Hard By Heart: 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.
Hard By Heart
Largest movements
- Receivables within one year -€34,715
down €34,715 (-56.6%), from €61,294 to €26,579
of which Trade receivables: -€35,497
- Financial fixed assets +€3,600
new in 2025: €3,600
- Trade debts -€22,795
down €22,795 (-50.9%), from €44,816 to €22,021
- Profit (loss) carried forward -€17,737
down €17,737 (-54.2%), from -€32,744 to -€50,481
- Other debts +€4,720
up €4,720 (+218%), from €2,161 to €6,881
- Tax, wage and social debts +€4,378
up €4,378 (+141%), from €3,097 to €7,475
of which Remuneration and social security: +€6,321
- Gross operating margin +€25,911
up €25,911, from -€14,137 to €11,774
- Staff costs +€24,274
new in 2025: €24,274
- Other operating charges -€12,847
down €12,847 (-91.5%), from €14,034 to €1,188
- Financial income +€1,063
up €1,063 (+1,699%), from €63 to €1,125
- Financial charges +€541
up €541 (+11.7%), from €4,635 to €5,175
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 | €64,107 | €33,142 | -€30,965 | -48.3% |
| Fixed assets | 21/28 | - | €3,600 | +€3,600 | |
| Financial fixed assets | 28 | - | €3,600 | +€3,600 | |
| Current assets | 29/58 | €64,107 | €29,542 | -€34,565 | -53.9% |
| Amounts receivable within one year | 40/41 | €61,294 | €26,579 | -€34,715 | -56.6% |
| Trade receivables | 40 | €43,684 | €8,186 | -€35,497 | -81.3% |
| Other amounts receivable | 41 | €17,610 | €18,392 | +€782 | +4.4% |
| Cash at bank and in hand | 54/58 | €2,813 | €2,628 | -€186 | -6.6% |
| Deferred charges and accrued income | 490/1 | - | €336 | +€336 | |
| Total equity and liabilities | 10/49 | €64,107 | €33,142 | -€30,965 | -48.3% |
| Equity | 10/15 | -€29,744 | -€47,481 | -€17,737 | -59.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,744 | -€50,481 | -€17,737 | -54.2% |
| Amounts payable | 17/49 | €93,851 | €80,623 | -€13,228 | -14.1% |
| Amounts payable after more than one year | 17 | €43,777 | €43,777 | = | 0.0% |
| Financial debts | 170/4 | €43,777 | €43,777 | = | 0.0% |
| Amounts payable within one year | 42/48 | €50,074 | €36,376 | -€13,698 | -27.4% |
| Trade debts | 44 | €44,816 | €22,021 | -€22,795 | -50.9% |
| Suppliers | 440/4 | €44,816 | €22,021 | -€22,795 | -50.9% |
| Taxes, remuneration and social security | 45 | €3,097 | €7,475 | +€4,378 | +141% |
| Taxes | 450/3 | €3,097 | €1,154 | -€1,943 | -62.7% |
| Remuneration and social security | 454/9 | - | €6,321 | +€6,321 | |
| Other amounts payable | 47/48 | €2,161 | €6,881 | +€4,720 | +218% |
| Accrued charges and deferred income | 492/3 | - | €470 | +€470 | |
| Remuneration, social security and pensions | 62 | - | €24,274 | +€24,274 | |
| Other operating charges | 640/8 | €14,034 | €1,188 | -€12,847 | -91.5% |
| Gross operating margin | 9900 | -€14,137 | €11,774 | +€25,911 | |
| Operating profit (loss) | 9901 | -€28,171 | -€13,687 | +€14,484 | +51.4% |
| Financial income | 75/76B | €63 | €1,125 | +€1,063 | +1,699% |
| Recurring financial income | 75 | €63 | €1,125 | +€1,063 | +1,699% |
| Financial charges | 65/66B | €4,635 | €5,175 | +€541 | +11.7% |
| Recurring financial charges | 65 | €4,635 | €5,175 | +€541 | +11.7% |
| Profit (loss) for the period before taxes | 9903 | -€32,744 | -€17,737 | +€15,006 | +45.8% |
| Profit (loss) for the period | 9904 | -€32,744 | -€17,737 | +€15,006 | +45.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,744 | -€17,737 | +€15,006 | +45.8% |
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 26 October 2026 via checked.be.