HVAC – Hermans: 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.
HVAC – Hermans
Largest movements
- Tangible fixed assets -€3,636
down €3,636 (-52.3%), from €6,949 to €3,312
of which Plant, machinery and equipment: -€2,222
- Receivables within one year -€3,527
down €3,527 (-33.3%), from €10,589 to €7,061
of which Trade receivables: -€6,289
- Deferred charges and accrued income +€1,320
up €1,320 (+113%), from €1,167 to €2,487
- Cash -€989
down €989 (-3.7%), from €26,939 to €25,950
mainly Tax, wage and social debts (-€6,777) and Net result for the year (-€2,611)
- Stocks and contracts -€924
down €924 (-10.9%), from €8,464 to €7,540
- Tax, wage and social debts -€6,777
down €6,777 (-62.9%), from €10,766 to €3,989
- Profit (loss) carried forward -€2,611
new in 2025: -€2,611
- Trade debts +€1,104
up €1,104 (+346%), from €319 to €1,422
- Gross operating margin -€8,784
down €8,784 (-69.2%), from €12,690 to €3,907
- Taxes -€1,737
down €1,737 (-92.9%), from €1,869 to €132
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 | €54,108 | €46,351 | -€7,757 | -14.3% |
| Fixed assets | 21/28 | €6,949 | €3,312 | -€3,636 | -52.3% |
| Tangible fixed assets | 22/27 | €6,949 | €3,312 | -€3,636 | -52.3% |
| Plant, machinery and equipment | 23 | €5,095 | €2,873 | -€2,222 | -43.6% |
| Furniture and vehicles | 24 | €1,854 | €440 | -€1,415 | -76.3% |
| Current assets | 29/58 | €47,159 | €43,039 | -€4,120 | -8.7% |
| Stocks and contracts in progress | 3 | €8,464 | €7,540 | -€924 | -10.9% |
| Stocks | 30/36 | €8,464 | €7,540 | -€924 | -10.9% |
| Amounts receivable within one year | 40/41 | €10,589 | €7,061 | -€3,527 | -33.3% |
| Trade receivables | 40 | €6,289 | - | -€6,289 | |
| Other amounts receivable | 41 | €4,300 | €7,061 | +€2,762 | +64.2% |
| Cash at bank and in hand | 54/58 | €26,939 | €25,950 | -€989 | -3.7% |
| Deferred charges and accrued income | 490/1 | €1,167 | €2,487 | +€1,320 | +113% |
| Total equity and liabilities | 10/49 | €54,108 | €46,351 | -€7,757 | -14.3% |
| Equity | 10/15 | €22,965 | €20,354 | -€2,611 | -11.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €20,465 | €20,465 | = | 0.0% |
| Distributable reserves | 133 | €20,465 | €20,465 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€2,611 | -€2,611 | |
| Amounts payable | 17/49 | €31,143 | €25,997 | -€5,146 | -16.5% |
| Amounts payable within one year | 42/48 | €27,706 | €22,542 | -€5,163 | -18.6% |
| Trade debts | 44 | €319 | €1,422 | +€1,104 | +346% |
| Suppliers | 440/4 | €319 | €1,422 | +€1,104 | +346% |
| Taxes, remuneration and social security | 45 | €10,766 | €3,989 | -€6,777 | -62.9% |
| Taxes | 450/3 | €10,766 | €3,989 | -€6,777 | -62.9% |
| Other amounts payable | 47/48 | €16,621 | €17,131 | +€510 | +3.1% |
| Accrued charges and deferred income | 492/3 | €3,437 | €3,455 | +€17 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,519 | €3,636 | +€118 | +3.3% |
| Other operating charges | 640/8 | €130 | €132 | +€2 | +1.5% |
| Gross operating margin | 9900 | €12,690 | €3,907 | -€8,784 | -69.2% |
| Operating profit (loss) | 9901 | €9,042 | €138 | -€8,903 | -98.5% |
| Financial income | 75/76B | €10 | €30 | +€19 | +194% |
| Recurring financial income | 75 | €10 | €30 | +€19 | +194% |
| Financial charges | 65/66B | €2,538 | €2,647 | +€109 | +4.3% |
| Recurring financial charges | 65 | €2,538 | €2,647 | +€109 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €6,514 | -€2,479 | -€8,993 | |
| Income taxes | 67/77 | €1,869 | €132 | -€1,737 | -92.9% |
| Profit (loss) for the period | 9904 | €4,645 | -€2,611 | -€7,256 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,645 | -€2,611 | -€7,256 |
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 28 October 2026 via checked.be.