Happeké: 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.
Happeké
Largest movements
- Stocks and contracts -€75,773
down €75,773 (-100%), from €75,773 to €0
- Tangible fixed assets -€39,061
down €39,061 (-71.5%), from €54,601 to €15,539
of which Plant, machinery and equipment: -€31,535
- Cash +€25,980
up €25,980 (+122%), from €21,270 to €47,250
mainly Net result for the year (+€157,904) and Stocks and contracts (+€75,773)
- Receivables within one year -€19,053
down €19,053 (-95.4%), from €19,980 to €926
of which Other amounts receivable: -€10,865
- Trade debts -€230,884
down €230,884 (-99.6%), from €231,768 to €883
- Profit (loss) carried forward +€157,071
up €157,071 (+83.5%), from -€188,153 to -€31,083
- Other debts -€23,955
down €23,955 (-94.7%), from €25,285 to €1,330
- Debts after one year -€6,431
down €6,431 (-42.9%), from €15,005 to €8,574
- Tax, wage and social debts -€4,185
down €4,185 (-33.7%), from €12,438 to €8,252
of which Remuneration and social security: -€12,415
- Staff costs -€87,600
down €87,600 (-59.5%), from €147,169 to €59,569
- Gross operating margin +€53,580
up €53,580 (+28.8%), from €186,106 to €239,686
- Depreciation -€9,899
down €9,899 (-58.0%), from €17,060 to €7,161
- Taxes +€7,232
new in 2025: €7,232
- Financial charges -€6,743
down €6,743 (-48.3%), from €13,954 to €7,211
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 | €172,068 | €63,998 | -€108,070 | -62.8% |
| Fixed assets | 21/28 | €54,601 | €15,539 | -€39,061 | -71.5% |
| Tangible fixed assets | 22/27 | €54,601 | €15,539 | -€39,061 | -71.5% |
| Plant, machinery and equipment | 23 | €31,535 | €0 | -€31,535 | -100% |
| Furniture and vehicles | 24 | €23,066 | €15,539 | -€7,527 | -32.6% |
| Current assets | 29/58 | €117,467 | €48,458 | -€69,009 | -58.7% |
| Stocks and contracts in progress | 3 | €75,773 | €0 | -€75,773 | -100% |
| Stocks | 30/36 | €75,773 | €0 | -€75,773 | -100% |
| Amounts receivable within one year | 40/41 | €19,980 | €926 | -€19,053 | -95.4% |
| Trade receivables | 40 | €8,189 | €0 | -€8,189 | -100% |
| Other amounts receivable | 41 | €11,791 | €926 | -€10,865 | -92.1% |
| Cash at bank and in hand | 54/58 | €21,270 | €47,250 | +€25,980 | +122% |
| Deferred charges and accrued income | 490/1 | €445 | €282 | -€163 | -36.7% |
| Total equity and liabilities | 10/49 | €172,068 | €63,998 | -€108,070 | -62.8% |
| Equity | 10/15 | -€118,153 | €38,917 | +€157,071 | |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€188,153 | -€31,083 | +€157,071 | +83.5% |
| Amounts payable | 17/49 | €290,221 | €25,081 | -€265,141 | -91.4% |
| Amounts payable after more than one year | 17 | €15,005 | €8,574 | -€6,431 | -42.9% |
| Financial debts | 170/4 | €15,005 | €8,574 | -€6,431 | -42.9% |
| Amounts payable within one year | 42/48 | €275,217 | €16,507 | -€258,710 | -94.0% |
| Current portion of amounts payable after more than one year | 42 | €5,727 | €6,041 | +€314 | +5.5% |
| Trade debts | 44 | €231,768 | €883 | -€230,884 | -99.6% |
| Suppliers | 440/4 | €231,768 | €883 | -€230,884 | -99.6% |
| Advances received on contracts in progress | 46 | - | €0 | = | |
| Taxes, remuneration and social security | 45 | €12,438 | €8,252 | -€4,185 | -33.7% |
| Taxes | 450/3 | €23 | €8,252 | +€8,229 | +35,780% |
| Remuneration and social security | 454/9 | €12,415 | €0 | -€12,415 | -100% |
| Other amounts payable | 47/48 | €25,285 | €1,330 | -€23,955 | -94.7% |
| Non-recurring operating income | 76A | - | €186,030 | +€186,030 | |
| Remuneration, social security and pensions | 62 | €147,169 | €59,569 | -€87,600 | -59.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,060 | €7,161 | -€9,899 | -58.0% |
| Other operating charges | 640/8 | €1,139 | €1,179 | +€40 | +3.5% |
| Gross operating margin | 9900 | €186,106 | €239,686 | +€53,580 | +28.8% |
| Operating profit (loss) | 9901 | €20,738 | €171,777 | +€151,039 | +728% |
| Financial income | 75/76B | €539 | €570 | +€31 | +5.8% |
| Recurring financial income | 75 | €539 | €570 | +€31 | +5.8% |
| Financial charges | 65/66B | €13,954 | €7,211 | -€6,743 | -48.3% |
| Recurring financial charges | 65 | €13,954 | €7,211 | -€6,743 | -48.3% |
| Profit (loss) for the period before taxes | 9903 | €7,322 | €165,136 | +€157,814 | +2,155% |
| Income taxes | 67/77 | - | €7,232 | +€7,232 | |
| Profit (loss) for the period | 9904 | €7,322 | €157,904 | +€150,582 | +2,057% |
| Profit (loss) for the period to be appropriated | 9905 | €7,322 | €157,904 | +€150,582 | +2,057% |
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 15 October 2026 via checked.be.