E3 HARELBEKE: 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.
E3 HARELBEKE
Largest movements
- Receivables within one year +€195,697
up €195,697 (+78.1%), from €250,628 to €446,326
of which Trade receivables: +€188,514
- Cash +€155,074
up €155,074 (+37.8%), from €410,059 to €565,133
mainly Net result for the year (+€325,327) and Depreciation (+€116,793)
- Intangible fixed assets -€116,606
down €116,606 (-93.9%), from €124,135 to €7,529
- Profit (loss) carried forward +€177,977
up €177,977 (+19.5%), from €912,350 to €1.1m
- Reserves +€147,350
new in 2025: €147,350
- Trade debts -€70,652
down €70,652 (-89.2%), from €79,243 to €8,590
- Gross operating margin -€13,470
down €13,470 (-2.4%), from €553,726 to €540,256
- Financial charges +€9,300
up €9,300 (+58.5%), from -€15,889 to -€6,589
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 | €1,280,121 | €1,518,461 | +€238,340 | +18.6% |
| Fixed assets | 21/28 | €124,322 | €7,529 | -€116,793 | -93.9% |
| Intangible fixed assets | 21 | €124,135 | €7,529 | -€116,606 | -93.9% |
| Tangible fixed assets | 22/27 | €187 | €0 | -€187 | -100% |
| Plant, machinery and equipment | 23 | €187 | €0 | -€187 | -100% |
| Current assets | 29/58 | €1,155,799 | €1,510,932 | +€355,133 | +30.7% |
| Amounts receivable within one year | 40/41 | €250,628 | €446,326 | +€195,697 | +78.1% |
| Trade receivables | 40 | €242,318 | €430,832 | +€188,514 | +77.8% |
| Other amounts receivable | 41 | €8,310 | €15,493 | +€7,183 | +86.4% |
| Current investments | 50/53 | €483,937 | €490,861 | +€6,923 | +1.4% |
| Cash at bank and in hand | 54/58 | €410,059 | €565,133 | +€155,074 | +37.8% |
| Deferred charges and accrued income | 490/1 | €11,174 | €8,613 | -€2,562 | -22.9% |
| Total equity and liabilities | 10/49 | €1,280,121 | €1,518,461 | +€238,340 | +18.6% |
| Equity | 10/15 | €1,163,150 | €1,488,476 | +€325,327 | +28.0% |
| Contributions | 10/11 | €250,800 | €250,800 | = | 0.0% |
| Reserves | 13 | - | €147,350 | +€147,350 | |
| Tax-exempt reserves | 132 | - | €147,350 | +€147,350 | |
| Profit (loss) carried forward | 14 | €912,350 | €1,090,326 | +€177,977 | +19.5% |
| Amounts payable | 17/49 | €116,972 | €29,985 | -€86,987 | -74.4% |
| Amounts payable within one year | 42/48 | €116,972 | €29,985 | -€86,987 | -74.4% |
| Trade debts | 44 | €79,243 | €8,590 | -€70,652 | -89.2% |
| Suppliers | 440/4 | €79,243 | €8,590 | -€70,652 | -89.2% |
| Advances received on contracts in progress | 46 | €10,181 | €867 | -€9,314 | -91.5% |
| Taxes, remuneration and social security | 45 | €26,910 | €19,877 | -€7,033 | -26.1% |
| Taxes | 450/3 | €26,910 | €19,877 | -€7,033 | -26.1% |
| Other amounts payable | 47/48 | €637 | €650 | +€13 | +2.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €1,137 | €350 | -€787 | -69.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,362 | €116,793 | -€569 | -0.5% |
| Other operating charges | 640/8 | €1,344 | €1,126 | -€217 | -16.2% |
| Gross operating margin | 9900 | €553,726 | €540,256 | -€13,470 | -2.4% |
| Operating profit (loss) | 9901 | €435,020 | €422,336 | -€12,684 | -2.9% |
| Financial income | 75/76B | €225 | €797 | +€572 | +255% |
| Recurring financial income | 75 | €225 | €797 | +€572 | +255% |
| Financial charges | 65/66B | -€15,889 | -€6,589 | +€9,300 | +58.5% |
| Recurring financial charges | 65 | -€15,889 | -€6,589 | +€9,300 | +58.5% |
| Profit (loss) for the period before taxes | 9903 | €451,134 | €429,722 | -€21,412 | -4.7% |
| Income taxes | 67/77 | €109,079 | €104,395 | -€4,684 | -4.3% |
| Profit (loss) for the period | 9904 | €342,055 | €325,327 | -€16,728 | -4.9% |
| Transfer to tax-exempt reserves | 689 | - | €147,350 | +€147,350 | |
| Profit (loss) for the period to be appropriated | 9905 | €342,055 | €177,977 | -€164,078 | -48.0% |
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.