HAPPI: 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.
HAPPI
Largest movements
- Tangible fixed assets -€506,840
down €506,840 (-97.9%), from €517,955 to €11,115
of which Land and buildings: -€501,473
- Cash -€64,711
down €64,711 (-13.4%), from €484,262 to €419,551
mainly Other debts (-€464,000) and Net result for the year (-€96,130)
- Other debts -€464,000
down €464,000 (-63.0%), from €736,318 to €272,318
- Profit (loss) carried forward -€96,130
down €96,130 (-40.7%), from -€236,134 to -€332,264
- Other operating charges +€68,123
up €68,123 (+14845.5%), from €459 to €68,582
- Gross operating margin +€29,014
up €29,014 (+57.6%), from -€50,357 to -€21,343
- Financial charges -€13,737
down €13,737 (-96.6%), from €14,222 to €485
- Depreciation -€12,500
down €12,500 (-74.6%), from €16,766 to €4,266
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 | €1,007,724 | €441,543 | -€566,181 | -56.2% |
| Fixed assets | 21/28 | €517,955 | €11,115 | -€506,840 | -97.9% |
| Tangible fixed assets | 22/27 | €517,955 | €11,115 | -€506,840 | -97.9% |
| Land and buildings | 22 | €501,473 | - | -€501,473 | |
| Plant, machinery and equipment | 23 | €1,048 | €781 | -€267 | -25.5% |
| Furniture and vehicles | 24 | €15,434 | €10,334 | -€5,100 | -33.0% |
| Current assets | 29/58 | €489,769 | €430,428 | -€59,341 | -12.1% |
| Amounts receivable within one year | 40/41 | €3,787 | €10,868 | +€7,081 | +187.0% |
| Trade receivables | 40 | €2,817 | - | -€2,817 | |
| Other amounts receivable | 41 | €970 | €10,868 | +€9,898 | +1020.4% |
| Cash at bank and in hand | 54/58 | €484,262 | €419,551 | -€64,711 | -13.4% |
| Deferred charges and accrued income | 490/1 | €1,720 | €9 | -€1,711 | -99.5% |
| Total equity and liabilities | 10/49 | €1,007,724 | €441,543 | -€566,181 | -56.2% |
| Equity | 10/15 | €263,866 | €167,736 | -€96,130 | -36.4% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€236,134 | -€332,264 | -€96,130 | -40.7% |
| Amounts payable | 17/49 | €743,858 | €273,807 | -€470,051 | -63.2% |
| Amounts payable within one year | 42/48 | €740,836 | €273,807 | -€467,029 | -63.0% |
| Trade debts | 44 | €4,518 | €1,489 | -€3,029 | -67.0% |
| Suppliers | 440/4 | €4,518 | €1,489 | -€3,029 | -67.0% |
| Other amounts payable | 47/48 | €736,318 | €272,318 | -€464,000 | -63.0% |
| Accrued charges and deferred income | 492/3 | €3,022 | - | -€3,022 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,766 | €4,266 | -€12,500 | -74.6% |
| Other operating charges | 640/8 | €459 | €68,582 | +€68,123 | +14845.5% |
| Non-recurring operating charges | 66A | €36,000 | €1,797 | -€34,203 | -95.0% |
| Gross operating margin | 9900 | -€50,357 | -€21,343 | +€29,014 | +57.6% |
| Operating profit (loss) | 9901 | -€103,582 | -€95,988 | +€7,594 | +7.3% |
| Financial income | 75/76B | - | €343 | +€343 | |
| Recurring financial income | 75 | - | €343 | +€343 | |
| Financial charges | 65/66B | €14,222 | €485 | -€13,737 | -96.6% |
| Recurring financial charges | 65 | €14,222 | €485 | -€13,737 | -96.6% |
| Profit (loss) for the period before taxes | 9903 | -€117,804 | -€96,130 | +€21,674 | +18.4% |
| Profit (loss) for the period | 9904 | -€117,804 | -€96,130 | +€21,674 | +18.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€117,804 | -€96,130 | +€21,674 | +18.4% |
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 1 October 2026 via checked.be.