HARPACA: 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.
HARPACA
Largest movements
- Cash -€99,136
down €99,136 (-18.0%), from €551,791 to €452,655
mainly Net result for the year (-€119,185) and Tax, wage and social debts (-€14,938)
- Reserves -€90,954
down €90,954 (-66.2%), from €137,455 to €46,501
of which Distributable reserves: -€90,954
- Profit (loss) carried forward -€28,230
new in 2024: -€28,230
- Write-downs -€437,610
down €437,610 (-100.0%), from €437,610 to €0
- Gross operating margin -€85,098
down €85,098 (-627.1%), from -€13,571 to -€98,669
- Financial charges +€3,166
up €3,166 (+52.1%), from €6,076 to €9,242
- Financial income +€3,085
up €3,085, from €0 to €3,085
- Other operating charges -€1,574
down €1,574 (-18.5%), from €8,496 to €6,922
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,505,187 | €1,401,787 | -€103,400 | -6.9% |
| Fixed assets | 21/28 | €907,241 | €899,804 | -€7,437 | -0.8% |
| Tangible fixed assets | 22/27 | €907,241 | €899,804 | -€7,437 | -0.8% |
| Land and buildings | 22 | €486,367 | €478,930 | -€7,437 | -1.5% |
| Other tangible fixed assets | 26 | €420,874 | €420,874 | = | 0.0% |
| Current assets | 29/58 | €597,946 | €501,983 | -€95,963 | -16.0% |
| Amounts receivable within one year | 40/41 | €46,016 | €46,942 | +€925 | +2.0% |
| Trade receivables | 40 | €46,016 | €46,016 | = | 0.0% |
| Other amounts receivable | 41 | €0 | €925 | +€925 | |
| Cash at bank and in hand | 54/58 | €551,791 | €452,655 | -€99,136 | -18.0% |
| Deferred charges and accrued income | 490/1 | €139 | €2,386 | +€2,248 | +1622.6% |
| Total equity and liabilities | 10/49 | €1,505,187 | €1,401,787 | -€103,400 | -6.9% |
| Equity | 10/15 | €1,376,922 | €1,257,738 | -€119,185 | -8.7% |
| Contributions | 10/11 | €1,239,468 | €1,239,468 | = | 0.0% |
| Capital | 10 | €1,239,468 | €1,239,468 | = | 0.0% |
| Issued capital | 100 | €1,239,468 | €1,239,468 | = | 0.0% |
| Reserves | 13 | €137,455 | €46,501 | -€90,954 | -66.2% |
| Non-distributable reserves | 130/1 | €44,871 | €44,871 | = | 0.0% |
| Legal reserve | 130 | €44,871 | €44,871 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,629 | €1,629 | = | 0.0% |
| Distributable reserves | 133 | €90,954 | €0 | -€90,954 | -100.0% |
| Profit (loss) carried forward | 14 | - | -€28,230 | -€28,230 | |
| Amounts payable | 17/49 | €128,264 | €144,049 | +€15,785 | +12.3% |
| Amounts payable within one year | 42/48 | €120,808 | €132,837 | +€12,028 | +10.0% |
| Trade debts | 44 | €36 | €13,278 | +€13,242 | +36520.1% |
| Suppliers | 440/4 | €36 | €13,278 | +€13,242 | +36520.1% |
| Taxes, remuneration and social security | 45 | €14,938 | €0 | -€14,938 | -100.0% |
| Taxes | 450/3 | €14,938 | €0 | -€14,938 | -100.0% |
| Other amounts payable | 47/48 | €105,834 | €119,558 | +€13,724 | +13.0% |
| Accrued charges and deferred income | 492/3 | €7,456 | €11,213 | +€3,756 | +50.4% |
| Non-recurring operating income | 76A | €4,700 | €0 | -€4,700 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,437 | €7,437 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €437,610 | €0 | -€437,610 | -100.0% |
| Other operating charges | 640/8 | €8,496 | €6,922 | -€1,574 | -18.5% |
| Gross operating margin | 9900 | -€13,571 | -€98,669 | -€85,098 | -627.1% |
| Operating profit (loss) | 9901 | -€467,113 | -€113,027 | +€354,086 | +75.8% |
| Financial income | 75/76B | €0 | €3,085 | +€3,085 | |
| Recurring financial income | 75 | €0 | €3,085 | +€3,085 | |
| Financial charges | 65/66B | €6,076 | €9,242 | +€3,166 | +52.1% |
| Recurring financial charges | 65 | €6,076 | €9,242 | +€3,166 | +52.1% |
| Profit (loss) for the period before taxes | 9903 | -€473,190 | -€119,185 | +€354,005 | +74.8% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€473,190 | -€119,185 | +€354,005 | +74.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€473,190 | -€119,185 | +€354,005 | +74.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.