HaPi - Immo: 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.
HaPi - Immo
Largest movements
- Cash +€85,094
up €85,094 (+951.0%), from €8,947 to €94,042
mainly Debts after one year (+€233,685) and Receivables within one year (+€77,406)
- Receivables within one year -€77,406
no longer reported in 2025 (was €77,406)
- Tangible fixed assets +€58,053
up €58,053 (+5.1%), from €1.1m to €1.2m
of which Land and buildings: +€962,075
- Debts after one year +€233,685
up €233,685 (+27.8%), from €840,357 to €1.1m
- Other debts -€175,000
down €175,000 (-39.0%), from €449,224 to €274,224
- Current portion of long-term debt +€13,745
up €13,745 (+33.5%), from €41,042 to €54,787
- Gross operating margin +€100,042
up €100,042, from -€6,836 to €93,206
- Other operating charges +€49,628
up €49,628 (+6542.1%), from €759 to €50,386
- Depreciation +€29,835
new in 2025: €29,835
- Financial charges +€6,346
up €6,346 (+42.1%), from €15,066 to €21,412
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 | €1,219,417 | €1,285,905 | +€66,488 | +5.5% |
| Fixed assets | 21/28 | €1,133,064 | €1,191,117 | +€58,053 | +5.1% |
| Tangible fixed assets | 22/27 | €1,133,064 | €1,191,117 | +€58,053 | +5.1% |
| Land and buildings | 22 | €195,000 | €1,157,075 | +€962,075 | +493.4% |
| Plant, machinery and equipment | 23 | - | €34,042 | +€34,042 | |
| Assets under construction and advance payments | 27 | €938,064 | - | -€938,064 | |
| Current assets | 29/58 | €86,353 | €94,788 | +€8,435 | +9.8% |
| Amounts receivable within one year | 40/41 | €77,406 | - | -€77,406 | |
| Other amounts receivable | 41 | €77,406 | - | -€77,406 | |
| Cash at bank and in hand | 54/58 | €8,947 | €94,042 | +€85,094 | +951.0% |
| Deferred charges and accrued income | 490/1 | - | €747 | +€747 | |
| Total equity and liabilities | 10/49 | €1,219,417 | €1,285,905 | +€66,488 | +5.5% |
| Equity | 10/15 | -€113,510 | -€121,938 | -€8,428 | -7.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€116,010 | -€124,438 | -€8,428 | -7.3% |
| Amounts payable | 17/49 | €1,332,927 | €1,407,843 | +€74,916 | +5.6% |
| Amounts payable after more than one year | 17 | €840,357 | €1,074,042 | +€233,685 | +27.8% |
| Financial debts | 170/4 | €840,357 | €1,074,042 | +€233,685 | +27.8% |
| Amounts payable within one year | 42/48 | €492,571 | €333,801 | -€158,770 | -32.2% |
| Current portion of amounts payable after more than one year | 42 | €41,042 | €54,787 | +€13,745 | +33.5% |
| Trade debts | 44 | €2,305 | €585 | -€1,720 | -74.6% |
| Suppliers | 440/4 | €2,305 | €585 | -€1,720 | -74.6% |
| Taxes, remuneration and social security | 45 | - | €4,205 | +€4,205 | |
| Taxes | 450/3 | - | €4,205 | +€4,205 | |
| Other amounts payable | 47/48 | €449,224 | €274,224 | -€175,000 | -39.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €29,835 | +€29,835 | |
| Other operating charges | 640/8 | €759 | €50,386 | +€49,628 | +6542.1% |
| Gross operating margin | 9900 | -€6,836 | €93,206 | +€100,042 | |
| Operating profit (loss) | 9901 | -€7,595 | €12,984 | +€20,579 | |
| Financial charges | 65/66B | €15,066 | €21,412 | +€6,346 | +42.1% |
| Recurring financial charges | 65 | €15,066 | €21,412 | +€6,346 | +42.1% |
| Profit (loss) for the period before taxes | 9903 | -€22,661 | -€8,428 | +€14,233 | +62.8% |
| Profit (loss) for the period | 9904 | -€22,661 | -€8,428 | +€14,233 | +62.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,661 | -€8,428 | +€14,233 | +62.8% |
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 28 September 2026 via checked.be.