HARS: 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.
HARS
Largest movements
- Cash -€17,164
down €17,164 (-52.3%), from €32,831 to €15,667
mainly Net result for the year (-€17,135) and Receivables within one year (-€14,049)
- Receivables within one year +€14,049
up €14,049 (+21.1%), from €66,480 to €80,529
of which Trade receivables: +€12,134
- Tangible fixed assets -€6,335
down €6,335 (-4.5%), from €141,508 to €135,173
of which Land and buildings: -€5,717
- Reserves -€17,135
down €17,135 (-28.9%), from €59,299 to €42,164
- Debts after one year -€13,126
down €13,126 (-11.0%), from €119,225 to €106,100
- Tax, wage and social debts +€11,276
up €11,276 (+221%), from €5,101 to €16,377
of which Taxes: +€8,743
- Current portion of long-term debt +€9,181
up €9,181 (+72.4%), from €12,675 to €21,856
- Trade debts +€3,402
up €3,402 (+13.8%), from €24,720 to €28,122
- Gross operating margin -€16,758
down €16,758 (-12.8%), from €131,136 to €114,378
- Other operating charges -€15,729
down €15,729 (-93.8%), from €16,775 to €1,045
- Staff costs +€14,908
up €14,908 (+14.9%), from €100,286 to €115,194
- Depreciation +€6,951
up €6,951 (+237%), from €2,927 to €9,877
- Financial charges +€1,750
up €1,750 (+39.2%), from €4,467 to €6,217
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 | €240,820 | €233,695 | -€7,125 | -3.0% |
| Fixed assets | 21/28 | €141,508 | €135,173 | -€6,335 | -4.5% |
| Tangible fixed assets | 22/27 | €141,508 | €135,173 | -€6,335 | -4.5% |
| Land and buildings | 22 | €120,476 | €114,759 | -€5,717 | -4.7% |
| Plant, machinery and equipment | 23 | €12,474 | €11,732 | -€741 | -5.9% |
| Furniture and vehicles | 24 | €8,559 | €8,682 | +€123 | +1.4% |
| Current assets | 29/58 | €99,312 | €98,522 | -€790 | -0.8% |
| Amounts receivable within one year | 40/41 | €66,480 | €80,529 | +€14,049 | +21.1% |
| Trade receivables | 40 | €45,093 | €57,227 | +€12,134 | +26.9% |
| Other amounts receivable | 41 | €21,387 | €23,302 | +€1,915 | +9.0% |
| Cash at bank and in hand | 54/58 | €32,831 | €15,667 | -€17,164 | -52.3% |
| Deferred charges and accrued income | 490/1 | - | €2,326 | +€2,326 | |
| Total equity and liabilities | 10/49 | €240,820 | €233,695 | -€7,125 | -3.0% |
| Equity | 10/15 | €77,899 | €60,764 | -€17,135 | -22.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €59,299 | €42,164 | -€17,135 | -28.9% |
| Distributable reserves | 133 | €59,299 | €42,164 | -€17,135 | -28.9% |
| Amounts payable | 17/49 | €162,921 | €172,931 | +€10,010 | +6.1% |
| Amounts payable after more than one year | 17 | €119,225 | €106,100 | -€13,126 | -11.0% |
| Financial debts | 170/4 | €119,225 | €106,100 | -€13,126 | -11.0% |
| Amounts payable within one year | 42/48 | €43,696 | €66,355 | +€22,660 | +51.9% |
| Current portion of amounts payable after more than one year | 42 | €12,675 | €21,856 | +€9,181 | +72.4% |
| Trade debts | 44 | €24,720 | €28,122 | +€3,402 | +13.8% |
| Suppliers | 440/4 | €24,720 | €28,122 | +€3,402 | +13.8% |
| Taxes, remuneration and social security | 45 | €5,101 | €16,377 | +€11,276 | +221% |
| Taxes | 450/3 | €451 | €9,194 | +€8,743 | +1,938% |
| Remuneration and social security | 454/9 | €4,650 | €7,184 | +€2,534 | +54.5% |
| Other amounts payable | 47/48 | €1,200 | - | -€1,200 | |
| Accrued charges and deferred income | 492/3 | - | €476 | +€476 | |
| Remuneration, social security and pensions | 62 | €100,286 | €115,194 | +€14,908 | +14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,927 | €9,877 | +€6,951 | +237% |
| Other operating charges | 640/8 | €16,775 | €1,045 | -€15,729 | -93.8% |
| Gross operating margin | 9900 | €131,136 | €114,378 | -€16,758 | -12.8% |
| Operating profit (loss) | 9901 | €11,148 | -€11,738 | -€22,886 | |
| Financial income | 75/76B | €3 | €1,025 | +€1,022 | +34,056% |
| Recurring financial income | 75 | €3 | €1,025 | +€1,022 | +34,056% |
| Financial charges | 65/66B | €4,467 | €6,217 | +€1,750 | +39.2% |
| Recurring financial charges | 65 | €4,467 | €6,217 | +€1,750 | +39.2% |
| Profit (loss) for the period before taxes | 9903 | €6,684 | -€16,931 | -€23,615 | |
| Income taxes | 67/77 | €201 | €204 | +€4 | +1.8% |
| Profit (loss) for the period | 9904 | €6,484 | -€17,135 | -€23,619 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,484 | -€17,135 | -€23,619 |
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 27 October 2026 via checked.be.