H.P. - MANAGEMENT: 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.
H.P. - MANAGEMENT
Largest movements
- Cash -€108,028
down €108,028 (-42.0%), from €257,136 to €149,108
mainly Other debts (-€200,000) and Accrued charges and deferred income (-€16,331)
- Receivables within one year -€16,910
down €16,910 (-83.1%), from €20,346 to €3,435
of which Trade receivables: -€19,846
- Other debts -€200,000
no longer reported in 2025 (was €200,000)
- Profit (loss) carried forward +€95,278
up €95,278 (+76.8%), from €123,999 to €219,277
- Accrued charges and deferred income -€16,331
no longer reported in 2025 (was €16,331)
- Tax, wage and social debts -€9,554
no longer reported in 2025 (was €9,554)
- Trade debts +€5,669
up €5,669 (+6,662%), from €85 to €5,754
- Gross operating margin -€45,607
down €45,607 (-25.6%), from €178,354 to €132,747
- Turnover -€43,745
down €43,745 (-22.4%), from €194,952 to €151,207
- Taxes -€13,577
down €13,577 (-30.1%), from €45,169 to €31,592
- Other operating charges +€5,023
up €5,023 (+773%), from €650 to €5,673
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 | €498,577 | €373,640 | -€124,938 | -25.1% |
| Fixed assets | 21/28 | €221,096 | €221,096 | = | 0.0% |
| Tangible fixed assets | 22/27 | €221,096 | €221,096 | = | 0.0% |
| Land and buildings | 22 | €221,096 | €221,096 | = | 0.0% |
| Current assets | 29/58 | €277,481 | €152,543 | -€124,938 | -45.0% |
| Amounts receivable within one year | 40/41 | €20,346 | €3,435 | -€16,910 | -83.1% |
| Trade receivables | 40 | €19,846 | - | -€19,846 | |
| Other amounts receivable | 41 | €500 | €3,435 | +€2,935 | +587% |
| Cash at bank and in hand | 54/58 | €257,136 | €149,108 | -€108,028 | -42.0% |
| Total equity and liabilities | 10/49 | €498,577 | €373,640 | -€124,938 | -25.1% |
| Equity | 10/15 | €272,608 | €367,885 | +€95,278 | +35.0% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €23,609 | €23,609 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Distributable reserves | 133 | €11,109 | €11,109 | = | 0.0% |
| Profit (loss) carried forward | 14 | €123,999 | €219,277 | +€95,278 | +76.8% |
| Amounts payable | 17/49 | €225,970 | €5,754 | -€220,215 | -97.5% |
| Amounts payable within one year | 42/48 | €209,639 | €5,754 | -€203,884 | -97.3% |
| Trade debts | 44 | €85 | €5,754 | +€5,669 | +6,662% |
| Suppliers | 440/4 | €85 | €5,754 | +€5,669 | +6,662% |
| Taxes, remuneration and social security | 45 | €9,554 | - | -€9,554 | |
| Taxes | 450/3 | €9,554 | - | -€9,554 | |
| Other amounts payable | 47/48 | €200,000 | - | -€200,000 | |
| Accrued charges and deferred income | 492/3 | €16,331 | - | -€16,331 | |
| Turnover | 70 | €194,952 | €151,207 | -€43,745 | -22.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €36,718 | €35,499 | -€1,219 | -3.3% |
| Other operating charges | 640/8 | €650 | €5,673 | +€5,023 | +773% |
| Gross operating margin | 9900 | €178,354 | €132,747 | -€45,607 | -25.6% |
| Operating profit (loss) | 9901 | €177,704 | €127,074 | -€50,631 | -28.5% |
| Financial charges | 65/66B | €204 | €204 | +€0 | +0.2% |
| Recurring financial charges | 65 | €204 | €204 | +€0 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €177,501 | €126,870 | -€50,631 | -28.5% |
| Income taxes | 67/77 | €45,169 | €31,592 | -€13,577 | -30.1% |
| Profit (loss) for the period | 9904 | €132,332 | €95,278 | -€37,054 | -28.0% |
| Profit (loss) for the period to be appropriated | 9905 | €132,332 | €95,278 | -€37,054 | -28.0% |
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 21 October 2026 via checked.be.