H.P.S.: 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.S.
Largest movements
- Stocks and contracts +€28,930
up €28,930 (+19.6%), from €147,890 to €176,820
- Cash +€10,812
up €10,812 (+62.5%), from €17,298 to €28,109
mainly Other debts (+€23,021) and Tax, wage and social debts (+€11,008)
- Receivables within one year -€6,022
down €6,022 (-19.3%), from €31,149 to €25,128
of which Trade receivables: -€5,488
- Other debts +€23,021
up €23,021 (+14.0%), from €164,245 to €187,267
- Tax, wage and social debts +€11,008
up €11,008 (+33.6%), from €32,765 to €43,773
of which Remuneration and social security: +€8,364
- Staff costs -€15,741
down €15,741 (-77.0%), from €20,453 to €4,712
- Gross operating margin -€15,503
down €15,503 (-31.7%), from €48,843 to €33,340
- Other operating charges +€10,195
up €10,195 (+316%), from €3,229 to €13,423
- Financial charges +€3,721
up €3,721 (+39.7%), from €9,376 to €13,097
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 | €198,637 | €233,543 | +€34,906 | +17.6% |
| Fixed assets | 21/28 | €2,300 | €3,486 | +€1,186 | +51.6% |
| Tangible fixed assets | 22/27 | €2,225 | €1,940 | -€285 | -12.8% |
| Land and buildings | 22 | €2,225 | €1,940 | -€285 | -12.8% |
| Financial fixed assets | 28 | €75 | €1,546 | +€1,471 | +1,961% |
| Current assets | 29/58 | €196,337 | €230,057 | +€33,720 | +17.2% |
| Stocks and contracts in progress | 3 | €147,890 | €176,820 | +€28,930 | +19.6% |
| Stocks | 30/36 | €147,890 | €176,820 | +€28,930 | +19.6% |
| Amounts receivable within one year | 40/41 | €31,149 | €25,128 | -€6,022 | -19.3% |
| Trade receivables | 40 | €9,499 | €4,011 | -€5,488 | -57.8% |
| Other amounts receivable | 41 | €21,650 | €21,117 | -€533 | -2.5% |
| Cash at bank and in hand | 54/58 | €17,298 | €28,109 | +€10,812 | +62.5% |
| Total equity and liabilities | 10/49 | €198,637 | €233,543 | +€34,906 | +17.6% |
| Equity | 10/15 | -€45,771 | -€43,936 | +€1,835 | +4.0% |
| Contributions | 10/11 | €12,200 | €12,200 | = | 0.0% |
| Reserves | 13 | €1,775 | €1,775 | = | 0.0% |
| Distributable reserves | 133 | €1,775 | €1,775 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,747 | -€57,912 | +€1,835 | +3.1% |
| Amounts payable | 17/49 | €244,409 | €277,479 | +€33,070 | +13.5% |
| Amounts payable within one year | 42/48 | €244,409 | €277,479 | +€33,070 | +13.5% |
| Financial debts | 43 | €8,312 | €8,787 | +€475 | +5.7% |
| Credit institutions | 430/8 | €8,312 | €8,787 | +€475 | +5.7% |
| Trade debts | 44 | €39,087 | €37,653 | -€1,434 | -3.7% |
| Suppliers | 440/4 | €39,087 | €37,653 | -€1,434 | -3.7% |
| Taxes, remuneration and social security | 45 | €32,765 | €43,773 | +€11,008 | +33.6% |
| Taxes | 450/3 | €518 | €3,163 | +€2,645 | +510% |
| Remuneration and social security | 454/9 | €32,246 | €40,610 | +€8,364 | +25.9% |
| Other amounts payable | 47/48 | €164,245 | €187,267 | +€23,021 | +14.0% |
| Remuneration, social security and pensions | 62 | €20,453 | €4,712 | -€15,741 | -77.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €285 | €285 | = | 0.0% |
| Other operating charges | 640/8 | €3,229 | €13,423 | +€10,195 | +316% |
| Gross operating margin | 9900 | €48,843 | €33,340 | -€15,503 | -31.7% |
| Operating profit (loss) | 9901 | €24,877 | €14,920 | -€9,957 | -40.0% |
| Financial income | 75/76B | €13 | €13 | -€0 | -1.4% |
| Recurring financial income | 75 | €13 | €13 | -€0 | -1.4% |
| Financial charges | 65/66B | €9,376 | €13,097 | +€3,721 | +39.7% |
| Recurring financial charges | 65 | €9,376 | €13,097 | +€3,721 | +39.7% |
| Profit (loss) for the period before taxes | 9903 | €15,514 | €1,835 | -€13,679 | -88.2% |
| Profit (loss) for the period | 9904 | €15,514 | €1,835 | -€13,679 | -88.2% |
| Profit (loss) for the period to be appropriated | 9905 | €15,514 | €1,835 | -€13,679 | -88.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.