Hardwerken: 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.
Hardwerken
Largest movements
- Receivables within one year -€43,849
down €43,849 (-37.1%), from €118,109 to €74,260
of which Other amounts receivable: -€58,270
- Tangible fixed assets -€12,860
down €12,860 (-8.3%), from €154,094 to €141,234
of which Land and buildings: -€10,553
- Profit (loss) carried forward -€37,412
down €37,412 (-1,330%), from -€2,812 to -€40,225
- Accrued charges and deferred income -€30,240
down €30,240 (-99.0%), from €30,560 to €320
- Other debts +€27,993
new in 2025: €27,993
- Debts after one year -€18,859
down €18,859 (-37.1%), from €50,812 to €31,953
- Tax, wage and social debts -€6,062
down €6,062 (-46.9%), from €12,922 to €6,860
- Gross operating margin -€40,165
down €40,165, from €24,026 to -€16,139
- Financial charges -€2,514
down €2,514 (-27.9%), from €9,016 to €6,502
- Taxes -€2,150
down €2,150 (-87.8%), from €2,449 to €300
- Depreciation -€961
down €961 (-7.0%), from €13,821 to €12,860
- Other operating charges -€907
down €907 (-36.0%), from €2,520 to €1,613
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 | €287,636 | €228,441 | -€59,195 | -20.6% |
| Fixed assets | 21/28 | €154,122 | €141,262 | -€12,860 | -8.3% |
| Tangible fixed assets | 22/27 | €154,094 | €141,234 | -€12,860 | -8.3% |
| Land and buildings | 22 | €143,225 | €132,671 | -€10,553 | -7.4% |
| Plant, machinery and equipment | 23 | €707 | €459 | -€248 | -35.1% |
| Furniture and vehicles | 24 | €10,163 | €8,104 | -€2,058 | -20.3% |
| Financial fixed assets | 28 | €28 | €28 | = | 0.0% |
| Current assets | 29/58 | €133,514 | €87,179 | -€46,336 | -34.7% |
| Amounts receivable within one year | 40/41 | €118,109 | €74,260 | -€43,849 | -37.1% |
| Trade receivables | 40 | €59,839 | €74,260 | +€14,421 | +24.1% |
| Other amounts receivable | 41 | €58,270 | - | -€58,270 | |
| Cash at bank and in hand | 54/58 | €11,928 | €10,841 | -€1,087 | -9.1% |
| Deferred charges and accrued income | 490/1 | €3,477 | €2,077 | -€1,399 | -40.2% |
| Total equity and liabilities | 10/49 | €287,636 | €228,441 | -€59,195 | -20.6% |
| Equity | 10/15 | €163,348 | €125,935 | -€37,412 | -22.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €159,960 | €159,960 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €158,100 | €158,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,812 | -€40,225 | -€37,412 | -1,330% |
| Amounts payable | 17/49 | €124,288 | €102,505 | -€21,783 | -17.5% |
| Amounts payable after more than one year | 17 | €50,812 | €31,953 | -€18,859 | -37.1% |
| Financial debts | 170/4 | €50,812 | €31,953 | -€18,859 | -37.1% |
| Amounts payable within one year | 42/48 | €42,917 | €70,232 | +€27,316 | +63.6% |
| Current portion of amounts payable after more than one year | 42 | €17,897 | €18,859 | +€962 | +5.4% |
| Trade debts | 44 | €12,097 | €16,521 | +€4,424 | +36.6% |
| Suppliers | 440/4 | €12,097 | €16,521 | +€4,424 | +36.6% |
| Taxes, remuneration and social security | 45 | €12,922 | €6,860 | -€6,062 | -46.9% |
| Taxes | 450/3 | €12,922 | €6,860 | -€6,062 | -46.9% |
| Other amounts payable | 47/48 | - | €27,993 | +€27,993 | |
| Accrued charges and deferred income | 492/3 | €30,560 | €320 | -€30,240 | -99.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,821 | €12,860 | -€961 | -7.0% |
| Other operating charges | 640/8 | €2,520 | €1,613 | -€907 | -36.0% |
| Gross operating margin | 9900 | €24,026 | -€16,139 | -€40,165 | |
| Operating profit (loss) | 9901 | €7,685 | -€30,611 | -€38,297 | |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €9,016 | €6,502 | -€2,514 | -27.9% |
| Recurring financial charges | 65 | €9,016 | €6,502 | -€2,514 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,325 | -€37,113 | -€35,787 | -2,700% |
| Income taxes | 67/77 | €2,449 | €300 | -€2,150 | -87.8% |
| Profit (loss) for the period | 9904 | -€3,775 | -€37,412 | -€33,638 | -891% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,775 | -€37,412 | -€33,638 | -891% |
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 30 October 2026 via checked.be.