HARODAK: 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.
HARODAK
Largest movements
- Receivables within one year +€184,531
up €184,531 (+66.1%), from €279,238 to €463,769
of which Trade receivables: +€179,486
- Profit (loss) carried forward +€90,623
new in 2025: €90,623
- Trade debts +€60,621
up €60,621 (+97.8%), from €61,968 to €122,589
- Tax, wage and social debts +€33,287
up €33,287 (+195%), from €17,095 to €50,381
- Gross operating margin +€112,470
up €112,470 (+894%), from €12,580 to €125,050
- Taxes +€30,773
up €30,773 (+1,224%), from €2,514 to €33,287
- Financial charges -€3,307
no longer reported in 2025 (was €3,307)
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 | €280,598 | €465,129 | +€184,531 | +65.8% |
| Current assets | 29/58 | €280,598 | €465,129 | +€184,531 | +65.8% |
| Amounts receivable within one year | 40/41 | €279,238 | €463,769 | +€184,531 | +66.1% |
| Trade receivables | 40 | €43,141 | €222,627 | +€179,486 | +416% |
| Other amounts receivable | 41 | €236,098 | €241,142 | +€5,045 | +2.1% |
| Cash at bank and in hand | 54/58 | €1,360 | €1,360 | = | 0.0% |
| Total equity and liabilities | 10/49 | €280,598 | €465,129 | +€184,531 | +65.8% |
| Equity | 10/15 | €151,719 | €242,342 | +€90,623 | +59.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €141,719 | €141,719 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €139,859 | €139,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €90,623 | +€90,623 | |
| Amounts payable | 17/49 | €128,880 | €222,788 | +€93,908 | +72.9% |
| Amounts payable within one year | 42/48 | €128,880 | €222,788 | +€93,908 | +72.9% |
| Financial debts | 43 | €12,983 | €12,983 | = | 0.0% |
| Credit institutions | 430/8 | €12,983 | €12,983 | = | 0.0% |
| Trade debts | 44 | €61,968 | €122,589 | +€60,621 | +97.8% |
| Suppliers | 440/4 | €61,968 | €122,589 | +€60,621 | +97.8% |
| Taxes, remuneration and social security | 45 | €17,095 | €50,381 | +€33,287 | +195% |
| Taxes | 450/3 | €17,095 | €50,381 | +€33,287 | +195% |
| Other amounts payable | 47/48 | €36,834 | €36,834 | = | 0.0% |
| Other operating charges | 640/8 | €478 | €1,140 | +€662 | +139% |
| Gross operating margin | 9900 | €12,580 | €125,050 | +€112,470 | +894% |
| Operating profit (loss) | 9901 | €12,102 | €123,910 | +€111,808 | +924% |
| Financial charges | 65/66B | €3,307 | - | -€3,307 | |
| Recurring financial charges | 65 | €3,307 | - | -€3,307 | |
| Profit (loss) for the period before taxes | 9903 | €8,795 | €123,910 | +€115,115 | +1,309% |
| Income taxes | 67/77 | €2,514 | €33,287 | +€30,773 | +1,224% |
| Profit (loss) for the period | 9904 | €6,281 | €90,623 | +€84,342 | +1,343% |
| Profit (loss) for the period to be appropriated | 9905 | €6,281 | €90,623 | +€84,342 | +1,343% |
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.