H PARTNERS GROUP: 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.
What changed
H PARTNERS GROUP
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€833,867
2024 · €382,805+€451,062
Equity
-€79.8m
2024 · -€80.6m+€833,867
Cash
€0
2024 · €212,106-€212,106
Balance sheet total
€117.4m
2024 · €99.7m+€17.8m
Largest movements
Assets
- Receivables within one year +€18.0m
up €18.0m (+21.3%), from €84.5m to €102.4m
of which Other amounts receivable: +€18.0m
Equity and liabilities
- Debts after one year +€16.8m
up €16.8m (+9.9%), from €169.3m to €186.1m
Income statement
No income-statement line moved by more than 1% of the activity.
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.
Result 2024
€382,805
Provisions
+€133,822
Other operating charges
-€72
Other operating items
+€11,527
Financial income
+€538,151
Financial charges
-€232,365
Result 2025
€833,867
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€17.0m
Investment
€0
Financing
+€16.8m
Cash 2024
€212,106
From operations (derived)
-€17.0m
Net result for the year
+€833,867
Receivables within one year
-€18.0m
Provisions
+€141,371
Trade debts
-€968
Financing
+€16.8m
Debts after one year
+€16.8m
Cash 2025
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €99,665,393 | €117,443,877 | +€17.8m | +17.8% |
| Fixed assets | 21/28 | €15,000,000 | €15,000,000 | = | 0.0% |
| Financial fixed assets | 28 | €15,000,000 | €15,000,000 | = | 0.0% |
| Affiliated companies | 280/1 | €15,000,000 | €15,000,000 | = | 0.0% |
| Participating interests | 280 | €15,000,000 | €15,000,000 | = | 0.0% |
| Current assets | 29/58 | €84,665,393 | €102,443,877 | +€17.8m | +21.0% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €84,453,286 | €102,443,877 | +€18.0m | +21.3% |
| Trade receivables | 40 | €197 | €197 | = | 0.0% |
| Other amounts receivable | 41 | €84,453,090 | €102,443,680 | +€18.0m | +21.3% |
| Cash at bank and in hand | 54/58 | €212,106 | €0 | -€212,106 | -100% |
| Total equity and liabilities | 10/49 | €99,665,393 | €117,443,877 | +€17.8m | +17.8% |
| Equity | 10/15 | -€80,620,198 | -€79,786,331 | +€833,867 | +1.0% |
| Contributions | 10/11 | €157,547,700 | €157,547,700 | = | 0.0% |
| Capital | 10 | €157,547,700 | €157,547,700 | = | 0.0% |
| Issued capital | 100 | €157,547,700 | €157,547,700 | = | 0.0% |
| Reserves | 13 | €315 | €315 | = | 0.0% |
| Non-distributable reserves | 130/1 | €315 | €315 | = | 0.0% |
| Legal reserve | 130 | €315 | €315 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€238,168,213 | -€237,334,346 | +€833,867 | +0.4% |
| Provisions and deferred taxes | 16 | €11,025,321 | €11,166,692 | +€141,371 | +1.3% |
| Provisions for liabilities and charges | 160/5 | €11,025,321 | €11,166,692 | +€141,371 | +1.3% |
| Other liabilities and charges | 164/5 | €11,025,321 | €11,166,692 | +€141,371 | +1.3% |
| Amounts payable | 17/49 | €169,260,270 | €186,063,515 | +€16.8m | +9.9% |
| Amounts payable after more than one year | 17 | €169,259,043 | €186,063,256 | +€16.8m | +9.9% |
| Other amounts payable | 178/9 | €169,259,043 | €186,063,256 | +€16.8m | +9.9% |
| Amounts payable within one year | 42/48 | €1,227 | €259 | -€968 | -78.9% |
| Trade debts | 44 | €1,227 | €259 | -€968 | -78.9% |
| Suppliers | 440/4 | €1,227 | €259 | -€968 | -78.9% |
| Operating charges | 60/66A | €295,644 | €150,368 | -€145,276 | -49.1% |
| Services and other goods | 61 | €19,484 | €7,957 | -€11,527 | -59.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €275,193 | €141,371 | -€133,822 | -48.6% |
| Other operating charges | 640/8 | €968 | €1,040 | +€72 | +7.5% |
| Operating profit (loss) | 9901 | -€295,644 | -€150,368 | +€145,276 | +49.1% |
| Financial income | 75/76B | €1,592,147 | €2,130,298 | +€538,151 | +33.8% |
| Recurring financial income | 75 | €1,592,147 | €2,130,298 | +€538,151 | +33.8% |
| Income from financial fixed assets | 750 | €640,171 | €653,803 | +€13,632 | +2.1% |
| Income from current assets | 751 | €951,976 | €1,476,495 | +€524,519 | +55.1% |
| Financial charges | 65/66B | €913,698 | €1,146,062 | +€232,365 | +25.4% |
| Recurring financial charges | 65 | €913,698 | €1,146,062 | +€232,365 | +25.4% |
| Debt charges | 650 | €776,053 | €904,213 | +€128,160 | +16.5% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €137,419 | €241,658 | +€104,239 | +75.9% |
| Other financial charges | 652/9 | €226 | €192 | -€34 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €382,805 | €833,867 | +€451,062 | +118% |
| Profit (loss) for the period | 9904 | €382,805 | €833,867 | +€451,062 | +118% |
| Profit (loss) for the period to be appropriated | 9905 | €382,805 | €833,867 | +€451,062 | +118% |
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 23 October 2026 via checked.be.