Michel HERBAY: what changed
What changed
Michel HERBAY
NACE 69.102, Activities of notaries
filed annual accounts (NBB)
Net result for the year
€230,658
2025 · €310,202-€79,544
Equity
€2,142
2025 · €2,484-€342
Cash
€119,283
2025 · €25,364+€93,919
Balance sheet total
€226,469
2025 · €53,097+€173,373
Largest movements
Assets
- Cash +€93,919
up €93,919 (+370%), from €25,364 to €119,283
mainly Net result for the year (+€230,658) and Other debts (+€189,925)
- Receivables within one year +€92,000
new in 2026: €92,000
- Tangible fixed assets -€12,685
down €12,685 (-52.2%), from €24,313 to €11,628
Equity and liabilities
- Other debts +€189,925
up €189,925 (+1,119%), from €16,971 to €206,896
- Debts after one year -€9,518
no longer reported in 2026 (was €9,518)
- Trade debts -€8,100
down €8,100 (-89.6%), from €9,039 to €939
- Tax, wage and social debts +€3,231
up €3,231 (+86.3%), from €3,744 to €6,974
Income statement
- Gross operating margin -€78,767
down €78,767 (-18.9%), from €415,894 to €337,126
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€310,202
Gross operating margin
-€78,767
Other operating charges
+€362
Financial charges
+€105
Taxes
-€1,244
Result 2026
€230,658
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€336,259
Investment
€0
Financing
-€242,340
Cash 2025
€25,364
From operations (derived)
+€336,259
Net result for the year
+€230,658
Depreciation
+€12,685
Receivables within one year
-€92,000
Deferred charges and accrued income
-€139
Trade debts
-€8,100
Tax, wage and social debts
+€3,231
Other debts
+€189,925
Financing
-€242,340
Debts after one year
-€9,518
Current portion of long-term debt
-€1,823
Contributions, distributions and other
-€231,000
Cash 2026
€119,283
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €53,097 | €226,469 | +€173,373 | +327% |
| Fixed assets | 21/28 | €24,313 | €11,628 | -€12,685 | -52.2% |
| Tangible fixed assets | 22/27 | €24,313 | €11,628 | -€12,685 | -52.2% |
| Furniture and vehicles | 24 | €24,313 | €11,628 | -€12,685 | -52.2% |
| Current assets | 29/58 | €28,784 | €214,842 | +€186,058 | +646% |
| Amounts receivable within one year | 40/41 | - | €92,000 | +€92,000 | |
| Trade receivables | 40 | - | €92,000 | +€92,000 | |
| Cash at bank and in hand | 54/58 | €25,364 | €119,283 | +€93,919 | +370% |
| Deferred charges and accrued income | 490/1 | €3,420 | €3,559 | +€139 | +4.1% |
| Total equity and liabilities | 10/49 | €53,097 | €226,469 | +€173,373 | +327% |
| Equity | 10/15 | €2,484 | €2,142 | -€342 | -13.8% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €984 | €642 | -€342 | -34.7% |
| Amounts payable | 17/49 | €50,612 | €224,327 | +€173,715 | +343% |
| Amounts payable after more than one year | 17 | €9,518 | - | -€9,518 | |
| Financial debts | 170/4 | €9,518 | - | -€9,518 | |
| Amounts payable within one year | 42/48 | €41,095 | €224,327 | +€183,232 | +446% |
| Current portion of amounts payable after more than one year | 42 | €11,340 | €9,518 | -€1,823 | -16.1% |
| Trade debts | 44 | €9,039 | €939 | -€8,100 | -89.6% |
| Suppliers | 440/4 | €9,039 | €939 | -€8,100 | -89.6% |
| Taxes, remuneration and social security | 45 | €3,744 | €6,974 | +€3,231 | +86.3% |
| Taxes | 450/3 | €3,744 | €6,974 | +€3,231 | +86.3% |
| Other amounts payable | 47/48 | €16,971 | €206,896 | +€189,925 | +1,119% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,685 | €12,685 | = | 0.0% |
| Other operating charges | 640/8 | €1,432 | €1,070 | -€362 | -25.3% |
| Gross operating margin | 9900 | €415,894 | €337,126 | -€78,767 | -18.9% |
| Operating profit (loss) | 9901 | €401,776 | €323,371 | -€78,405 | -19.5% |
| Financial charges | 65/66B | €474 | €369 | -€105 | -22.2% |
| Recurring financial charges | 65 | €474 | €369 | -€105 | -22.2% |
| Profit (loss) for the period before taxes | 9903 | €401,302 | €323,002 | -€78,300 | -19.5% |
| Income taxes | 67/77 | €91,100 | €92,344 | +€1,244 | +1.4% |
| Profit (loss) for the period | 9904 | €310,202 | €230,658 | -€79,544 | -25.6% |
| Profit (loss) for the period to be appropriated | 9905 | €310,202 | €230,658 | -€79,544 | -25.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.