HAPPY HOUSE CONSTRUCT: 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 HOUSE CONSTRUCT
NACE 70.100, Activities of head offices
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€98,601
2024 · €385,772-€484,373
Equity
€936,401
2024 · €1.0m-€98,601
Cash
€25,231
2024 · €48,395-€23,163
Balance sheet total
€6.2m
2024 · €6.6m-€384,172
Largest movements
Assets
- Tangible fixed assets -€441,664
down €441,664 (-7.5%), from €5.9m to €5.5m
of which Land and buildings: -€309,933
Equity and liabilities
- Other debts -€778,489
down €778,489 (-94.7%), from €821,943 to €43,454
- Debts after one year +€396,481
up €396,481 (+11.5%), from €3.5m to €3.9m
of which Other amounts payable: +€756,444
- Reserves -€136,558
down €136,558 (-11.7%), from €1.2m to €1.0m
of which Tax-exempt reserves: -€136,558
- Trade debts +€104,939
up €104,939 (+18.7%), from €560,807 to €665,747
Income statement
- Gross operating margin -€561,851
down €561,851 (-59.8%), from €940,012 to €378,161
- Depreciation -€33,972
down €33,972 (-9.7%), from €348,875 to €314,903
- Financial charges -€30,333
down €30,333 (-22.0%), from €137,872 to €107,538
- Staff costs -€19,067
down €19,067 (-69.9%), from €27,295 to €8,228
- Other operating charges -€17,574
down €17,574 (-26.9%), from €65,282 to €47,708
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
€385,772
Gross operating margin
-€561,851
Staff costs
+€19,067
Depreciation
+€33,972
Write-downs
-€14,984
Other operating charges
+€17,574
Other operating items
-€15,365
Financial income
-€1,322
Financial charges
+€30,333
Taxes
-€14,029
Deferred taxes and other
+€22,231
Result 2025
-€98,601
raises the resultlowers the resultnot broken down further in the accounts
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
-€513,181
Investment
+€86,040
Financing
+€403,977
Cash 2024
€48,395
From operations (derived)
-€513,181
Net result for the year
-€98,601
Depreciation
+€314,903
Receivables within one year
-€41,619
Deferred charges and accrued income
+€1,683
Provisions
-€45,519
Trade debts
+€104,939
Tax, wage and social debts
-€3,791
Other debts
-€778,489
Accrued charges and deferred income
+€33,312
Investment (derived)
+€86,040
Investment in fixed assets (net)
+€86,040
Financing
+€403,977
Debts after one year
+€396,481
Current portion of long-term debt
+€7,496
Cash 2025
€25,231
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,559,564 | €6,175,392 | -€384,172 | -5.9% |
| Fixed assets | 21/28 | €6,024,823 | €5,623,879 | -€400,944 | -6.7% |
| Intangible fixed assets | 21 | €9,680 | - | -€9,680 | |
| Tangible fixed assets | 22/27 | €5,898,343 | €5,456,679 | -€441,664 | -7.5% |
| Land and buildings | 22 | €5,068,706 | €4,758,774 | -€309,933 | -6.1% |
| Plant, machinery and equipment | 23 | €19,542 | €16,327 | -€3,215 | -16.5% |
| Furniture and vehicles | 24 | €42,816 | €18,056 | -€24,760 | -57.8% |
| Leasing and similar rights | 25 | €49,079 | - | -€49,079 | |
| Other tangible fixed assets | 26 | €718,200 | €663,522 | -€54,678 | -7.6% |
| Financial fixed assets | 28 | €116,800 | €167,200 | +€50,400 | +43.2% |
| Current assets | 29/58 | €534,741 | €551,513 | +€16,772 | +3.1% |
| Amounts receivable within one year | 40/41 | €484,525 | €526,143 | +€41,619 | +8.6% |
| Trade receivables | 40 | €228,065 | €317,560 | +€89,495 | +39.2% |
| Other amounts receivable | 41 | €256,460 | €208,583 | -€47,877 | -18.7% |
| Cash at bank and in hand | 54/58 | €48,395 | €25,231 | -€23,163 | -47.9% |
| Deferred charges and accrued income | 490/1 | €1,822 | €138 | -€1,683 | -92.4% |
| Total equity and liabilities | 10/49 | €6,559,564 | €6,175,392 | -€384,172 | -5.9% |
| Equity | 10/15 | €1,035,002 | €936,401 | -€98,601 | -9.5% |
| Contributions | 10/11 | €16,700 | €16,700 | = | 0.0% |
| Reserves | 13 | €1,163,607 | €1,027,049 | -€136,558 | -11.7% |
| Tax-exempt reserves | 132 | €976,607 | €840,049 | -€136,558 | -14.0% |
| Distributable reserves | 133 | €187,000 | €187,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€145,305 | -€107,348 | +€37,957 | +26.1% |
| Provisions and deferred taxes | 16 | €325,536 | €280,016 | -€45,519 | -14.0% |
| Deferred taxes | 168 | €325,536 | €280,016 | -€45,519 | -14.0% |
| Amounts payable | 17/49 | €5,199,026 | €4,958,975 | -€240,051 | -4.6% |
| Amounts payable after more than one year | 17 | €3,461,991 | €3,858,472 | +€396,481 | +11.5% |
| Financial debts | 170/4 | €3,461,991 | €3,102,028 | -€359,963 | -10.4% |
| Other amounts payable | 178/9 | - | €756,444 | +€756,444 | |
| Amounts payable within one year | 42/48 | €1,737,035 | €1,067,190 | -€669,845 | -38.6% |
| Current portion of amounts payable after more than one year | 42 | €321,168 | €328,664 | +€7,496 | +2.3% |
| Trade debts | 44 | €560,807 | €665,747 | +€104,939 | +18.7% |
| Suppliers | 440/4 | €560,807 | €665,747 | +€104,939 | +18.7% |
| Taxes, remuneration and social security | 45 | €33,117 | €29,326 | -€3,791 | -11.4% |
| Taxes | 450/3 | €29,414 | €29,209 | -€206 | -0.7% |
| Remuneration and social security | 454/9 | €3,703 | €117 | -€3,586 | -96.8% |
| Other amounts payable | 47/48 | €821,943 | €43,454 | -€778,489 | -94.7% |
| Accrued charges and deferred income | 492/3 | - | €33,312 | +€33,312 | |
| Non-recurring operating income | 76A | €474,516 | €93,122 | -€381,394 | -80.4% |
| Remuneration, social security and pensions | 62 | €27,295 | €8,228 | -€19,067 | -69.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €348,875 | €314,903 | -€33,972 | -9.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €14,984 | +€14,984 | |
| Other operating charges | 640/8 | €65,282 | €47,708 | -€17,574 | -26.9% |
| Non-recurring operating charges | 66A | €132 | €15,496 | +€15,365 | +11,684% |
| Gross operating margin | 9900 | €940,012 | €378,161 | -€561,851 | -59.8% |
| Operating profit (loss) | 9901 | €498,428 | -€23,158 | -€521,586 | |
| Financial income | 75/76B | €2,189 | €866 | -€1,322 | -60.4% |
| Recurring financial income | 75 | €2,189 | €866 | -€1,322 | -60.4% |
| Financial charges | 65/66B | €137,872 | €107,538 | -€30,333 | -22.0% |
| Recurring financial charges | 65 | €137,872 | €107,538 | -€30,333 | -22.0% |
| Profit (loss) for the period before taxes | 9903 | €362,745 | -€129,831 | -€492,575 | |
| Transfer from deferred taxes | 780 | €23,288 | €45,519 | +€22,231 | +95.5% |
| Income taxes | 67/77 | €261 | €14,290 | +€14,029 | +5,373% |
| Profit (loss) for the period | 9904 | €385,772 | -€98,601 | -€484,373 | |
| Transfer from tax-exempt reserves | 789 | €69,864 | €136,558 | +€66,694 | +95.5% |
| Profit (loss) for the period to be appropriated | 9905 | €455,636 | €37,957 | -€417,679 | -91.7% |
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 14 October 2026 via checked.be.