HALPHA: 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.
HALPHA
Largest movements
- Tangible fixed assets -€14,330
down €14,330 (-18.9%), from €75,862 to €61,532
- Cash -€3,538
down €3,538 (-20.5%), from €17,277 to €13,739
mainly Debts after one year (-€7,223) and Net result for the year (-€6,014)
- Receivables within one year +€1,069
up €1,069 (+14.2%), from €7,526 to €8,595
of which Other amounts receivable: +€1,069
- Debts after one year -€7,223
down €7,223 (-32.9%), from €21,967 to €14,743
- Profit (loss) carried forward -€6,435
down €6,435, from €2,774 to -€3,661
- Accrued charges and deferred income -€4,000
down €4,000 (-25.0%), from €16,000 to €12,000
- Gross operating margin -€8,325
down €8,325 (-34.0%), from €24,452 to €16,127
- Staff costs -€2,733
down €2,733 (-100.0%), from €2,733 to €0
- Financial charges -€491
down €491 (-36.1%), from €1,360 to €869
- Depreciation +€346
up €346 (+2.5%), from €13,984 to €14,330
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 | €102,123 | €84,337 | -€17,787 | -17.4% |
| Fixed assets | 21/28 | €75,862 | €61,532 | -€14,330 | -18.9% |
| Tangible fixed assets | 22/27 | €75,862 | €61,532 | -€14,330 | -18.9% |
| Land and buildings | 22 | €75,862 | €61,532 | -€14,330 | -18.9% |
| Current assets | 29/58 | €26,262 | €22,805 | -€3,457 | -13.2% |
| Stocks and contracts in progress | 3 | €455 | €0 | -€455 | -100.0% |
| Stocks | 30/36 | €455 | €0 | -€455 | -100.0% |
| Amounts receivable within one year | 40/41 | €7,526 | €8,595 | +€1,069 | +14.2% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €7,526 | €8,595 | +€1,069 | +14.2% |
| Cash at bank and in hand | 54/58 | €17,277 | €13,739 | -€3,538 | -20.5% |
| Deferred charges and accrued income | 490/1 | €1,003 | €471 | -€533 | -53.1% |
| Total equity and liabilities | 10/49 | €102,123 | €84,337 | -€17,787 | -17.4% |
| Equity | 10/15 | €55,549 | €49,114 | -€6,435 | -11.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €46,575 | €46,575 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €44,715 | €44,715 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,774 | -€3,661 | -€6,435 | |
| Amounts payable | 17/49 | €46,574 | €35,223 | -€11,352 | -24.4% |
| Amounts payable after more than one year | 17 | €21,967 | €14,743 | -€7,223 | -32.9% |
| Financial debts | 170/4 | €21,967 | €14,743 | -€7,223 | -32.9% |
| Amounts payable within one year | 42/48 | €8,608 | €8,479 | -€128 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €7,007 | €7,223 | +€217 | +3.1% |
| Trade debts | 44 | €1,101 | €1,256 | +€155 | +14.1% |
| Suppliers | 440/4 | €1,101 | €1,256 | +€155 | +14.1% |
| Taxes, remuneration and social security | 45 | €500 | €0 | -€500 | -100.0% |
| Taxes | 450/3 | €500 | €0 | -€500 | -100.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €16,000 | €12,000 | -€4,000 | -25.0% |
| Remuneration, social security and pensions | 62 | €2,733 | €0 | -€2,733 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,984 | €14,330 | +€346 | +2.5% |
| Other operating charges | 640/8 | €7,370 | €7,352 | -€18 | -0.2% |
| Gross operating margin | 9900 | €24,452 | €16,127 | -€8,325 | -34.0% |
| Operating profit (loss) | 9901 | €366 | -€5,555 | -€5,920 | |
| Financial income | 75/76B | €620 | €410 | -€210 | -33.9% |
| Recurring financial income | 75 | €620 | €410 | -€210 | -33.9% |
| Financial charges | 65/66B | €1,360 | €869 | -€491 | -36.1% |
| Recurring financial charges | 65 | €1,360 | €869 | -€491 | -36.1% |
| Profit (loss) for the period before taxes | 9903 | -€374 | -€6,014 | -€5,640 | -1507.6% |
| Profit (loss) for the period | 9904 | -€374 | -€6,014 | -€5,640 | -1507.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€374 | -€6,014 | -€5,640 | -1507.6% |
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 8 October 2026 via checked.be.