Harduz: what changed
Harduz
Largest movements
- Current investments +€24,157
up €24,157 (+50.3%), from €48,000 to €72,157
- Cash -€13,687
down €13,687 (-31.9%), from €42,858 to €29,172
mainly Contributions, distributions and other (-€135,000) and Current investments (-€24,157)
- Tangible fixed assets -€2,743
down €2,743 (-18.3%), from €15,016 to €12,273
of which Furniture and vehicles: -€1,767
- Receivables within one year -€2,524
down €2,524 (-35.4%), from €7,125 to €4,602
of which Trade receivables: -€2,500
- Other debts +€80,202
up €80,202 (+429%), from €18,701 to €98,902
- Reserves -€42,512
down €42,512 (-97.8%), from €43,466 to €955
- Profit (loss) carried forward -€33,345
down €33,345 (-80.4%), from €41,488 to €8,144
- Trade debts -€3,816
down €3,816 (-80.6%), from €4,733 to €918
- Tax, wage and social debts +€2,945
up €2,945 (+144%), from €2,050 to €4,996
- Gross operating margin +€21,843
up €21,843 (+38.3%), from €56,988 to €78,831
- Taxes +€3,968
up €3,968 (+31.7%), from €12,497 to €16,465
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €113,439 | €118,565 | +€5,126 | +4.5% |
| Fixed assets | 21/28 | €15,016 | €12,273 | -€2,743 | -18.3% |
| Tangible fixed assets | 22/27 | €15,016 | €12,273 | -€2,743 | -18.3% |
| Furniture and vehicles | 24 | €8,097 | €6,330 | -€1,767 | -21.8% |
| Other tangible fixed assets | 26 | €6,919 | €5,943 | -€976 | -14.1% |
| Current assets | 29/58 | €98,423 | €106,292 | +€7,869 | +8.0% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €7,125 | €4,602 | -€2,524 | -35.4% |
| Trade receivables | 40 | €3,503 | €1,003 | -€2,500 | -71.4% |
| Other amounts receivable | 41 | €3,623 | €3,599 | -€24 | -0.7% |
| Current investments | 50/53 | €48,000 | €72,157 | +€24,157 | +50.3% |
| Cash at bank and in hand | 54/58 | €42,858 | €29,172 | -€13,687 | -31.9% |
| Deferred charges and accrued income | 490/1 | €439 | €362 | -€78 | -17.7% |
| Total equity and liabilities | 10/49 | €113,439 | €118,565 | +€5,126 | +4.5% |
| Equity | 10/15 | €87,955 | €12,098 | -€75,856 | -86.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €43,466 | €955 | -€42,512 | -97.8% |
| Distributable reserves | 133 | €43,466 | €955 | -€42,512 | -97.8% |
| Profit (loss) carried forward | 14 | €41,488 | €8,144 | -€33,345 | -80.4% |
| Amounts payable | 17/49 | €25,484 | €106,467 | +€80,983 | +318% |
| Amounts payable within one year | 42/48 | €25,484 | €104,816 | +€79,331 | +311% |
| Trade debts | 44 | €4,733 | €918 | -€3,816 | -80.6% |
| Suppliers | 440/4 | €4,733 | €918 | -€3,816 | -80.6% |
| Taxes, remuneration and social security | 45 | €2,050 | €4,996 | +€2,945 | +144% |
| Taxes | 450/3 | €2,050 | €4,996 | +€2,945 | +144% |
| Other amounts payable | 47/48 | €18,701 | €98,902 | +€80,202 | +429% |
| Accrued charges and deferred income | 492/3 | - | €1,651 | +€1,651 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,672 | €2,743 | +€71 | +2.6% |
| Other operating charges | 640/8 | €855 | €700 | -€156 | -18.2% |
| Gross operating margin | 9900 | €56,988 | €78,831 | +€21,843 | +38.3% |
| Operating profit (loss) | 9901 | €53,460 | €75,388 | +€21,929 | +41.0% |
| Financial income | 75/76B | €760 | €1,015 | +€255 | +33.6% |
| Recurring financial income | 75 | €760 | €1,015 | +€255 | +33.6% |
| Financial charges | 65/66B | €234 | €795 | +€561 | +240% |
| Recurring financial charges | 65 | €234 | €795 | +€561 | +240% |
| Profit (loss) for the period before taxes | 9903 | €53,986 | €75,609 | +€21,623 | +40.1% |
| Income taxes | 67/77 | €12,497 | €16,465 | +€3,968 | +31.7% |
| Profit (loss) for the period | 9904 | €41,488 | €59,144 | +€17,655 | +42.6% |
| Profit (loss) for the period to be appropriated | 9905 | €41,488 | €59,144 | +€17,655 | +42.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.