HARDEWYN: 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.
HARDEWYN
Largest movements
- Current investments -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Cash -€45,070
down €45,070 (-25.5%), from €176,781 to €131,711
mainly Net result for the year (-€74,486) and Other debts (-€47,570)
- Receivables within one year +€3,554
up €3,554, from €0 to €3,554
of which Other amounts receivable: +€3,554
- Deferred charges and accrued income -€2,991
down €2,991 (-46.3%), from €6,459 to €3,468
- Profit (loss) carried forward -€74,486
down €74,486, from €0 to -€74,486
- Other debts -€47,570
down €47,570 (-100.0%), from €47,570 to €0
- Contributions -€17,600
down €17,600 (-94.6%), from €18,600 to €1,000
- Tax, wage and social debts -€6,699
down €6,699 (-52.5%), from €12,768 to €6,069
- Gross operating margin -€171,832
down €171,832, from €96,521 to -€75,312
- Taxes -€12,649
down €12,649 (-98.9%), from €12,793 to €144
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 | €286,915 | €140,967 | -€145,948 | -50.9% |
| Fixed assets | 21/28 | €3,675 | €2,233 | -€1,442 | -39.2% |
| Tangible fixed assets | 22/27 | €3,675 | €2,233 | -€1,442 | -39.2% |
| Furniture and vehicles | 24 | €3,675 | €2,233 | -€1,442 | -39.2% |
| Current assets | 29/58 | €283,240 | €138,734 | -€144,507 | -51.0% |
| Amounts receivable within one year | 40/41 | €0 | €3,554 | +€3,554 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | €3,554 | +€3,554 | |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €176,781 | €131,711 | -€45,070 | -25.5% |
| Deferred charges and accrued income | 490/1 | €6,459 | €3,468 | -€2,991 | -46.3% |
| Total equity and liabilities | 10/49 | €286,915 | €140,967 | -€145,948 | -50.9% |
| Equity | 10/15 | €225,380 | €133,293 | -€92,086 | -40.9% |
| Contributions | 10/11 | €18,600 | €1,000 | -€17,600 | -94.6% |
| Reserves | 13 | €206,780 | €206,780 | = | 0.0% |
| Distributable reserves | 133 | €206,780 | €206,780 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€74,486 | -€74,486 | |
| Amounts payable | 17/49 | €61,535 | €7,673 | -€53,862 | -87.5% |
| Amounts payable within one year | 42/48 | €60,985 | €7,499 | -€53,486 | -87.7% |
| Trade debts | 44 | €648 | €1,430 | +€782 | +120.7% |
| Suppliers | 440/4 | €648 | €1,430 | +€782 | +120.7% |
| Taxes, remuneration and social security | 45 | €12,768 | €6,069 | -€6,699 | -52.5% |
| Taxes | 450/3 | €12,768 | €6,069 | -€6,699 | -52.5% |
| Other amounts payable | 47/48 | €47,570 | €0 | -€47,570 | -100.0% |
| Accrued charges and deferred income | 492/3 | €550 | €174 | -€376 | -68.3% |
| Non-recurring operating income | 76A | €343 | €0 | -€343 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,249 | €2,137 | -€111 | -5.0% |
| Other operating charges | 640/8 | €786 | €812 | +€26 | +3.3% |
| Gross operating margin | 9900 | €96,521 | -€75,312 | -€171,832 | |
| Operating profit (loss) | 9901 | €93,487 | -€78,261 | -€171,747 | |
| Financial income | 75/76B | €4,127 | €3,983 | -€144 | -3.5% |
| Recurring financial income | 75 | €4,127 | €3,983 | -€144 | -3.5% |
| Financial charges | 65/66B | €54 | €65 | +€11 | +19.9% |
| Recurring financial charges | 65 | €54 | €65 | +€11 | +19.9% |
| Profit (loss) for the period before taxes | 9903 | €97,560 | -€74,343 | -€171,902 | |
| Income taxes | 67/77 | €12,793 | €144 | -€12,649 | -98.9% |
| Profit (loss) for the period | 9904 | €84,766 | -€74,486 | -€159,253 | |
| Profit (loss) for the period to be appropriated | 9905 | €84,766 | -€74,486 | -€159,253 |
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 10 October 2026 via checked.be.