HAMAPA: 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.
HAMAPA
Largest movements
- Tangible fixed assets +€144,860
up €144,860 (+130.9%), from €110,668 to €255,528
of which Land and buildings: +€141,841
- Cash -€54,422
down €54,422 (-37.4%), from €145,628 to €91,205
mainly Investment in fixed assets (net) (-€155,373) and Trade debts (-€6,099)
- Stocks and contracts +€6,048
up €6,048 (+74.6%), from €8,103 to €14,151
- Receivables within one year +€4,387
up €4,387 (+10.5%), from €41,815 to €46,202
of which Other amounts receivable: +€14,567
- Reserves +€77,393
up €77,393 (+38.4%), from €201,459 to €278,852
- Tax, wage and social debts +€29,723
up €29,723 (+31.7%), from €93,843 to €123,566
of which Taxes: +€29,723
- Trade debts -€6,099
down €6,099 (-78.7%), from €7,749 to €1,650
- Gross operating margin -€180,095
down €180,095 (-61.2%), from €294,446 to €114,352
- Taxes -€61,790
down €61,790 (-70.2%), from €88,072 to €26,282
- Depreciation +€5,954
up €5,954 (+130.6%), from €4,558 to €10,513
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 | €306,245 | €407,701 | +€101,457 | +33.1% |
| Fixed assets | 21/28 | €110,668 | €255,528 | +€144,860 | +130.9% |
| Tangible fixed assets | 22/27 | €110,668 | €255,528 | +€144,860 | +130.9% |
| Land and buildings | 22 | €110,668 | €252,509 | +€141,841 | +128.2% |
| Furniture and vehicles | 24 | - | €3,019 | +€3,019 | |
| Current assets | 29/58 | €195,577 | €152,173 | -€43,403 | -22.2% |
| Stocks and contracts in progress | 3 | €8,103 | €14,151 | +€6,048 | +74.6% |
| Stocks | 30/36 | €8,103 | €14,151 | +€6,048 | +74.6% |
| Amounts receivable within one year | 40/41 | €41,815 | €46,202 | +€4,387 | +10.5% |
| Trade receivables | 40 | €25,216 | €15,036 | -€10,180 | -40.4% |
| Other amounts receivable | 41 | €16,599 | €31,167 | +€14,567 | +87.8% |
| Cash at bank and in hand | 54/58 | €145,628 | €91,205 | -€54,422 | -37.4% |
| Deferred charges and accrued income | 490/1 | €31 | €615 | +€584 | +1890.9% |
| Total equity and liabilities | 10/49 | €306,245 | €407,701 | +€101,457 | +33.1% |
| Equity | 10/15 | €204,459 | €281,852 | +€77,393 | +37.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €201,459 | €278,852 | +€77,393 | +38.4% |
| Distributable reserves | 133 | €201,459 | €278,852 | +€77,393 | +38.4% |
| Amounts payable | 17/49 | €101,786 | €125,850 | +€24,064 | +23.6% |
| Amounts payable within one year | 42/48 | €101,592 | €125,421 | +€23,829 | +23.5% |
| Trade debts | 44 | €7,749 | €1,650 | -€6,099 | -78.7% |
| Suppliers | 440/4 | €7,749 | €1,650 | -€6,099 | -78.7% |
| Advances received on contracts in progress | 46 | - | €205 | +€205 | |
| Taxes, remuneration and social security | 45 | €93,843 | €123,566 | +€29,723 | +31.7% |
| Taxes | 450/3 | €91,843 | €121,566 | +€29,723 | +32.4% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €194 | €428 | +€235 | +121.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,558 | €10,513 | +€5,954 | +130.6% |
| Other operating charges | 640/8 | €965 | €1,210 | +€245 | +25.4% |
| Gross operating margin | 9900 | €294,446 | €114,352 | -€180,095 | -61.2% |
| Operating profit (loss) | 9901 | €288,923 | €102,629 | -€186,294 | -64.5% |
| Financial income | 75/76B | €652 | €1,343 | +€691 | +106.0% |
| Recurring financial income | 75 | €652 | €1,343 | +€691 | +106.0% |
| Financial charges | 65/66B | €44 | €297 | +€253 | +570.6% |
| Recurring financial charges | 65 | €44 | €297 | +€253 | +570.6% |
| Profit (loss) for the period before taxes | 9903 | €289,531 | €103,674 | -€185,856 | -64.2% |
| Income taxes | 67/77 | €88,072 | €26,282 | -€61,790 | -70.2% |
| Profit (loss) for the period | 9904 | €201,459 | €77,393 | -€124,066 | -61.6% |
| Profit (loss) for the period to be appropriated | 9905 | €201,459 | €77,393 | -€124,066 | -61.6% |
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 12 October 2026 via checked.be.