HARTEC: 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.
HARTEC
Largest movements
- Cash +€8,317
up €8,317 (+11.4%), from €73,063 to €81,380
mainly Net result for the year (+€18,236) and Other debts (+€4,604)
- Deferred charges and accrued income -€4,187
down €4,187 (-65.3%), from €6,414 to €2,227
- Receivables within one year +€3,778
up €3,778 (+18.6%), from €20,263 to €24,042
of which Trade receivables: +€2,756
- Tangible fixed assets -€2,926
down €2,926 (-30.5%), from €9,585 to €6,660
of which Furniture and vehicles: -€2,519
- Other debts +€4,604
up €4,604 (+33.8%), from €13,632 to €18,236
- Write-downs -€7,212
down €7,212 (-100.0%), from €7,212 to €0
- Gross operating margin -€1,515
down €1,515 (-4.9%), from €30,887 to €29,372
- Taxes +€1,351
up €1,351 (+29.5%), from €4,580 to €5,931
- Depreciation -€1,065
down €1,065 (-26.7%), from €3,990 to €2,926
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 | €109,426 | €114,409 | +€4,983 | +4.6% |
| Fixed assets | 21/28 | €9,685 | €6,760 | -€2,926 | -30.2% |
| Tangible fixed assets | 22/27 | €9,585 | €6,660 | -€2,926 | -30.5% |
| Plant, machinery and equipment | 23 | €685 | €279 | -€407 | -59.3% |
| Furniture and vehicles | 24 | €8,900 | €6,381 | -€2,519 | -28.3% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €99,741 | €107,649 | +€7,908 | +7.9% |
| Amounts receivable within one year | 40/41 | €20,263 | €24,042 | +€3,778 | +18.6% |
| Trade receivables | 40 | €17,329 | €20,085 | +€2,756 | +15.9% |
| Other amounts receivable | 41 | €2,934 | €3,957 | +€1,022 | +34.8% |
| Cash at bank and in hand | 54/58 | €73,063 | €81,380 | +€8,317 | +11.4% |
| Deferred charges and accrued income | 490/1 | €6,414 | €2,227 | -€4,187 | -65.3% |
| Total equity and liabilities | 10/49 | €109,426 | €114,409 | +€4,983 | +4.6% |
| Equity | 10/15 | €70,816 | €70,816 | = | 0.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €66,720 | €66,720 | = | 0.0% |
| Distributable reserves | 133 | €66,720 | €66,720 | = | 0.0% |
| Profit (loss) carried forward | 14 | €95 | €95 | = | 0.0% |
| Amounts payable | 17/49 | €38,610 | €43,593 | +€4,983 | +12.9% |
| Amounts payable within one year | 42/48 | €35,210 | €39,493 | +€4,283 | +12.2% |
| Trade debts | 44 | €243 | €134 | -€109 | -44.7% |
| Suppliers | 440/4 | €243 | €134 | -€109 | -44.7% |
| Taxes, remuneration and social security | 45 | €21,335 | €21,123 | -€213 | -1.0% |
| Taxes | 450/3 | €21,335 | €21,123 | -€213 | -1.0% |
| Other amounts payable | 47/48 | €13,632 | €18,236 | +€4,604 | +33.8% |
| Accrued charges and deferred income | 492/3 | €3,400 | €4,100 | +€700 | +20.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,990 | €2,926 | -€1,065 | -26.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,212 | €0 | -€7,212 | -100.0% |
| Other operating charges | 640/8 | €2,527 | €2,274 | -€254 | -10.0% |
| Gross operating margin | 9900 | €30,887 | €29,372 | -€1,515 | -4.9% |
| Operating profit (loss) | 9901 | €17,157 | €24,173 | +€7,016 | +40.9% |
| Financial income | 75/76B | €177 | €144 | -€33 | -18.5% |
| Recurring financial income | 75 | €177 | €144 | -€33 | -18.5% |
| Financial charges | 65/66B | €135 | €150 | +€15 | +11.1% |
| Recurring financial charges | 65 | €135 | €150 | +€15 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €17,199 | €24,167 | +€6,968 | +40.5% |
| Income taxes | 67/77 | €4,580 | €5,931 | +€1,351 | +29.5% |
| Profit (loss) for the period | 9904 | €12,618 | €18,236 | +€5,618 | +44.5% |
| Profit (loss) for the period to be appropriated | 9905 | €12,618 | €18,236 | +€5,618 | +44.5% |
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.