HERZO: 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.
HERZO
Largest movements
- Receivables within one year -€37,381
down €37,381 (-41.1%), from €91,053 to €53,673
of which Trade receivables: -€27,157
- Cash +€6,206
up €6,206 (+297.4%), from €2,087 to €8,292
mainly Receivables within one year (+€37,381) and Other debts (+€11,641)
- Trade debts -€36,092
down €36,092 (-30.8%), from €117,335 to €81,243
- Accrued charges and deferred income -€15,000
down €15,000 (-9.6%), from €156,951 to €141,951
- Other debts +€11,641
new in 2024: €11,641
- Profit (loss) carried forward +€6,175
up €6,175 (+5.5%), from -€111,621 to -€105,446
- Gross operating margin +€79,659
up €79,659 (+2897.5%), from €2,749 to €82,408
- Staff costs +€2,786
up €2,786 (+4.1%), from €68,060 to €70,846
- Other operating charges +€2,713
new in 2024: €2,713
- Depreciation -€1,812
down €1,812 (-53.2%), from €3,408 to €1,596
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €204,563 | €172,092 | -€32,471 | -15.9% |
| Fixed assets | 21/28 | €8,692 | €7,096 | -€1,596 | -18.4% |
| Tangible fixed assets | 22/27 | €2,126 | €529 | -€1,596 | -75.1% |
| Plant, machinery and equipment | 23 | €1,199 | €529 | -€669 | -55.8% |
| Furniture and vehicles | 24 | €927 | - | -€927 | |
| Financial fixed assets | 28 | €6,567 | €6,567 | = | 0.0% |
| Current assets | 29/58 | €195,871 | €164,996 | -€30,875 | -15.8% |
| Stocks and contracts in progress | 3 | €4,980 | €5,280 | +€300 | +6.0% |
| Stocks | 30/36 | €4,980 | €5,280 | +€300 | +6.0% |
| Amounts receivable within one year | 40/41 | €91,053 | €53,673 | -€37,381 | -41.1% |
| Trade receivables | 40 | €80,830 | €53,673 | -€27,157 | -33.6% |
| Other amounts receivable | 41 | €10,223 | - | -€10,223 | |
| Cash at bank and in hand | 54/58 | €2,087 | €8,292 | +€6,206 | +297.4% |
| Deferred charges and accrued income | 490/1 | €97,751 | €97,751 | = | 0.0% |
| Total equity and liabilities | 10/49 | €204,563 | €172,092 | -€32,471 | -15.9% |
| Equity | 10/15 | -€91,170 | -€84,995 | +€6,175 | +6.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Other | 1319 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€111,621 | -€105,446 | +€6,175 | +5.5% |
| Amounts payable | 17/49 | €295,734 | €257,087 | -€38,646 | -13.1% |
| Amounts payable within one year | 42/48 | €138,783 | €115,137 | -€23,646 | -17.0% |
| Trade debts | 44 | €117,335 | €81,243 | -€36,092 | -30.8% |
| Suppliers | 440/4 | €117,335 | €81,243 | -€36,092 | -30.8% |
| Taxes, remuneration and social security | 45 | €21,448 | €22,253 | +€805 | +3.8% |
| Taxes | 450/3 | €4,060 | €5,195 | +€1,135 | +28.0% |
| Remuneration and social security | 454/9 | €17,388 | €17,058 | -€330 | -1.9% |
| Other amounts payable | 47/48 | - | €11,641 | +€11,641 | |
| Accrued charges and deferred income | 492/3 | €156,951 | €141,951 | -€15,000 | -9.6% |
| Remuneration, social security and pensions | 62 | €68,060 | €70,846 | +€2,786 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,408 | €1,596 | -€1,812 | -53.2% |
| Other operating charges | 640/8 | - | €2,713 | +€2,713 | |
| Gross operating margin | 9900 | €2,749 | €82,408 | +€79,659 | +2897.5% |
| Operating profit (loss) | 9901 | -€68,718 | €7,253 | +€75,972 | |
| Financial income | 75/76B | €638 | €152 | -€486 | -76.2% |
| Recurring financial income | 75 | €638 | €152 | -€486 | -76.2% |
| Financial charges | 65/66B | €1,499 | €1,230 | -€269 | -17.9% |
| Recurring financial charges | 65 | €1,499 | €1,230 | -€269 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | -€69,579 | €6,175 | +€75,754 | |
| Profit (loss) for the period | 9904 | -€69,579 | €6,175 | +€75,754 | |
| Profit (loss) for the period to be appropriated | 9905 | -€69,579 | €6,175 | +€75,754 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.