HARPOON: 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.
HARPOON
Largest movements
- Cash -€8,608
down €8,608 (-30.6%), from €28,169 to €19,561
mainly Net result for the year (-€32,042) and Trade debts (-€5,979)
- Tangible fixed assets -€7,480
down €7,480 (-27.0%), from €27,676 to €20,195
of which Furniture and vehicles: -€7,518
- Receivables within one year -€5,208
down €5,208 (-24.9%), from €20,890 to €15,682
of which Trade receivables: -€3,947
- Stocks and contracts -€3,105
down €3,105 (-62.0%), from €5,010 to €1,905
- Current investments -€1,682
down €1,682 (-2.0%), from €82,196 to €80,514
- Profit (loss) carried forward -€32,042
down €32,042 (-40.6%), from -€78,868 to -€110,910
- Other debts +€10,914
up €10,914 (+11.0%), from €98,948 to €109,862
- Trade debts -€5,979
down €5,979 (-74.4%), from €8,033 to €2,055
- Gross operating margin +€14,735
up €14,735 (+46.9%), from -€31,403 to -€16,668
- Financial income -€2,647
down €2,647 (-63.0%), from €4,204 to €1,556
- Financial charges -€2,412
down €2,412 (-47.9%), from €5,037 to €2,625
- Depreciation +€1,533
up €1,533 (+13.9%), from €11,042 to €12,574
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 | €165,785 | €139,667 | -€26,118 | -15.8% |
| Fixed assets | 21/28 | €27,676 | €20,195 | -€7,480 | -27.0% |
| Tangible fixed assets | 22/27 | €27,676 | €20,195 | -€7,480 | -27.0% |
| Land and buildings | 22 | €2,866 | €1,670 | -€1,197 | -41.7% |
| Furniture and vehicles | 24 | €10,774 | €3,256 | -€7,518 | -69.8% |
| Other tangible fixed assets | 26 | €14,035 | €15,270 | +€1,234 | +8.8% |
| Current assets | 29/58 | €138,109 | €119,472 | -€18,637 | -13.5% |
| Stocks and contracts in progress | 3 | €5,010 | €1,905 | -€3,105 | -62.0% |
| Stocks | 30/36 | €5,010 | €1,905 | -€3,105 | -62.0% |
| Amounts receivable within one year | 40/41 | €20,890 | €15,682 | -€5,208 | -24.9% |
| Trade receivables | 40 | €19,475 | €15,528 | -€3,947 | -20.3% |
| Other amounts receivable | 41 | €1,414 | €154 | -€1,261 | -89.1% |
| Current investments | 50/53 | €82,196 | €80,514 | -€1,682 | -2.0% |
| Cash at bank and in hand | 54/58 | €28,169 | €19,561 | -€8,608 | -30.6% |
| Deferred charges and accrued income | 490/1 | €1,844 | €1,810 | -€34 | -1.8% |
| Total equity and liabilities | 10/49 | €165,785 | €139,667 | -€26,118 | -15.8% |
| Equity | 10/15 | €58,297 | €26,254 | -€32,042 | -55.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €130,964 | €130,964 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €130,964 | €130,964 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€78,868 | -€110,910 | -€32,042 | -40.6% |
| Amounts payable | 17/49 | €107,488 | €113,413 | +€5,925 | +5.5% |
| Amounts payable within one year | 42/48 | €107,084 | €112,953 | +€5,869 | +5.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €8,033 | €2,055 | -€5,979 | -74.4% |
| Suppliers | 440/4 | €8,033 | €2,055 | -€5,979 | -74.4% |
| Taxes, remuneration and social security | 45 | €103 | €1,036 | +€934 | +910.9% |
| Taxes | 450/3 | €103 | €1,036 | +€934 | +910.9% |
| Other amounts payable | 47/48 | €98,948 | €109,862 | +€10,914 | +11.0% |
| Accrued charges and deferred income | 492/3 | €405 | €460 | +€55 | +13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,042 | €12,574 | +€1,533 | +13.9% |
| Other operating charges | 640/8 | €1,695 | €1,484 | -€211 | -12.4% |
| Gross operating margin | 9900 | -€31,403 | -€16,668 | +€14,735 | +46.9% |
| Operating profit (loss) | 9901 | -€44,139 | -€30,726 | +€13,413 | +30.4% |
| Financial income | 75/76B | €4,204 | €1,556 | -€2,647 | -63.0% |
| Recurring financial income | 75 | €4,204 | €1,556 | -€2,647 | -63.0% |
| Financial charges | 65/66B | €5,037 | €2,625 | -€2,412 | -47.9% |
| Recurring financial charges | 65 | €5,037 | €2,625 | -€2,412 | -47.9% |
| Profit (loss) for the period before taxes | 9903 | -€44,972 | -€31,795 | +€13,178 | +29.3% |
| Income taxes | 67/77 | €223 | €248 | +€25 | +11.2% |
| Profit (loss) for the period | 9904 | -€45,195 | -€32,042 | +€13,153 | +29.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,195 | -€32,042 | +€13,153 | +29.1% |
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 10 October 2026 via checked.be.