A.H.P.E.: 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.
A.H.P.E.
Largest movements
- Tangible fixed assets -€30,399
down €30,399 (-3.5%), from €862,442 to €832,043
of which Land and buildings: -€34,498
- Profit (loss) carried forward -€41,765
down €41,765 (-173%), from -€24,100 to -€65,864
- Debts after one year -€35,147
down €35,147 (-14.0%), from €251,134 to €215,988
- Other debts +€28,486
up €28,486 (+36.6%), from €77,843 to €106,328
- Gross operating margin -€20,378
down €20,378 (-93.9%), from €21,699 to €1,321
- Depreciation -€3,929
down €3,929 (-9.7%), from €40,498 to €36,570
- Other operating charges -€597
down €597 (-26.2%), from €2,277 to €1,680
- Financial charges -€385
down €385 (-8.8%), from €4,370 to €3,985
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 | €914,367 | €868,216 | -€46,151 | -5.0% |
| Fixed assets | 21/28 | €862,442 | €832,043 | -€30,399 | -3.5% |
| Tangible fixed assets | 22/27 | €862,442 | €832,043 | -€30,399 | -3.5% |
| Land and buildings | 22 | €860,996 | €826,498 | -€34,498 | -4.0% |
| Plant, machinery and equipment | 23 | €1,446 | €5,545 | +€4,100 | +284% |
| Current assets | 29/58 | €51,925 | €36,173 | -€15,752 | -30.3% |
| Amounts receivable within one year | 40/41 | €41,615 | €33,455 | -€8,160 | -19.6% |
| Trade receivables | 40 | €41,615 | €33,455 | -€8,160 | -19.6% |
| Cash at bank and in hand | 54/58 | €9,420 | €2,144 | -€7,276 | -77.2% |
| Deferred charges and accrued income | 490/1 | €890 | €574 | -€317 | -35.6% |
| Total equity and liabilities | 10/49 | €914,367 | €868,216 | -€46,151 | -5.0% |
| Equity | 10/15 | €547,628 | €505,864 | -€41,765 | -7.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €559,328 | €559,328 | = | 0.0% |
| Non-distributable reserves | 130/1 | €532,304 | €532,304 | = | 0.0% |
| Reserves not available under the articles | 1311 | €532,304 | €532,304 | = | 0.0% |
| Distributable reserves | 133 | €27,024 | €27,024 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,100 | -€65,864 | -€41,765 | -173% |
| Amounts payable | 17/49 | €366,739 | €362,353 | -€4,387 | -1.2% |
| Amounts payable after more than one year | 17 | €251,134 | €215,988 | -€35,147 | -14.0% |
| Financial debts | 170/4 | €251,134 | €215,988 | -€35,147 | -14.0% |
| Amounts payable within one year | 42/48 | €115,605 | €146,365 | +€30,760 | +26.6% |
| Current portion of amounts payable after more than one year | 42 | €34,785 | €35,147 | +€362 | +1.0% |
| Trade debts | 44 | €2,137 | €3,198 | +€1,061 | +49.7% |
| Suppliers | 440/4 | €2,137 | €3,198 | +€1,061 | +49.7% |
| Taxes, remuneration and social security | 45 | €841 | €1,692 | +€851 | +101% |
| Taxes | 450/3 | €841 | €1,692 | +€851 | +101% |
| Other amounts payable | 47/48 | €77,843 | €106,328 | +€28,486 | +36.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,498 | €36,570 | -€3,929 | -9.7% |
| Other operating charges | 640/8 | €2,277 | €1,680 | -€597 | -26.2% |
| Gross operating margin | 9900 | €21,699 | €1,321 | -€20,378 | -93.9% |
| Operating profit (loss) | 9901 | -€21,077 | -€36,929 | -€15,852 | -75.2% |
| Financial charges | 65/66B | €4,370 | €3,985 | -€385 | -8.8% |
| Recurring financial charges | 65 | €4,370 | €3,985 | -€385 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | -€25,447 | -€40,913 | -€15,467 | -60.8% |
| Income taxes | 67/77 | €841 | €851 | +€10 | +1.2% |
| Profit (loss) for the period | 9904 | -€26,287 | -€41,765 | -€15,477 | -58.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,287 | -€41,765 | -€15,477 | -58.9% |
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 15 October 2026 via checked.be.