HARVEST MANAGEMENT: 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.
HARVEST MANAGEMENT
Largest movements
- Receivables within one year -€842,761
down €842,761 (-8.5%), from €9.9m to €9.0m
of which Other amounts receivable: -€908,476
- Current investments -€800,000
down €800,000 (-61.5%), from €1.3m to €500,000
- Reserves -€789,000
down €789,000 (-49.2%), from €1.6m to €815,000
of which Non-distributable reserves: -€800,000
- Advances received -€639,661
down €639,661 (-6.9%), from €9.3m to €8.7m
- Trade debts -€271,939
down €271,939 (-8.2%), from €3.3m to €3.1m
- Staff costs +€88,303
up €88,303 (+10.1%), from €870,288 to €958,591
- Financial income -€47,975
down €47,975 (-57.6%), from €83,281 to €35,307
- Gross operating margin +€21,874
up €21,874 (+1.7%), from €1.3m to €1.3m
- Financial charges -€17,271
down €17,271 (-99.1%), from €17,434 to €163
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 | €14,880,283 | €13,190,547 | -€1.7m | -11.4% |
| Fixed assets | 21/28 | €108,863 | €80,276 | -€28,588 | -26.3% |
| Tangible fixed assets | 22/27 | €108,863 | €80,276 | -€28,588 | -26.3% |
| Furniture and vehicles | 24 | €107,588 | €79,001 | -€28,588 | -26.6% |
| Other tangible fixed assets | 26 | €1,275 | €1,275 | = | 0.0% |
| Current assets | 29/58 | €14,771,419 | €13,110,271 | -€1.7m | -11.2% |
| Amounts receivable within one year | 40/41 | €9,877,152 | €9,034,390 | -€842,761 | -8.5% |
| Trade receivables | 40 | €590,915 | €656,629 | +€65,715 | +11.1% |
| Other amounts receivable | 41 | €9,286,237 | €8,377,761 | -€908,476 | -9.8% |
| Current investments | 50/53 | €1,300,000 | €500,000 | -€800,000 | -61.5% |
| Cash at bank and in hand | 54/58 | €3,541,943 | €3,557,794 | +€15,850 | +0.4% |
| Deferred charges and accrued income | 490/1 | €52,325 | €18,088 | -€34,237 | -65.4% |
| Total equity and liabilities | 10/49 | €14,880,283 | €13,190,547 | -€1.7m | -11.4% |
| Equity | 10/15 | €1,610,456 | €822,170 | -€788,286 | -48.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,604,000 | €815,000 | -€789,000 | -49.2% |
| Non-distributable reserves | 130/1 | €800,000 | - | -€800,000 | |
| Other | 1319 | €800,000 | - | -€800,000 | |
| Tax-exempt reserves | 132 | €955 | €955 | = | 0.0% |
| Distributable reserves | 133 | €803,045 | €814,045 | +€11,000 | +1.4% |
| Profit (loss) carried forward | 14 | €256 | €970 | +€714 | +278.6% |
| Amounts payable | 17/49 | €13,269,827 | €12,368,377 | -€901,449 | -6.8% |
| Amounts payable within one year | 42/48 | €13,263,312 | €12,367,561 | -€895,750 | -6.8% |
| Trade debts | 44 | €3,333,105 | €3,061,166 | -€271,939 | -8.2% |
| Suppliers | 440/4 | €3,333,105 | €3,061,166 | -€271,939 | -8.2% |
| Advances received on contracts in progress | 46 | €9,336,853 | €8,697,192 | -€639,661 | -6.9% |
| Taxes, remuneration and social security | 45 | €180,278 | €236,128 | +€55,850 | +31.0% |
| Taxes | 450/3 | €71,019 | €117,033 | +€46,014 | +64.8% |
| Remuneration and social security | 454/9 | €109,259 | €119,095 | +€9,836 | +9.0% |
| Other amounts payable | 47/48 | €413,075 | €373,075 | -€40,000 | -9.7% |
| Accrued charges and deferred income | 492/3 | €6,515 | €816 | -€5,699 | -87.5% |
| Non-recurring operating income | 76A | €1,250 | €543 | -€707 | -56.6% |
| Remuneration, social security and pensions | 62 | €870,288 | €958,591 | +€88,303 | +10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,386 | €32,465 | +€5,079 | +18.5% |
| Other operating charges | 640/8 | €4,882 | €3,168 | -€1,714 | -35.1% |
| Gross operating margin | 9900 | €1,323,118 | €1,344,992 | +€21,874 | +1.7% |
| Operating profit (loss) | 9901 | €420,562 | €350,769 | -€69,793 | -16.6% |
| Financial income | 75/76B | €83,281 | €35,307 | -€47,975 | -57.6% |
| Recurring financial income | 75 | €83,281 | €35,307 | -€47,975 | -57.6% |
| Financial charges | 65/66B | €17,434 | €163 | -€17,271 | -99.1% |
| Recurring financial charges | 65 | €17,434 | €163 | -€17,271 | -99.1% |
| Profit (loss) for the period before taxes | 9903 | €486,410 | €385,912 | -€100,498 | -20.7% |
| Income taxes | 67/77 | €26,056 | €14,198 | -€11,857 | -45.5% |
| Profit (loss) for the period | 9904 | €460,354 | €371,714 | -€88,640 | -19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €460,354 | €371,714 | -€88,640 | -19.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.