Hardavur: 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.
Hardavur
Largest movements
- Stocks and contracts -€660,169
down €660,169 (-36.5%), from €1.8m to €1.1m
- Receivables within one year +€547,131
up €547,131 (+1951.5%), from €28,036 to €575,166
of which Trade receivables: +€547,012
- Cash -€95,878
down €95,878 (-71.9%), from €133,304 to €37,426
mainly Receivables within one year (-€547,131) and Advances received (-€413,759)
- Tangible fixed assets -€37,203
down €37,203 (-58.6%), from €63,459 to €26,256
- Advances received -€413,759
down €413,759 (-73.7%), from €561,501 to €147,742
- Trade debts +€194,100
up €194,100 (+41.4%), from €468,561 to €662,661
- Tax, wage and social debts -€20,937
down €20,937 (-23.8%), from €88,151 to €67,214
of which Taxes: -€28,426
- Gross operating margin -€131,124
down €131,124 (-20.7%), from €633,963 to €502,839
- Staff costs -€123,955
down €123,955 (-23.1%), from €537,153 to €413,198
- Depreciation -€28,273
down €28,273 (-43.3%), from €65,322 to €37,049
- Other operating charges +€26,862
up €26,862 (+273.4%), from €9,826 to €36,687
- Financial charges -€11,856
down €11,856 (-44.0%), from €26,938 to €15,082
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 | €2,047,797 | €1,793,883 | -€253,914 | -12.4% |
| Fixed assets | 21/28 | €67,393 | €28,603 | -€38,791 | -57.6% |
| Intangible fixed assets | 21 | €3,431 | €1,612 | -€1,819 | -53.0% |
| Tangible fixed assets | 22/27 | €63,459 | €26,256 | -€37,203 | -58.6% |
| Land and buildings | 22 | €12,640 | €3,991 | -€8,650 | -68.4% |
| Plant, machinery and equipment | 23 | €21,167 | €10,733 | -€10,434 | -49.3% |
| Furniture and vehicles | 24 | €23,407 | €11,532 | -€11,875 | -50.7% |
| Leasing and similar rights | 25 | €6,245 | €0 | -€6,245 | -100.0% |
| Financial fixed assets | 28 | €503 | €734 | +€231 | +46.0% |
| Current assets | 29/58 | €1,980,404 | €1,765,281 | -€215,124 | -10.9% |
| Stocks and contracts in progress | 3 | €1,808,219 | €1,148,050 | -€660,169 | -36.5% |
| Stocks | 30/36 | €1,808,219 | €1,148,050 | -€660,169 | -36.5% |
| Amounts receivable within one year | 40/41 | €28,036 | €575,166 | +€547,131 | +1951.5% |
| Trade receivables | 40 | €28,036 | €575,048 | +€547,012 | +1951.1% |
| Other amounts receivable | 41 | - | €118 | +€118 | |
| Cash at bank and in hand | 54/58 | €133,304 | €37,426 | -€95,878 | -71.9% |
| Deferred charges and accrued income | 490/1 | €10,845 | €4,638 | -€6,207 | -57.2% |
| Total equity and liabilities | 10/49 | €2,047,797 | €1,793,883 | -€253,914 | -12.4% |
| Equity | 10/15 | €438,918 | €431,701 | -€7,216 | -1.6% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Outside capital | 11 | €110,000 | - | -€110,000 | |
| Other | 1109/19 | €110,000 | - | -€110,000 | |
| Reserves | 13 | €164,000 | €164,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €164,000 | - | -€164,000 | |
| Other | 1319 | €164,000 | - | -€164,000 | |
| Distributable reserves | 133 | - | €164,000 | +€164,000 | |
| Profit (loss) carried forward | 14 | €164,918 | €157,701 | -€7,216 | -4.4% |
| Amounts payable | 17/49 | €1,608,880 | €1,362,182 | -€246,698 | -15.3% |
| Amounts payable after more than one year | 17 | €20,211 | €0 | -€20,211 | -100.0% |
| Financial debts | 170/4 | €20,211 | €0 | -€20,211 | -100.0% |
| Amounts payable within one year | 42/48 | €1,588,669 | €1,362,182 | -€226,487 | -14.3% |
| Current portion of amounts payable after more than one year | 42 | €24,292 | €20,211 | -€4,081 | -16.8% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Credit institutions | 430/8 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €468,561 | €662,661 | +€194,100 | +41.4% |
| Suppliers | 440/4 | €468,561 | €662,661 | +€194,100 | +41.4% |
| Advances received on contracts in progress | 46 | €561,501 | €147,742 | -€413,759 | -73.7% |
| Taxes, remuneration and social security | 45 | €88,151 | €67,214 | -€20,937 | -23.8% |
| Taxes | 450/3 | €73,975 | €45,548 | -€28,426 | -38.4% |
| Remuneration and social security | 454/9 | €14,177 | €21,666 | +€7,489 | +52.8% |
| Other amounts payable | 47/48 | €246,164 | €264,354 | +€18,190 | +7.4% |
| Remuneration, social security and pensions | 62 | €537,153 | €413,198 | -€123,955 | -23.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,322 | €37,049 | -€28,273 | -43.3% |
| Other operating charges | 640/8 | €9,826 | €36,687 | +€26,862 | +273.4% |
| Gross operating margin | 9900 | €633,963 | €502,839 | -€131,124 | -20.7% |
| Operating profit (loss) | 9901 | €21,662 | €15,905 | -€5,757 | -26.6% |
| Financial income | 75/76B | €511 | €472 | -€39 | -7.5% |
| Recurring financial income | 75 | €511 | €472 | -€39 | -7.5% |
| Financial charges | 65/66B | €26,938 | €15,082 | -€11,856 | -44.0% |
| Recurring financial charges | 65 | €26,938 | €15,082 | -€11,856 | -44.0% |
| Profit (loss) for the period before taxes | 9903 | -€4,766 | €1,294 | +€6,060 | |
| Income taxes | 67/77 | €3,002 | €8,511 | +€5,508 | +183.5% |
| Profit (loss) for the period | 9904 | -€7,768 | -€7,216 | +€551 | +7.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,768 | -€7,216 | +€551 | +7.1% |
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 8 October 2026 via checked.be.