HARMAR: 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.
HARMAR
Largest movements
- Cash +€16,882
up €16,882 (+18.1%), from €93,124 to €110,006
mainly Net result for the year (+€25,074) and Depreciation (+€1,344)
- Receivables within one year +€9,536
up €9,536 (+17.5%), from €54,545 to €64,081
of which Other amounts receivable: +€9,536
- Profit (loss) carried forward +€25,074
up €25,074 (+9.1%), from €275,212 to €300,287
- Gross operating margin -€22,078
down €22,078 (-34.4%), from €64,234 to €42,156
- Taxes -€4,849
down €4,849 (-36.1%), from €13,419 to €8,570
- Financial charges +€1,864
up €1,864 (+727.1%), from €256 to €2,120
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 | €306,636 | €331,711 | +€25,074 | +8.2% |
| Fixed assets | 21/28 | €158,968 | €157,624 | -€1,344 | -0.8% |
| Tangible fixed assets | 22/27 | €158,968 | €157,624 | -€1,344 | -0.8% |
| Land and buildings | 22 | €156,933 | €156,674 | -€259 | -0.2% |
| Furniture and vehicles | 24 | €2,035 | €950 | -€1,085 | -53.3% |
| Current assets | 29/58 | €147,669 | €174,087 | +€26,418 | +17.9% |
| Amounts receivable within one year | 40/41 | €54,545 | €64,081 | +€9,536 | +17.5% |
| Trade receivables | 40 | €46,625 | €46,625 | = | 0.0% |
| Other amounts receivable | 41 | €7,919 | €17,455 | +€9,536 | +120.4% |
| Cash at bank and in hand | 54/58 | €93,124 | €110,006 | +€16,882 | +18.1% |
| Total equity and liabilities | 10/49 | €306,636 | €331,711 | +€25,074 | +8.2% |
| Equity | 10/15 | €295,664 | €320,739 | +€25,074 | +8.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €275,212 | €300,287 | +€25,074 | +9.1% |
| Amounts payable | 17/49 | €10,972 | €10,972 | = | 0.0% |
| Amounts payable within one year | 42/48 | €10,972 | €10,972 | = | 0.0% |
| Advances received on contracts in progress | 46 | €7,572 | €7,572 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €3,400 | €3,400 | = | 0.0% |
| Taxes | 450/3 | €3,400 | €3,400 | = | 0.0% |
| Non-recurring operating income | 76A | €19,500 | - | -€19,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,344 | €1,344 | = | 0.0% |
| Other operating charges | 640/8 | €5,248 | €5,048 | -€200 | -3.8% |
| Gross operating margin | 9900 | €64,234 | €42,156 | -€22,078 | -34.4% |
| Operating profit (loss) | 9901 | €57,642 | €35,765 | -€21,877 | -38.0% |
| Financial income | 75/76B | €1 | €0 | -€1 | -72.7% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -72.7% |
| Financial charges | 65/66B | €256 | €2,120 | +€1,864 | +727.1% |
| Recurring financial charges | 65 | €256 | €2,120 | +€1,864 | +727.1% |
| Profit (loss) for the period before taxes | 9903 | €57,386 | €33,644 | -€23,742 | -41.4% |
| Income taxes | 67/77 | €13,419 | €8,570 | -€4,849 | -36.1% |
| Profit (loss) for the period | 9904 | €43,968 | €25,074 | -€18,893 | -43.0% |
| Profit (loss) for the period to be appropriated | 9905 | €43,968 | €25,074 | -€18,893 | -43.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.