Hartensteler: what changed
Hartensteler
Largest movements
- Tangible fixed assets +€53,091
up €53,091 (+5,878%), from €903 to €53,994
- Cash -€37,231
down €37,231 (-68.0%), from €54,715 to €17,484
mainly Investment in fixed assets (net) (-€55,488) and Receivables within one year (-€31,833)
- Receivables within one year +€31,833
up €31,833 (+463%), from €6,878 to €38,711
of which Other amounts receivable: +€32,245
- Stocks and contracts -€6,918
down €6,918 (-27.9%), from €24,805 to €17,888
- Deferred charges and accrued income +€1,539
up €1,539 (+322%), from €477 to €2,016
- Profit (loss) carried forward +€22,463
up €22,463 (+52.8%), from €42,550 to €65,013
- Tax, wage and social debts +€9,819
up €9,819 (+32.7%), from €30,021 to €39,840
- Trade debts +€8,621
up €8,621 (+54.0%), from €15,962 to €24,583
- Financial charges +€4,502
up €4,502 (+244%), from €1,844 to €6,345
- Other operating charges -€3,581
down €3,581 (-70.3%), from €5,096 to €1,515
- Gross operating margin -€3,505
down €3,505 (-8.3%), from €42,030 to €38,525
- Taxes -€3,311
down €3,311 (-31.9%), from €10,394 to €7,083
- Financial income +€2,062
up €2,062 (+867%), from €238 to €2,299
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €89,032 | €130,324 | +€41,291 | +46.4% |
| Fixed assets | 21/28 | €2,156 | €54,224 | +€52,068 | +2,415% |
| Intangible fixed assets | 21 | €1,253 | €230 | -€1,023 | -81.6% |
| Tangible fixed assets | 22/27 | €903 | €53,994 | +€53,091 | +5,878% |
| Furniture and vehicles | 24 | €903 | €53,994 | +€53,091 | +5,878% |
| Current assets | 29/58 | €86,876 | €76,099 | -€10,777 | -12.4% |
| Stocks and contracts in progress | 3 | €24,805 | €17,888 | -€6,918 | -27.9% |
| Stocks | 30/36 | €24,805 | €17,888 | -€6,918 | -27.9% |
| Amounts receivable within one year | 40/41 | €6,878 | €38,711 | +€31,833 | +463% |
| Trade receivables | 40 | €412 | €0 | -€412 | -100% |
| Other amounts receivable | 41 | €6,466 | €38,711 | +€32,245 | +499% |
| Cash at bank and in hand | 54/58 | €54,715 | €17,484 | -€37,231 | -68.0% |
| Deferred charges and accrued income | 490/1 | €477 | €2,016 | +€1,539 | +322% |
| Total equity and liabilities | 10/49 | €89,032 | €130,324 | +€41,291 | +46.4% |
| Equity | 10/15 | €43,050 | €65,513 | +€22,463 | +52.2% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,550 | €65,013 | +€22,463 | +52.8% |
| Amounts payable | 17/49 | €45,983 | €64,811 | +€18,828 | +40.9% |
| Amounts payable within one year | 42/48 | €45,983 | €64,423 | +€18,440 | +40.1% |
| Trade debts | 44 | €15,962 | €24,583 | +€8,621 | +54.0% |
| Suppliers | 440/4 | €15,962 | €24,583 | +€8,621 | +54.0% |
| Taxes, remuneration and social security | 45 | €30,021 | €39,840 | +€9,819 | +32.7% |
| Taxes | 450/3 | €30,021 | €39,840 | +€9,819 | +32.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | €388 | +€388 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,427 | €3,419 | +€992 | +40.9% |
| Other operating charges | 640/8 | €5,096 | €1,515 | -€3,581 | -70.3% |
| Gross operating margin | 9900 | €42,030 | €38,525 | -€3,505 | -8.3% |
| Operating profit (loss) | 9901 | €34,507 | €33,591 | -€916 | -2.7% |
| Financial income | 75/76B | €238 | €2,299 | +€2,062 | +867% |
| Recurring financial income | 75 | €238 | €2,299 | +€2,062 | +867% |
| Financial charges | 65/66B | €1,844 | €6,345 | +€4,502 | +244% |
| Recurring financial charges | 65 | €1,844 | €6,345 | +€4,502 | +244% |
| Profit (loss) for the period before taxes | 9903 | €32,901 | €29,546 | -€3,356 | -10.2% |
| Income taxes | 67/77 | €10,394 | €7,083 | -€3,311 | -31.9% |
| Profit (loss) for the period | 9904 | €22,508 | €22,463 | -€45 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €22,508 | €22,463 | -€45 | -0.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.