HARMONY: 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.
HARMONY
Largest movements
- Stocks and contracts -€18,411
no longer reported in 2025 (was €18,411)
- Receivables within one year +€10,621
up €10,621 (+89.1%), from €11,921 to €22,542
- Cash -€5,110
down €5,110 (-51.0%), from €10,013 to €4,903
mainly Net result for the year (-€50,505) and Receivables within one year (-€10,621)
- Tangible fixed assets -€3,143
down €3,143 (-3.7%), from €85,859 to €82,716
of which Land and buildings: -€2,968
- Profit (loss) carried forward -€50,505
down €50,505 (-3.2%), from -€1.6m to -€1.6m
- Provisions +€33,786
new in 2025: €33,786
- Other debts -€2,438
down €2,438 (-0.2%), from €1.5m to €1.5m
- Trade debts +€1,824
up €1,824 (+4.0%), from €45,250 to €47,074
- Tax, wage and social debts +€1,291
up €1,291 (+136.3%), from €947 to €2,237
- Provisions +€33,786
new in 2025: €33,786
- Write-downs +€18,411
new in 2025: €18,411
- Gross operating margin +€8,882
up €8,882 (+60.5%), from €14,691 to €23,573
- Other operating charges -€5,601
down €5,601 (-80.4%), from €6,967 to €1,366
- Depreciation -€1,472
down €1,472 (-32.1%), from €4,592 to €3,120
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 | €126,204 | €110,161 | -€16,043 | -12.7% |
| Fixed assets | 21/28 | €85,859 | €82,716 | -€3,143 | -3.7% |
| Tangible fixed assets | 22/27 | €85,859 | €82,716 | -€3,143 | -3.7% |
| Land and buildings | 22 | €83,285 | €80,316 | -€2,968 | -3.6% |
| Plant, machinery and equipment | 23 | €174 | - | -€174 | |
| Furniture and vehicles | 24 | €2,400 | €2,400 | = | 0.0% |
| Current assets | 29/58 | €40,345 | €27,444 | -€12,900 | -32.0% |
| Stocks and contracts in progress | 3 | €18,411 | - | -€18,411 | |
| Stocks | 30/36 | €18,411 | - | -€18,411 | |
| Amounts receivable within one year | 40/41 | €11,921 | €22,542 | +€10,621 | +89.1% |
| Trade receivables | 40 | €11,921 | €22,542 | +€10,621 | +89.1% |
| Cash at bank and in hand | 54/58 | €10,013 | €4,903 | -€5,110 | -51.0% |
| Total equity and liabilities | 10/49 | €126,204 | €110,161 | -€16,043 | -12.7% |
| Equity | 10/15 | -€1,435,705 | -€1,486,210 | -€50,505 | -3.5% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €1,630 | €1,630 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,630 | €1,630 | = | 0.0% |
| Legal reserve | 130 | €1,630 | €1,630 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,562,335 | -€1,612,840 | -€50,505 | -3.2% |
| Provisions and deferred taxes | 16 | - | €33,786 | +€33,786 | |
| Provisions for liabilities and charges | 160/5 | - | €33,786 | +€33,786 | |
| Other liabilities and charges | 164/5 | - | €33,786 | +€33,786 | |
| Amounts payable | 17/49 | €1,561,909 | €1,562,585 | +€676 | 0.0% |
| Amounts payable within one year | 42/48 | €1,560,141 | €1,560,817 | +€676 | 0.0% |
| Trade debts | 44 | €45,250 | €47,074 | +€1,824 | +4.0% |
| Suppliers | 440/4 | €45,250 | €47,074 | +€1,824 | +4.0% |
| Taxes, remuneration and social security | 45 | €947 | €2,237 | +€1,291 | +136.3% |
| Taxes | 450/3 | €947 | €2,237 | +€1,291 | +136.3% |
| Other amounts payable | 47/48 | €1,513,944 | €1,511,506 | -€2,438 | -0.2% |
| Accrued charges and deferred income | 492/3 | €1,767 | €1,767 | = | 0.0% |
| Non-recurring operating income | 76A | €126 | €2,357 | +€2,232 | +1778.2% |
| Remuneration, social security and pensions | 62 | -€15 | - | +€15 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,592 | €3,120 | -€1,472 | -32.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €18,411 | +€18,411 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €33,786 | +€33,786 | |
| Other operating charges | 640/8 | €6,967 | €1,366 | -€5,601 | -80.4% |
| Non-recurring operating charges | 66A | - | €9,232 | +€9,232 | |
| Gross operating margin | 9900 | €14,691 | €23,573 | +€8,882 | +60.5% |
| Operating profit (loss) | 9901 | €3,146 | -€42,343 | -€45,488 | |
| Financial income | 75/76B | €35 | €0 | -€35 | -99.5% |
| Recurring financial income | 75 | €35 | €0 | -€35 | -99.5% |
| Financial charges | 65/66B | €9,016 | €8,162 | -€854 | -9.5% |
| Recurring financial charges | 65 | €9,016 | €8,162 | -€854 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | -€5,835 | -€50,505 | -€44,670 | -765.5% |
| Profit (loss) for the period | 9904 | -€5,835 | -€50,505 | -€44,670 | -765.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,835 | -€50,505 | -€44,670 | -765.5% |
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 11 October 2026 via checked.be.