HAPE: 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.
HAPE
Largest movements
- Tangible fixed assets +€35,320
new in 2025: €35,320
of which Furniture and vehicles: +€33,839
- Receivables within one year +€28,375
up €28,375 (+87.7%), from €32,344 to €60,719
of which Other amounts receivable: +€17,319
- Cash -€13,835
down €13,835 (-14.4%), from €95,953 to €82,119
mainly Investment in fixed assets (net) (-€35,639) and Receivables within one year (-€28,375)
- Deferred charges and accrued income -€3,296
down €3,296 (-37.4%), from €8,801 to €5,506
- Reserves +€18,002
up €18,002 (+73.5%), from €24,486 to €42,488
of which Tax-exempt reserves: +€10,240
- Debts after one year +€15,223
new in 2025: €15,223
- Trade debts +€14,287
up €14,287 (+177.8%), from €8,036 to €22,323
- Tax, wage and social debts -€5,048
down €5,048 (-22.7%), from €22,192 to €17,144
of which Remuneration and social security: -€2,942
- Current portion of long-term debt +€3,947
new in 2025: €3,947
- Gross operating margin +€19,708
up €19,708 (+38.5%), from €51,173 to €70,881
- Depreciation -€2,374
down €2,374 (-88.2%), from €2,692 to €318
- Taxes +€1,878
up €1,878 (+29.4%), from €6,384 to €8,263
- Financial charges +€1,181
up €1,181 (+52.7%), from €2,244 to €3,425
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 | €229,043 | €275,608 | +€46,565 | +20.3% |
| Fixed assets | 21/28 | €51 | €35,371 | +€35,320 | +69228.4% |
| Tangible fixed assets | 22/27 | - | €35,320 | +€35,320 | |
| Furniture and vehicles | 24 | - | €33,839 | +€33,839 | |
| Other tangible fixed assets | 26 | - | €1,481 | +€1,481 | |
| Financial fixed assets | 28 | €51 | €51 | = | 0.0% |
| Current assets | 29/58 | €228,992 | €240,237 | +€11,245 | +4.9% |
| Amounts receivable after more than one year | 29 | €91,893 | €91,893 | = | 0.0% |
| Other amounts receivable | 291 | €91,893 | €91,893 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €32,344 | €60,719 | +€28,375 | +87.7% |
| Trade receivables | 40 | €20,297 | €31,353 | +€11,056 | +54.5% |
| Other amounts receivable | 41 | €12,048 | €29,367 | +€17,319 | +143.8% |
| Cash at bank and in hand | 54/58 | €95,953 | €82,119 | -€13,835 | -14.4% |
| Deferred charges and accrued income | 490/1 | €8,801 | €5,506 | -€3,296 | -37.4% |
| Total equity and liabilities | 10/49 | €229,043 | €275,608 | +€46,565 | +20.3% |
| Equity | 10/15 | €160,357 | €176,692 | +€16,336 | +10.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €24,486 | €42,488 | +€18,002 | +73.5% |
| Tax-exempt reserves | 132 | - | €10,240 | +€10,240 | |
| Distributable reserves | 133 | €24,486 | €32,248 | +€7,762 | +31.7% |
| Profit (loss) carried forward | 14 | €129,670 | €128,004 | -€1,666 | -1.3% |
| Provisions and deferred taxes | 16 | €37,266 | €39,826 | +€2,560 | +6.9% |
| Provisions for liabilities and charges | 160/5 | €37,266 | €37,266 | = | 0.0% |
| Pensions and similar obligations | 160 | €37,266 | €37,266 | = | 0.0% |
| Deferred taxes | 168 | - | €2,560 | +€2,560 | |
| Amounts payable | 17/49 | €31,421 | €59,090 | +€27,669 | +88.1% |
| Amounts payable after more than one year | 17 | - | €15,223 | +€15,223 | |
| Financial debts | 170/4 | - | €15,223 | +€15,223 | |
| Amounts payable within one year | 42/48 | €31,035 | €43,415 | +€12,380 | +39.9% |
| Current portion of amounts payable after more than one year | 42 | - | €3,947 | +€3,947 | |
| Financial debts | 43 | €807 | - | -€807 | |
| Credit institutions | 430/8 | €807 | - | -€807 | |
| Trade debts | 44 | €8,036 | €22,323 | +€14,287 | +177.8% |
| Suppliers | 440/4 | €8,036 | €22,323 | +€14,287 | +177.8% |
| Taxes, remuneration and social security | 45 | €22,192 | €17,144 | -€5,048 | -22.7% |
| Taxes | 450/3 | €17,395 | €15,289 | -€2,106 | -12.1% |
| Remuneration and social security | 454/9 | €4,797 | €1,855 | -€2,942 | -61.3% |
| Accrued charges and deferred income | 492/3 | €385 | €452 | +€66 | +17.2% |
| Remuneration, social security and pensions | 62 | €30,845 | €30,437 | -€408 | -1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,692 | €318 | -€2,374 | -88.2% |
| Other operating charges | 640/8 | €1,705 | €2,396 | +€691 | +40.6% |
| Gross operating margin | 9900 | €51,173 | €70,881 | +€19,708 | +38.5% |
| Operating profit (loss) | 9901 | €15,932 | €37,730 | +€21,798 | +136.8% |
| Financial income | 75/76B | €0 | €30 | +€30 | +8474.3% |
| Recurring financial income | 75 | €0 | €30 | +€30 | +8474.3% |
| Financial charges | 65/66B | €2,244 | €3,425 | +€1,181 | +52.7% |
| Recurring financial charges | 65 | €2,244 | €3,425 | +€1,181 | +52.7% |
| Profit (loss) for the period before taxes | 9903 | €13,689 | €34,335 | +€20,646 | +150.8% |
| Transfer from deferred taxes | 780 | - | €640 | +€640 | |
| Transfer to deferred taxes | 680 | - | €3,200 | +€3,200 | |
| Income taxes | 67/77 | €6,384 | €8,263 | +€1,878 | +29.4% |
| Profit (loss) for the period | 9904 | €7,304 | €23,512 | +€16,208 | +221.9% |
| Transfer from tax-exempt reserves | 789 | - | €2,560 | +€2,560 | |
| Transfer to tax-exempt reserves | 689 | - | €12,800 | +€12,800 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,304 | €13,272 | +€5,968 | +81.7% |
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 5 October 2026 via checked.be.