018 | €91,020 | -€12,998 | -12.5% |
| Tangible fixed assets | 22/27 | €104,018 | €91,020 | -€12,998 | -12.5% |
| Land and buildings | 22 | €104,018 | €91,020 | -€12,998 | -12.5% |
| Current assets | 29/58 | €8 | €69 | +€61 | +751% |
| Cash at bank and in hand | 54/58 | €8 | €69 | +€61 | +751% |
| Total equity and liabilities | 10/49 | €104,027 | €91,090 | -€12,937 | -12.4% |
| Equity | 10/15 | -€172,302 | -€164,747 | +€7,554 | +4.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€190,902 | -€183,347 | +€7,554 | +4.0% |
| Amounts payable | 17/49 | €276,328 | €255,837 | -€20,491 | -7.4% |
| Amounts payable after more than one year | 17 | €256,572 | €250,657 | -€5,915 | -2.3% |
| Other amounts payable | 178/9 | €256,572 | €250,657 | -€5,915 | -2.3% |
| Amounts payable within one year | 42/48 | €19,756 | €5,180 | -€14,576 | -73.8% |
| Trade debts | 44 | €1,007 | €1,131 | +€125 | +12.4% |
| Suppliers | 440/4 | €1,007 | €1,131 | +€125 | +12.4% |
| Taxes, remuneration and social security | 45 | €18,750 | €854 | -€17,895 | -95.4% |
| Taxes | 450/3 | €18,750 | €854 | -€17,895 | -95.4% |
| Other amounts payable | 47/48 | - | €3,195 | +€3,195 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,998 | €12,998 | = | 0.0% |
| Other operating charges | 640/8 | €828 | €854 | +€26 | +3.1% |
| Gross operating margin | 9900 | €4,919 | €21,430 | +€16,511 | +336% |
| Operating profit (loss) | 9901 | -€8,907 | €7,578 | +€16,485 | |
| Financial charges | 65/66B | €302 | €24 | -€278 | -92.1% |
| Recurring financial charges | 65 | €302 | €24 | -€278 | -92.1% |
| Profit (loss) for the period before taxes | 9903 | -€9,209 | €7,554 | +€16,763 | |
| Profit (loss) for the period | 9904 | -€9,209 | €7,554 | +€16,763 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,209 | €7,554 | +€16,763 |
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 13 October 2026 via checked.be.