HAROL PROJECTS: 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.
HAROL PROJECTS
Largest movements
- Receivables within one year +€146,288
up €146,288 (+12.6%), from €1.2m to €1.3m
of which Other amounts receivable: +€456,899
- Cash -€136,045
down €136,045 (-44.4%), from €306,511 to €170,466
mainly Receivables within one year (-€146,288) and Tax, wage and social debts (-€41,698)
- Tangible fixed assets -€24,400
down €24,400 (-51.8%), from €47,126 to €22,726
of which Furniture and vehicles: -€22,227
- Tax, wage and social debts -€41,698
down €41,698 (-41.0%), from €101,700 to €60,002
of which Remuneration and social security: -€38,028
- Other debts +€31,349
up €31,349 (+397.5%), from €7,887 to €39,235
- Staff costs -€252,496
down €252,496 (-31.2%), from €808,798 to €556,303
- Turnover -€229,787
down €229,787 (-11.0%), from €2.1m to €1.9m
- Services and other goods -€104,901
down €104,901 (-33.1%), from €316,961 to €212,060
- Goods and materials +€84,293
up €84,293 (+9.1%), from €921,832 to €1.0m
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 | €1,525,354 | €1,511,524 | -€13,830 | -0.9% |
| Fixed assets | 21/28 | €54,161 | €22,726 | -€31,435 | -58.0% |
| Tangible fixed assets | 22/27 | €47,126 | €22,726 | -€24,400 | -51.8% |
| Plant, machinery and equipment | 23 | €5,432 | €3,259 | -€2,173 | -40.0% |
| Furniture and vehicles | 24 | €41,693 | €19,466 | -€22,227 | -53.3% |
| Financial fixed assets | 28 | €7,035 | €0 | -€7,035 | -100.0% |
| Other financial fixed assets | 284/8 | €7,035 | €0 | -€7,035 | -100.0% |
| Amounts receivable and cash guarantees | 285/8 | €7,035 | €0 | -€7,035 | -100.0% |
| Current assets | 29/58 | €1,471,193 | €1,488,798 | +€17,605 | +1.2% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €1,164,682 | €1,310,970 | +€146,288 | +12.6% |
| Trade receivables | 40 | €691,015 | €380,404 | -€310,611 | -44.9% |
| Other amounts receivable | 41 | €473,667 | €930,566 | +€456,899 | +96.5% |
| Cash at bank and in hand | 54/58 | €306,511 | €170,466 | -€136,045 | -44.4% |
| Deferred charges and accrued income | 490/1 | - | €7,362 | +€7,362 | |
| Total equity and liabilities | 10/49 | €1,525,354 | €1,511,524 | -€13,830 | -0.9% |
| Equity | 10/15 | €1,307,410 | €1,315,054 | +€7,644 | +0.6% |
| Contributions | 10/11 | €1,017,039 | €1,017,039 | = | 0.0% |
| Capital | 10 | €1,017,039 | €1,017,039 | = | 0.0% |
| Issued capital | 100 | €1,017,039 | €1,017,039 | = | 0.0% |
| Reserves | 13 | €18,297 | €19,929 | +€1,632 | +8.9% |
| Non-distributable reserves | 130/1 | €18,297 | €19,929 | +€1,632 | +8.9% |
| Legal reserve | 130 | €18,297 | €19,929 | +€1,632 | +8.9% |
| Profit (loss) carried forward | 14 | €272,074 | €278,087 | +€6,012 | +2.2% |
| Amounts payable | 17/49 | €217,944 | €196,469 | -€21,475 | -9.9% |
| Amounts payable within one year | 42/48 | €217,944 | €196,469 | -€21,475 | -9.9% |
| Trade debts | 44 | €108,357 | €97,232 | -€11,125 | -10.3% |
| Suppliers | 440/4 | €108,357 | €97,232 | -€11,125 | -10.3% |
| Taxes, remuneration and social security | 45 | €101,700 | €60,002 | -€41,698 | -41.0% |
| Taxes | 450/3 | €19,889 | €16,219 | -€3,670 | -18.5% |
| Remuneration and social security | 454/9 | €81,811 | €43,783 | -€38,028 | -46.5% |
| Other amounts payable | 47/48 | €7,887 | €39,235 | +€31,349 | +397.5% |
| Operating income | 70/76A | €2,125,994 | €1,893,001 | -€232,992 | -11.0% |
| Turnover | 70 | €2,082,304 | €1,852,517 | -€229,787 | -11.0% |
| Other operating income | 74 | €39,140 | €29,978 | -€9,162 | -23.4% |
| Non-recurring operating income | 76A | €4,550 | €10,507 | +€5,957 | +130.9% |
| Operating charges | 60/66A | €2,093,085 | €1,830,153 | -€262,932 | -12.6% |
| Goods for resale, raw materials and consumables | 60 | €921,832 | €1,006,125 | +€84,293 | +9.1% |
| Purchases | 600/8 | €921,832 | €1,006,125 | +€84,293 | +9.1% |
| Services and other goods | 61 | €316,961 | €212,060 | -€104,901 | -33.1% |
| Remuneration, social security and pensions | 62 | €808,798 | €556,303 | -€252,496 | -31.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,609 | €24,400 | +€791 | +3.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,267 | €0 | -€14,267 | -100.0% |
| Other operating charges | 640/8 | €1,817 | €4,098 | +€2,280 | +125.5% |
| Non-recurring operating charges | 66A | €5,800 | €27,167 | +€21,367 | +368.4% |
| Operating profit (loss) | 9901 | €32,909 | €62,849 | +€29,940 | +91.0% |
| Financial income | 75/76B | €692 | €1 | -€691 | -99.9% |
| Recurring financial income | 75 | €692 | €1 | -€691 | -99.9% |
| Other financial income | 752/9 | €692 | €1 | -€691 | -99.9% |
| Financial charges | 65/66B | €5,599 | €13,186 | +€7,587 | +135.5% |
| Recurring financial charges | 65 | €5,599 | €13,186 | +€7,587 | +135.5% |
| Debt charges | 650 | - | €50 | +€50 | |
| Other financial charges | 652/9 | €5,599 | €13,136 | +€7,537 | +134.6% |
| Profit (loss) for the period before taxes | 9903 | €28,002 | €49,664 | +€21,662 | +77.4% |
| Income taxes | 67/77 | €12,085 | €17,019 | +€4,934 | +40.8% |
| Taxes | 670/3 | €12,085 | €17,019 | +€4,934 | +40.8% |
| Profit (loss) for the period | 9904 | €15,917 | €32,644 | +€16,728 | +105.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,917 | €32,644 | +€16,728 | +105.1% |
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.