HARMONIA: 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.
HARMONIA
Largest movements
- Financial fixed assets +€14,000
up €14,000 (+11.9%), from €117,164 to €131,164
- Cash -€7,474
down €7,474 (-41.7%), from €17,925 to €10,452
mainly Investment in fixed assets (net) (-€14,608) and Short-term financial debts (-€4,182)
- Receivables within one year +€3,530
up €3,530 (+30.0%), from €11,767 to €15,296
of which Trade receivables: +€7,210
- Profit (loss) carried forward +€6,240
up €6,240 (+12.5%), from €50,011 to €56,252
- Trade debts +€4,208
up €4,208 (+13072.9%), from €32 to €4,240
- Short-term financial debts -€4,182
no longer reported in 2025 (was €4,182)
- Current portion of long-term debt +€2,026
up €2,026 (+18.3%), from €11,055 to €13,081
- Financial income -€16,918
down €16,918 (-96.1%), from €17,598 to €680
- Gross operating margin +€3,307
up €3,307 (+33.2%), from €9,958 to €13,264
- Taxes -€610
down €610 (-19.5%), from €3,130 to €2,520
- Financial charges +€165
up €165 (+6.1%), from €2,695 to €2,859
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 | €169,699 | €179,478 | +€9,779 | +5.8% |
| Fixed assets | 21/28 | €122,244 | €135,290 | +€13,046 | +10.7% |
| Tangible fixed assets | 22/27 | €5,080 | €4,126 | -€954 | -18.8% |
| Plant, machinery and equipment | 23 | €1,272 | €820 | -€452 | -35.5% |
| Furniture and vehicles | 24 | €3,808 | €3,306 | -€502 | -13.2% |
| Financial fixed assets | 28 | €117,164 | €131,164 | +€14,000 | +11.9% |
| Current assets | 29/58 | €47,455 | €44,188 | -€3,268 | -6.9% |
| Amounts receivable after more than one year | 29 | €16,910 | €16,910 | = | 0.0% |
| Other amounts receivable | 291 | €16,910 | €16,910 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €11,767 | €15,296 | +€3,530 | +30.0% |
| Trade receivables | 40 | €6,050 | €13,260 | +€7,210 | +119.2% |
| Other amounts receivable | 41 | €5,717 | €2,036 | -€3,680 | -64.4% |
| Cash at bank and in hand | 54/58 | €17,925 | €10,452 | -€7,474 | -41.7% |
| Deferred charges and accrued income | 490/1 | €853 | €1,529 | +€676 | +79.3% |
| Total equity and liabilities | 10/49 | €169,699 | €179,478 | +€9,779 | +5.8% |
| Equity | 10/15 | €96,482 | €102,723 | +€6,240 | +6.5% |
| Contributions | 10/11 | €17,000 | €17,000 | = | 0.0% |
| Reserves | 13 | €29,471 | €29,471 | = | 0.0% |
| Distributable reserves | 133 | €29,471 | €29,471 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,011 | €56,252 | +€6,240 | +12.5% |
| Amounts payable | 17/49 | €73,217 | €76,755 | +€3,538 | +4.8% |
| Amounts payable after more than one year | 17 | €34,516 | €34,576 | +€60 | +0.2% |
| Financial debts | 170/4 | €34,516 | €34,576 | +€60 | +0.2% |
| Amounts payable within one year | 42/48 | €31,358 | €34,109 | +€2,751 | +8.8% |
| Current portion of amounts payable after more than one year | 42 | €11,055 | €13,081 | +€2,026 | +18.3% |
| Financial debts | 43 | €4,182 | - | -€4,182 | |
| Other loans | 439 | €4,182 | - | -€4,182 | |
| Trade debts | 44 | €32 | €4,240 | +€4,208 | +13072.9% |
| Suppliers | 440/4 | €32 | €4,240 | +€4,208 | +13072.9% |
| Taxes, remuneration and social security | 45 | €5,750 | €6,606 | +€856 | +14.9% |
| Taxes | 450/3 | €5,750 | €6,606 | +€856 | +14.9% |
| Other amounts payable | 47/48 | €10,339 | €10,181 | -€158 | -1.5% |
| Accrued charges and deferred income | 492/3 | €7,342 | €8,070 | +€728 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,561 | €1,562 | +€0 | 0.0% |
| Other operating charges | 640/8 | €678 | €763 | +€85 | +12.6% |
| Gross operating margin | 9900 | €9,958 | €13,264 | +€3,307 | +33.2% |
| Operating profit (loss) | 9901 | €7,718 | €10,940 | +€3,221 | +41.7% |
| Financial income | 75/76B | €17,598 | €680 | -€16,918 | -96.1% |
| Recurring financial income | 75 | €17,598 | €680 | -€16,918 | -96.1% |
| Financial charges | 65/66B | €2,695 | €2,859 | +€165 | +6.1% |
| Recurring financial charges | 65 | €2,695 | €2,859 | +€165 | +6.1% |
| Profit (loss) for the period before taxes | 9903 | €22,621 | €8,760 | -€13,861 | -61.3% |
| Income taxes | 67/77 | €3,130 | €2,520 | -€610 | -19.5% |
| Profit (loss) for the period | 9904 | €19,492 | €6,240 | -€13,252 | -68.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,492 | €6,240 | -€13,252 | -68.0% |
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 9 October 2026 via checked.be.