HAPPINEST: 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.
HAPPINEST
Largest movements
- Stocks and contracts -€20,027
no longer reported in 2025 (was €20,027)
- Cash +€1,295
up €1,295 (+104%), from €1,248 to €2,543
mainly Stocks and contracts (+€20,027) and Trade debts (+€2,383)
- Receivables within one year +€705
up €705 (+56.4%), from €1,250 to €1,955
of which Trade receivables: +€1,955
- Tangible fixed assets -€268
no longer reported in 2025 (was €268)
- Other debts -€13,196
down €13,196 (-81.0%), from €16,299 to €3,103
- Profit (loss) carried forward -€3,795
down €3,795 (-6.9%), from -€54,721 to -€58,516
- Current portion of long-term debt -€2,589
no longer reported in 2025 (was €2,589)
- Trade debts +€2,383
up €2,383 (+160%), from €1,492 to €3,875
- Debts after one year -€2,269
no longer reported in 2025 (was €2,269)
- Gross operating margin -€9,444
down €9,444, from €6,283 to -€3,161
- Depreciation -€1,282
down €1,282 (-92.5%), from €1,386 to €104
- Other operating charges -€194
down €194 (-50.1%), from €387 to €193
- Financial charges -€109
down €109 (-24.4%), from €447 to €338
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 | €23,548 | €5,143 | -€18,405 | -78.2% |
| Fixed assets | 21/28 | €687 | €209 | -€478 | -69.6% |
| Intangible fixed assets | 21 | €29 | - | -€29 | |
| Tangible fixed assets | 22/27 | €268 | - | -€268 | |
| Furniture and vehicles | 24 | €268 | - | -€268 | |
| Financial fixed assets | 28 | €390 | €209 | -€181 | -46.4% |
| Current assets | 29/58 | €22,861 | €4,934 | -€17,927 | -78.4% |
| Stocks and contracts in progress | 3 | €20,027 | - | -€20,027 | |
| Stocks | 30/36 | €20,027 | - | -€20,027 | |
| Amounts receivable within one year | 40/41 | €1,250 | €1,955 | +€705 | +56.4% |
| Trade receivables | 40 | - | €1,955 | +€1,955 | |
| Other amounts receivable | 41 | €1,250 | - | -€1,250 | |
| Cash at bank and in hand | 54/58 | €1,248 | €2,543 | +€1,295 | +104% |
| Deferred charges and accrued income | 490/1 | €336 | €436 | +€100 | +29.8% |
| Total equity and liabilities | 10/49 | €23,548 | €5,143 | -€18,405 | -78.2% |
| Equity | 10/15 | -€171 | -€3,966 | -€3,795 | -2,219% |
| Contributions | 10/11 | €54,550 | €54,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€54,721 | -€58,516 | -€3,795 | -6.9% |
| Amounts payable | 17/49 | €23,719 | €9,109 | -€14,610 | -61.6% |
| Amounts payable after more than one year | 17 | €2,269 | - | -€2,269 | |
| Financial debts | 170/4 | €2,269 | - | -€2,269 | |
| Amounts payable within one year | 42/48 | €21,450 | €9,109 | -€12,341 | -57.5% |
| Current portion of amounts payable after more than one year | 42 | €2,589 | - | -€2,589 | |
| Trade debts | 44 | €1,492 | €3,875 | +€2,383 | +160% |
| Suppliers | 440/4 | €1,492 | €3,875 | +€2,383 | +160% |
| Advances received on contracts in progress | 46 | €1,070 | - | -€1,070 | |
| Taxes, remuneration and social security | 45 | - | €2,131 | +€2,131 | |
| Taxes | 450/3 | - | €2,131 | +€2,131 | |
| Other amounts payable | 47/48 | €16,299 | €3,103 | -€13,196 | -81.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,386 | €104 | -€1,282 | -92.5% |
| Other operating charges | 640/8 | €387 | €193 | -€194 | -50.1% |
| Gross operating margin | 9900 | €6,283 | -€3,161 | -€9,444 | |
| Operating profit (loss) | 9901 | €4,510 | -€3,458 | -€7,968 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €447 | €338 | -€109 | -24.4% |
| Recurring financial charges | 65 | €447 | €338 | -€109 | -24.4% |
| Profit (loss) for the period before taxes | 9903 | €4,063 | -€3,795 | -€7,858 | |
| Profit (loss) for the period | 9904 | €4,063 | -€3,795 | -€7,858 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,063 | -€3,795 | -€7,858 |
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 18 October 2026 via checked.be.