HAPEE: 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.
HAPEE
Largest movements
- Tangible fixed assets -€11,744
down €11,744 (-98.4%), from €11,939 to €195
of which Furniture and vehicles: -€11,351
- Cash +€10,056
up €10,056 (+49.0%), from €20,540 to €30,596
mainly Depreciation (+€11,744) and Net result for the year (+€8,266)
- Receivables within one year +€9,221
up €9,221 (+115.1%), from €8,013 to €17,234
of which Trade receivables: +€8,084
- Profit (loss) carried forward +€8,266
up €8,266 (+92.2%), from €8,969 to €17,235
- Debts after one year -€7,682
no longer reported in 2025 (was €7,682)
- Other debts +€7,423
up €7,423 (+953.2%), from €779 to €8,202
- Trade debts -€839
down €839 (-23.6%), from €3,555 to €2,716
- Gross operating margin +€17,429
up €17,429 (+61.9%), from €28,141 to €45,570
- Financial charges +€16,856
up €16,856 (+1761.5%), from €957 to €17,813
- Depreciation -€1,693
down €1,693 (-12.6%), from €13,438 to €11,744
- Taxes +€657
up €657 (+20.4%), from €3,216 to €3,873
- Staff costs +€584
up €584 (+30.4%), from €1,920 to €2,504
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 | €40,892 | €48,025 | +€7,133 | +17.4% |
| Fixed assets | 21/28 | €11,999 | €195 | -€11,804 | -98.4% |
| Tangible fixed assets | 22/27 | €11,939 | €195 | -€11,744 | -98.4% |
| Plant, machinery and equipment | 23 | €394 | - | -€394 | |
| Furniture and vehicles | 24 | €11,545 | €195 | -€11,351 | -98.3% |
| Financial fixed assets | 28 | €60 | - | -€60 | |
| Current assets | 29/58 | €28,892 | €47,830 | +€18,938 | +65.5% |
| Amounts receivable within one year | 40/41 | €8,013 | €17,234 | +€9,221 | +115.1% |
| Trade receivables | 40 | €8,013 | €16,097 | +€8,084 | +100.9% |
| Other amounts receivable | 41 | - | €1,137 | +€1,137 | |
| Cash at bank and in hand | 54/58 | €20,540 | €30,596 | +€10,056 | +49.0% |
| Deferred charges and accrued income | 490/1 | €339 | - | -€339 | |
| Total equity and liabilities | 10/49 | €40,892 | €48,025 | +€7,133 | +17.4% |
| Equity | 10/15 | €10,469 | €18,735 | +€8,266 | +79.0% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,969 | €17,235 | +€8,266 | +92.2% |
| Amounts payable | 17/49 | €30,423 | €29,290 | -€1,133 | -3.7% |
| Amounts payable after more than one year | 17 | €7,682 | - | -€7,682 | |
| Financial debts | 170/4 | €7,682 | - | -€7,682 | |
| Amounts payable within one year | 42/48 | €22,342 | €29,290 | +€6,948 | +31.1% |
| Current portion of amounts payable after more than one year | 42 | €7,337 | €7,337 | = | 0.0% |
| Trade debts | 44 | €3,555 | €2,716 | -€839 | -23.6% |
| Suppliers | 440/4 | €3,555 | €2,716 | -€839 | -23.6% |
| Taxes, remuneration and social security | 45 | €10,671 | €11,035 | +€365 | +3.4% |
| Taxes | 450/3 | €9,821 | €11,035 | +€1,215 | +12.4% |
| Remuneration and social security | 454/9 | €850 | - | -€850 | |
| Other amounts payable | 47/48 | €779 | €8,202 | +€7,423 | +953.2% |
| Accrued charges and deferred income | 492/3 | €400 | - | -€400 | |
| Remuneration, social security and pensions | 62 | €1,920 | €2,504 | +€584 | +30.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,438 | €11,744 | -€1,693 | -12.6% |
| Other operating charges | 640/8 | €883 | €1,402 | +€519 | +58.7% |
| Gross operating margin | 9900 | €28,141 | €45,570 | +€17,429 | +61.9% |
| Operating profit (loss) | 9901 | €11,900 | €29,920 | +€18,020 | +151.4% |
| Financial income | 75/76B | €143 | €33 | -€110 | -77.2% |
| Recurring financial income | 75 | €143 | €33 | -€110 | -77.2% |
| Financial charges | 65/66B | €957 | €17,813 | +€16,856 | +1761.5% |
| Recurring financial charges | 65 | €957 | €17,813 | +€16,856 | +1761.5% |
| Profit (loss) for the period before taxes | 9903 | €11,086 | €12,139 | +€1,053 | +9.5% |
| Income taxes | 67/77 | €3,216 | €3,873 | +€657 | +20.4% |
| Profit (loss) for the period | 9904 | €7,870 | €8,266 | +€396 | +5.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,870 | €8,266 | +€396 | +5.0% |
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 3 October 2026 via checked.be.