Harinvest: 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.
Harinvest
Largest movements
- Cash +€59,430
up €59,430 (+194%), from €30,577 to €90,006
mainly Depreciation (+€50,639) and Net result for the year (+€29,085)
- Tangible fixed assets -€50,639
down €50,639 (-3.7%), from €1.4m to €1.3m
- Reserves +€29,085
up €29,085 (+2.3%), from €1.3m to €1.3m
of which Distributable reserves: +€57,665
- Gross operating margin +€62,037
up €62,037 (+195%), from €31,739 to €93,776
- Financial charges -€19,918
down €19,918 (-91.0%), from €21,898 to €1,980
- Taxes +€18,436
up €18,436 (+1,792%), from €1,029 to €19,465
- Financial income -€15,678
down €15,678 (-72.8%), from €21,529 to €5,851
- Depreciation +€4,834
up €4,834 (+10.6%), from €45,805 to €50,639
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 | €1,882,239 | €1,892,577 | +€10,339 | +0.5% |
| Fixed assets | 21/28 | €1,367,739 | €1,317,100 | -€50,639 | -3.7% |
| Tangible fixed assets | 22/27 | €1,367,739 | €1,317,100 | -€50,639 | -3.7% |
| Land and buildings | 22 | €1,367,739 | €1,317,100 | -€50,639 | -3.7% |
| Current assets | 29/58 | €514,500 | €575,477 | +€60,977 | +11.9% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €482,150 | €483,809 | +€1,659 | +0.3% |
| Other amounts receivable | 41 | €482,150 | €483,809 | +€1,659 | +0.3% |
| Cash at bank and in hand | 54/58 | €30,577 | €90,006 | +€59,430 | +194% |
| Deferred charges and accrued income | 490/1 | €1,773 | €1,662 | -€111 | -6.3% |
| Total equity and liabilities | 10/49 | €1,882,239 | €1,892,577 | +€10,339 | +0.5% |
| Equity | 10/15 | €1,602,640 | €1,631,725 | +€29,085 | +1.8% |
| Contributions | 10/11 | €347,051 | €347,051 | = | 0.0% |
| Capital | 10 | €347,051 | €347,051 | = | 0.0% |
| Issued capital | 100 | €347,051 | €347,051 | = | 0.0% |
| Reserves | 13 | €1,255,589 | €1,284,674 | +€29,085 | +2.3% |
| Non-distributable reserves | 130/1 | €34,705 | €34,705 | = | 0.0% |
| Legal reserve | 130 | €34,705 | €34,705 | = | 0.0% |
| Tax-exempt reserves | 132 | €626,840 | €598,260 | -€28,580 | -4.6% |
| Distributable reserves | 133 | €594,044 | €651,708 | +€57,665 | +9.7% |
| Provisions and deferred taxes | 16 | €208,947 | €199,420 | -€9,527 | -4.6% |
| Deferred taxes | 168 | €208,947 | €199,420 | -€9,527 | -4.6% |
| Amounts payable | 17/49 | €70,652 | €61,433 | -€9,220 | -13.0% |
| Amounts payable after more than one year | 17 | €49,852 | €37,984 | -€11,868 | -23.8% |
| Financial debts | 170/4 | €49,852 | €37,984 | -€11,868 | -23.8% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €13,262 | €15,708 | +€2,445 | +18.4% |
| Current portion of amounts payable after more than one year | 42 | €11,492 | €11,868 | +€376 | +3.3% |
| Trade debts | 44 | €1,770 | €3,374 | +€1,604 | +90.6% |
| Suppliers | 440/4 | €1,770 | €3,374 | +€1,604 | +90.6% |
| Taxes, remuneration and social security | 45 | €0 | €465 | +€465 | |
| Taxes | 450/3 | €0 | €465 | +€465 | |
| Accrued charges and deferred income | 492/3 | €7,538 | €7,741 | +€203 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,805 | €50,639 | +€4,834 | +10.6% |
| Other operating charges | 640/8 | €7,974 | €7,985 | +€10 | +0.1% |
| Gross operating margin | 9900 | €31,739 | €93,776 | +€62,037 | +195% |
| Operating profit (loss) | 9901 | -€22,040 | €35,153 | +€57,193 | |
| Financial income | 75/76B | €21,529 | €5,851 | -€15,678 | -72.8% |
| Recurring financial income | 75 | €21,529 | €5,851 | -€15,678 | -72.8% |
| Financial charges | 65/66B | €21,898 | €1,980 | -€19,918 | -91.0% |
| Recurring financial charges | 65 | €21,898 | €1,980 | -€19,918 | -91.0% |
| Profit (loss) for the period before taxes | 9903 | -€22,409 | €39,024 | +€61,433 | |
| Transfer from deferred taxes | 780 | €7,357 | €9,527 | +€2,169 | +29.5% |
| Income taxes | 67/77 | €1,029 | €19,465 | +€18,436 | +1,792% |
| Profit (loss) for the period | 9904 | -€16,081 | €29,085 | +€45,166 | |
| Transfer from tax-exempt reserves | 789 | €22,072 | €28,580 | +€6,508 | +29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €5,991 | €57,665 | +€51,674 | +863% |
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 1 November 2026 via checked.be.