IMMO HERTOGEN: 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.
IMMO HERTOGEN
Largest movements
- Cash +€3,853
up €3,853 (+28.6%), from €13,453 to €17,306
mainly Trade debts (+€4,261) and Depreciation (+€3,520)
- Tangible fixed assets -€3,520
down €3,520 (-17.6%), from €19,986 to €16,466
of which Furniture and vehicles: -€3,520
- Deferred charges and accrued income +€882
up €882 (+68.7%), from €1,284 to €2,166
- Trade debts +€4,261
up €4,261 (+103%), from €4,143 to €8,404
- Profit (loss) carried forward -€4,215
down €4,215 (-31.8%), from -€13,235 to -€17,450
- Tax, wage and social debts +€2,387
up €2,387 (+184%), from €1,295 to €3,682
- Short-term financial debts -€957
down €957 (-16.0%), from €5,967 to €5,009
- Other debts -€530
down €530 (-100%), from €530 to €0
- Gross operating margin +€3,945
up €3,945, from -€1,587 to €2,358
- Financial charges +€383
up €383 (+35.5%), from €1,077 to €1,460
- Other operating charges -€195
down €195 (-12.3%), from €1,576 to €1,381
- Taxes -€44
down €44 (-16.9%), from €259 to €215
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 | €37,627 | €38,573 | +€946 | +2.5% |
| Fixed assets | 21/28 | €19,986 | €16,466 | -€3,520 | -17.6% |
| Tangible fixed assets | 22/27 | €19,986 | €16,466 | -€3,520 | -17.6% |
| Land and buildings | 22 | €11,562 | €11,562 | = | 0.0% |
| Furniture and vehicles | 24 | €8,424 | €4,904 | -€3,520 | -41.8% |
| Current assets | 29/58 | €17,641 | €22,107 | +€4,466 | +25.3% |
| Amounts receivable within one year | 40/41 | €2,904 | €2,635 | -€269 | -9.3% |
| Trade receivables | 40 | €2,904 | €1,135 | -€1,769 | -60.9% |
| Other amounts receivable | 41 | €0 | €1,500 | +€1,500 | |
| Cash at bank and in hand | 54/58 | €13,453 | €17,306 | +€3,853 | +28.6% |
| Deferred charges and accrued income | 490/1 | €1,284 | €2,166 | +€882 | +68.7% |
| Total equity and liabilities | 10/49 | €37,627 | €38,573 | +€946 | +2.5% |
| Equity | 10/15 | €25,691 | €21,477 | -€4,215 | -16.4% |
| Contributions | 10/11 | €6,605 | €6,605 | = | 0.0% |
| Reserves | 13 | €32,321 | €32,321 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €30,421 | €30,421 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,235 | -€17,450 | -€4,215 | -31.8% |
| Amounts payable | 17/49 | €11,936 | €17,096 | +€5,161 | +43.2% |
| Amounts payable within one year | 42/48 | €11,936 | €17,096 | +€5,161 | +43.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €5,967 | €5,009 | -€957 | -16.0% |
| Credit institutions | 430/8 | €5,967 | €5,009 | -€957 | -16.0% |
| Trade debts | 44 | €4,143 | €8,404 | +€4,261 | +103% |
| Suppliers | 440/4 | €4,143 | €8,404 | +€4,261 | +103% |
| Taxes, remuneration and social security | 45 | €1,295 | €3,682 | +€2,387 | +184% |
| Taxes | 450/3 | €1,295 | €3,682 | +€2,387 | +184% |
| Other amounts payable | 47/48 | €530 | €0 | -€530 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,520 | €3,520 | = | 0.0% |
| Other operating charges | 640/8 | €1,576 | €1,381 | -€195 | -12.3% |
| Gross operating margin | 9900 | -€1,587 | €2,358 | +€3,945 | |
| Operating profit (loss) | 9901 | -€6,682 | -€2,543 | +€4,139 | +61.9% |
| Financial income | 75/76B | €0 | €4 | +€3 | +654% |
| Recurring financial income | 75 | €0 | €4 | +€3 | +654% |
| Financial charges | 65/66B | €1,077 | €1,460 | +€383 | +35.5% |
| Recurring financial charges | 65 | €1,077 | €1,460 | +€383 | +35.5% |
| Profit (loss) for the period before taxes | 9903 | -€7,759 | -€3,999 | +€3,760 | +48.5% |
| Income taxes | 67/77 | €259 | €215 | -€44 | -16.9% |
| Profit (loss) for the period | 9904 | -€8,018 | -€4,215 | +€3,803 | +47.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,018 | -€4,215 | +€3,803 | +47.4% |
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 20 October 2026 via checked.be.