HARJAS: 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.
HARJAS
Largest movements
- Cash +€129,568
up €129,568 (+376.1%), from €34,448 to €164,016
mainly Net result for the year (+€57,552) and Stocks and contracts (+€52,051)
- Stocks and contracts -€52,051
down €52,051 (-59.0%), from €88,162 to €36,112
- Receivables within one year +€44,879
new in 2025: €44,879
of which Trade receivables: +€38,815
- Deferred charges and accrued income +€2,640
up €2,640 (+185.2%), from €1,426 to €4,066
- Reserves +€57,552
up €57,552 (+88.8%), from €64,823 to €122,375
of which Distributable reserves: +€57,552
- Tax, wage and social debts +€36,507
up €36,507 (+433.9%), from €8,413 to €44,919
of which Remuneration and social security: +€18,754
- Trade debts +€33,099
up €33,099 (+805.5%), from €4,109 to €37,208
- Other debts -€3,369
down €3,369 (-8.9%), from €37,963 to €34,594
- Gross operating margin +€76,716
up €76,716 (+162.7%), from €47,144 to €123,860
- Taxes +€20,956
up €20,956 (+1930.8%), from €1,085 to €22,041
- Staff costs +€3,674
up €3,674 (+11.3%), from €32,495 to €36,169
- Other operating charges -€2,092
down €2,092 (-30.6%), from €6,831 to €4,739
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 | €133,907 | €257,696 | +€123,789 | +92.4% |
| Fixed assets | 21/28 | €9,872 | €8,624 | -€1,248 | -12.6% |
| Tangible fixed assets | 22/27 | €6,872 | €4,956 | -€1,916 | -27.9% |
| Furniture and vehicles | 24 | €6,872 | €4,956 | -€1,916 | -27.9% |
| Financial fixed assets | 28 | €3,000 | €3,668 | +€668 | +22.3% |
| Current assets | 29/58 | €124,036 | €249,072 | +€125,037 | +100.8% |
| Stocks and contracts in progress | 3 | €88,162 | €36,112 | -€52,051 | -59.0% |
| Stocks | 30/36 | €88,162 | €36,112 | -€52,051 | -59.0% |
| Amounts receivable within one year | 40/41 | - | €44,879 | +€44,879 | |
| Trade receivables | 40 | - | €38,815 | +€38,815 | |
| Other amounts receivable | 41 | - | €6,064 | +€6,064 | |
| Cash at bank and in hand | 54/58 | €34,448 | €164,016 | +€129,568 | +376.1% |
| Deferred charges and accrued income | 490/1 | €1,426 | €4,066 | +€2,640 | +185.2% |
| Total equity and liabilities | 10/49 | €133,907 | €257,696 | +€123,789 | +92.4% |
| Equity | 10/15 | €83,423 | €140,975 | +€57,552 | +69.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €64,823 | €122,375 | +€57,552 | +88.8% |
| 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 | €62,963 | €120,515 | +€57,552 | +91.4% |
| Amounts payable | 17/49 | €50,485 | €116,722 | +€66,237 | +131.2% |
| Amounts payable within one year | 42/48 | €50,485 | €116,722 | +€66,237 | +131.2% |
| Trade debts | 44 | €4,109 | €37,208 | +€33,099 | +805.5% |
| Suppliers | 440/4 | €4,109 | €37,208 | +€33,099 | +805.5% |
| Taxes, remuneration and social security | 45 | €8,413 | €44,919 | +€36,507 | +433.9% |
| Taxes | 450/3 | €4,289 | €22,041 | +€17,752 | +413.9% |
| Remuneration and social security | 454/9 | €4,124 | €22,878 | +€18,754 | +454.8% |
| Other amounts payable | 47/48 | €37,963 | €34,594 | -€3,369 | -8.9% |
| Non-recurring operating income | 76A | €2,000 | €0 | -€2,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €32,495 | €36,169 | +€3,674 | +11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,916 | €1,916 | = | 0.0% |
| Other operating charges | 640/8 | €6,831 | €4,739 | -€2,092 | -30.6% |
| Gross operating margin | 9900 | €47,144 | €123,860 | +€76,716 | +162.7% |
| Operating profit (loss) | 9901 | €5,902 | €81,036 | +€75,135 | +1273.1% |
| Financial income | 75/76B | €2 | €0 | -€2 | -92.5% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -92.5% |
| Financial charges | 65/66B | €1,109 | €1,443 | +€334 | +30.2% |
| Recurring financial charges | 65 | €1,109 | €1,443 | +€334 | +30.2% |
| Profit (loss) for the period before taxes | 9903 | €4,795 | €79,593 | +€74,798 | +1559.9% |
| Income taxes | 67/77 | €1,085 | €22,041 | +€20,956 | +1930.8% |
| Profit (loss) for the period | 9904 | €3,710 | €57,552 | +€53,842 | +1451.3% |
| Profit (loss) for the period to be appropriated | 9905 | €3,710 | €57,552 | +€53,842 | +1451.3% |
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 7 October 2026 via checked.be.