HARMONIE PROJECTS: 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.
HARMONIE PROJECTS
Largest movements
- Stocks and contracts -€344,723
down €344,723 (-38.1%), from €905,811 to €561,088
- Cash +€12,780
up €12,780 (+6.3%), from €202,242 to €215,022
mainly Stocks and contracts (+€344,723) and Trade debts (+€51,420)
- Advances received -€331,217
down €331,217 (-62.1%), from €533,485 to €202,268
- Tax, wage and social debts -€82,076
down €82,076 (-75.0%), from €109,385 to €27,309
- Trade debts +€51,420
up €51,420 (+7863.3%), from €654 to €52,074
- Other debts +€25,911
up €25,911 (+8.2%), from €315,747 to €341,657
- Gross operating margin -€12,698
down €12,698 (-46.8%), from €27,139 to €14,441
- Financial charges -€8,017
down €8,017 (-37.8%), from €21,216 to €13,199
- Taxes -€6,028
down €6,028 (-85.0%), from €7,091 to €1,063
- Financial income -€490
down €490 (-12.2%), from €4,019 to €3,528
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 | €1,127,639 | €791,422 | -€336,218 | -29.8% |
| Fixed assets | 21/28 | €10,020 | €7,511 | -€2,509 | -25.0% |
| Tangible fixed assets | 22/27 | €10,020 | €7,511 | -€2,509 | -25.0% |
| Furniture and vehicles | 24 | €7,177 | €5,041 | -€2,136 | -29.8% |
| Other tangible fixed assets | 26 | €2,843 | €2,470 | -€373 | -13.1% |
| Current assets | 29/58 | €1,117,620 | €783,911 | -€333,709 | -29.9% |
| Stocks and contracts in progress | 3 | €905,811 | €561,088 | -€344,723 | -38.1% |
| Stocks | 30/36 | €905,811 | €561,088 | -€344,723 | -38.1% |
| Amounts receivable within one year | 40/41 | €8,494 | €4,937 | -€3,557 | -41.9% |
| Trade receivables | 40 | €2,518 | €0 | -€2,518 | -100.0% |
| Other amounts receivable | 41 | €5,976 | €4,937 | -€1,039 | -17.4% |
| Cash at bank and in hand | 54/58 | €202,242 | €215,022 | +€12,780 | +6.3% |
| Deferred charges and accrued income | 490/1 | €1,072 | €2,864 | +€1,791 | +167.1% |
| Total equity and liabilities | 10/49 | €1,127,639 | €791,422 | -€336,218 | -29.8% |
| Equity | 10/15 | €160,290 | €160,334 | +€44 | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €156,252 | €156,252 | = | 0.0% |
| Distributable reserves | 133 | €156,252 | €156,252 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€962 | -€918 | +€44 | +4.6% |
| Amounts payable | 17/49 | €967,350 | €631,088 | -€336,262 | -34.8% |
| Amounts payable within one year | 42/48 | €959,270 | €623,308 | -€335,962 | -35.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €654 | €52,074 | +€51,420 | +7863.3% |
| Suppliers | 440/4 | €654 | €52,074 | +€51,420 | +7863.3% |
| Advances received on contracts in progress | 46 | €533,485 | €202,268 | -€331,217 | -62.1% |
| Taxes, remuneration and social security | 45 | €109,385 | €27,309 | -€82,076 | -75.0% |
| Taxes | 450/3 | €109,385 | €27,309 | -€82,076 | -75.0% |
| Other amounts payable | 47/48 | €315,747 | €341,657 | +€25,911 | +8.2% |
| Accrued charges and deferred income | 492/3 | €8,080 | €7,780 | -€300 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,769 | €2,509 | -€260 | -9.4% |
| Other operating charges | 640/8 | €1,044 | €1,155 | +€111 | +10.6% |
| Gross operating margin | 9900 | €27,139 | €14,441 | -€12,698 | -46.8% |
| Operating profit (loss) | 9901 | €23,326 | €10,777 | -€12,549 | -53.8% |
| Financial income | 75/76B | €4,019 | €3,528 | -€490 | -12.2% |
| Recurring financial income | 75 | €4,019 | €3,528 | -€490 | -12.2% |
| Financial charges | 65/66B | €21,216 | €13,199 | -€8,017 | -37.8% |
| Recurring financial charges | 65 | €21,216 | €13,199 | -€8,017 | -37.8% |
| Profit (loss) for the period before taxes | 9903 | €6,129 | €1,107 | -€5,022 | -81.9% |
| Income taxes | 67/77 | €7,091 | €1,063 | -€6,028 | -85.0% |
| Profit (loss) for the period | 9904 | -€962 | €44 | +€1,006 | |
| Profit (loss) for the period to be appropriated | 9905 | -€962 | €44 | +€1,006 |
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 8 October 2026 via checked.be.