Hart: 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.
Hart
Largest movements
- Intangible fixed assets -€8,975
down €8,975 (-24.7%), from €36,318 to €27,343
- Cash -€5,217
down €5,217 (-89.9%), from €5,803 to €586
mainly Other debts (-€21,919) and Tax, wage and social debts (-€1,805)
- Stocks and contracts -€1,573
down €1,573 (-40.5%), from €3,887 to €2,314
- Tangible fixed assets -€648
down €648 (-54.5%), from €1,188 to €540
- Other debts -€21,919
down €21,919 (-65.7%), from €33,354 to €11,435
- Profit (loss) carried forward +€7,962
up €7,962, from -€5,184 to €2,778
- Tax, wage and social debts -€1,805
down €1,805 (-17.2%), from €10,474 to €8,670
- Trade debts -€870
down €870 (-12.5%), from €6,940 to €6,070
- Gross operating margin +€19,365
up €19,365 (+261%), from €7,412 to €26,777
- Taxes +€2,664
up €2,664 (+2,176%), from €122 to €2,787
- Other operating charges +€2,580
up €2,580 (+102%), from €2,539 to €5,119
- Financial charges +€663
up €663 (+105%), from €633 to €1,296
- Depreciation +€448
up €448 (+4.9%), from €9,175 to €9,623
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.
Derived cash bridge
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 | €47,584 | €31,063 | -€16,521 | -34.7% |
| Fixed assets | 21/28 | €37,556 | €27,933 | -€9,623 | -25.6% |
| Intangible fixed assets | 21 | €36,318 | €27,343 | -€8,975 | -24.7% |
| Tangible fixed assets | 22/27 | €1,188 | €540 | -€648 | -54.5% |
| Furniture and vehicles | 24 | €1,188 | €540 | -€648 | -54.5% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €10,028 | €3,130 | -€6,898 | -68.8% |
| Stocks and contracts in progress | 3 | €3,887 | €2,314 | -€1,573 | -40.5% |
| Stocks | 30/36 | €3,887 | €2,314 | -€1,573 | -40.5% |
| Amounts receivable within one year | 40/41 | €213 | €230 | +€17 | +8.1% |
| Other amounts receivable | 41 | €213 | €230 | +€17 | +8.1% |
| Cash at bank and in hand | 54/58 | €5,803 | €586 | -€5,217 | -89.9% |
| Deferred charges and accrued income | 490/1 | €125 | €0 | -€125 | -100% |
| Total equity and liabilities | 10/49 | €47,584 | €31,063 | -€16,521 | -34.7% |
| Equity | 10/15 | -€3,184 | €4,778 | +€7,962 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,184 | €2,778 | +€7,962 | |
| Amounts payable | 17/49 | €50,768 | €26,285 | -€24,483 | -48.2% |
| Amounts payable within one year | 42/48 | €50,768 | €26,175 | -€24,593 | -48.4% |
| Trade debts | 44 | €6,940 | €6,070 | -€870 | -12.5% |
| Suppliers | 440/4 | €6,940 | €6,070 | -€870 | -12.5% |
| Taxes, remuneration and social security | 45 | €10,474 | €8,670 | -€1,805 | -17.2% |
| Taxes | 450/3 | €10,474 | €8,670 | -€1,805 | -17.2% |
| Other amounts payable | 47/48 | €33,354 | €11,435 | -€21,919 | -65.7% |
| Accrued charges and deferred income | 492/3 | - | €110 | +€110 | |
| Remuneration, social security and pensions | 62 | €130 | €0 | -€130 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,175 | €9,623 | +€448 | +4.9% |
| Other operating charges | 640/8 | €2,539 | €5,119 | +€2,580 | +102% |
| Gross operating margin | 9900 | €7,412 | €26,777 | +€19,365 | +261% |
| Operating profit (loss) | 9901 | -€4,431 | €12,035 | +€16,467 | |
| Financial income | 75/76B | €3 | €10 | +€7 | +264% |
| Recurring financial income | 75 | €3 | €10 | +€7 | +264% |
| Financial charges | 65/66B | €633 | €1,296 | +€663 | +105% |
| Recurring financial charges | 65 | €633 | €1,296 | +€663 | +105% |
| Profit (loss) for the period before taxes | 9903 | -€5,062 | €10,749 | +€15,811 | |
| Income taxes | 67/77 | €122 | €2,787 | +€2,664 | +2,176% |
| Profit (loss) for the period | 9904 | -€5,184 | €7,962 | +€13,147 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,184 | €7,962 | +€13,147 |
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 16 October 2026 via checked.be.