HARMONY MANAGEMENT: 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.
HARMONY MANAGEMENT
Largest movements
- Receivables within one year +€82,664
up €82,664 (+115.2%), from €71,769 to €154,432
of which Other amounts receivable: +€68,499
- Cash -€60,301
down €60,301 (-41.1%), from €146,822 to €86,521
mainly Receivables within one year (-€82,664) and Debts after one year (-€32,140)
- Profit (loss) carried forward +€49,582
up €49,582 (+23.4%), from €211,631 to €261,213
- Other debts +€34,104
up €34,104 (+41.3%), from €82,665 to €116,768
- Debts after one year -€32,140
down €32,140 (-7.7%), from €415,915 to €383,776
- Tax, wage and social debts -€30,041
down €30,041 (-70.0%), from €42,908 to €12,867
of which Taxes: -€24,984
- Staff costs -€37,110
down €37,110 (-82.2%), from €45,151 to €8,042
- Taxes +€7,267
up €7,267 (+132.0%), from €5,506 to €12,773
- Depreciation +€1,589
up €1,589 (+7.0%), from €22,606 to €24,195
- Financial income +€1,274
new in 2025: €1,274
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 | €789,366 | €812,221 | +€22,855 | +2.9% |
| Fixed assets | 21/28 | €567,369 | €570,259 | +€2,889 | +0.5% |
| Intangible fixed assets | 21 | €2,454 | €4,241 | +€1,787 | +72.8% |
| Tangible fixed assets | 22/27 | €564,915 | €566,017 | +€1,102 | +0.2% |
| Land and buildings | 22 | €490,815 | €478,940 | -€11,875 | -2.4% |
| Plant, machinery and equipment | 23 | €72,642 | €86,231 | +€13,589 | +18.7% |
| Furniture and vehicles | 24 | €1,459 | €847 | -€612 | -42.0% |
| Current assets | 29/58 | €221,996 | €241,962 | +€19,966 | +9.0% |
| Amounts receivable within one year | 40/41 | €71,769 | €154,432 | +€82,664 | +115.2% |
| Trade receivables | 40 | €26,975 | €41,140 | +€14,165 | +52.5% |
| Other amounts receivable | 41 | €44,794 | €113,292 | +€68,499 | +152.9% |
| Cash at bank and in hand | 54/58 | €146,822 | €86,521 | -€60,301 | -41.1% |
| Deferred charges and accrued income | 490/1 | €3,406 | €1,008 | -€2,397 | -70.4% |
| Total equity and liabilities | 10/49 | €789,366 | €812,221 | +€22,855 | +2.9% |
| Equity | 10/15 | €213,831 | €263,413 | +€49,582 | +23.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €200 | €200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €200 | €200 | = | 0.0% |
| Other | 1319 | €200 | €200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €211,631 | €261,213 | +€49,582 | +23.4% |
| Amounts payable | 17/49 | €575,534 | €548,808 | -€26,726 | -4.6% |
| Amounts payable after more than one year | 17 | €415,915 | €383,776 | -€32,140 | -7.7% |
| Financial debts | 170/4 | €415,915 | €383,776 | -€32,140 | -7.7% |
| Amounts payable within one year | 42/48 | €159,619 | €165,032 | +€5,413 | +3.4% |
| Current portion of amounts payable after more than one year | 42 | €31,441 | €32,140 | +€699 | +2.2% |
| Trade debts | 44 | €2,605 | €3,257 | +€652 | +25.0% |
| Suppliers | 440/4 | €2,605 | €3,257 | +€652 | +25.0% |
| Taxes, remuneration and social security | 45 | €42,908 | €12,867 | -€30,041 | -70.0% |
| Taxes | 450/3 | €37,851 | €12,867 | -€24,984 | -66.0% |
| Remuneration and social security | 454/9 | €5,058 | - | -€5,058 | |
| Other amounts payable | 47/48 | €82,665 | €116,768 | +€34,104 | +41.3% |
| Remuneration, social security and pensions | 62 | €45,151 | €8,042 | -€37,110 | -82.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,606 | €24,195 | +€1,589 | +7.0% |
| Other operating charges | 640/8 | €4,136 | €5,005 | +€869 | +21.0% |
| Gross operating margin | 9900 | €108,158 | €108,921 | +€762 | +0.7% |
| Operating profit (loss) | 9901 | €36,265 | €71,679 | +€35,414 | +97.7% |
| Financial income | 75/76B | - | €1,274 | +€1,274 | |
| Recurring financial income | 75 | - | €1,274 | +€1,274 | |
| Financial charges | 65/66B | €11,412 | €10,598 | -€814 | -7.1% |
| Recurring financial charges | 65 | €11,412 | €10,598 | -€814 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €24,853 | €62,355 | +€37,502 | +150.9% |
| Income taxes | 67/77 | €5,506 | €12,773 | +€7,267 | +132.0% |
| Profit (loss) for the period | 9904 | €19,347 | €49,582 | +€30,235 | +156.3% |
| Profit (loss) for the period to be appropriated | 9905 | €19,347 | €49,582 | +€30,235 | +156.3% |
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 3 October 2026 via checked.be.