HARMAKHIS: 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.
HARMAKHIS
Largest movements
- Tangible fixed assets -€46,334
down €46,334 (-7.2%), from €640,141 to €593,807
of which Land and buildings: -€41,697
- Debts after one year -€248,288
down €248,288 (-29.6%), from €837,463 to €589,175
of which Other amounts payable: -€317,678
- Other debts +€204,408
up €204,408 (+931.2%), from €21,950 to €226,358
- Current portion of long-term debt +€14,208
up €14,208 (+33.4%), from €42,521 to €56,729
- Profit (loss) carried forward -€8,328
down €8,328 (-2.7%), from -€307,067 to -€315,395
- Trade debts -€7,013
down €7,013 (-49.2%), from €14,243 to €7,230
- Gross operating margin +€6,100
up €6,100 (+6.9%), from €88,688 to €94,788
- Other operating charges +€4,107
up €4,107 (+18.9%), from €21,762 to €25,868
- Financial charges +€3,483
up €3,483 (+23.9%), from €14,577 to €18,059
- Depreciation +€1,944
up €1,944 (+3.4%), from €57,245 to €59,189
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 | €664,110 | €619,936 | -€44,174 | -6.7% |
| Fixed assets | 21/28 | €640,141 | €593,807 | -€46,334 | -7.2% |
| Tangible fixed assets | 22/27 | €640,141 | €593,807 | -€46,334 | -7.2% |
| Land and buildings | 22 | €632,857 | €591,160 | -€41,697 | -6.6% |
| Plant, machinery and equipment | 23 | €560 | €94 | -€465 | -83.2% |
| Furniture and vehicles | 24 | €6,725 | €2,553 | -€4,171 | -62.0% |
| Current assets | 29/58 | €23,968 | €26,129 | +€2,160 | +9.0% |
| Amounts receivable within one year | 40/41 | €22,053 | €18,970 | -€3,083 | -14.0% |
| Trade receivables | 40 | €21,956 | €16,349 | -€5,607 | -25.5% |
| Other amounts receivable | 41 | €96 | €2,621 | +€2,524 | +2618.1% |
| Cash at bank and in hand | 54/58 | €1,916 | €6,295 | +€4,380 | +228.6% |
| Deferred charges and accrued income | 490/1 | - | €864 | +€864 | |
| Total equity and liabilities | 10/49 | €664,110 | €619,936 | -€44,174 | -6.7% |
| Equity | 10/15 | -€252,067 | -€260,395 | -€8,328 | -3.3% |
| Contributions | 10/11 | €50,000 | €55,000 | +€5,000 | +10.0% |
| Capital | 10 | €50,000 | - | -€50,000 | |
| Issued capital | 100 | €50,000 | - | -€50,000 | |
| Reserves | 13 | €5,000 | - | -€5,000 | |
| Non-distributable reserves | 130/1 | €5,000 | - | -€5,000 | |
| Legal reserve | 130 | €5,000 | - | -€5,000 | |
| Profit (loss) carried forward | 14 | -€307,067 | -€315,395 | -€8,328 | -2.7% |
| Amounts payable | 17/49 | €916,177 | €880,331 | -€35,846 | -3.9% |
| Amounts payable after more than one year | 17 | €837,463 | €589,175 | -€248,288 | -29.6% |
| Financial debts | 170/4 | €519,785 | €589,175 | +€69,390 | +13.3% |
| Other amounts payable | 178/9 | €317,678 | - | -€317,678 | |
| Amounts payable within one year | 42/48 | €78,714 | €291,156 | +€212,442 | +269.9% |
| Current portion of amounts payable after more than one year | 42 | €42,521 | €56,729 | +€14,208 | +33.4% |
| Trade debts | 44 | €14,243 | €7,230 | -€7,013 | -49.2% |
| Suppliers | 440/4 | €14,243 | €7,230 | -€7,013 | -49.2% |
| Taxes, remuneration and social security | 45 | - | €839 | +€839 | |
| Taxes | 450/3 | - | €839 | +€839 | |
| Other amounts payable | 47/48 | €21,950 | €226,358 | +€204,408 | +931.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,245 | €59,189 | +€1,944 | +3.4% |
| Other operating charges | 640/8 | €21,762 | €25,868 | +€4,107 | +18.9% |
| Gross operating margin | 9900 | €88,688 | €94,788 | +€6,100 | +6.9% |
| Operating profit (loss) | 9901 | €9,681 | €9,731 | +€50 | +0.5% |
| Financial income | 75/76B | €116 | €1 | -€115 | -99.4% |
| Recurring financial income | 75 | €116 | €1 | -€115 | -99.4% |
| Financial charges | 65/66B | €14,577 | €18,059 | +€3,483 | +23.9% |
| Recurring financial charges | 65 | €14,577 | €18,059 | +€3,483 | +23.9% |
| Profit (loss) for the period before taxes | 9903 | -€4,780 | -€8,328 | -€3,548 | -74.2% |
| Profit (loss) for the period | 9904 | -€4,780 | -€8,328 | -€3,548 | -74.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,780 | -€8,328 | -€3,548 | -74.2% |
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 2 October 2026 via checked.be.