MARC HARAS: 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.
MARC HARAS
Largest movements
- Tangible fixed assets +€6,841
up €6,841 (+4.4%), from €155,062 to €161,903
of which Furniture and vehicles: +€14,528
- Cash -€4,758
down €4,758 (-21.9%), from €21,681 to €16,924
mainly Current portion of long-term debt (-€21,038) and Investment in fixed assets (net) (-€17,994)
- Profit (loss) carried forward +€28,167
up €28,167 (+29.4%), from €95,811 to €123,979
- Current portion of long-term debt -€21,038
down €21,038 (-79.8%), from €26,354 to €5,316
- Debts after one year +€14,517
up €14,517, from €0 to €14,517
- Tax, wage and social debts -€14,089
down €14,089 (-36.8%), from €38,280 to €24,191
of which Taxes: -€10,721
- Trade debts -€3,592
down €3,592 (-12.7%), from €28,286 to €24,694
- Staff costs -€2,861
down €2,861 (-5.1%), from €55,867 to €53,005
- Financial charges -€1,348
down €1,348 (-51.1%), from €2,638 to €1,289
- Gross operating margin +€1,223
up €1,223 (+1.2%), from €103,343 to €104,566
- Taxes +€1,075
up €1,075 (+11.0%), from €9,752 to €10,827
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 | €218,388 | €220,838 | +€2,449 | +1.1% |
| Fixed assets | 21/28 | €173,824 | €180,665 | +€6,841 | +3.9% |
| Intangible fixed assets | 21 | €15,190 | €15,190 | = | 0.0% |
| Tangible fixed assets | 22/27 | €155,062 | €161,903 | +€6,841 | +4.4% |
| Land and buildings | 22 | €148,929 | €141,452 | -€7,478 | -5.0% |
| Plant, machinery and equipment | 23 | €210 | €0 | -€210 | -100% |
| Furniture and vehicles | 24 | €1,608 | €16,137 | +€14,528 | +903% |
| Other tangible fixed assets | 26 | €4,314 | €4,314 | = | 0.0% |
| Financial fixed assets | 28 | €3,573 | €3,573 | = | 0.0% |
| Current assets | 29/58 | €44,564 | €40,173 | -€4,392 | -9.9% |
| Stocks and contracts in progress | 3 | €22,234 | €21,477 | -€757 | -3.4% |
| Stocks | 30/36 | €22,234 | €21,477 | -€757 | -3.4% |
| Amounts receivable within one year | 40/41 | €27 | €56 | +€28 | +104% |
| Trade receivables | 40 | €0 | €0 | = | |
| Other amounts receivable | 41 | €27 | €56 | +€28 | +104% |
| Cash at bank and in hand | 54/58 | €21,681 | €16,924 | -€4,758 | -21.9% |
| Deferred charges and accrued income | 490/1 | €622 | €1,717 | +€1,095 | +176% |
| Total equity and liabilities | 10/49 | €218,388 | €220,838 | +€2,449 | +1.1% |
| Equity | 10/15 | €123,080 | €151,247 | +€28,167 | +22.9% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €2,479 | €2,479 | = | 0.0% |
| Distributable reserves | 133 | €2,479 | €2,479 | = | 0.0% |
| Profit (loss) carried forward | 14 | €95,811 | €123,979 | +€28,167 | +29.4% |
| Amounts payable | 17/49 | €95,309 | €69,591 | -€25,718 | -27.0% |
| Amounts payable after more than one year | 17 | €0 | €14,517 | +€14,517 | |
| Financial debts | 170/4 | €0 | €14,517 | +€14,517 | |
| Amounts payable within one year | 42/48 | €95,309 | €55,074 | -€40,235 | -42.2% |
| Current portion of amounts payable after more than one year | 42 | €26,354 | €5,316 | -€21,038 | -79.8% |
| Financial debts | 43 | €153 | €52 | -€101 | -65.9% |
| Credit institutions | 430/8 | €153 | €52 | -€101 | -65.9% |
| Trade debts | 44 | €28,286 | €24,694 | -€3,592 | -12.7% |
| Suppliers | 440/4 | €28,286 | €24,694 | -€3,592 | -12.7% |
| Taxes, remuneration and social security | 45 | €38,280 | €24,191 | -€14,089 | -36.8% |
| Taxes | 450/3 | €32,629 | €21,908 | -€10,721 | -32.9% |
| Remuneration and social security | 454/9 | €5,651 | €2,283 | -€3,369 | -59.6% |
| Other amounts payable | 47/48 | €2,236 | €821 | -€1,414 | -63.3% |
| Remuneration, social security and pensions | 62 | €55,867 | €53,005 | -€2,861 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,308 | €11,153 | +€845 | +8.2% |
| Other operating charges | 640/8 | €539 | €124 | -€415 | -77.0% |
| Gross operating margin | 9900 | €103,343 | €104,566 | +€1,223 | +1.2% |
| Operating profit (loss) | 9901 | €36,629 | €40,283 | +€3,654 | +10.0% |
| Financial charges | 65/66B | €2,638 | €1,289 | -€1,348 | -51.1% |
| Recurring financial charges | 65 | €2,638 | €1,289 | -€1,348 | -51.1% |
| Profit (loss) for the period before taxes | 9903 | €33,992 | €38,994 | +€5,002 | +14.7% |
| Income taxes | 67/77 | €9,752 | €10,827 | +€1,075 | +11.0% |
| Profit (loss) for the period | 9904 | €24,240 | €28,167 | +€3,927 | +16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €24,240 | €28,167 | +€3,927 | +16.2% |
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 18 October 2026 via checked.be.