Harmony & Co: 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 & Co
Largest movements
- Receivables within one year +€60,723
up €60,723 (+81.5%), from €74,480 to €135,203
of which Trade receivables: +€50,852
- Stocks and contracts +€34,782
new in 2025: €34,782
- Tangible fixed assets +€31,767
up €31,767 (+221.8%), from €14,324 to €46,091
- Cash -€29,720
down €29,720 (-41.3%), from €71,981 to €42,261
mainly Receivables within one year (-€60,723) and Investment in fixed assets (net) (-€46,820)
- Deferred charges and accrued income +€3,414
up €3,414 (+110.2%), from €3,098 to €6,512
- Trade debts +€57,379
up €57,379 (+150.2%), from €38,210 to €95,589
- Other debts +€35,521
up €35,521 (+164.4%), from €21,608 to €57,130
- Debts after one year +€25,799
up €25,799 (+235.8%), from €10,939 to €36,739
- Profit (loss) carried forward -€14,827
down €14,827 (-29.4%), from €50,440 to €35,613
- Advances received -€13,268
no longer reported in 2025 (was €13,268)
- Staff costs +€50,007
up €50,007 (+363.5%), from €13,755 to €63,762
- Gross operating margin +€40,451
up €40,451 (+93.7%), from €43,176 to €83,626
- Depreciation +€5,029
up €5,029 (+50.2%), from €10,023 to €15,053
- Taxes -€2,168
down €2,168 (-18.9%), from €11,448 to €9,280
- Financial charges +€1,907
up €1,907 (+71.5%), from €2,668 to €4,574
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 | €164,813 | €265,779 | +€100,967 | +61.3% |
| Fixed assets | 21/28 | €15,254 | €47,021 | +€31,767 | +208.3% |
| Tangible fixed assets | 22/27 | €14,324 | €46,091 | +€31,767 | +221.8% |
| Furniture and vehicles | 24 | €14,324 | €46,091 | +€31,767 | +221.8% |
| Financial fixed assets | 28 | €930 | €930 | = | 0.0% |
| Current assets | 29/58 | €149,559 | €218,758 | +€69,199 | +46.3% |
| Stocks and contracts in progress | 3 | - | €34,782 | +€34,782 | |
| Stocks | 30/36 | - | €34,782 | +€34,782 | |
| Amounts receivable within one year | 40/41 | €74,480 | €135,203 | +€60,723 | +81.5% |
| Trade receivables | 40 | €47,094 | €97,946 | +€50,852 | +108.0% |
| Other amounts receivable | 41 | €27,387 | €37,257 | +€9,870 | +36.0% |
| Cash at bank and in hand | 54/58 | €71,981 | €42,261 | -€29,720 | -41.3% |
| Deferred charges and accrued income | 490/1 | €3,098 | €6,512 | +€3,414 | +110.2% |
| Total equity and liabilities | 10/49 | €164,813 | €265,779 | +€100,967 | +61.3% |
| Equity | 10/15 | €53,190 | €38,363 | -€14,827 | -27.9% |
| Contributions | 10/11 | €2,750 | €2,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,440 | €35,613 | -€14,827 | -29.4% |
| Amounts payable | 17/49 | €111,622 | €227,416 | +€115,794 | +103.7% |
| Amounts payable after more than one year | 17 | €10,939 | €36,739 | +€25,799 | +235.8% |
| Financial debts | 170/4 | €10,939 | €36,739 | +€25,799 | +235.8% |
| Amounts payable within one year | 42/48 | €100,683 | €190,678 | +€89,995 | +89.4% |
| Current portion of amounts payable after more than one year | 42 | €2,254 | €10,173 | +€7,919 | +351.3% |
| Trade debts | 44 | €38,210 | €95,589 | +€57,379 | +150.2% |
| Suppliers | 440/4 | €38,210 | €95,589 | +€57,379 | +150.2% |
| Advances received on contracts in progress | 46 | €13,268 | - | -€13,268 | |
| Taxes, remuneration and social security | 45 | €25,342 | €27,786 | +€2,444 | +9.6% |
| Taxes | 450/3 | €25,150 | €20,727 | -€4,422 | -17.6% |
| Remuneration and social security | 454/9 | €193 | €7,059 | +€6,866 | +3561.7% |
| Other amounts payable | 47/48 | €21,608 | €57,130 | +€35,521 | +164.4% |
| Non-recurring operating income | 76A | €1,047 | €979 | -€68 | -6.5% |
| Remuneration, social security and pensions | 62 | €13,755 | €63,762 | +€50,007 | +363.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,023 | €15,053 | +€5,029 | +50.2% |
| Other operating charges | 640/8 | €1,590 | €2,856 | +€1,266 | +79.6% |
| Non-recurring operating charges | 66A | €2,103 | €2,934 | +€831 | +39.5% |
| Gross operating margin | 9900 | €43,176 | €83,626 | +€40,451 | +93.7% |
| Operating profit (loss) | 9901 | €15,704 | -€979 | -€16,683 | |
| Financial income | 75/76B | €33 | €6 | -€27 | -83.1% |
| Recurring financial income | 75 | €33 | €6 | -€27 | -83.1% |
| Financial charges | 65/66B | €2,668 | €4,574 | +€1,907 | +71.5% |
| Recurring financial charges | 65 | €2,668 | €4,574 | +€1,907 | +71.5% |
| Profit (loss) for the period before taxes | 9903 | €13,069 | -€5,548 | -€18,617 | |
| Income taxes | 67/77 | €11,448 | €9,280 | -€2,168 | -18.9% |
| Profit (loss) for the period | 9904 | €1,622 | -€14,827 | -€16,449 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,622 | -€14,827 | -€16,449 |
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.