DR. HPS: 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.
DR. HPS
Largest movements
- Cash +€45,840
up €45,840 (+86.6%), from €52,909 to €98,750
mainly Net result for the year (+€53,044) and Depreciation (+€8,173)
- Receivables within one year +€12,638
up €12,638 (+47.1%), from €26,857 to €39,495
of which Other amounts receivable: +€13,315
- Tangible fixed assets -€8,173
down €8,173 (-21.0%), from €38,958 to €30,785
- Reserves +€53,044
up €53,044 (+68.3%), from €77,695 to €130,739
- Debts after one year -€5,104
down €5,104 (-14.6%), from €35,000 to €29,896
- Tax, wage and social debts +€4,896
new in 2025: €4,896
of which Taxes: +€2,644
- Trade debts -€3,720
down €3,720 (-84.7%), from €4,390 to €670
- Accrued charges and deferred income +€2,375
new in 2025: €2,375
- Gross operating margin +€14,874
up €14,874 (+23.8%), from €62,396 to €77,270
- Depreciation +€6,415
up €6,415 (+364.9%), from €1,758 to €8,173
- Financial charges +€2,380
up €2,380 (+5471.8%), from €44 to €2,424
- Taxes +€1,535
up €1,535 (+12.2%), from €12,630 to €14,165
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 | €120,941 | €171,575 | +€50,634 | +41.9% |
| Fixed assets | 21/28 | €38,958 | €30,785 | -€8,173 | -21.0% |
| Tangible fixed assets | 22/27 | €38,958 | €30,785 | -€8,173 | -21.0% |
| Furniture and vehicles | 24 | €38,958 | €30,785 | -€8,173 | -21.0% |
| Current assets | 29/58 | €81,983 | €140,791 | +€58,807 | +71.7% |
| Amounts receivable within one year | 40/41 | €26,857 | €39,495 | +€12,638 | +47.1% |
| Trade receivables | 40 | €677 | - | -€677 | |
| Other amounts receivable | 41 | €26,180 | €39,495 | +€13,315 | +50.9% |
| Cash at bank and in hand | 54/58 | €52,909 | €98,750 | +€45,840 | +86.6% |
| Deferred charges and accrued income | 490/1 | €2,217 | €2,546 | +€329 | +14.8% |
| Total equity and liabilities | 10/49 | €120,941 | €171,575 | +€50,634 | +41.9% |
| Equity | 10/15 | €80,695 | €133,739 | +€53,044 | +65.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €77,695 | €130,739 | +€53,044 | +68.3% |
| Distributable reserves | 133 | €77,695 | €130,739 | +€53,044 | +68.3% |
| Amounts payable | 17/49 | €40,246 | €37,837 | -€2,409 | -6.0% |
| Amounts payable after more than one year | 17 | €35,000 | €29,896 | -€5,104 | -14.6% |
| Financial debts | 170/4 | €35,000 | €29,896 | -€5,104 | -14.6% |
| Amounts payable within one year | 42/48 | €5,246 | €5,566 | +€320 | +6.1% |
| Trade debts | 44 | €4,390 | €670 | -€3,720 | -84.7% |
| Suppliers | 440/4 | €4,390 | €670 | -€3,720 | -84.7% |
| Taxes, remuneration and social security | 45 | - | €4,896 | +€4,896 | |
| Taxes | 450/3 | - | €2,644 | +€2,644 | |
| Remuneration and social security | 454/9 | - | €2,252 | +€2,252 | |
| Other amounts payable | 47/48 | €855 | - | -€855 | |
| Accrued charges and deferred income | 492/3 | - | €2,375 | +€2,375 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,758 | €8,173 | +€6,415 | +364.9% |
| Other operating charges | 640/8 | €327 | €640 | +€313 | +95.5% |
| Gross operating margin | 9900 | €62,396 | €77,270 | +€14,874 | +23.8% |
| Operating profit (loss) | 9901 | €60,311 | €68,458 | +€8,147 | +13.5% |
| Financial income | 75/76B | €453 | €1,174 | +€722 | +159.4% |
| Recurring financial income | 75 | €453 | €1,174 | +€722 | +159.4% |
| Financial charges | 65/66B | €44 | €2,424 | +€2,380 | +5471.8% |
| Recurring financial charges | 65 | €44 | €2,424 | +€2,380 | +5471.8% |
| Profit (loss) for the period before taxes | 9903 | €60,720 | €67,208 | +€6,488 | +10.7% |
| Income taxes | 67/77 | €12,630 | €14,165 | +€1,535 | +12.2% |
| Profit (loss) for the period | 9904 | €48,091 | €53,044 | +€4,953 | +10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €48,091 | €53,044 | +€4,953 | +10.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.