HARMONICS: 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.
HARMONICS
Largest movements
- Receivables within one year +€9,848
up €9,848 (+23.8%), from €41,409 to €51,257
of which Trade receivables: +€5,423
- Cash +€6,547
up €6,547 (+53.8%), from €12,180 to €18,727
mainly Net result for the year (+€43,901) and Tax, wage and social debts (+€6,713)
- Tangible fixed assets -€2,500
down €2,500 (-35.1%), from €7,113 to €4,613
of which Furniture and vehicles: -€1,307
- Tax, wage and social debts +€6,713
up €6,713 (+52.6%), from €12,759 to €19,473
- Other debts +€6,000
up €6,000 (+46.7%), from €12,859 to €18,859
- Reserves +€4,567
up €4,567 (+8.1%), from €56,365 to €60,932
- Debts after one year -€1,622
no longer reported in 2025 (was €1,622)
- Current portion of long-term debt -€1,226
no longer reported in 2025 (was €1,226)
- Gross operating margin +€20,027
up €20,027 (+55.7%), from €35,971 to €55,998
- Taxes +€4,379
up €4,379 (+65.4%), from €6,697 to €11,076
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 | €94,818 | €108,970 | +€14,152 | +14.9% |
| Fixed assets | 21/28 | €7,113 | €4,613 | -€2,500 | -35.1% |
| Tangible fixed assets | 22/27 | €7,113 | €4,613 | -€2,500 | -35.1% |
| Plant, machinery and equipment | 23 | €2,934 | €2,009 | -€925 | -31.5% |
| Furniture and vehicles | 24 | €2,840 | €1,533 | -€1,307 | -46.0% |
| Other tangible fixed assets | 26 | €1,339 | €1,071 | -€268 | -20.0% |
| Current assets | 29/58 | €87,704 | €104,357 | +€16,652 | +19.0% |
| Amounts receivable after more than one year | 29 | €32,250 | €32,250 | = | 0.0% |
| Other amounts receivable | 291 | €32,250 | €32,250 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €41,409 | €51,257 | +€9,848 | +23.8% |
| Trade receivables | 40 | €7,986 | €13,409 | +€5,423 | +67.9% |
| Other amounts receivable | 41 | €33,423 | €37,848 | +€4,425 | +13.2% |
| Cash at bank and in hand | 54/58 | €12,180 | €18,727 | +€6,547 | +53.8% |
| Deferred charges and accrued income | 490/1 | €1,866 | €2,123 | +€257 | +13.8% |
| Total equity and liabilities | 10/49 | €94,818 | €108,970 | +€14,152 | +14.9% |
| Equity | 10/15 | €62,565 | €67,132 | +€4,567 | +7.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €56,365 | €60,932 | +€4,567 | +8.1% |
| Distributable reserves | 133 | €56,365 | €60,932 | +€4,567 | +8.1% |
| Amounts payable | 17/49 | €32,252 | €41,837 | +€9,585 | +29.7% |
| Amounts payable after more than one year | 17 | €1,622 | - | -€1,622 | |
| Financial debts | 170/4 | €1,622 | - | -€1,622 | |
| Amounts payable within one year | 42/48 | €28,490 | €40,038 | +€11,547 | +40.5% |
| Current portion of amounts payable after more than one year | 42 | €1,226 | - | -€1,226 | |
| Trade debts | 44 | €1,647 | €1,706 | +€59 | +3.6% |
| Suppliers | 440/4 | €1,647 | €1,706 | +€59 | +3.6% |
| Taxes, remuneration and social security | 45 | €12,759 | €19,473 | +€6,713 | +52.6% |
| Taxes | 450/3 | €12,759 | €19,473 | +€6,713 | +52.6% |
| Other amounts payable | 47/48 | €12,859 | €18,859 | +€6,000 | +46.7% |
| Accrued charges and deferred income | 492/3 | €2,140 | €1,800 | -€340 | -15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,242 | €2,500 | +€258 | +11.5% |
| Other operating charges | 640/8 | €914 | €893 | -€21 | -2.3% |
| Gross operating margin | 9900 | €35,971 | €55,998 | +€20,027 | +55.7% |
| Operating profit (loss) | 9901 | €32,815 | €52,604 | +€19,790 | +60.3% |
| Financial income | 75/76B | €2,505 | €2,740 | +€236 | +9.4% |
| Recurring financial income | 75 | €2,505 | €2,740 | +€236 | +9.4% |
| Financial charges | 65/66B | €438 | €367 | -€71 | -16.1% |
| Recurring financial charges | 65 | €438 | €367 | -€71 | -16.1% |
| Profit (loss) for the period before taxes | 9903 | €34,881 | €54,977 | +€20,096 | +57.6% |
| Income taxes | 67/77 | €6,697 | €11,076 | +€4,379 | +65.4% |
| Profit (loss) for the period | 9904 | €28,184 | €43,901 | +€15,717 | +55.8% |
| Profit (loss) for the period to be appropriated | 9905 | €28,184 | €43,901 | +€15,717 | +55.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.