Michel HERCH: 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.
Michel HERCH
Largest movements
- Receivables within one year -€7,833
down €7,833 (-87.1%), from €8,995 to €1,162
of which Trade receivables: -€7,833
- Cash -€1,712
down €1,712 (-63.1%), from €2,713 to €1,001
mainly Other debts (-€26,414) and Tax, wage and social debts (-€3,696)
- Other debts -€26,414
down €26,414 (-61.6%), from €42,851 to €16,437
- Profit (loss) carried forward +€19,740
up €19,740 (+24.3%), from -€81,387 to -€61,647
- Tax, wage and social debts -€3,696
down €3,696 (-99.7%), from €3,707 to €11
of which Taxes: -€2,149
- Trade debts +€824
up €824 (+63.5%), from €1,297 to €2,121
- Staff costs -€6,889
down €6,889 (-85.3%), from €8,075 to €1,186
- Financial charges -€586
down €586 (-43.5%), from €1,349 to €762
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 | €11,708 | €2,163 | -€9,545 | -81.5% |
| Current assets | 29/58 | €11,708 | €2,163 | -€9,545 | -81.5% |
| Amounts receivable within one year | 40/41 | €8,995 | €1,162 | -€7,833 | -87.1% |
| Trade receivables | 40 | €8,941 | €1,108 | -€7,833 | -87.6% |
| Other amounts receivable | 41 | €54 | €54 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,713 | €1,001 | -€1,712 | -63.1% |
| Total equity and liabilities | 10/49 | €11,708 | €2,163 | -€9,545 | -81.5% |
| Equity | 10/15 | -€36,147 | -€16,406 | +€19,740 | +54.6% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Capital | 10 | €30,987 | €30,987 | = | 0.0% |
| Issued capital | 100 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €14,254 | €14,254 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Distributable reserves | 133 | €11,155 | €11,155 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€81,387 | -€61,647 | +€19,740 | +24.3% |
| Amounts payable | 17/49 | €47,855 | €18,569 | -€29,286 | -61.2% |
| Amounts payable within one year | 42/48 | €47,855 | €18,569 | -€29,286 | -61.2% |
| Trade debts | 44 | €1,297 | €2,121 | +€824 | +63.5% |
| Suppliers | 440/4 | €1,297 | €2,121 | +€824 | +63.5% |
| Taxes, remuneration and social security | 45 | €3,707 | €11 | -€3,696 | -99.7% |
| Taxes | 450/3 | €2,160 | €11 | -€2,149 | -99.5% |
| Remuneration and social security | 454/9 | €1,547 | €0 | -€1,547 | -100% |
| Other amounts payable | 47/48 | €42,851 | €16,437 | -€26,414 | -61.6% |
| Remuneration, social security and pensions | 62 | €8,075 | €1,186 | -€6,889 | -85.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Gross operating margin | 9900 | €21,603 | €21,688 | +€86 | +0.4% |
| Operating profit (loss) | 9901 | €13,527 | €20,503 | +€6,975 | +51.6% |
| Financial income | 75/76B | €166 | €0 | -€166 | -100% |
| Recurring financial income | 75 | €166 | €0 | -€166 | -100% |
| Financial charges | 65/66B | €1,349 | €762 | -€586 | -43.5% |
| Recurring financial charges | 65 | €1,349 | €762 | -€586 | -43.5% |
| Profit (loss) for the period before taxes | 9903 | €12,345 | €19,740 | +€7,396 | +59.9% |
| Profit (loss) for the period | 9904 | €12,345 | €19,740 | +€7,396 | +59.9% |
| Profit (loss) for the period to be appropriated | 9905 | €12,345 | €19,740 | +€7,396 | +59.9% |
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 22 October 2026 via checked.be.