HARO: 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.
HARO
Largest movements
- Tangible fixed assets +€51,147
new in 2025: €51,147
of which Furniture and vehicles: +€50,237
- Receivables within one year +€17,234
up €17,234 (+5515.3%), from €312 to €17,547
of which Other amounts receivable: +€10,814
- Cash +€12,960
up €12,960 (+78.6%), from €16,482 to €29,442
mainly Other debts (+€41,771) and Net result for the year (+€33,702)
- Other debts +€41,771
up €41,771 (+145.4%), from €28,732 to €70,502
- Reserves +€23,190
new in 2025: €23,190
- Profit (loss) carried forward +€10,512
no longer reported in 2025 (was -€10,512)
- Tax, wage and social debts +€5,786
new in 2025: €5,786
- Gross operating margin +€29,153
up €29,153 (+208.6%), from €13,978 to €43,131
- Taxes +€5,707
new in 2025: €5,707
- Depreciation +€2,775
up €2,775 (+323.0%), from €859 to €3,634
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 | €20,455 | €101,988 | +€81,533 | +398.6% |
| Fixed assets | 21/28 | €3,660 | €54,198 | +€50,538 | +1380.8% |
| Intangible fixed assets | 21 | €3,660 | €2,752 | -€908 | -24.8% |
| Tangible fixed assets | 22/27 | - | €51,147 | +€51,147 | |
| Plant, machinery and equipment | 23 | - | €910 | +€910 | |
| Furniture and vehicles | 24 | - | €50,237 | +€50,237 | |
| Financial fixed assets | 28 | - | €300 | +€300 | |
| Current assets | 29/58 | €16,795 | €47,790 | +€30,995 | +184.5% |
| Amounts receivable within one year | 40/41 | €312 | €17,547 | +€17,234 | +5515.3% |
| Trade receivables | 40 | - | €6,420 | +€6,420 | |
| Other amounts receivable | 41 | €312 | €11,127 | +€10,814 | +3460.8% |
| Cash at bank and in hand | 54/58 | €16,482 | €29,442 | +€12,960 | +78.6% |
| Deferred charges and accrued income | 490/1 | - | €801 | +€801 | |
| Total equity and liabilities | 10/49 | €20,455 | €101,988 | +€81,533 | +398.6% |
| Equity | 10/15 | -€9,512 | €24,190 | +€33,702 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | - | €23,190 | +€23,190 | |
| Distributable reserves | 133 | - | €23,190 | +€23,190 | |
| Profit (loss) carried forward | 14 | -€10,512 | - | +€10,512 | |
| Amounts payable | 17/49 | €29,967 | €77,798 | +€47,831 | +159.6% |
| Amounts payable within one year | 42/48 | €29,967 | €77,798 | +€47,831 | +159.6% |
| Trade debts | 44 | €1,235 | €1,509 | +€274 | +22.2% |
| Suppliers | 440/4 | €1,235 | €1,509 | +€274 | +22.2% |
| Taxes, remuneration and social security | 45 | - | €5,786 | +€5,786 | |
| Taxes | 450/3 | - | €5,786 | +€5,786 | |
| Other amounts payable | 47/48 | €28,732 | €70,502 | +€41,771 | +145.4% |
| Remuneration, social security and pensions | 62 | €140 | - | -€140 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €859 | €3,634 | +€2,775 | +323.0% |
| Other operating charges | 640/8 | - | €48 | +€48 | |
| Gross operating margin | 9900 | €13,978 | €43,131 | +€29,153 | +208.6% |
| Operating profit (loss) | 9901 | €12,979 | €39,449 | +€26,470 | +203.9% |
| Financial charges | 65/66B | €48 | €40 | -€7 | -15.5% |
| Recurring financial charges | 65 | €48 | €40 | -€7 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €12,931 | €39,409 | +€26,477 | +204.8% |
| Income taxes | 67/77 | - | €5,707 | +€5,707 | |
| Profit (loss) for the period | 9904 | €12,931 | €33,702 | +€20,771 | +160.6% |
| Profit (loss) for the period to be appropriated | 9905 | €12,931 | €33,702 | +€20,771 | +160.6% |
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 30 September 2026 via checked.be.