Dr. Harlet R.: 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.
Dr. Harlet R.
Largest movements
- Cash -€67,800
down €67,800 (-41.8%), from €162,065 to €94,265
mainly Debts after one year (-€73,976) and Deferred charges and accrued income (-€48,969)
- Deferred charges and accrued income +€48,969
up €48,969 (+73.4%), from €66,758 to €115,727
- Tangible fixed assets -€12,334
down €12,334 (-4.8%), from €256,207 to €243,873
of which Land and buildings: -€12,803
- Reserves +€81,309
up €81,309 (+37.9%), from €214,439 to €295,749
- Debts after one year -€73,976
down €73,976 (-85.8%), from €86,180 to €12,204
- Current portion of long-term debt -€26,859
down €26,859 (-58.3%), from €46,076 to €19,217
- Tax, wage and social debts -€4,982
down €4,982 (-21.0%), from €23,732 to €18,750
of which Taxes: -€4,982
- Gross operating margin -€40,468
down €40,468 (-21.6%), from €187,283 to €146,815
- Taxes -€16,305
down €16,305 (-34.4%), from €47,442 to €31,137
- Depreciation +€6,812
up €6,812 (+30.1%), from €22,595 to €29,407
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 | €485,030 | €458,167 | -€26,863 | -5.5% |
| Fixed assets | 21/28 | €256,207 | €244,312 | -€11,895 | -4.6% |
| Tangible fixed assets | 22/27 | €256,207 | €243,873 | -€12,334 | -4.8% |
| Land and buildings | 22 | €223,608 | €210,805 | -€12,803 | -5.7% |
| Plant, machinery and equipment | 23 | €6,249 | €4,345 | -€1,903 | -30.5% |
| Furniture and vehicles | 24 | €26,350 | €28,723 | +€2,373 | +9.0% |
| Financial fixed assets | 28 | - | €439 | +€439 | |
| Current assets | 29/58 | €228,823 | €213,855 | -€14,968 | -6.5% |
| Amounts receivable within one year | 40/41 | - | €3,863 | +€3,863 | |
| Other amounts receivable | 41 | - | €3,863 | +€3,863 | |
| Cash at bank and in hand | 54/58 | €162,065 | €94,265 | -€67,800 | -41.8% |
| Deferred charges and accrued income | 490/1 | €66,758 | €115,727 | +€48,969 | +73.4% |
| Total equity and liabilities | 10/49 | €485,030 | €458,167 | -€26,863 | -5.5% |
| Equity | 10/15 | €292,161 | €370,249 | +€78,087 | +26.7% |
| Contributions | 10/11 | €74,500 | €74,500 | = | 0.0% |
| Reserves | 13 | €214,439 | €295,749 | +€81,309 | +37.9% |
| Distributable reserves | 133 | €214,439 | €295,749 | +€81,309 | +37.9% |
| Profit (loss) carried forward | 14 | €3,222 | €0 | -€3,222 | -100% |
| Amounts payable | 17/49 | €192,869 | €87,918 | -€104,950 | -54.4% |
| Amounts payable after more than one year | 17 | €86,180 | €12,204 | -€73,976 | -85.8% |
| Financial debts | 170/4 | €86,180 | €12,204 | -€73,976 | -85.8% |
| Amounts payable within one year | 42/48 | €104,455 | €73,476 | -€30,978 | -29.7% |
| Current portion of amounts payable after more than one year | 42 | €46,076 | €19,217 | -€26,859 | -58.3% |
| Trade debts | 44 | €1,327 | €5,591 | +€4,264 | +321% |
| Suppliers | 440/4 | €1,327 | €5,591 | +€4,264 | +321% |
| Taxes, remuneration and social security | 45 | €23,732 | €18,750 | -€4,982 | -21.0% |
| Taxes | 450/3 | €12,382 | €7,400 | -€4,982 | -40.2% |
| Remuneration and social security | 454/9 | €11,350 | €11,350 | = | 0.0% |
| Other amounts payable | 47/48 | €33,319 | €29,918 | -€3,401 | -10.2% |
| Accrued charges and deferred income | 492/3 | €2,234 | €2,238 | +€4 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,595 | €29,407 | +€6,812 | +30.1% |
| Other operating charges | 640/8 | €288 | €350 | +€62 | +21.4% |
| Non-recurring operating charges | 66A | - | €3,100 | +€3,100 | |
| Gross operating margin | 9900 | €187,283 | €146,815 | -€40,468 | -21.6% |
| Operating profit (loss) | 9901 | €164,400 | €113,959 | -€50,441 | -30.7% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €5,031 | €4,734 | -€297 | -5.9% |
| Recurring financial charges | 65 | €5,031 | €4,734 | -€297 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €159,369 | €109,225 | -€50,144 | -31.5% |
| Income taxes | 67/77 | €47,442 | €31,137 | -€16,305 | -34.4% |
| Profit (loss) for the period | 9904 | €111,927 | €78,087 | -€33,840 | -30.2% |
| Profit (loss) for the period to be appropriated | 9905 | €111,927 | €78,087 | -€33,840 | -30.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.