HARTOR: 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.
HARTOR
Largest movements
- Cash +€25,484
up €25,484 (+86.5%), from €29,478 to €54,961
mainly Other debts (+€20,787) and Net result for the year (+€13,619)
- Receivables within one year +€8,928
up €8,928 (+92.2%), from €9,680 to €18,608
- Tangible fixed assets -€1,519
down €1,519 (-29.9%), from €5,085 to €3,566
of which Furniture and vehicles: -€1,127
- Stocks and contracts +€1,035
new in 2025: €1,035
- Other debts +€20,787
up €20,787 (+750.9%), from €2,768 to €23,555
- Profit (loss) carried forward +€13,619
up €13,619 (+62.5%), from €21,780 to €35,399
- Gross operating margin -€2,022
down €2,022 (-8.1%), from €25,015 to €22,993
- Depreciation +€311
up €311 (+25.7%), from €1,208 to €1,519
- Financial charges -€305
down €305 (-10.4%), from €2,938 to €2,633
- Taxes -€296
down €296 (-5.9%), from €4,997 to €4,701
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 | €45,443 | €79,707 | +€34,265 | +75.4% |
| Fixed assets | 21/28 | €5,085 | €3,566 | -€1,519 | -29.9% |
| Tangible fixed assets | 22/27 | €5,085 | €3,566 | -€1,519 | -29.9% |
| Furniture and vehicles | 24 | €3,728 | €2,601 | -€1,127 | -30.2% |
| Other tangible fixed assets | 26 | €1,357 | €966 | -€392 | -28.9% |
| Current assets | 29/58 | €40,358 | €76,141 | +€35,784 | +88.7% |
| Stocks and contracts in progress | 3 | - | €1,035 | +€1,035 | |
| Stocks | 30/36 | - | €1,035 | +€1,035 | |
| Amounts receivable within one year | 40/41 | €9,680 | €18,608 | +€8,928 | +92.2% |
| Trade receivables | 40 | €9,680 | €18,608 | +€8,928 | +92.2% |
| Cash at bank and in hand | 54/58 | €29,478 | €54,961 | +€25,484 | +86.5% |
| Deferred charges and accrued income | 490/1 | €1,200 | €1,537 | +€337 | +28.1% |
| Total equity and liabilities | 10/49 | €45,443 | €79,707 | +€34,265 | +75.4% |
| Equity | 10/15 | €24,280 | €37,899 | +€13,619 | +56.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,780 | €35,399 | +€13,619 | +62.5% |
| Amounts payable | 17/49 | €21,163 | €41,808 | +€20,646 | +97.6% |
| Amounts payable within one year | 42/48 | €20,904 | €41,563 | +€20,659 | +98.8% |
| Trade debts | 44 | €1,755 | €1,275 | -€480 | -27.4% |
| Suppliers | 440/4 | €1,755 | €1,275 | -€480 | -27.4% |
| Taxes, remuneration and social security | 45 | €16,380 | €16,733 | +€352 | +2.2% |
| Taxes | 450/3 | €13,575 | €16,733 | +€3,158 | +23.3% |
| Remuneration and social security | 454/9 | €2,806 | €0 | -€2,806 | -100.0% |
| Other amounts payable | 47/48 | €2,768 | €23,555 | +€20,787 | +750.9% |
| Accrued charges and deferred income | 492/3 | €259 | €246 | -€13 | -5.1% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,208 | €1,519 | +€311 | +25.7% |
| Other operating charges | 640/8 | €501 | €521 | +€20 | +4.1% |
| Gross operating margin | 9900 | €25,015 | €22,993 | -€2,022 | -8.1% |
| Operating profit (loss) | 9901 | €23,307 | €20,953 | -€2,354 | -10.1% |
| Financial charges | 65/66B | €2,938 | €2,633 | -€305 | -10.4% |
| Recurring financial charges | 65 | €2,938 | €2,633 | -€305 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €20,369 | €18,320 | -€2,049 | -10.1% |
| Income taxes | 67/77 | €4,997 | €4,701 | -€296 | -5.9% |
| Profit (loss) for the period | 9904 | €15,372 | €13,619 | -€1,753 | -11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €15,372 | €13,619 | -€1,753 | -11.4% |
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 12 October 2026 via checked.be.