C.E.V. HARMONY: 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.
C.E.V. HARMONY
Largest movements
- Receivables within one year -€73,143
down €73,143 (-68.0%), from €107,533 to €34,390
of which Other amounts receivable: -€106,477
- Cash +€10,783
up €10,783 (+222.7%), from €4,842 to €15,625
mainly Receivables within one year (+€73,143) and Depreciation (+€6,771)
- Stocks and contracts +€8,350
up €8,350 (+12.1%), from €68,909 to €77,259
- Reserves -€32,000
down €32,000 (-94.5%), from €33,860 to €1,860
of which Distributable reserves: -€32,000
- Tax, wage and social debts -€17,208
down €17,208 (-22.8%), from €75,552 to €58,344
of which Remuneration and social security: -€47,876
- Debts after one year -€15,713
down €15,713 (-34.8%), from €45,207 to €29,495
- Profit (loss) carried forward +€5,107
up €5,107 (+21.1%), from €24,241 to €29,348
- Trade debts +€3,126
up €3,126 (+11.3%), from €27,612 to €30,738
- Staff costs +€31,984
up €31,984 (+33.1%), from €96,678 to €128,661
- Gross operating margin +€18,606
up €18,606 (+14.3%), from €129,711 to €148,317
- Depreciation -€5,785
down €5,785 (-46.1%), from €12,556 to €6,771
- Other operating charges -€3,634
down €3,634 (-66.3%), from €5,480 to €1,846
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €227,750 | €173,035 | -€54,715 | -24.0% |
| Fixed assets | 21/28 | €46,386 | €45,615 | -€771 | -1.7% |
| Tangible fixed assets | 22/27 | €44,350 | €43,579 | -€771 | -1.7% |
| Furniture and vehicles | 24 | €16,854 | €13,190 | -€3,664 | -21.7% |
| Other tangible fixed assets | 26 | €27,496 | €30,389 | +€2,893 | +10.5% |
| Financial fixed assets | 28 | €2,036 | €2,036 | = | 0.0% |
| Current assets | 29/58 | €181,364 | €127,420 | -€53,944 | -29.7% |
| Stocks and contracts in progress | 3 | €68,909 | €77,259 | +€8,350 | +12.1% |
| Stocks | 30/36 | €68,909 | €77,259 | +€8,350 | +12.1% |
| Amounts receivable within one year | 40/41 | €107,533 | €34,390 | -€73,143 | -68.0% |
| Trade receivables | 40 | €521 | €33,855 | +€33,334 | +6397.5% |
| Other amounts receivable | 41 | €107,012 | €535 | -€106,477 | -99.5% |
| Cash at bank and in hand | 54/58 | €4,842 | €15,625 | +€10,783 | +222.7% |
| Deferred charges and accrued income | 490/1 | €79 | €146 | +€67 | +84.2% |
| Total equity and liabilities | 10/49 | €227,750 | €173,035 | -€54,715 | -24.0% |
| Equity | 10/15 | €64,301 | €37,408 | -€26,893 | -41.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €33,860 | €1,860 | -€32,000 | -94.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €32,000 | €0 | -€32,000 | -100.0% |
| Profit (loss) carried forward | 14 | €24,241 | €29,348 | +€5,107 | +21.1% |
| Amounts payable | 17/49 | €163,448 | €135,627 | -€27,821 | -17.0% |
| Amounts payable after more than one year | 17 | €45,207 | €29,495 | -€15,713 | -34.8% |
| Financial debts | 170/4 | €45,207 | €29,495 | -€15,713 | -34.8% |
| Amounts payable within one year | 42/48 | €118,241 | €106,132 | -€12,109 | -10.2% |
| Current portion of amounts payable after more than one year | 42 | €15,077 | €15,713 | +€636 | +4.2% |
| Trade debts | 44 | €27,612 | €30,738 | +€3,126 | +11.3% |
| Suppliers | 440/4 | €27,612 | €30,738 | +€3,126 | +11.3% |
| Taxes, remuneration and social security | 45 | €75,552 | €58,344 | -€17,208 | -22.8% |
| Taxes | 450/3 | €27,676 | €58,344 | +€30,668 | +110.8% |
| Remuneration and social security | 454/9 | €47,876 | - | -€47,876 | |
| Other amounts payable | 47/48 | - | €1,338 | +€1,338 | |
| Remuneration, social security and pensions | 62 | €96,678 | €128,661 | +€31,984 | +33.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,556 | €6,771 | -€5,785 | -46.1% |
| Other operating charges | 640/8 | €5,480 | €1,846 | -€3,634 | -66.3% |
| Gross operating margin | 9900 | €129,711 | €148,317 | +€18,606 | +14.3% |
| Operating profit (loss) | 9901 | €14,997 | €11,038 | -€3,959 | -26.4% |
| Financial income | 75/76B | €1 | €1 | -€0 | -30.4% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -30.4% |
| Financial charges | 65/66B | €6,989 | €5,932 | -€1,057 | -15.1% |
| Recurring financial charges | 65 | €6,989 | €5,932 | -€1,057 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €8,009 | €5,107 | -€2,902 | -36.2% |
| Income taxes | 67/77 | €279 | - | -€279 | |
| Profit (loss) for the period | 9904 | €7,730 | €5,107 | -€2,623 | -33.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,730 | €5,107 | -€2,623 | -33.9% |
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 8 October 2026 via checked.be.