Laswerken 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.
Laswerken Hermans
Largest movements
- Cash +€12,898
up €12,898 (+117%), from €11,061 to €23,959
mainly Net result for the year (+€24,378) and Tax, wage and social debts (+€6,800)
- Receivables within one year +€6,931
up €6,931 (+214%), from €3,240 to €10,171
of which Trade receivables: +€6,418
- Tangible fixed assets +€5,014
up €5,014 (+36.8%), from €13,607 to €18,621
of which Furniture and vehicles: +€7,943
- Deferred charges and accrued income +€4,471
new in 2025: €4,471
- Stocks and contracts +€2,393
up €2,393 (+160%), from €1,500 to €3,893
- Reserves +€22,053
up €22,053 (+187%), from €11,819 to €33,872
- Tax, wage and social debts +€6,800
up €6,800 (+3,400%), from €200 to €7,000
- Profit (loss) carried forward +€2,325
no longer reported in 2025 (was -€2,325)
- Other debts -€1,937
down €1,937 (-25.9%), from €7,486 to €5,549
- Current portion of long-term debt +€1,903
up €1,903 (+64.3%), from €2,960 to €4,863
- Gross operating margin +€38,919
up €38,919 (+575%), from €6,764 to €45,683
- Taxes +€12,303
up €12,303 (+6,180%), from €199 to €12,502
- Depreciation -€500
down €500 (-8.7%), from €5,751 to €5,251
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 | €29,408 | €61,116 | +€31,707 | +108% |
| Fixed assets | 21/28 | €13,607 | €18,621 | +€5,014 | +36.8% |
| Tangible fixed assets | 22/27 | €13,607 | €18,621 | +€5,014 | +36.8% |
| Plant, machinery and equipment | 23 | €11,959 | €9,030 | -€2,929 | -24.5% |
| Furniture and vehicles | 24 | €1,648 | €9,591 | +€7,943 | +482% |
| Current assets | 29/58 | €15,801 | €42,494 | +€26,693 | +169% |
| Stocks and contracts in progress | 3 | €1,500 | €3,893 | +€2,393 | +160% |
| Stocks | 30/36 | €1,500 | €3,893 | +€2,393 | +160% |
| Amounts receivable within one year | 40/41 | €3,240 | €10,171 | +€6,931 | +214% |
| Trade receivables | 40 | €2,431 | €8,849 | +€6,418 | +264% |
| Other amounts receivable | 41 | €809 | €1,322 | +€513 | +63.4% |
| Cash at bank and in hand | 54/58 | €11,061 | €23,959 | +€12,898 | +117% |
| Deferred charges and accrued income | 490/1 | - | €4,471 | +€4,471 | |
| Total equity and liabilities | 10/49 | €29,408 | €61,116 | +€31,707 | +108% |
| Equity | 10/15 | €12,494 | €36,872 | +€24,378 | +195% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €11,819 | €33,872 | +€22,053 | +187% |
| Distributable reserves | 133 | €11,819 | €33,872 | +€22,053 | +187% |
| Profit (loss) carried forward | 14 | -€2,325 | - | +€2,325 | |
| Amounts payable | 17/49 | €16,914 | €24,244 | +€7,330 | +43.3% |
| Amounts payable after more than one year | 17 | €5,933 | €5,723 | -€211 | -3.6% |
| Financial debts | 170/4 | €5,933 | €5,723 | -€211 | -3.6% |
| Amounts payable within one year | 42/48 | €10,981 | €18,521 | +€7,541 | +68.7% |
| Current portion of amounts payable after more than one year | 42 | €2,960 | €4,863 | +€1,903 | +64.3% |
| Trade debts | 44 | €335 | €1,109 | +€774 | +231% |
| Suppliers | 440/4 | €335 | €1,109 | +€774 | +231% |
| Taxes, remuneration and social security | 45 | €200 | €7,000 | +€6,800 | +3,400% |
| Taxes | 450/3 | €200 | €7,000 | +€6,800 | +3,400% |
| Other amounts payable | 47/48 | €7,486 | €5,549 | -€1,937 | -25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,751 | €5,251 | -€500 | -8.7% |
| Other operating charges | 640/8 | €2,013 | €2,166 | +€153 | +7.6% |
| Gross operating margin | 9900 | €6,764 | €45,683 | +€38,919 | +575% |
| Operating profit (loss) | 9901 | -€1,001 | €38,266 | +€39,267 | |
| Financial charges | 65/66B | €1,006 | €1,386 | +€380 | +37.7% |
| Recurring financial charges | 65 | €1,006 | €1,386 | +€380 | +37.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,007 | €36,880 | +€38,887 | |
| Income taxes | 67/77 | €199 | €12,502 | +€12,303 | +6,180% |
| Profit (loss) for the period | 9904 | -€2,206 | €24,378 | +€26,584 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,206 | €24,378 | +€26,584 |
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.