HAP ELAN: 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.
HAP ELAN
Largest movements
- Tangible fixed assets -€36,613
down €36,613 (-3.2%), from €1.2m to €1.1m
of which Land and buildings: -€36,353
- Debts after one year -€85,857
down €85,857 (-7.5%), from €1.1m to €1.1m
- Profit (loss) carried forward +€24,447
no longer reported in 2025 (was -€24,447)
- Reserves +€13,523
new in 2025: €13,523
- Taxes +€4,508
new in 2025: €4,508
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 | €1,175,548 | €1,132,725 | -€42,824 | -3.6% |
| Fixed assets | 21/28 | €1,161,116 | €1,124,503 | -€36,613 | -3.2% |
| Tangible fixed assets | 22/27 | €1,161,116 | €1,124,503 | -€36,613 | -3.2% |
| Land and buildings | 22 | €1,160,387 | €1,124,034 | -€36,353 | -3.1% |
| Furniture and vehicles | 24 | €729 | €469 | -€260 | -35.6% |
| Current assets | 29/58 | €14,433 | €8,222 | -€6,211 | -43.0% |
| Amounts receivable within one year | 40/41 | €10,960 | - | -€10,960 | |
| Other amounts receivable | 41 | €10,960 | - | -€10,960 | |
| Cash at bank and in hand | 54/58 | €3,473 | €7,303 | +€3,830 | +110.3% |
| Deferred charges and accrued income | 490/1 | - | €919 | +€919 | |
| Total equity and liabilities | 10/49 | €1,175,548 | €1,132,725 | -€42,824 | -3.6% |
| Equity | 10/15 | -€18,447 | €19,523 | +€37,970 | |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | - | €13,523 | +€13,523 | |
| Distributable reserves | 133 | - | €13,523 | +€13,523 | |
| Profit (loss) carried forward | 14 | -€24,447 | - | +€24,447 | |
| Amounts payable | 17/49 | €1,193,995 | €1,113,201 | -€80,794 | -6.8% |
| Amounts payable after more than one year | 17 | €1,142,135 | €1,056,279 | -€85,857 | -7.5% |
| Financial debts | 170/4 | €1,142,135 | €1,056,279 | -€85,857 | -7.5% |
| Amounts payable within one year | 42/48 | €51,860 | €56,003 | +€4,143 | +8.0% |
| Current portion of amounts payable after more than one year | 42 | €47,571 | €47,857 | +€285 | +0.6% |
| Trade debts | 44 | €1,585 | €3,733 | +€2,148 | +135.6% |
| Suppliers | 440/4 | €1,585 | €3,733 | +€2,148 | +135.6% |
| Taxes, remuneration and social security | 45 | - | €402 | +€402 | |
| Taxes | 450/3 | - | €402 | +€402 | |
| Other amounts payable | 47/48 | €2,704 | €4,011 | +€1,308 | +48.4% |
| Accrued charges and deferred income | 492/3 | - | €920 | +€920 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,900 | €36,613 | -€287 | -0.8% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | €88,750 | €89,021 | +€271 | +0.3% |
| Operating profit (loss) | 9901 | €50,883 | €51,409 | +€526 | +1.0% |
| Financial charges | 65/66B | €9,070 | €8,931 | -€139 | -1.5% |
| Recurring financial charges | 65 | €9,070 | €8,931 | -€139 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €41,813 | €42,478 | +€665 | +1.6% |
| Income taxes | 67/77 | - | €4,508 | +€4,508 | |
| Profit (loss) for the period | 9904 | €41,813 | €37,970 | -€3,843 | -9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €41,813 | €37,970 | -€3,843 | -9.2% |
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 29 September 2026 via checked.be.