HAPI FINANCE: 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.
HAPI FINANCE
Largest movements
- Current investments +€1.2m
up €1.2m (+186%), from €624,318 to €1.8m
- Receivables within one year +€793,035
up €793,035 (+17.8%), from €4.5m to €5.3m
of which Other amounts receivable: +€816,323
- Financial fixed assets -€152,800
down €152,800 (-14.2%), from €1.1m to €925,059
- Reserves +€1.6m
up €1.6m (+81.8%), from €1.9m to €3.5m
of which Distributable reserves: +€1.6m
- Tax, wage and social debts +€161,985
up €161,985 (+342%), from €47,318 to €209,303
- Gross operating margin +€1.6m
up €1.6m, from -€10,124 to €1.6m
- Financial charges +€445,639
up €445,639, from -€309,759 to €135,880
of which Financial charges: +€445,639
- Financial income +€146,660
up €146,660 (+121%), from €121,184 to €267,844
- Taxes +€119,718
up €119,718 (+326%), from €36,768 to €156,486
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,787,747 | €8,514,038 | +€1.7m | +25.4% |
| Fixed assets | 21/28 | €1,099,133 | €930,223 | -€168,910 | -15.4% |
| Tangible fixed assets | 22/27 | €21,274 | €5,164 | -€16,110 | -75.7% |
| Furniture and vehicles | 24 | €21,274 | €5,164 | -€16,110 | -75.7% |
| Financial fixed assets | 28 | €1,077,859 | €925,059 | -€152,800 | -14.2% |
| Current assets | 29/58 | €5,688,614 | €7,583,814 | +€1.9m | +33.3% |
| Amounts receivable within one year | 40/41 | €4,461,847 | €5,254,882 | +€793,035 | +17.8% |
| Trade receivables | 40 | €48,400 | €25,112 | -€23,288 | -48.1% |
| Other amounts receivable | 41 | €4,413,447 | €5,229,770 | +€816,323 | +18.5% |
| Current investments | 50/53 | €624,318 | €1,783,038 | +€1.2m | +186% |
| Cash at bank and in hand | 54/58 | €600,699 | €543,839 | -€56,860 | -9.5% |
| Deferred charges and accrued income | 490/1 | €1,750 | €2,055 | +€305 | +17.4% |
| Total equity and liabilities | 10/49 | €6,787,747 | €8,514,038 | +€1.7m | +25.4% |
| Equity | 10/15 | €6,737,041 | €8,302,490 | +€1.6m | +23.2% |
| Contributions | 10/11 | €4,823,000 | €4,823,000 | = | 0.0% |
| Reserves | 13 | €1,914,041 | €3,479,490 | +€1.6m | +81.8% |
| Non-distributable reserves | 130/1 | €92,895 | €92,895 | = | 0.0% |
| Reserves not available under the articles | 1311 | €92,895 | €92,895 | = | 0.0% |
| Distributable reserves | 133 | €1,821,146 | €3,386,595 | +€1.6m | +86.0% |
| Amounts payable | 17/49 | €50,706 | €211,547 | +€160,841 | +317% |
| Amounts payable within one year | 42/48 | €49,838 | €210,577 | +€160,739 | +323% |
| Trade debts | 44 | €2,520 | €1,274 | -€1,246 | -49.4% |
| Suppliers | 440/4 | €2,520 | €1,274 | -€1,246 | -49.4% |
| Taxes, remuneration and social security | 45 | €47,318 | €209,303 | +€161,985 | +342% |
| Taxes | 450/3 | €47,318 | €209,303 | +€161,985 | +342% |
| Accrued charges and deferred income | 492/3 | €868 | €970 | +€102 | +11.8% |
| Non-recurring operating income | 76A | - | €1,560,946 | +€1.6m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,110 | €16,110 | = | 0.0% |
| Other operating charges | 640/8 | €3,223 | €2,978 | -€244 | -7.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€10,124 | €1,609,059 | +€1.6m | |
| Operating profit (loss) | 9901 | -€29,456 | €1,589,971 | +€1.6m | |
| Financial income | 75/76B | €121,184 | €267,844 | +€146,660 | +121% |
| Recurring financial income | 75 | €121,184 | €267,844 | +€146,660 | +121% |
| Financial charges | 65/66B | -€309,759 | €135,880 | +€445,639 | |
| Recurring financial charges | 65 | -€309,759 | €135,880 | +€445,639 | |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €401,487 | €1,721,935 | +€1.3m | +329% |
| Income taxes | 67/77 | €36,768 | €156,486 | +€119,718 | +326% |
| Profit (loss) for the period | 9904 | €364,719 | €1,565,449 | +€1.2m | +329% |
| Profit (loss) for the period to be appropriated | 9905 | €364,719 | €1,565,449 | +€1.2m | +329% |
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 14 October 2026 via checked.be.