HARTEO: 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.
HARTEO
Largest movements
- Cash +€132,935
up €132,935 (+47.5%), from €280,148 to €413,083
mainly Other debts (+€350,370) and Net result for the year (+€116,368)
- Current investments -€70,000
no longer reported in 2025 (was €70,000)
- Receivables within one year -€24,841
down €24,841 (-88.8%), from €27,989 to €3,148
of which Trade receivables: -€24,844
- Other debts +€350,370
up €350,370 (+21442.6%), from €1,634 to €352,004
- Profit (loss) carried forward -€314,296
down €314,296 (-86.3%), from €364,296 to €50,000
- Tax, wage and social debts +€33,934
up €33,934 (+65.0%), from €52,188 to €86,122
of which Taxes: +€33,934
- Advances received -€19,511
no longer reported in 2025 (was €19,511)
- Trade debts -€9,781
down €9,781 (-87.2%), from €11,221 to €1,440
- Gross operating margin -€5,429
down €5,429 (-3.5%), from €156,556 to €151,127
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 | €451,251 | €491,967 | +€40,716 | +9.0% |
| Fixed assets | 21/28 | €28,733 | €27,395 | -€1,337 | -4.7% |
| Tangible fixed assets | 22/27 | €8,733 | €7,395 | -€1,337 | -15.3% |
| Plant, machinery and equipment | 23 | - | €1,241 | +€1,241 | |
| Furniture and vehicles | 24 | €3,899 | €1,996 | -€1,903 | -48.8% |
| Other tangible fixed assets | 26 | €4,834 | €4,158 | -€676 | -14.0% |
| Financial fixed assets | 28 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €422,518 | €464,571 | +€42,053 | +10.0% |
| Amounts receivable within one year | 40/41 | €27,989 | €3,148 | -€24,841 | -88.8% |
| Trade receivables | 40 | €27,986 | €3,142 | -€24,844 | -88.8% |
| Other amounts receivable | 41 | €3 | €6 | +€4 | +133.3% |
| Current investments | 50/53 | €70,000 | - | -€70,000 | |
| Cash at bank and in hand | 54/58 | €280,148 | €413,083 | +€132,935 | +47.5% |
| Deferred charges and accrued income | 490/1 | €44,381 | €48,341 | +€3,959 | +8.9% |
| Total equity and liabilities | 10/49 | €451,251 | €491,967 | +€40,716 | +9.0% |
| Equity | 10/15 | €366,696 | €52,400 | -€314,296 | -85.7% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €364,296 | €50,000 | -€314,296 | -86.3% |
| Amounts payable | 17/49 | €84,555 | €439,567 | +€355,012 | +419.9% |
| Amounts payable within one year | 42/48 | €84,555 | €439,567 | +€355,012 | +419.9% |
| Trade debts | 44 | €11,221 | €1,440 | -€9,781 | -87.2% |
| Suppliers | 440/4 | €11,221 | €1,440 | -€9,781 | -87.2% |
| Advances received on contracts in progress | 46 | €19,511 | - | -€19,511 | |
| Taxes, remuneration and social security | 45 | €52,188 | €86,122 | +€33,934 | +65.0% |
| Taxes | 450/3 | €50,188 | €84,122 | +€33,934 | +67.6% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €1,634 | €352,004 | +€350,370 | +21442.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,834 | €2,997 | +€164 | +5.8% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | €1,115 | - | -€1,115 | |
| Gross operating margin | 9900 | €156,556 | €151,127 | -€5,429 | -3.5% |
| Operating profit (loss) | 9901 | €152,220 | €147,730 | -€4,490 | -2.9% |
| Financial income | 75/76B | €4,525 | €3,221 | -€1,305 | -28.8% |
| Recurring financial income | 75 | €4,525 | €3,221 | -€1,305 | -28.8% |
| Financial charges | 65/66B | €1,379 | €828 | -€551 | -39.9% |
| Recurring financial charges | 65 | €1,379 | €828 | -€551 | -39.9% |
| Profit (loss) for the period before taxes | 9903 | €155,366 | €150,122 | -€5,244 | -3.4% |
| Income taxes | 67/77 | €35,011 | €33,754 | -€1,257 | -3.6% |
| Profit (loss) for the period | 9904 | €120,356 | €116,368 | -€3,987 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €120,356 | €116,368 | -€3,987 | -3.3% |
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 5 October 2026 via checked.be.