HAR: 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.
HAR
Largest movements
- Cash +€48,311
up €48,311 (+7.6%), from €635,622 to €683,933
mainly Net result for the year (+€150,476) and Trade debts (+€10,426)
- Reserves +€45,395
up €45,395 (+7.0%), from €646,861 to €692,256
- Trade debts +€10,426
up €10,426 (+218.7%), from €4,767 to €15,193
- Taxes -€3,678
down €3,678 (-5.5%), from €66,315 to €62,637
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 | €705,235 | €757,457 | +€52,221 | +7.4% |
| Fixed assets | 21/28 | €218 | €0 | -€218 | -100.0% |
| Tangible fixed assets | 22/27 | €218 | €0 | -€218 | -100.0% |
| Furniture and vehicles | 24 | €218 | €0 | -€218 | -100.0% |
| Current assets | 29/58 | €705,018 | €757,457 | +€52,439 | +7.4% |
| Amounts receivable within one year | 40/41 | €68,175 | €73,278 | +€5,102 | +7.5% |
| Trade receivables | 40 | €68,175 | €73,278 | +€5,102 | +7.5% |
| Cash at bank and in hand | 54/58 | €635,622 | €683,933 | +€48,311 | +7.6% |
| Deferred charges and accrued income | 490/1 | €1,221 | €246 | -€975 | -79.9% |
| Total equity and liabilities | 10/49 | €705,235 | €757,457 | +€52,221 | +7.4% |
| Equity | 10/15 | €678,185 | €724,056 | +€45,871 | +6.8% |
| Contributions | 10/11 | €31,323 | €31,323 | = | 0.0% |
| Reserves | 13 | €646,861 | €692,256 | +€45,395 | +7.0% |
| Distributable reserves | 133 | €646,861 | €692,256 | +€45,395 | +7.0% |
| Profit (loss) carried forward | 14 | - | €476 | +€476 | |
| Amounts payable | 17/49 | €27,051 | €33,401 | +€6,350 | +23.5% |
| Amounts payable within one year | 42/48 | €27,051 | €33,401 | +€6,350 | +23.5% |
| Trade debts | 44 | €4,767 | €15,193 | +€10,426 | +218.7% |
| Suppliers | 440/4 | €4,767 | €15,193 | +€10,426 | +218.7% |
| Taxes, remuneration and social security | 45 | €22,284 | €18,208 | -€4,076 | -18.3% |
| Taxes | 450/3 | €18,923 | €18,208 | -€715 | -3.8% |
| Remuneration and social security | 454/9 | €3,361 | - | -€3,361 | |
| Remuneration, social security and pensions | 62 | €298 | - | -€298 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €737 | €218 | -€519 | -70.5% |
| Other operating charges | 640/8 | €298 | €364 | +€66 | +22.1% |
| Gross operating margin | 9900 | €213,875 | €214,076 | +€202 | +0.1% |
| Operating profit (loss) | 9901 | €212,542 | €213,495 | +€953 | +0.4% |
| Financial income | 75/76B | €10 | €1 | -€10 | -90.7% |
| Recurring financial income | 75 | €10 | €1 | -€10 | -90.7% |
| Financial charges | 65/66B | €93 | €383 | +€290 | +310.5% |
| Recurring financial charges | 65 | €93 | €383 | +€290 | +310.5% |
| Profit (loss) for the period before taxes | 9903 | €212,459 | €213,113 | +€654 | +0.3% |
| Income taxes | 67/77 | €66,315 | €62,637 | -€3,678 | -5.5% |
| Profit (loss) for the period | 9904 | €146,144 | €150,476 | +€4,332 | +3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €146,144 | €150,476 | +€4,332 | +3.0% |
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 30 September 2026 via checked.be.