Harcon: 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.
Harcon
Largest movements
- Receivables within one year +€13,843
up €13,843 (+38.9%), from €35,543 to €49,386
of which Trade receivables: +€10,111
- Cash +€13,277
up €13,277 (+10.1%), from €131,660 to €144,937
mainly Other debts (+€75,755) and Tax, wage and social debts (+€28,391)
- Tangible fixed assets -€12,262
down €12,262 (-32.9%), from €37,325 to €25,062
of which Furniture and vehicles: -€9,244
- Intangible fixed assets +€7,796
new in 2025: €7,796
- Profit (loss) carried forward -€86,715
no longer reported in 2025 (was €86,715)
- Other debts +€75,755
up €75,755 (+135.5%), from €55,912 to €131,667
- Tax, wage and social debts +€28,391
up €28,391 (+53.9%), from €52,674 to €81,065
of which Remuneration and social security: +€28,800
- Trade debts +€5,550
up €5,550 (+72.6%), from €7,648 to €13,199
- Gross operating margin -€16,656
down €16,656 (-29.8%), from €55,843 to €39,188
- Taxes -€2,800
down €2,800 (-30.9%), from €9,068 to €6,268
- Financial charges -€2,499
down €2,499 (-43.7%), from €5,720 to €3,221
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 | €205,950 | €228,931 | +€22,981 | +11.2% |
| Fixed assets | 21/28 | €37,325 | €32,858 | -€4,467 | -12.0% |
| Intangible fixed assets | 21 | - | €7,796 | +€7,796 | |
| Tangible fixed assets | 22/27 | €37,325 | €25,062 | -€12,262 | -32.9% |
| Plant, machinery and equipment | 23 | €4,922 | €1,904 | -€3,018 | -61.3% |
| Furniture and vehicles | 24 | €32,402 | €23,158 | -€9,244 | -28.5% |
| Current assets | 29/58 | €168,626 | €196,073 | +€27,447 | +16.3% |
| Amounts receivable within one year | 40/41 | €35,543 | €49,386 | +€13,843 | +38.9% |
| Trade receivables | 40 | €35,543 | €45,654 | +€10,111 | +28.4% |
| Other amounts receivable | 41 | - | €3,732 | +€3,732 | |
| Cash at bank and in hand | 54/58 | €131,660 | €144,937 | +€13,277 | +10.1% |
| Deferred charges and accrued income | 490/1 | €1,422 | €1,750 | +€328 | +23.0% |
| Total equity and liabilities | 10/49 | €205,950 | €228,931 | +€22,981 | +11.2% |
| Equity | 10/15 | €89,715 | €3,000 | -€86,715 | -96.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,715 | - | -€86,715 | |
| Amounts payable | 17/49 | €116,235 | €225,931 | +€109,696 | +94.4% |
| Amounts payable within one year | 42/48 | €116,235 | €225,931 | +€109,696 | +94.4% |
| Trade debts | 44 | €7,648 | €13,199 | +€5,550 | +72.6% |
| Suppliers | 440/4 | €7,648 | €13,199 | +€5,550 | +72.6% |
| Taxes, remuneration and social security | 45 | €52,674 | €81,065 | +€28,391 | +53.9% |
| Taxes | 450/3 | €23,262 | €22,853 | -€409 | -1.8% |
| Remuneration and social security | 454/9 | €29,413 | €58,213 | +€28,800 | +97.9% |
| Other amounts payable | 47/48 | €55,912 | €131,667 | +€75,755 | +135.5% |
| Non-recurring operating income | 76A | €7,946 | - | -€7,946 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,622 | €13,751 | +€129 | +1.0% |
| Other operating charges | 640/8 | €350 | €62 | -€288 | -82.3% |
| Gross operating margin | 9900 | €55,843 | €39,188 | -€16,656 | -29.8% |
| Operating profit (loss) | 9901 | €41,872 | €25,375 | -€16,497 | -39.4% |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €5,720 | €3,221 | -€2,499 | -43.7% |
| Recurring financial charges | 65 | €5,720 | €3,221 | -€2,499 | -43.7% |
| Profit (loss) for the period before taxes | 9903 | €36,159 | €22,154 | -€14,005 | -38.7% |
| Income taxes | 67/77 | €9,068 | €6,268 | -€2,800 | -30.9% |
| Profit (loss) for the period | 9904 | €27,091 | €15,886 | -€11,205 | -41.4% |
| Profit (loss) for the period to be appropriated | 9905 | €27,091 | €15,886 | -€11,205 | -41.4% |
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 7 October 2026 via checked.be.