HAPACO - DAPA CONSTRUCT: 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
HAPACO - DAPA CONSTRUCT
NACE 43.240, Other construction installation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€317,215
2024 · €292,589+€24,627
Equity
€983,068
2024 · €967,858+€15,210
Cash
€112,444
2024 · €32,956+€79,488
Balance sheet total
€2.5m
2024 · €2.4m+€102,282
Largest movements
Assets
- Stocks and contracts +€156,859
up €156,859 (+247%), from €63,539 to €220,399
of which Stocks: +€142,359
- Receivables within one year -€109,827
down €109,827 (-5.7%), from €1.9m to €1.8m
of which Other amounts receivable: -€122,757
- Cash +€79,488
up €79,488 (+241%), from €32,956 to €112,444
mainly Net result for the year (+€317,215) and Trade debts (+€187,042)
Equity and liabilities
- Trade debts +€187,042
up €187,042 (+33.9%), from €552,198 to €739,240
- Short-term financial debts -€119,500
down €119,500 (-46.1%), from €259,499 to €139,999
- Accrued charges and deferred income -€85,808
down €85,808 (-97.4%), from €88,137 to €2,329
- Debts after one year +€62,328
up €62,328 (+40.9%), from €152,532 to €214,860
Income statement
- Gross operating margin +€182,072
up €182,072 (+12.6%), from €1.4m to €1.6m
- Staff costs +€149,598
up €149,598 (+15.6%), from €958,781 to €1.1m
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
€292,589
Gross operating margin
+€182,072
Staff costs
-€149,598
Depreciation
+€587
Other operating charges
-€2,500
Financial income
+€479
Financial charges
-€7,349
Taxes
+€936
Result 2025
€317,215
raises the resultlowers the result
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
+€475,646
Investment
-€51,693
Financing
-€344,466
Cash 2024
€32,956
From operations (derived)
+€475,646
Net result for the year
+€317,215
Depreciation
+€75,949
Stocks and contracts
-€156,859
Receivables within one year
+€109,827
Smaller working-capital items
-€310
Trade debts
+€187,042
Tax, wage and social debts
+€12,494
Other debts
+€16,096
Accrued charges and deferred income
-€85,808
Investment (derived)
-€51,693
Investment in fixed assets (net)
-€51,693
Financing
-€344,466
Debts after one year
+€62,328
Current portion of long-term debt
+€14,711
Short-term financial debts
-€119,500
Contributions, distributions and other
-€302,005
Cash 2025
€112,444
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,432,585 | €2,534,867 | +€102,282 | +4.2% |
| Fixed assets | 21/28 | €402,215 | €377,959 | -€24,256 | -6.0% |
| Tangible fixed assets | 22/27 | €400,055 | €375,799 | -€24,256 | -6.1% |
| Land and buildings | 22 | €306,126 | €292,228 | -€13,898 | -4.5% |
| Plant, machinery and equipment | 23 | €28,714 | €50,727 | +€22,014 | +76.7% |
| Furniture and vehicles | 24 | €29,786 | €13,961 | -€15,826 | -53.1% |
| Leasing and similar rights | 25 | €35,245 | €18,884 | -€16,362 | -46.4% |
| Other tangible fixed assets | 26 | €184 | - | -€184 | |
| Financial fixed assets | 28 | €2,160 | €2,160 | = | 0.0% |
| Current assets | 29/58 | €2,030,370 | €2,156,908 | +€126,538 | +6.2% |
| Stocks and contracts in progress | 3 | €63,539 | €220,399 | +€156,859 | +247% |
| Stocks | 30/36 | €59,289 | €201,649 | +€142,359 | +240% |
| Contracts in progress | 37 | €4,250 | €18,750 | +€14,500 | +341% |
| Amounts receivable within one year | 40/41 | €1,933,487 | €1,823,660 | -€109,827 | -5.7% |
| Trade receivables | 40 | €1,613,564 | €1,626,493 | +€12,929 | +0.8% |
| Other amounts receivable | 41 | €319,923 | €197,167 | -€122,757 | -38.4% |
| Cash at bank and in hand | 54/58 | €32,956 | €112,444 | +€79,488 | +241% |
| Deferred charges and accrued income | 490/1 | €387 | €406 | +€18 | +4.7% |
| Total equity and liabilities | 10/49 | €2,432,585 | €2,534,867 | +€102,282 | +4.2% |
| Equity | 10/15 | €967,858 | €983,068 | +€15,210 | +1.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €860,395 | €875,590 | +€15,195 | +1.8% |
| Distributable reserves | 133 | €860,395 | €875,590 | +€15,195 | +1.8% |
| Profit (loss) carried forward | 14 | €95,062 | €95,078 | +€15 | 0.0% |
| Amounts payable | 17/49 | €1,464,727 | €1,551,799 | +€87,072 | +5.9% |
| Amounts payable after more than one year | 17 | €152,532 | €214,860 | +€62,328 | +40.9% |
| Financial debts | 170/4 | €152,532 | €214,860 | +€62,328 | +40.9% |
| Amounts payable within one year | 42/48 | €1,224,059 | €1,334,610 | +€110,552 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €62,940 | €77,651 | +€14,711 | +23.4% |
| Financial debts | 43 | €259,499 | €139,999 | -€119,500 | -46.1% |
| Credit institutions | 430/8 | €259,499 | €139,999 | -€119,500 | -46.1% |
| Trade debts | 44 | €552,198 | €739,240 | +€187,042 | +33.9% |
| Suppliers | 440/4 | €552,198 | €739,240 | +€187,042 | +33.9% |
| Advances received on contracts in progress | 46 | €292 | - | -€292 | |
| Taxes, remuneration and social security | 45 | €151,630 | €164,125 | +€12,494 | +8.2% |
| Taxes | 450/3 | €100,200 | €97,781 | -€2,419 | -2.4% |
| Remuneration and social security | 454/9 | €51,430 | €66,343 | +€14,913 | +29.0% |
| Other amounts payable | 47/48 | €197,500 | €213,596 | +€16,096 | +8.1% |
| Accrued charges and deferred income | 492/3 | €88,137 | €2,329 | -€85,808 | -97.4% |
| Non-recurring operating income | 76A | €13,000 | €18,476 | +€5,476 | +42.1% |
| Remuneration, social security and pensions | 62 | €958,781 | €1,108,379 | +€149,598 | +15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,535 | €75,949 | -€587 | -0.8% |
| Other operating charges | 640/8 | €16,683 | €19,183 | +€2,500 | +15.0% |
| Gross operating margin | 9900 | €1,448,500 | €1,630,573 | +€182,072 | +12.6% |
| Operating profit (loss) | 9901 | €396,501 | €427,062 | +€30,561 | +7.7% |
| Financial income | 75/76B | €6,058 | €6,537 | +€479 | +7.9% |
| Recurring financial income | 75 | €6,058 | €6,537 | +€479 | +7.9% |
| Financial charges | 65/66B | €21,933 | €29,282 | +€7,349 | +33.5% |
| Recurring financial charges | 65 | €21,933 | €29,282 | +€7,349 | +33.5% |
| Profit (loss) for the period before taxes | 9903 | €380,626 | €404,317 | +€23,691 | +6.2% |
| Income taxes | 67/77 | €88,037 | €87,101 | -€936 | -1.1% |
| Profit (loss) for the period | 9904 | €292,589 | €317,215 | +€24,627 | +8.4% |
| Profit (loss) for the period to be appropriated | 9905 | €292,589 | €317,215 | +€24,627 | +8.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.