HARRY FLASHMAN: 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.
HARRY FLASHMAN
Largest movements
- Receivables within one year +€24,504
up €24,504 (+206.6%), from €11,861 to €36,365
of which Other amounts receivable: +€25,350
- Tangible fixed assets -€8,115
down €8,115 (-46.2%), from €17,558 to €9,443
of which Leasing and similar rights: -€6,516
- Cash -€3,199
down €3,199 (-33.4%), from €9,570 to €6,371
mainly Receivables within one year (-€24,504) and Current portion of long-term debt (-€8,596)
- Profit (loss) carried forward +€22,664
up €22,664, from -€215 to €22,449
- Current portion of long-term debt -€8,596
down €8,596 (-82.9%), from €10,369 to €1,773
- Tax, wage and social debts +€5,390
up €5,390 (+34.2%), from €15,745 to €21,135
of which Taxes: +€10,090
- Trade debts -€4,484
down €4,484 (-51.0%), from €8,797 to €4,313
- Debts after one year -€1,776
no longer reported in 2025 (was €1,776)
- Gross operating margin +€28,393
up €28,393 (+94.2%), from €30,149 to €58,542
- Other operating charges -€6,042
down €6,042 (-30.6%), from €19,758 to €13,716
- Taxes +€5,854
up €5,854 (+182.4%), from €3,210 to €9,064
- Depreciation -€986
down €986 (-7.3%), from €13,518 to €12,532
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 | €39,772 | €52,970 | +€13,198 | +33.2% |
| Fixed assets | 21/28 | €17,558 | €9,443 | -€8,115 | -46.2% |
| Tangible fixed assets | 22/27 | €17,558 | €9,443 | -€8,115 | -46.2% |
| Furniture and vehicles | 24 | €11,042 | €9,443 | -€1,599 | -14.5% |
| Leasing and similar rights | 25 | €6,516 | - | -€6,516 | |
| Current assets | 29/58 | €22,214 | €43,527 | +€21,313 | +95.9% |
| Amounts receivable within one year | 40/41 | €11,861 | €36,365 | +€24,504 | +206.6% |
| Trade receivables | 40 | €1,451 | €605 | -€846 | -58.3% |
| Other amounts receivable | 41 | €10,410 | €35,760 | +€25,350 | +243.5% |
| Cash at bank and in hand | 54/58 | €9,570 | €6,371 | -€3,199 | -33.4% |
| Deferred charges and accrued income | 490/1 | €783 | €791 | +€8 | +1.0% |
| Total equity and liabilities | 10/49 | €39,772 | €52,970 | +€13,198 | +33.2% |
| Equity | 10/15 | €3,085 | €25,749 | +€22,664 | +734.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €300 | €300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €300 | €300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €300 | €300 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€215 | €22,449 | +€22,664 | |
| Amounts payable | 17/49 | €36,687 | €27,221 | -€9,466 | -25.8% |
| Amounts payable after more than one year | 17 | €1,776 | - | -€1,776 | |
| Financial debts | 170/4 | €1,776 | - | -€1,776 | |
| Amounts payable within one year | 42/48 | €34,911 | €27,221 | -€7,690 | -22.0% |
| Current portion of amounts payable after more than one year | 42 | €10,369 | €1,773 | -€8,596 | -82.9% |
| Trade debts | 44 | €8,797 | €4,313 | -€4,484 | -51.0% |
| Suppliers | 440/4 | €8,797 | €4,313 | -€4,484 | -51.0% |
| Taxes, remuneration and social security | 45 | €15,745 | €21,135 | +€5,390 | +34.2% |
| Taxes | 450/3 | €8,695 | €18,785 | +€10,090 | +116.0% |
| Remuneration and social security | 454/9 | €7,050 | €2,350 | -€4,700 | -66.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,518 | €12,532 | -€986 | -7.3% |
| Other operating charges | 640/8 | €19,758 | €13,716 | -€6,042 | -30.6% |
| Gross operating margin | 9900 | €30,149 | €58,542 | +€28,393 | +94.2% |
| Operating profit (loss) | 9901 | -€3,127 | €32,294 | +€35,421 | |
| Financial charges | 65/66B | €851 | €566 | -€285 | -33.5% |
| Recurring financial charges | 65 | €842 | €566 | -€276 | -32.8% |
| Non-recurring financial charges | 66B | €9 | - | -€9 | |
| Profit (loss) for the period before taxes | 9903 | -€3,978 | €31,728 | +€35,706 | |
| Income taxes | 67/77 | €3,210 | €9,064 | +€5,854 | +182.4% |
| Profit (loss) for the period | 9904 | -€7,188 | €22,664 | +€29,852 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,188 | €22,664 | +€29,852 |
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 4 October 2026 via checked.be.