HAPPY: 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.
HAPPY
Largest movements
- Stocks and contracts -€5,434
no longer reported in 2025 (was €5,434)
- Cash -€3,724
down €3,724 (-17.7%), from €21,097 to €17,373
mainly Net result for the year (-€5,150) and Receivables within one year (-€2,542)
- Reserves -€5,150
down €5,150 (-4.5%), from €115,455 to €110,305
of which Distributable reserves: -€5,150
- Gross operating margin -€5,934
down €5,934, from €1,355 to -€4,579
- Financial income +€138
new in 2025: €138
- Financial charges +€67
up €67 (+68.4%), from €98 to €165
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 | €311,134 | €304,518 | -€6,616 | -2.1% |
| Fixed assets | 21/28 | €113,925 | €113,925 | = | 0.0% |
| Financial fixed assets | 28 | €113,925 | €113,925 | = | 0.0% |
| Current assets | 29/58 | €197,209 | €190,593 | -€6,616 | -3.4% |
| Amounts receivable after more than one year | 29 | €167,000 | €167,000 | = | 0.0% |
| Trade receivables | 290 | €167,000 | €167,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €5,434 | - | -€5,434 | |
| Stocks | 30/36 | €5,434 | - | -€5,434 | |
| Amounts receivable within one year | 40/41 | €3,678 | €6,220 | +€2,542 | +69.1% |
| Trade receivables | 40 | €3,000 | €5,430 | +€2,430 | +81.0% |
| Other amounts receivable | 41 | €678 | €790 | +€112 | +16.5% |
| Cash at bank and in hand | 54/58 | €21,097 | €17,373 | -€3,724 | -17.7% |
| Total equity and liabilities | 10/49 | €311,134 | €304,518 | -€6,616 | -2.1% |
| Equity | 10/15 | €177,455 | €172,305 | -€5,150 | -2.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €115,455 | €110,305 | -€5,150 | -4.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €109,255 | €104,105 | -€5,150 | -4.7% |
| Amounts payable | 17/49 | €133,679 | €132,213 | -€1,466 | -1.1% |
| Amounts payable after more than one year | 17 | €82,000 | €82,000 | = | 0.0% |
| Other amounts payable | 178/9 | €82,000 | €82,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €50,379 | €48,913 | -€1,466 | -2.9% |
| Trade debts | 44 | €30,068 | €28,431 | -€1,637 | -5.4% |
| Suppliers | 440/4 | €30,068 | €28,431 | -€1,637 | -5.4% |
| Taxes, remuneration and social security | 45 | €48 | €55 | +€7 | +14.6% |
| Taxes | 450/3 | €48 | €55 | +€7 | +14.6% |
| Other amounts payable | 47/48 | €20,263 | €20,427 | +€164 | +0.8% |
| Accrued charges and deferred income | 492/3 | €1,300 | €1,300 | = | 0.0% |
| Other operating charges | 640/8 | €528 | €544 | +€16 | +3.0% |
| Gross operating margin | 9900 | €1,355 | -€4,579 | -€5,934 | |
| Operating profit (loss) | 9901 | €827 | -€5,123 | -€5,950 | |
| Financial income | 75/76B | - | €138 | +€138 | |
| Recurring financial income | 75 | - | €138 | +€138 | |
| Financial charges | 65/66B | €98 | €165 | +€67 | +68.4% |
| Recurring financial charges | 65 | €98 | €165 | +€67 | +68.4% |
| Profit (loss) for the period before taxes | 9903 | €729 | -€5,150 | -€5,879 | |
| Profit (loss) for the period | 9904 | €729 | -€5,150 | -€5,879 | |
| Profit (loss) for the period to be appropriated | 9905 | €729 | -€5,150 | -€5,879 |
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 6 October 2026 via checked.be.