HARTHE: 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.
HARTHE
Largest movements
- Tangible fixed assets -€14,720
down €14,720 (-74.3%), from €19,805 to €5,085
- Receivables within one year +€5,151
up €5,151 (+18.5%), from €27,805 to €32,956
- Cash -€3,824
down €3,824 (-5.7%), from €66,653 to €62,829
mainly Contributions, distributions and other (-€30,000) and Current portion of long-term debt (-€10,000)
- Current portion of long-term debt -€10,000
no longer reported in 2025 (was €10,000)
- Trade debts +€5,844
up €5,844 (+84.7%), from €6,903 to €12,747
- Tax, wage and social debts -€4,867
down €4,867 (-20.6%), from €23,577 to €18,710
- Accrued charges and deferred income -€2,882
no longer reported in 2025 (was €2,882)
- Gross operating margin -€7,685
down €7,685 (-12.1%), from €63,283 to €55,598
- Taxes -€1,685
down €1,685 (-16.2%), from €10,399 to €8,714
- Other operating charges -€699
down €699 (-53.4%), from €1,310 to €611
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €120,408 | €107,718 | -€12,690 | -10.5% |
| Fixed assets | 21/28 | €19,893 | €5,173 | -€14,720 | -74.0% |
| Tangible fixed assets | 22/27 | €19,805 | €5,085 | -€14,720 | -74.3% |
| Furniture and vehicles | 24 | €19,805 | €5,085 | -€14,720 | -74.3% |
| Financial fixed assets | 28 | €88 | €88 | = | 0.0% |
| Current assets | 29/58 | €100,515 | €102,545 | +€2,030 | +2.0% |
| Amounts receivable within one year | 40/41 | €27,805 | €32,956 | +€5,151 | +18.5% |
| Trade receivables | 40 | €27,805 | €32,956 | +€5,151 | +18.5% |
| Cash at bank and in hand | 54/58 | €66,653 | €62,829 | -€3,824 | -5.7% |
| Deferred charges and accrued income | 490/1 | €6,057 | €6,760 | +€703 | +11.6% |
| Total equity and liabilities | 10/49 | €120,408 | €107,718 | -€12,690 | -10.5% |
| Equity | 10/15 | €49,766 | €50,083 | +€317 | +0.6% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,306 | €29,623 | +€317 | +1.1% |
| Amounts payable | 17/49 | €70,642 | €57,635 | -€13,007 | -18.4% |
| Amounts payable within one year | 42/48 | €67,760 | €57,635 | -€10,125 | -14.9% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | - | -€10,000 | |
| Trade debts | 44 | €6,903 | €12,747 | +€5,844 | +84.7% |
| Suppliers | 440/4 | €6,903 | €12,747 | +€5,844 | +84.7% |
| Advances received on contracts in progress | 46 | €555 | - | -€555 | |
| Taxes, remuneration and social security | 45 | €23,577 | €18,710 | -€4,867 | -20.6% |
| Taxes | 450/3 | €23,577 | €18,710 | -€4,867 | -20.6% |
| Other amounts payable | 47/48 | €26,725 | €26,178 | -€547 | -2.0% |
| Accrued charges and deferred income | 492/3 | €2,882 | - | -€2,882 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,720 | €14,720 | = | 0.0% |
| Other operating charges | 640/8 | €1,310 | €611 | -€699 | -53.4% |
| Gross operating margin | 9900 | €63,283 | €55,598 | -€7,685 | -12.1% |
| Operating profit (loss) | 9901 | €47,253 | €40,267 | -€6,986 | -14.8% |
| Financial income | 75/76B | €23 | €81 | +€58 | +252.2% |
| Recurring financial income | 75 | €23 | €81 | +€58 | +252.2% |
| Financial charges | 65/66B | €1,517 | €1,317 | -€200 | -13.2% |
| Recurring financial charges | 65 | €1,517 | €1,317 | -€200 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €45,759 | €39,031 | -€6,728 | -14.7% |
| Income taxes | 67/77 | €10,399 | €8,714 | -€1,685 | -16.2% |
| Profit (loss) for the period | 9904 | €35,360 | €30,317 | -€5,043 | -14.3% |
| Profit (loss) for the period to be appropriated | 9905 | €35,360 | €30,317 | -€5,043 | -14.3% |
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 6 October 2026 via checked.be.