HARTIN: 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.
HARTIN
Largest movements
- Receivables after one year -€155,108
down €155,108 (-22.5%), from €689,425 to €534,317
- Cash +€14,474
up €14,474 (+536%), from €2,699 to €17,173
mainly Receivables after one year (+€155,108) and Depreciation (+€75,469)
- Debts after one year -€115,205
down €115,205 (-24.1%), from €477,212 to €362,007
- Profit (loss) carried forward -€17,336
down €17,336 (-6.2%), from €278,778 to €261,443
- Trade debts +€16,514
up €16,514 (+204%), from €8,080 to €24,593
- Reserves -€15,021
down €15,021 (-9.2%), from €163,593 to €148,572
of which Tax-exempt reserves: -€15,021
- Financial charges +€29,063
up €29,063 (+249%), from €11,657 to €40,720
- Gross operating margin -€23,296
down €23,296 (-23.2%), from €100,478 to €77,182
- Financial income -€16,419
down €16,419 (-39.4%), from €41,707 to €25,288
- Taxes -€8,584
down €8,584 (-44.4%), from €19,353 to €10,769
- Depreciation +€3,580
up €3,580 (+5.0%), from €71,890 to €75,469
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 | €1,413,293 | €1,277,069 | -€136,224 | -9.6% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €695,297 | €688,325 | -€6,972 | -1.0% |
| Tangible fixed assets | 22/27 | €644,997 | €638,025 | -€6,972 | -1.1% |
| Land and buildings | 22 | €499,440 | €427,934 | -€71,506 | -14.3% |
| Plant, machinery and equipment | 23 | €448 | €110 | -€337 | -75.4% |
| Furniture and vehicles | 24 | €145,110 | €209,981 | +€64,871 | +44.7% |
| Financial fixed assets | 28 | €50,300 | €50,300 | = | 0.0% |
| Current assets | 29/58 | €717,997 | €588,744 | -€129,253 | -18.0% |
| Amounts receivable after more than one year | 29 | €689,425 | €534,317 | -€155,108 | -22.5% |
| Other amounts receivable | 291 | €689,425 | €534,317 | -€155,108 | -22.5% |
| Amounts receivable within one year | 40/41 | €23,415 | €31,542 | +€8,126 | +34.7% |
| Trade receivables | 40 | €23,415 | €31,542 | +€8,126 | +34.7% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €2,699 | €17,173 | +€14,474 | +536% |
| Deferred charges and accrued income | 490/1 | €2,458 | €5,712 | +€3,255 | +132% |
| Total equity and liabilities | 10/49 | €1,413,293 | €1,277,069 | -€136,224 | -9.6% |
| Equity | 10/15 | €789,026 | €756,669 | -€32,357 | -4.1% |
| Contributions | 10/11 | €346,654 | €346,654 | = | 0.0% |
| Capital | 10 | €346,654 | €346,654 | = | 0.0% |
| Issued capital | 100 | €346,654 | €346,654 | = | 0.0% |
| Reserves | 13 | €163,593 | €148,572 | -€15,021 | -9.2% |
| Non-distributable reserves | 130/1 | €34,665 | €34,665 | = | 0.0% |
| Legal reserve | 130 | €34,665 | €34,665 | = | 0.0% |
| Tax-exempt reserves | 132 | €128,928 | €113,907 | -€15,021 | -11.7% |
| Profit (loss) carried forward | 14 | €278,778 | €261,443 | -€17,336 | -6.2% |
| Provisions and deferred taxes | 16 | €66,115 | €58,380 | -€7,735 | -11.7% |
| Deferred taxes | 168 | €66,115 | €58,380 | -€7,735 | -11.7% |
| Amounts payable | 17/49 | €558,152 | €462,019 | -€96,133 | -17.2% |
| Amounts payable after more than one year | 17 | €477,212 | €362,007 | -€115,205 | -24.1% |
| Financial debts | 170/4 | €477,212 | €362,007 | -€115,205 | -24.1% |
| Amounts payable within one year | 42/48 | €80,940 | €99,276 | +€18,336 | +22.7% |
| Current portion of amounts payable after more than one year | 42 | €26,399 | €26,833 | +€434 | +1.6% |
| Trade debts | 44 | €8,080 | €24,593 | +€16,514 | +204% |
| Suppliers | 440/4 | €8,080 | €24,593 | +€16,514 | +204% |
| Taxes, remuneration and social security | 45 | €24,106 | €24,145 | +€39 | +0.2% |
| Taxes | 450/3 | €24,106 | €24,145 | +€39 | +0.2% |
| Other amounts payable | 47/48 | €22,356 | €23,705 | +€1,350 | +6.0% |
| Accrued charges and deferred income | 492/3 | - | €736 | +€736 | |
| Non-recurring operating income | 76A | - | €60 | +€60 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,890 | €75,469 | +€3,580 | +5.0% |
| Other operating charges | 640/8 | €15,780 | €15,603 | -€177 | -1.1% |
| Non-recurring operating charges | 66A | €310 | - | -€310 | |
| Gross operating margin | 9900 | €100,478 | €77,182 | -€23,296 | -23.2% |
| Operating profit (loss) | 9901 | €12,498 | -€13,890 | -€26,388 | |
| Financial income | 75/76B | €41,707 | €25,288 | -€16,419 | -39.4% |
| Recurring financial income | 75 | €41,707 | €25,288 | -€16,419 | -39.4% |
| Financial charges | 65/66B | €11,657 | €40,720 | +€29,063 | +249% |
| Recurring financial charges | 65 | €11,657 | €40,720 | +€29,063 | +249% |
| Profit (loss) for the period before taxes | 9903 | €42,548 | -€29,322 | -€71,870 | |
| Transfer from deferred taxes | 780 | €7,735 | €7,735 | = | 0.0% |
| Income taxes | 67/77 | €19,353 | €10,769 | -€8,584 | -44.4% |
| Profit (loss) for the period | 9904 | €30,929 | -€32,357 | -€63,286 | |
| Transfer from tax-exempt reserves | 789 | €15,021 | €15,021 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €45,950 | -€17,336 | -€63,286 |
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 15 October 2026 via checked.be.