HARTSTIKKE: 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.
HARTSTIKKE
Largest movements
- Receivables within one year -€63,517
down €63,517 (-19.2%), from €330,230 to €266,713
of which Trade receivables: -€75,219
- Cash +€17,002
up €17,002 (+6.9%), from €246,787 to €263,789
mainly Receivables within one year (+€63,517) and Depreciation (+€11,818)
- Deferred charges and accrued income +€7,492
up €7,492 (+92,493%), from €8 to €7,500
- Trade debts -€33,967
down €33,967 (-10.3%), from €328,602 to €294,634
- Tax, wage and social debts -€17,080
down €17,080 (-36.8%), from €46,403 to €29,323
of which Taxes: -€10,869
- Reserves +€6,482
up €6,482 (+2.8%), from €232,769 to €239,251
- Staff costs +€40,719
up €40,719 (+20.4%), from €199,438 to €240,157
- Taxes -€9,240
down €9,240 (-61.2%), from €15,103 to €5,863
- Gross operating margin +€3,936
up €3,936 (+1.5%), from €261,581 to €265,516
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 | €610,788 | €566,199 | -€44,589 | -7.3% |
| Fixed assets | 21/28 | €33,762 | €28,197 | -€5,565 | -16.5% |
| Tangible fixed assets | 22/27 | €26,562 | €20,997 | -€5,565 | -21.0% |
| Plant, machinery and equipment | 23 | €18,015 | €13,754 | -€4,261 | -23.7% |
| Furniture and vehicles | 24 | €8,548 | €7,244 | -€1,304 | -15.3% |
| Financial fixed assets | 28 | €7,200 | €7,200 | = | 0.0% |
| Current assets | 29/58 | €577,025 | €538,002 | -€39,024 | -6.8% |
| Amounts receivable within one year | 40/41 | €330,230 | €266,713 | -€63,517 | -19.2% |
| Trade receivables | 40 | €330,177 | €254,958 | -€75,219 | -22.8% |
| Other amounts receivable | 41 | €53 | €11,754 | +€11,702 | +22,289% |
| Cash at bank and in hand | 54/58 | €246,787 | €263,789 | +€17,002 | +6.9% |
| Deferred charges and accrued income | 490/1 | €8 | €7,500 | +€7,492 | +92,493% |
| Total equity and liabilities | 10/49 | €610,788 | €566,199 | -€44,589 | -7.3% |
| Equity | 10/15 | €234,769 | €241,251 | +€6,482 | +2.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €232,769 | €239,251 | +€6,482 | +2.8% |
| Distributable reserves | 133 | €232,769 | €239,251 | +€6,482 | +2.8% |
| Amounts payable | 17/49 | €376,018 | €324,948 | -€51,071 | -13.6% |
| Amounts payable within one year | 42/48 | €376,018 | €324,948 | -€51,071 | -13.6% |
| Trade debts | 44 | €328,602 | €294,634 | -€33,967 | -10.3% |
| Suppliers | 440/4 | €328,602 | €294,634 | -€33,967 | -10.3% |
| Taxes, remuneration and social security | 45 | €46,403 | €29,323 | -€17,080 | -36.8% |
| Taxes | 450/3 | €10,869 | €0 | -€10,869 | -100.0% |
| Remuneration and social security | 454/9 | €35,533 | €29,323 | -€6,211 | -17.5% |
| Other amounts payable | 47/48 | €1,014 | €990 | -€23 | -2.3% |
| Remuneration, social security and pensions | 62 | €199,438 | €240,157 | +€40,719 | +20.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,623 | €11,818 | +€1,195 | +11.2% |
| Other operating charges | 640/8 | €2,447 | €684 | -€1,763 | -72.0% |
| Non-recurring operating charges | 66A | €810 | - | -€810 | |
| Gross operating margin | 9900 | €261,581 | €265,516 | +€3,936 | +1.5% |
| Operating profit (loss) | 9901 | €48,262 | €12,857 | -€35,405 | -73.4% |
| Financial income | 75/76B | €4 | €1 | -€4 | -78.8% |
| Recurring financial income | 75 | €4 | €1 | -€4 | -78.8% |
| Financial charges | 65/66B | €848 | €513 | -€335 | -39.5% |
| Recurring financial charges | 65 | €848 | €513 | -€335 | -39.5% |
| Profit (loss) for the period before taxes | 9903 | €47,418 | €12,345 | -€35,073 | -74.0% |
| Income taxes | 67/77 | €15,103 | €5,863 | -€9,240 | -61.2% |
| Profit (loss) for the period | 9904 | €32,315 | €6,482 | -€25,833 | -79.9% |
| Profit (loss) for the period to be appropriated | 9905 | €32,315 | €6,482 | -€25,833 | -79.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.