HARCO GROUP: 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.
What changed
HARCO GROUP
NACE 46.120, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€93,867
2024 · -€73,835-€20,032
Equity
€1.5m
2024 · €1.6m-€93,867
Cash
€35,726
2024 · €40,404-€4,678
Balance sheet total
€3.9m
2024 · €4.1m-€115,045
Largest movements
Assets
- Receivables within one year -€65,446
down €65,446 (-2.1%), from €3.1m to €3.1m
of which Trade receivables: -€94,447
Equity and liabilities
- Other debts +€324,559
up €324,559 (+111.0%), from €292,374 to €616,932
- Debts after one year -€117,600
down €117,600 (-22.8%), from €516,053 to €398,453
- Profit (loss) carried forward -€93,867
down €93,867 (-22.8%), from €411,886 to €318,018
- Accrued charges and deferred income -€92,493
down €92,493 (-78.0%), from €118,524 to €26,031
- Trade debts -€92,065
down €92,065 (-12.2%), from €756,558 to €664,493
Income statement
- Financial charges +€68,227
up €68,227 (+71.8%), from €94,970 to €163,197
- Staff costs -€43,203
down €43,203 (-38.0%), from €113,752 to €70,549
- Gross operating margin +€21,492
up €21,492 (+9.1%), from €235,382 to €256,874
- Other operating charges +€11,813
up €11,813 (+8.4%), from €140,075 to €151,888
- Financial income -€4,384
down €4,384 (-9.2%), from €47,505 to €43,121
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
-€73,835
Gross operating margin
+€21,492
Staff costs
+€43,203
Depreciation
-€308
Other operating charges
-€11,813
Financial income
-€4,384
Financial charges
-€68,227
Taxes
+€4
Result 2025
-€93,867
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.
From operations
+€166,514
Investment
-€3,113
Financing
-€168,079
Cash 2024
€40,404
From operations (derived)
+€166,514
Net result for the year
-€93,867
Depreciation
+€8,061
Receivables after one year
+€40,107
Receivables within one year
+€65,446
Deferred charges and accrued income
-€133
Trade debts
-€92,065
Tax, wage and social debts
+€6,901
Other debts
+€324,559
Accrued charges and deferred income
-€92,493
Investment (derived)
-€3,113
Investment in fixed assets (net)
-€3,113
Financing
-€168,079
Debts after one year
-€117,600
Current portion of long-term debt
+€34,734
Short-term financial debts
-€85,213
Cash 2025
€35,726
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,051,519 | €3,936,474 | -€115,045 | -2.8% |
| Fixed assets | 21/28 | €206,489 | €201,542 | -€4,947 | -2.4% |
| Intangible fixed assets | 21 | €5,592 | €3,592 | -€2,000 | -35.8% |
| Tangible fixed assets | 22/27 | €14,664 | €11,717 | -€2,947 | -20.1% |
| Furniture and vehicles | 24 | €9,018 | €7,399 | -€1,618 | -17.9% |
| Other tangible fixed assets | 26 | €5,646 | €4,317 | -€1,329 | -23.5% |
| Financial fixed assets | 28 | €186,233 | €186,233 | = | 0.0% |
| Current assets | 29/58 | €3,845,030 | €3,734,932 | -€110,098 | -2.9% |
| Amounts receivable after more than one year | 29 | €679,101 | €638,994 | -€40,107 | -5.9% |
| Trade receivables | 290 | €679,101 | €638,994 | -€40,107 | -5.9% |
| Amounts receivable within one year | 40/41 | €3,118,717 | €3,053,271 | -€65,446 | -2.1% |
| Trade receivables | 40 | €2,430,596 | €2,336,149 | -€94,447 | -3.9% |
| Other amounts receivable | 41 | €688,121 | €717,123 | +€29,001 | +4.2% |
| Cash at bank and in hand | 54/58 | €40,404 | €35,726 | -€4,678 | -11.6% |
| Deferred charges and accrued income | 490/1 | €6,809 | €6,942 | +€133 | +2.0% |
| Total equity and liabilities | 10/49 | €4,051,519 | €3,936,474 | -€115,045 | -2.8% |
| Equity | 10/15 | €1,584,694 | €1,490,827 | -€93,867 | -5.9% |
| Contributions | 10/11 | €1,117,120 | €1,117,120 | = | 0.0% |
| Capital | 10 | €1,117,120 | €1,117,120 | = | 0.0% |
| Issued capital | 100 | €1,117,120 | €1,117,120 | = | 0.0% |
| Reserves | 13 | €55,688 | €55,688 | = | 0.0% |
| Non-distributable reserves | 130/1 | €55,688 | €55,688 | = | 0.0% |
| Legal reserve | 130 | €55,688 | €55,688 | = | 0.0% |
| Profit (loss) carried forward | 14 | €411,886 | €318,018 | -€93,867 | -22.8% |
| Amounts payable | 17/49 | €2,466,825 | €2,445,647 | -€21,178 | -0.9% |
| Amounts payable after more than one year | 17 | €516,053 | €398,453 | -€117,600 | -22.8% |
| Financial debts | 170/4 | €516,053 | €398,453 | -€117,600 | -22.8% |
| Amounts payable within one year | 42/48 | €1,832,248 | €2,021,164 | +€188,916 | +10.3% |
| Current portion of amounts payable after more than one year | 42 | €93,600 | €128,334 | +€34,734 | +37.1% |
| Financial debts | 43 | €672,527 | €587,315 | -€85,213 | -12.7% |
| Credit institutions | 430/8 | €672,527 | €587,315 | -€85,213 | -12.7% |
| Trade debts | 44 | €756,558 | €664,493 | -€92,065 | -12.2% |
| Suppliers | 440/4 | €756,558 | €664,493 | -€92,065 | -12.2% |
| Taxes, remuneration and social security | 45 | €17,190 | €24,091 | +€6,901 | +40.1% |
| Taxes | 450/3 | €175 | €1,137 | +€962 | +549.5% |
| Remuneration and social security | 454/9 | €17,015 | €22,954 | +€5,939 | +34.9% |
| Other amounts payable | 47/48 | €292,374 | €616,932 | +€324,559 | +111.0% |
| Accrued charges and deferred income | 492/3 | €118,524 | €26,031 | -€92,493 | -78.0% |
| Remuneration, social security and pensions | 62 | €113,752 | €70,549 | -€43,203 | -38.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,753 | €8,061 | +€308 | +4.0% |
| Other operating charges | 640/8 | €140,075 | €151,888 | +€11,813 | +8.4% |
| Gross operating margin | 9900 | €235,382 | €256,874 | +€21,492 | +9.1% |
| Operating profit (loss) | 9901 | -€26,198 | €26,377 | +€52,575 | |
| Financial income | 75/76B | €47,505 | €43,121 | -€4,384 | -9.2% |
| Recurring financial income | 75 | €47,505 | €43,121 | -€4,384 | -9.2% |
| Financial charges | 65/66B | €94,970 | €163,197 | +€68,227 | +71.8% |
| Recurring financial charges | 65 | €94,970 | €163,197 | +€68,227 | +71.8% |
| Profit (loss) for the period before taxes | 9903 | -€73,663 | -€93,700 | -€20,036 | -27.2% |
| Income taxes | 67/77 | €172 | €168 | -€4 | -2.4% |
| Profit (loss) for the period | 9904 | -€73,835 | -€93,867 | -€20,032 | -27.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€73,835 | -€93,867 | -€20,032 | -27.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.