HARPAGRO: 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.
HARPAGRO
Largest movements
- Tangible fixed assets -€32,003
down €32,003 (-64.2%), from €49,818 to €17,815
of which Furniture and vehicles: -€31,868
- Cash +€10,808
up €10,808 (+442.1%), from €2,444 to €13,252
mainly Depreciation (+€33,211) and Other debts (+€20,538)
- Deferred charges and accrued income +€6,444
up €6,444 (+53.2%), from €12,123 to €18,567
- Stocks and contracts +€2,510
new in 2025: €2,510
- Other debts +€20,538
up €20,538 (+28.1%), from €73,188 to €93,726
- Debts after one year -€18,487
no longer reported in 2025 (was €18,487)
- Profit (loss) carried forward -€17,704
down €17,704 (-35.4%), from -€50,045 to -€67,749
- Current portion of long-term debt -€15,077
down €15,077 (-44.9%), from €33,564 to €18,487
- Trade debts +€12,532
up €12,532 (+282.8%), from €4,432 to €16,964
- Turnover +€38,499
up €38,499 (+15.0%), from €257,090 to €295,589
- Gross operating margin +€22,335
up €22,335 (+35.0%), from €63,737 to €86,072
- Purchases and services +€17,803
up €17,803 (+8.5%), from €210,678 to €228,481
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 | €114,845 | €101,959 | -€12,887 | -11.2% |
| Fixed assets | 21/28 | €49,818 | €17,815 | -€32,003 | -64.2% |
| Tangible fixed assets | 22/27 | €49,818 | €17,815 | -€32,003 | -64.2% |
| Plant, machinery and equipment | 23 | €140 | €5 | -€135 | -96.6% |
| Furniture and vehicles | 24 | €49,678 | €17,810 | -€31,868 | -64.1% |
| Current assets | 29/58 | €65,028 | €84,144 | +€19,116 | +29.4% |
| Stocks and contracts in progress | 3 | - | €2,510 | +€2,510 | |
| Stocks | 30/36 | - | €2,510 | +€2,510 | |
| Amounts receivable within one year | 40/41 | €50,460 | €49,815 | -€645 | -1.3% |
| Trade receivables | 40 | €49,669 | €47,624 | -€2,045 | -4.1% |
| Other amounts receivable | 41 | €791 | €2,191 | +€1,400 | +176.9% |
| Cash at bank and in hand | 54/58 | €2,444 | €13,252 | +€10,808 | +442.1% |
| Deferred charges and accrued income | 490/1 | €12,123 | €18,567 | +€6,444 | +53.2% |
| Total equity and liabilities | 10/49 | €114,845 | €101,959 | -€12,887 | -11.2% |
| Equity | 10/15 | -€25,955 | -€43,659 | -€17,704 | -68.2% |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Reserves | 13 | €90 | €90 | = | 0.0% |
| Non-distributable reserves | 130/1 | €90 | €90 | = | 0.0% |
| Reserves not available under the articles | 1311 | €90 | €90 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,045 | -€67,749 | -€17,704 | -35.4% |
| Amounts payable | 17/49 | €140,800 | €145,618 | +€4,817 | +3.4% |
| Amounts payable after more than one year | 17 | €18,487 | - | -€18,487 | |
| Financial debts | 170/4 | €18,487 | - | -€18,487 | |
| Amounts payable within one year | 42/48 | €122,312 | €145,618 | +€23,306 | +19.1% |
| Current portion of amounts payable after more than one year | 42 | €33,564 | €18,487 | -€15,077 | -44.9% |
| Trade debts | 44 | €4,432 | €16,964 | +€12,532 | +282.8% |
| Suppliers | 440/4 | €4,432 | €16,964 | +€12,532 | +282.8% |
| Taxes, remuneration and social security | 45 | €11,128 | €16,441 | +€5,313 | +47.7% |
| Taxes | 450/3 | €6,150 | €11,608 | +€5,457 | +88.7% |
| Remuneration and social security | 454/9 | €4,978 | €4,833 | -€145 | -2.9% |
| Other amounts payable | 47/48 | €73,188 | €93,726 | +€20,538 | +28.1% |
| Accrued charges and deferred income | 492/3 | €1 | - | -€1 | |
| Turnover | 70 | €257,090 | €295,589 | +€38,499 | +15.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €210,678 | €228,481 | +€17,803 | +8.5% |
| Remuneration, social security and pensions | 62 | €53,416 | €53,344 | -€72 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,964 | €33,211 | +€246 | +0.7% |
| Other operating charges | 640/8 | €15,810 | €15,448 | -€361 | -2.3% |
| Gross operating margin | 9900 | €63,737 | €86,072 | +€22,335 | +35.0% |
| Operating profit (loss) | 9901 | -€38,453 | -€15,931 | +€22,522 | +58.6% |
| Financial income | 75/76B | €1 | €0 | -€1 | -98.9% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -98.9% |
| Financial charges | 65/66B | €1,447 | €1,773 | +€326 | +22.5% |
| Recurring financial charges | 65 | €1,447 | €1,773 | +€326 | +22.5% |
| Profit (loss) for the period before taxes | 9903 | -€39,899 | -€17,704 | +€22,195 | +55.6% |
| Profit (loss) for the period | 9904 | -€39,899 | -€17,704 | +€22,195 | +55.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,899 | -€17,704 | +€22,195 | +55.6% |
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 11 October 2026 via checked.be.