HARMSEN: 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.
HARMSEN
Largest movements
- Cash -€92,517
down €92,517 (-6.7%), from €1.4m to €1.3m
mainly Other debts (-€416,484) and Receivables within one year (-€82,222)
- Receivables within one year +€82,222
up €82,222 (+20.4%), from €403,476 to €485,698
of which Trade receivables: +€76,186
- Tangible fixed assets -€57,952
down €57,952 (-54.9%), from €105,467 to €47,514
of which Furniture and vehicles: -€53,075
- Current investments -€47,361
down €47,361 (-19.3%), from €245,155 to €197,794
- Other debts -€416,484
down €416,484 (-99.9%), from €417,045 to €560
- Profit (loss) carried forward +€324,683
up €324,683 (+62.0%), from €523,488 to €848,171
- Trade debts -€31,937
down €31,937 (-10.9%), from €292,470 to €260,533
- Gross operating margin -€31,864
down €31,864 (-5.0%), from €636,760 to €604,896
- Staff costs +€18,435
up €18,435 (+13.5%), from €136,136 to €154,571
- Depreciation -€13,302
down €13,302 (-49.1%), from €27,074 to €13,771
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,203,520 | €2,073,457 | -€130,064 | -5.9% |
| Fixed assets | 21/28 | €109,017 | €51,064 | -€57,952 | -53.2% |
| Tangible fixed assets | 22/27 | €105,467 | €47,514 | -€57,952 | -54.9% |
| Furniture and vehicles | 24 | €83,000 | €29,925 | -€53,075 | -63.9% |
| Other tangible fixed assets | 26 | €22,467 | €17,590 | -€4,877 | -21.7% |
| Financial fixed assets | 28 | €3,550 | €3,550 | = | 0.0% |
| Current assets | 29/58 | €2,094,504 | €2,022,392 | -€72,111 | -3.4% |
| Stocks and contracts in progress | 3 | €74,804 | €56,214 | -€18,590 | -24.9% |
| Stocks | 30/36 | €74,804 | €56,214 | -€18,590 | -24.9% |
| Amounts receivable within one year | 40/41 | €403,476 | €485,698 | +€82,222 | +20.4% |
| Trade receivables | 40 | €392,212 | €468,398 | +€76,186 | +19.4% |
| Other amounts receivable | 41 | €11,264 | €17,300 | +€6,036 | +53.6% |
| Current investments | 50/53 | €245,155 | €197,794 | -€47,361 | -19.3% |
| Cash at bank and in hand | 54/58 | €1,370,679 | €1,278,163 | -€92,517 | -6.7% |
| Deferred charges and accrued income | 490/1 | €389 | €4,524 | +€4,135 | +1,063% |
| Total equity and liabilities | 10/49 | €2,203,520 | €2,073,457 | -€130,064 | -5.9% |
| Equity | 10/15 | €1,419,208 | €1,743,891 | +€324,683 | +22.9% |
| Contributions | 10/11 | €814,291 | €814,291 | = | 0.0% |
| Reserves | 13 | €81,429 | €81,429 | = | 0.0% |
| Distributable reserves | 133 | €81,429 | €81,429 | = | 0.0% |
| Profit (loss) carried forward | 14 | €523,488 | €848,171 | +€324,683 | +62.0% |
| Amounts payable | 17/49 | €784,313 | €329,566 | -€454,747 | -58.0% |
| Amounts payable within one year | 42/48 | €784,313 | €329,566 | -€454,747 | -58.0% |
| Trade debts | 44 | €292,470 | €260,533 | -€31,937 | -10.9% |
| Suppliers | 440/4 | €292,470 | €260,533 | -€31,937 | -10.9% |
| Taxes, remuneration and social security | 45 | €74,798 | €68,473 | -€6,325 | -8.5% |
| Taxes | 450/3 | €53,656 | €47,405 | -€6,251 | -11.6% |
| Remuneration and social security | 454/9 | €21,142 | €21,068 | -€75 | -0.4% |
| Other amounts payable | 47/48 | €417,045 | €560 | -€416,484 | -99.9% |
| Non-recurring operating income | 76A | €11,403 | €275 | -€11,128 | -97.6% |
| Remuneration, social security and pensions | 62 | €136,136 | €154,571 | +€18,435 | +13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,074 | €13,771 | -€13,302 | -49.1% |
| Other operating charges | 640/8 | €2,032 | €1,721 | -€312 | -15.3% |
| Non-recurring operating charges | 66A | - | €8,438 | +€8,438 | |
| Gross operating margin | 9900 | €636,760 | €604,896 | -€31,864 | -5.0% |
| Operating profit (loss) | 9901 | €471,518 | €426,395 | -€45,123 | -9.6% |
| Financial income | 75/76B | €6,170 | €6,300 | +€130 | +2.1% |
| Recurring financial income | 75 | €6,170 | €6,300 | +€130 | +2.1% |
| Financial charges | 65/66B | -€4,216 | -€1,482 | +€2,734 | +64.8% |
| Recurring financial charges | 65 | -€4,216 | -€1,482 | +€2,734 | +64.8% |
| Profit (loss) for the period before taxes | 9903 | €481,904 | €434,178 | -€47,726 | -9.9% |
| Income taxes | 67/77 | €115,671 | €109,495 | -€6,176 | -5.3% |
| Profit (loss) for the period | 9904 | €366,233 | €324,683 | -€41,550 | -11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €366,233 | €324,683 | -€41,550 | -11.3% |
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 16 October 2026 via checked.be.