L'HERMITAGE: what changed
Two fiscal 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.
What changed
L'HERMITAGE
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€285,279
2024 · €15,708-€300,987
Equity
€3.0m
2024 · €3.3m-€285,279
Cash
€137,706
2024 · €145,049-€7,343
Balance sheet total
€36.9m
2024 · €37.9m-€975,316
Largest movements
Assets
- Receivables after one year -€1.8m
down €1.8m (-60.8%), from €3.0m to €1.2m
- Tangible fixed assets +€1.3m
up €1.3m (+4.4%), from €29.0m to €30.3m
of which Land and buildings: +€917,848
- Financial fixed assets -€1.1m
down €1.1m (-49.4%), from €2.2m to €1.1m
- Receivables within one year +€567,146
up €567,146 (+36.8%), from €1.5m to €2.1m
of which Other amounts receivable: +€545,149
Equity and liabilities
- Debts after one year -€2.5m
down €2.5m (-7.9%), from €31.1m to €28.7m
- Current portion of long-term debt +€1.4m
up €1.4m (+154.2%), from €938,574 to €2.4m
- Other debts +€470,853
up €470,853 (+29.3%), from €1.6m to €2.1m
Income statement
- Financial income -€185,244
down €185,244 (-61.3%), from €302,316 to €117,072
- Depreciation +€65,267
up €65,267 (+4.3%), from €1.5m to €1.6m
- Staff costs -€45,001
down €45,001 (-23.0%), from €195,721 to €150,720
- Write-downs -€40,178
down €40,178, from €36,756 to -€3,422
- Other operating charges +€36,976
up €36,976 (+18.7%), from €197,445 to €234,421
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.
Result 2024
€15,708
Gross operating margin
-€21,988
Staff costs
+€45,001
Depreciation
-€65,267
Write-downs
+€40,178
Other operating charges
-€36,976
Other operating items
-€73,656
Financial income
-€185,244
Financial charges
+€31,409
Taxes
-€34,444
Result 2025
-€285,279
Cash bridge derived
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.
From operations
+€2.8m
Investment
-€1.8m
Financing
-€1.0m
Cash 2024
€145,049
From operations (derived)
+€2.8m
Net result for the year
-€285,279
Depreciation
+€1.6m
Receivables after one year
+€1.8m
Stocks and contracts
-€95,927
Receivables within one year
-€567,146
Deferred charges and accrued income
+€9,232
Provisions
-€39,123
Trade debts
-€84,236
Tax, wage and social debts
-€27,748
Other debts
+€470,853
Accrued charges and deferred income
+€1,818
Investment (derived)
-€1.8m
Investment in fixed assets (net)
-€1.8m
Financing
-€1.0m
Debts after one year
-€2.5m
Current portion of long-term debt
+€1.4m
Cash 2025
€137,706
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €37,853,287 | €36,877,971 | -€975,316 | -2.6% |
| Fixed assets | 21/28 | €31,150,341 | €31,371,820 | +€221,480 | +0.7% |
| Tangible fixed assets | 22/27 | €28,993,306 | €30,281,079 | +€1.3m | +4.4% |
| Land and buildings | 22 | €28,952,355 | €29,870,203 | +€917,848 | +3.2% |
| Plant, machinery and equipment | 23 | €10,566 | €6,837 | -€3,729 | -35.3% |
| Furniture and vehicles | 24 | €30,386 | €19,039 | -€11,346 | -37.3% |
| Assets under construction and advance payments | 27 | - | €385,000 | +€385,000 | |
| Financial fixed assets | 28 | €2,157,034 | €1,090,741 | -€1.1m | -49.4% |
| Current assets | 29/58 | €6,702,946 | €5,506,151 | -€1.2m | -17.9% |
| Amounts receivable after more than one year | 29 | €3,032,080 | €1,188,787 | -€1.8m | -60.8% |
| Other amounts receivable | 291 | €3,032,080 | €1,188,787 | -€1.8m | -60.8% |
| Stocks and contracts in progress | 3 | €1,899,483 | €1,995,410 | +€95,927 | +5.1% |
| Stocks | 30/36 | €1,899,483 | €1,995,410 | +€95,927 | +5.1% |
| Amounts receivable within one year | 40/41 | €1,540,725 | €2,107,871 | +€567,146 | +36.8% |
| Trade receivables | 40 | €273,413 | €295,409 | +€21,996 | +8.0% |
| Other amounts receivable | 41 | €1,267,312 | €1,812,462 | +€545,149 | +43.0% |
| Cash at bank and in hand | 54/58 | €145,049 | €137,706 | -€7,343 | -5.1% |
| Deferred charges and accrued income | 490/1 | €85,609 | €76,377 | -€9,232 | -10.8% |
| Total equity and liabilities | 10/49 | €37,853,287 | €36,877,971 | -€975,316 | -2.6% |
| Equity | 10/15 | €3,322,763 | €3,037,484 | -€285,279 | -8.6% |
| Contributions | 10/11 | €736,512 | €736,512 | = | 0.0% |
| Capital | 10 | €736,512 | €736,512 | = | 0.0% |
| Issued capital | 100 | €736,512 | €736,512 | = | 0.0% |
| Reserves | 13 | €2,024,698 | €1,966,407 | -€58,291 | -2.9% |
| Non-distributable reserves | 130/1 | €73,651 | €73,651 | = | 0.0% |
| Legal reserve | 130 | €73,651 | €73,651 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,345,780 | €1,287,489 | -€58,291 | -4.3% |
| Distributable reserves | 133 | €605,267 | €605,267 | = | 0.0% |
| Profit (loss) carried forward | 14 | €561,552 | €334,565 | -€226,987 | -40.4% |
| Provisions and deferred taxes | 16 | €672,916 | €633,793 | -€39,123 | -5.8% |
| Deferred taxes | 168 | €672,916 | €633,793 | -€39,123 | -5.8% |
| Amounts payable | 17/49 | €33,857,608 | €33,206,693 | -€650,915 | -1.9% |
| Amounts payable after more than one year | 17 | €31,142,631 | €28,683,870 | -€2.5m | -7.9% |
| Financial debts | 170/4 | €31,142,631 | €28,683,870 | -€2.5m | -7.9% |
| Amounts payable within one year | 42/48 | €2,714,977 | €4,521,005 | +€1.8m | +66.5% |
| Current portion of amounts payable after more than one year | 42 | €938,574 | €2,385,733 | +€1.4m | +154.2% |
| Trade debts | 44 | €121,748 | €37,511 | -€84,236 | -69.2% |
| Suppliers | 440/4 | €121,748 | €37,511 | -€84,236 | -69.2% |
| Taxes, remuneration and social security | 45 | €50,160 | €22,412 | -€27,748 | -55.3% |
| Taxes | 450/3 | €29,316 | €5,949 | -€23,367 | -79.7% |
| Remuneration and social security | 454/9 | €20,845 | €16,464 | -€4,381 | -21.0% |
| Other amounts payable | 47/48 | €1,604,495 | €2,075,348 | +€470,853 | +29.3% |
| Accrued charges and deferred income | 492/3 | - | €1,818 | +€1,818 | |
| Non-recurring operating income | 76A | €135,822 | €268,185 | +€132,363 | +97.5% |
| Remuneration, social security and pensions | 62 | €195,721 | €150,720 | -€45,001 | -23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,503,573 | €1,568,840 | +€65,267 | +4.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €36,756 | -€3,422 | -€40,178 | |
| Other operating charges | 640/8 | €197,445 | €234,421 | +€36,976 | +18.7% |
| Non-recurring operating charges | 66A | €2,669 | €76,325 | +€73,656 | +2759.5% |
| Gross operating margin | 9900 | €2,263,562 | €2,241,574 | -€21,988 | -1.0% |
| Operating profit (loss) | 9901 | €327,398 | €214,690 | -€112,708 | -34.4% |
| Financial income | 75/76B | €302,316 | €117,072 | -€185,244 | -61.3% |
| Recurring financial income | 75 | €302,316 | €117,072 | -€185,244 | -61.3% |
| Financial charges | 65/66B | €628,683 | €597,274 | -€31,409 | -5.0% |
| Recurring financial charges | 65 | €628,683 | €557,274 | -€71,409 | -11.4% |
| Non-recurring financial charges | 66B | - | €40,000 | +€40,000 | |
| Profit (loss) for the period before taxes | 9903 | €1,031 | -€265,512 | -€266,543 | |
| Transfer from deferred taxes | 780 | €39,123 | €39,123 | = | 0.0% |
| Income taxes | 67/77 | €24,445 | €58,889 | +€34,444 | +140.9% |
| Profit (loss) for the period | 9904 | €15,708 | -€285,279 | -€300,987 | |
| Transfer from tax-exempt reserves | 789 | €58,291 | €58,291 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €73,999 | -€226,987 | -€300,987 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.