HAPPY GENERATION PROPERTY: 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.
What changed
HAPPY GENERATION PROPERTY
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€184,891
2024 · -€702,825+€517,934
Equity
€3.7m
2024 · €3.9m-€184,892
Cash
€213,293
2024 · €208,560+€4,733
Balance sheet total
€23.4m
2024 · €23.8m-€424,434
Largest movements
Assets
- Tangible fixed assets -€347,252
down €347,252 (-1.5%), from €23.2m to €22.9m
Equity and liabilities
- Debts after one year -€514,835
down €514,835 (-3.6%), from €14.3m to €13.8m
- Other debts +€278,509
up €278,509 (+5.9%), from €4.7m to €5.0m
Income statement
- Gross operating margin +€436,114
up €436,114 (+82.2%), from €530,784 to €966,898
- Financial income +€203,434
up €203,434 (+4,992%), from €4,075 to €207,509
of which Non-recurring financial income: +€207,498
- Depreciation +€124,988
up €124,988 (+20.7%), from €602,837 to €727,825
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.
Result 2024
-€702,825
Gross operating margin
+€436,114
Depreciation
-€124,988
Other operating charges
+€3,022
Financial income
+€203,434
Financial charges
+€352
Result 2025
-€184,891
raises the resultlowers the result
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.
From operations
+€898,070
Investment
-€380,573
Financing
-€512,764
Cash 2024
€208,560
From operations (derived)
+€898,070
Net result for the year
-€184,891
Depreciation
+€727,825
Receivables within one year
+€15,847
Deferred charges and accrued income
+€66,068
Provisions
-€20,835
Trade debts
+€11,439
Tax, wage and social debts
-€171
Other debts
+€278,509
Accrued charges and deferred income
+€4,279
Investment (derived)
-€380,573
Investment in fixed assets (net)
-€380,573
Financing
-€512,764
Debts after one year
-€514,835
Current portion of long-term debt
+€2,072
Contributions, distributions and other
-€1
Cash 2025
€213,293
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,839,850 | €23,415,416 | -€424,434 | -1.8% |
| Fixed assets | 21/28 | €23,214,299 | €22,867,047 | -€347,252 | -1.5% |
| Tangible fixed assets | 22/27 | €23,214,299 | €22,867,047 | -€347,252 | -1.5% |
| Land and buildings | 22 | €23,214,299 | €22,867,047 | -€347,252 | -1.5% |
| Current assets | 29/58 | €625,551 | €548,369 | -€77,182 | -12.3% |
| Amounts receivable within one year | 40/41 | €15,849 | €2 | -€15,847 | -100.0% |
| Trade receivables | 40 | €8,766 | - | -€8,766 | |
| Other amounts receivable | 41 | €7,083 | €2 | -€7,081 | -100.0% |
| Current investments | 50/53 | €200 | €200 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €208,560 | €213,293 | +€4,733 | +2.3% |
| Deferred charges and accrued income | 490/1 | €400,942 | €334,874 | -€66,068 | -16.5% |
| Total equity and liabilities | 10/49 | €23,839,850 | €23,415,416 | -€424,434 | -1.8% |
| Equity | 10/15 | €3,920,944 | €3,736,052 | -€184,892 | -4.7% |
| Contributions | 10/11 | €4,562,000 | €4,562,000 | = | 0.0% |
| Capital | 10 | €4,562,000 | €4,562,000 | = | 0.0% |
| Issued capital | 100 | €4,562,000 | €4,562,000 | = | 0.0% |
| Reserves | 13 | €1,127,643 | €1,058,044 | -€69,599 | -6.2% |
| Non-distributable reserves | 130/1 | €8,500 | €8,500 | = | 0.0% |
| Legal reserve | 130 | €8,500 | €8,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,119,143 | €1,049,544 | -€69,599 | -6.2% |
| Profit (loss) carried forward | 14 | -€1,768,699 | -€1,883,992 | -€115,293 | -6.5% |
| Provisions and deferred taxes | 16 | €335,029 | €314,194 | -€20,835 | -6.2% |
| Deferred taxes | 168 | €335,029 | €314,194 | -€20,835 | -6.2% |
| Amounts payable | 17/49 | €19,583,877 | €19,365,170 | -€218,707 | -1.1% |
| Amounts payable after more than one year | 17 | €14,297,877 | €13,783,042 | -€514,835 | -3.6% |
| Financial debts | 170/4 | €14,297,877 | €13,783,042 | -€514,835 | -3.6% |
| Amounts payable within one year | 42/48 | €5,284,501 | €5,576,350 | +€291,849 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €512,763 | €514,835 | +€2,072 | +0.4% |
| Trade debts | 44 | €30,752 | €42,191 | +€11,439 | +37.2% |
| Suppliers | 440/4 | €30,752 | €42,191 | +€11,439 | +37.2% |
| Taxes, remuneration and social security | 45 | €171 | - | -€171 | |
| Taxes | 450/3 | €171 | - | -€171 | |
| Other amounts payable | 47/48 | €4,740,815 | €5,019,324 | +€278,509 | +5.9% |
| Accrued charges and deferred income | 492/3 | €1,499 | €5,778 | +€4,279 | +285% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €602,837 | €727,825 | +€124,988 | +20.7% |
| Other operating charges | 640/8 | €68,499 | €65,477 | -€3,022 | -4.4% |
| Gross operating margin | 9900 | €530,784 | €966,898 | +€436,114 | +82.2% |
| Operating profit (loss) | 9901 | -€140,552 | €173,596 | +€314,148 | |
| Financial income | 75/76B | €4,075 | €207,509 | +€203,434 | +4,992% |
| Recurring financial income | 75 | €4,075 | €11 | -€4,064 | -99.7% |
| Non-recurring financial income | 76B | - | €207,498 | +€207,498 | |
| Financial charges | 65/66B | €587,183 | €586,831 | -€352 | -0.1% |
| Recurring financial charges | 65 | €587,183 | €586,831 | -€352 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | -€723,660 | -€205,726 | +€517,934 | +71.6% |
| Transfer from deferred taxes | 780 | €20,835 | €20,835 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€702,825 | -€184,891 | +€517,934 | +73.7% |
| Transfer from tax-exempt reserves | 789 | €69,599 | €69,598 | -€1 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€633,226 | -€115,293 | +€517,933 | +81.8% |
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.