HARTE TROEF: 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.
HARTE TROEF
Largest movements
- Cash -€1,358
down €1,358 (-6.9%), from €19,681 to €18,323
mainly Net result for the year (-€2,208) and Receivables within one year (-€154)
- Tangible fixed assets -€1,004
down €1,004 (-61.8%), from €1,625 to €622
- Profit (loss) carried forward -€2,208
down €2,208 (-0.9%), from -€232,526 to -€234,734
- Gross operating margin +€11,511
up €11,511 (+90.8%), from -€12,677 to -€1,166
- Depreciation -€10,081
down €10,081 (-90.9%), from €11,085 to €1,004
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 | €67,474 | €65,266 | -€2,208 | -3.3% |
| Fixed assets | 21/28 | €1,625 | €622 | -€1,004 | -61.8% |
| Tangible fixed assets | 22/27 | €1,625 | €622 | -€1,004 | -61.8% |
| Plant, machinery and equipment | 23 | €1,625 | €622 | -€1,004 | -61.8% |
| Current assets | 29/58 | €65,849 | €64,644 | -€1,204 | -1.8% |
| Amounts receivable within one year | 40/41 | €42,820 | €42,974 | +€154 | +0.4% |
| Trade receivables | 40 | €42,234 | €42,234 | = | 0.0% |
| Other amounts receivable | 41 | €586 | €740 | +€154 | +26.2% |
| Current investments | 50/53 | €3,348 | €3,348 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €19,681 | €18,323 | -€1,358 | -6.9% |
| Total equity and liabilities | 10/49 | €67,474 | €65,266 | -€2,208 | -3.3% |
| Equity | 10/15 | €67,474 | €65,266 | -€2,208 | -3.3% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€232,526 | -€234,734 | -€2,208 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,085 | €1,004 | -€10,081 | -90.9% |
| Gross operating margin | 9900 | -€12,677 | -€1,166 | +€11,511 | +90.8% |
| Operating profit (loss) | 9901 | -€23,763 | -€2,170 | +€21,593 | +90.9% |
| Financial charges | 65/66B | €38 | €38 | = | 0.0% |
| Recurring financial charges | 65 | €38 | €38 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€23,801 | -€2,208 | +€21,593 | +90.7% |
| Profit (loss) for the period | 9904 | -€23,801 | -€2,208 | +€21,593 | +90.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,801 | -€2,208 | +€21,593 | +90.7% |
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.