HartWare: 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.
HartWare
Largest movements
- Receivables within one year -€4,314
down €4,314 (-35.3%), from €12,227 to €7,913
of which Other amounts receivable: -€4,403
- Cash -€3,767
down €3,767 (-3.3%), from €112,983 to €109,216
mainly Contributions, distributions and other (-€63,106) and Investment in fixed assets (net) (-€3,544)
- Profit (loss) carried forward -€63,106
no longer reported in 2025 (was €63,106)
- Reserves +€55,923
up €55,923 (+110%), from €51,035 to €106,958
- Taxes +€5,032
up €5,032 (+30.5%), from €16,514 to €21,546
- Gross operating margin -€2,110
down €2,110 (-2.6%), from €82,357 to €80,247
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 | €133,799 | €126,610 | -€7,188 | -5.4% |
| Fixed assets | 21/28 | €8,588 | €9,481 | +€893 | +10.4% |
| Tangible fixed assets | 22/27 | €7,038 | €7,931 | +€893 | +12.7% |
| Land and buildings | 22 | €2,412 | €2,123 | -€289 | -12.0% |
| Plant, machinery and equipment | 23 | €2,561 | €4,590 | +€2,029 | +79.2% |
| Furniture and vehicles | 24 | €2,065 | €1,218 | -€847 | -41.0% |
| Financial fixed assets | 28 | €1,550 | €1,550 | = | 0.0% |
| Current assets | 29/58 | €125,211 | €117,130 | -€8,081 | -6.5% |
| Amounts receivable within one year | 40/41 | €12,227 | €7,913 | -€4,314 | -35.3% |
| Trade receivables | 40 | €7,825 | €7,913 | +€89 | +1.1% |
| Other amounts receivable | 41 | €4,403 | - | -€4,403 | |
| Cash at bank and in hand | 54/58 | €112,983 | €109,216 | -€3,767 | -3.3% |
| Total equity and liabilities | 10/49 | €133,799 | €126,610 | -€7,188 | -5.4% |
| Equity | 10/15 | €118,141 | €110,958 | -€7,182 | -6.1% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €51,035 | €106,958 | +€55,923 | +110% |
| Distributable reserves | 133 | €51,035 | €106,958 | +€55,923 | +110% |
| Profit (loss) carried forward | 14 | €63,106 | - | -€63,106 | |
| Amounts payable | 17/49 | €15,658 | €15,652 | -€6 | 0.0% |
| Amounts payable within one year | 42/48 | €15,658 | €15,652 | -€6 | 0.0% |
| Trade debts | 44 | €119 | - | -€119 | |
| Suppliers | 440/4 | €119 | - | -€119 | |
| Taxes, remuneration and social security | 45 | €15,539 | €15,296 | -€243 | -1.6% |
| Taxes | 450/3 | €15,539 | €15,296 | -€243 | -1.6% |
| Other amounts payable | 47/48 | - | €356 | +€356 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,697 | €2,651 | -€46 | -1.7% |
| Other operating charges | 640/8 | - | €58 | +€58 | |
| Gross operating margin | 9900 | €82,357 | €80,247 | -€2,110 | -2.6% |
| Operating profit (loss) | 9901 | €79,659 | €77,538 | -€2,122 | -2.7% |
| Financial charges | 65/66B | €40 | €69 | +€29 | +71.8% |
| Recurring financial charges | 65 | €40 | €69 | +€29 | +71.8% |
| Profit (loss) for the period before taxes | 9903 | €79,619 | €77,469 | -€2,150 | -2.7% |
| Income taxes | 67/77 | €16,514 | €21,546 | +€5,032 | +30.5% |
| Profit (loss) for the period | 9904 | €63,106 | €55,923 | -€7,182 | -11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €63,106 | €55,923 | -€7,182 | -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 25 October 2026 via checked.be.