Harmonie: 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.
What changed
Harmonie
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€254,262
2024 · €281,038-€26,776
Equity
€5.7m
2024 · €5.4m+€254,262
Cash
€22,302
2024 · €48,491-€26,190
Balance sheet total
€8.2m
2024 · €8.0m+€200,198
Largest movements
Assets
- Receivables within one year +€296,526
up €296,526 (+6.5%), from €4.6m to €4.9m
of which Other amounts receivable: +€294,718
Equity and liabilities
- Profit (loss) carried forward +€324,100
up €324,100 (+8.2%), from €3.9m to €4.3m
Income statement
- Write-downs +€78,725
new in 2025: €78,725
- Gross operating margin +€50,222
up €50,222 (+8.1%), from €621,034 to €671,256
- Taxes -€15,675
down €15,675 (-11.9%), from €131,428 to €115,752
- Other operating charges +€13,212
up €13,212 (+16.2%), from €81,649 to €94,862
- Depreciation +€8,038
up €8,038 (+3.4%), from €235,455 to €243,493
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.
Result 2024
€281,038
Gross operating margin
+€50,222
Depreciation
-€8,038
Write-downs
-€78,725
Other operating charges
-€13,212
Financial income
+€5,846
Financial charges
+€1,456
Taxes
+€15,675
Result 2025
€254,262
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€146,965
Investment
-€173,155
Financing
€0
Cash 2024
€48,491
From operations (derived)
+€146,965
Net result for the year
+€254,262
Depreciation
+€243,493
Receivables within one year
-€296,526
Deferred charges and accrued income
-€200
Provisions
-€23,279
Trade debts
-€20,949
Tax, wage and social debts
-€15,675
Other debts
+€5,840
Investment (derived)
-€173,155
Investment in fixed assets (net)
-€173,155
Cash 2025
€22,302
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,015,270 | €8,215,468 | +€200,198 | +2.5% |
| Fixed assets | 21/28 | €3,361,551 | €3,291,212 | -€70,338 | -2.1% |
| Tangible fixed assets | 22/27 | €3,359,915 | €3,289,577 | -€70,338 | -2.1% |
| Land and buildings | 22 | €3,359,915 | €3,289,577 | -€70,338 | -2.1% |
| Financial fixed assets | 28 | €1,635 | €1,635 | = | 0.0% |
| Current assets | 29/58 | €4,653,720 | €4,924,256 | +€270,536 | +5.8% |
| Amounts receivable within one year | 40/41 | €4,596,650 | €4,893,176 | +€296,526 | +6.5% |
| Trade receivables | 40 | €108,610 | €110,418 | +€1,808 | +1.7% |
| Other amounts receivable | 41 | €4,488,040 | €4,782,758 | +€294,718 | +6.6% |
| Cash at bank and in hand | 54/58 | €48,491 | €22,302 | -€26,190 | -54.0% |
| Deferred charges and accrued income | 490/1 | €8,578 | €8,779 | +€200 | +2.3% |
| Total equity and liabilities | 10/49 | €8,015,270 | €8,215,468 | +€200,198 | +2.5% |
| Equity | 10/15 | €5,398,122 | €5,652,384 | +€254,262 | +4.7% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €1,399,607 | €1,329,769 | -€69,838 | -5.0% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,393,107 | €1,323,269 | -€69,838 | -5.0% |
| Profit (loss) carried forward | 14 | €3,933,516 | €4,257,615 | +€324,100 | +8.2% |
| Provisions and deferred taxes | 16 | €453,833 | €430,554 | -€23,279 | -5.1% |
| Deferred taxes | 168 | €453,833 | €430,554 | -€23,279 | -5.1% |
| Amounts payable | 17/49 | €2,163,315 | €2,132,530 | -€30,785 | -1.4% |
| Amounts payable within one year | 42/48 | €2,163,315 | €2,132,530 | -€30,785 | -1.4% |
| Trade debts | 44 | €25,676 | €4,727 | -€20,949 | -81.6% |
| Suppliers | 440/4 | €25,676 | €4,727 | -€20,949 | -81.6% |
| Taxes, remuneration and social security | 45 | €131,428 | €115,752 | -€15,675 | -11.9% |
| Taxes | 450/3 | €131,428 | €115,752 | -€15,675 | -11.9% |
| Other amounts payable | 47/48 | €2,006,211 | €2,012,051 | +€5,840 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €235,455 | €243,493 | +€8,038 | +3.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €78,725 | +€78,725 | |
| Other operating charges | 640/8 | €81,649 | €94,862 | +€13,212 | +16.2% |
| Gross operating margin | 9900 | €621,034 | €671,256 | +€50,222 | +8.1% |
| Operating profit (loss) | 9901 | €303,930 | €254,176 | -€49,753 | -16.4% |
| Financial income | 75/76B | €87,064 | €92,910 | +€5,846 | +6.7% |
| Recurring financial income | 75 | €87,064 | €92,910 | +€5,846 | +6.7% |
| Financial charges | 65/66B | €1,807 | €352 | -€1,456 | -80.5% |
| Recurring financial charges | 65 | €1,807 | €352 | -€1,456 | -80.5% |
| Profit (loss) for the period before taxes | 9903 | €389,186 | €346,735 | -€42,452 | -10.9% |
| Transfer from deferred taxes | 780 | €23,279 | €23,279 | = | 0.0% |
| Income taxes | 67/77 | €131,428 | €115,752 | -€15,675 | -11.9% |
| Profit (loss) for the period | 9904 | €281,038 | €254,262 | -€26,776 | -9.5% |
| Transfer from tax-exempt reserves | 789 | €69,838 | €69,838 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €350,876 | €324,100 | -€26,776 | -7.6% |
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 26 October 2026 via checked.be.