HAPILY: 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.
HAPILY
Largest movements
- Tangible fixed assets +€208,237
up €208,237 (+13.2%), from €1.6m to €1.8m
- Cash -€119,967
down €119,967 (-71.4%), from €168,091 to €48,124
mainly Investment in fixed assets (net) (-€335,159) and Receivables within one year (-€113,157)
- Receivables within one year +€113,157
up €113,157 (+17.2%), from €656,957 to €770,114
of which Trade receivables: +€261,510
- Reserves +€149,997
up €149,997 (+10.5%), from €1.4m to €1.6m
of which Distributable reserves: +€276,297
- Other debts +€66,205
up €66,205 (+5.7%), from €1.2m to €1.2m
- Tax, wage and social debts -€45,096
down €45,096 (-56.4%), from €79,901 to €34,805
- Taxes -€51,829
down €51,829 (-38.9%), from €133,206 to €81,377
- Gross operating margin -€48,397
down €48,397 (-8.6%), from €561,510 to €513,113
- Depreciation +€38,952
up €38,952 (+44.3%), from €87,970 to €126,921
- Financial charges -€11,170
down €11,170 (-10.2%), from €109,324 to €98,154
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 | €3,572,371 | €3,749,859 | +€177,488 | +5.0% |
| Fixed assets | 21/28 | €2,721,763 | €2,930,000 | +€208,237 | +7.7% |
| Tangible fixed assets | 22/27 | €1,572,077 | €1,780,314 | +€208,237 | +13.2% |
| Land and buildings | 22 | €1,572,077 | €1,780,314 | +€208,237 | +13.2% |
| Financial fixed assets | 28 | €1,149,686 | €1,149,686 | = | 0.0% |
| Current assets | 29/58 | €850,608 | €819,858 | -€30,750 | -3.6% |
| Amounts receivable within one year | 40/41 | €656,957 | €770,114 | +€113,157 | +17.2% |
| Trade receivables | 40 | €2,013 | €263,523 | +€261,510 | +12991.5% |
| Other amounts receivable | 41 | €654,944 | €506,591 | -€148,353 | -22.7% |
| Cash at bank and in hand | 54/58 | €168,091 | €48,124 | -€119,967 | -71.4% |
| Deferred charges and accrued income | 490/1 | €25,561 | €1,621 | -€23,940 | -93.7% |
| Total equity and liabilities | 10/49 | €3,572,371 | €3,749,859 | +€177,488 | +5.0% |
| Equity | 10/15 | €1,713,404 | €1,892,868 | +€179,465 | +10.5% |
| Contributions | 10/11 | €280,000 | €280,000 | = | 0.0% |
| Reserves | 13 | €1,433,407 | €1,583,404 | +€149,997 | +10.5% |
| Tax-exempt reserves | 132 | €145,050 | €18,750 | -€126,300 | -87.1% |
| Distributable reserves | 133 | €1,288,357 | €1,564,654 | +€276,297 | +21.4% |
| Profit (loss) carried forward | 14 | -€3 | €29,465 | +€29,468 | |
| Amounts payable | 17/49 | €1,858,967 | €1,856,990 | -€1,977 | -0.1% |
| Amounts payable after more than one year | 17 | €422,564 | €389,161 | -€33,403 | -7.9% |
| Financial debts | 170/4 | €422,564 | €389,161 | -€33,403 | -7.9% |
| Amounts payable within one year | 42/48 | €1,422,139 | €1,453,627 | +€31,488 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | €162,347 | €183,403 | +€21,056 | +13.0% |
| Trade debts | 44 | €14,175 | €4,833 | -€9,342 | -65.9% |
| Suppliers | 440/4 | €14,175 | €4,833 | -€9,342 | -65.9% |
| Advances received on contracts in progress | 46 | €1,335 | - | -€1,335 | |
| Taxes, remuneration and social security | 45 | €79,901 | €34,805 | -€45,096 | -56.4% |
| Taxes | 450/3 | €79,901 | €34,805 | -€45,096 | -56.4% |
| Other amounts payable | 47/48 | €1,164,381 | €1,230,586 | +€66,205 | +5.7% |
| Accrued charges and deferred income | 492/3 | €14,264 | €14,203 | -€61 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,970 | €126,921 | +€38,952 | +44.3% |
| Other operating charges | 640/8 | €9,338 | €10,006 | +€667 | +7.1% |
| Non-recurring operating charges | 66A | - | €18,183 | +€18,183 | |
| Gross operating margin | 9900 | €561,510 | €513,113 | -€48,397 | -8.6% |
| Operating profit (loss) | 9901 | €464,202 | €358,003 | -€106,199 | -22.9% |
| Financial income | 75/76B | €658 | €992 | +€334 | +50.7% |
| Recurring financial income | 75 | €658 | €992 | +€334 | +50.7% |
| Financial charges | 65/66B | €109,324 | €98,154 | -€11,170 | -10.2% |
| Recurring financial charges | 65 | €109,324 | €98,154 | -€11,170 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €355,536 | €260,841 | -€94,695 | -26.6% |
| Transfer from deferred taxes | 780 | €294,700 | - | -€294,700 | |
| Income taxes | 67/77 | €133,206 | €81,377 | -€51,829 | -38.9% |
| Profit (loss) for the period | 9904 | €517,031 | €179,465 | -€337,566 | -65.3% |
| Transfer from tax-exempt reserves | 789 | - | €126,300 | +€126,300 | |
| Profit (loss) for the period to be appropriated | 9905 | €517,031 | €305,765 | -€211,266 | -40.9% |
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 12 October 2026 via checked.be.