HARAS DE NIASTER: 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.
What changed
HARAS DE NIASTER
NACE 01.430, Raising of horses and other equines
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€8,067
2024 · €1,369-€9,436
Equity
€2.3m
2024 · €2.3m-€8,067
Cash
€29,983
2024 · €59,743-€29,760
Balance sheet total
€3.3m
2024 · €2.9m+€358,450
Largest movements
Assets
- Tangible fixed assets +€377,505
up €377,505 (+15.4%), from €2.5m to €2.8m
of which Plant, machinery and equipment: +€379,386
Equity and liabilities
- Other debts +€399,033
up €399,033 (+80.7%), from €494,660 to €893,693
Income statement
- Gross operating margin +€47,286
up €47,286 (+17.2%), from €274,525 to €321,810
- Depreciation +€37,188
up €37,188 (+24.7%), from €150,571 to €187,759
- Financial charges +€12,250
up €12,250 (+32.1%), from €38,166 to €50,416
- Staff costs +€3,835
up €3,835 (+5.1%), from €75,870 to €79,704
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.
Result 2024
€1,369
Gross operating margin
+€47,286
Staff costs
-€3,835
Depreciation
-€37,188
Other operating charges
-€2,796
Financial income
-€618
Financial charges
-€12,250
Taxes
-€34
Result 2025
-€8,067
raises the resultlowers the result
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.
From operations
+€565,621
Investment
-€565,264
Financing
-€30,116
Cash 2024
€59,743
From operations (derived)
+€565,621
Net result for the year
-€8,067
Depreciation
+€187,759
Stocks and contracts
+€3,580
Receivables within one year
-€19,109
Deferred charges and accrued income
+€4,824
Trade debts
-€1,277
Tax, wage and social debts
-€13,763
Other debts
+€399,033
Accrued charges and deferred income
+€12,640
Investment (derived)
-€565,264
Investment in fixed assets (net)
-€565,264
Financing
-€30,116
Debts after one year
-€19,889
Current portion of long-term debt
-€10,227
Cash 2025
€29,983
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,905,827 | €3,264,277 | +€358,450 | +12.3% |
| Fixed assets | 21/28 | €2,459,703 | €2,837,208 | +€377,505 | +15.3% |
| Tangible fixed assets | 22/27 | €2,459,203 | €2,836,708 | +€377,505 | +15.4% |
| Land and buildings | 22 | €2,152,963 | €2,106,872 | -€46,091 | -2.1% |
| Plant, machinery and equipment | 23 | €197,625 | €577,011 | +€379,386 | +192% |
| Furniture and vehicles | 24 | €108,616 | €152,826 | +€44,210 | +40.7% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €446,124 | €427,069 | -€19,055 | -4.3% |
| Stocks and contracts in progress | 3 | €101,350 | €97,770 | -€3,580 | -3.5% |
| Stocks | 30/36 | €101,350 | €97,770 | -€3,580 | -3.5% |
| Amounts receivable within one year | 40/41 | €280,208 | €299,316 | +€19,109 | +6.8% |
| Trade receivables | 40 | €280,208 | €299,316 | +€19,109 | +6.8% |
| Cash at bank and in hand | 54/58 | €59,743 | €29,983 | -€29,760 | -49.8% |
| Deferred charges and accrued income | 490/1 | €4,824 | €0 | -€4,824 | -100% |
| Total equity and liabilities | 10/49 | €2,905,827 | €3,264,277 | +€358,450 | +12.3% |
| Equity | 10/15 | €2,275,470 | €2,267,403 | -€8,067 | -0.4% |
| Contributions | 10/11 | €2,226,000 | €2,226,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,470 | €41,403 | -€8,067 | -16.3% |
| Amounts payable | 17/49 | €630,357 | €996,874 | +€366,517 | +58.1% |
| Amounts payable after more than one year | 17 | €19,889 | €0 | -€19,889 | -100% |
| Financial debts | 170/4 | €19,889 | €0 | -€19,889 | -100% |
| Amounts payable within one year | 42/48 | €573,474 | €947,239 | +€373,766 | +65.2% |
| Current portion of amounts payable after more than one year | 42 | €30,116 | €19,889 | -€10,227 | -34.0% |
| Trade debts | 44 | €21,376 | €20,099 | -€1,277 | -6.0% |
| Suppliers | 440/4 | €21,376 | €20,099 | -€1,277 | -6.0% |
| Taxes, remuneration and social security | 45 | €27,321 | €13,559 | -€13,763 | -50.4% |
| Taxes | 450/3 | €16,209 | €1,708 | -€14,501 | -89.5% |
| Remuneration and social security | 454/9 | €11,112 | €11,850 | +€738 | +6.6% |
| Other amounts payable | 47/48 | €494,660 | €893,693 | +€399,033 | +80.7% |
| Accrued charges and deferred income | 492/3 | €36,994 | €49,635 | +€12,640 | +34.2% |
| Remuneration, social security and pensions | 62 | €75,870 | €79,704 | +€3,835 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €150,571 | €187,759 | +€37,188 | +24.7% |
| Other operating charges | 640/8 | €8,526 | €11,322 | +€2,796 | +32.8% |
| Gross operating margin | 9900 | €274,525 | €321,810 | +€47,286 | +17.2% |
| Operating profit (loss) | 9901 | €39,559 | €43,026 | +€3,467 | +8.8% |
| Financial income | 75/76B | €663 | €45 | -€618 | -93.2% |
| Recurring financial income | 75 | €663 | €45 | -€618 | -93.2% |
| Financial charges | 65/66B | €38,166 | €50,416 | +€12,250 | +32.1% |
| Recurring financial charges | 65 | €38,166 | €50,416 | +€12,250 | +32.1% |
| Profit (loss) for the period before taxes | 9903 | €2,057 | -€7,345 | -€9,402 | |
| Income taxes | 67/77 | €688 | €722 | +€34 | +4.9% |
| Profit (loss) for the period | 9904 | €1,369 | -€8,067 | -€9,436 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,369 | -€8,067 | -€9,436 |
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 19 October 2026 via checked.be.