HAPPY JP: 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.
HAPPY JP
Largest movements
- Receivables within one year -€182,215
down €182,215 (-67.0%), from €272,023 to €89,808
of which Trade receivables: -€188,935
- Cash +€66,735
up €66,735 (+98.2%), from €67,968 to €134,703
mainly Receivables within one year (+€182,215) and Net result for the year (+€97,064)
- Tangible fixed assets -€60,745
down €60,745 (-7.8%), from €775,520 to €714,774
- Current investments +€60,000
up €60,000 (+70.6%), from €85,000 to €145,000
- Other debts -€172,560
down €172,560 (-80.9%), from €213,287 to €40,727
- Reserves +€97,064
up €97,064 (+61.5%), from €157,828 to €254,891
- Debts after one year -€50,282
down €50,282 (-8.6%), from €581,875 to €531,594
of which Financial debts: -€27,832
- Provisions -€113,010
down €113,010 (-96.8%), from €116,702 to €3,692
- Financial charges +€42,729
up €42,729 (+53.9%), from €79,233 to €121,962
- Gross operating margin +€13,153
up €13,153 (+4.0%), from €328,817 to €341,970
- Depreciation +€8,368
up €8,368 (+13.9%), from €60,253 to €68,621
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 | €1,202,266 | €1,085,704 | -€116,562 | -9.7% |
| Formation expenses | 20 | €861 | €593 | -€269 | -31.2% |
| Fixed assets | 21/28 | €775,520 | €714,774 | -€60,745 | -7.8% |
| Tangible fixed assets | 22/27 | €775,520 | €714,774 | -€60,745 | -7.8% |
| Land and buildings | 22 | €581,036 | €563,495 | -€17,540 | -3.0% |
| Plant, machinery and equipment | 23 | €101,794 | €80,908 | -€20,886 | -20.5% |
| Furniture and vehicles | 24 | €92,690 | €70,371 | -€22,319 | -24.1% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €425,885 | €370,337 | -€55,548 | -13.0% |
| Amounts receivable within one year | 40/41 | €272,023 | €89,808 | -€182,215 | -67.0% |
| Trade receivables | 40 | €266,625 | €77,689 | -€188,935 | -70.9% |
| Other amounts receivable | 41 | €5,398 | €12,119 | +€6,720 | +124.5% |
| Current investments | 50/53 | €85,000 | €145,000 | +€60,000 | +70.6% |
| Cash at bank and in hand | 54/58 | €67,968 | €134,703 | +€66,735 | +98.2% |
| Deferred charges and accrued income | 490/1 | €894 | €825 | -€69 | -7.7% |
| Total equity and liabilities | 10/49 | €1,202,266 | €1,085,704 | -€116,562 | -9.7% |
| Equity | 10/15 | €223,028 | €320,091 | +€97,064 | +43.5% |
| Contributions | 10/11 | €65,200 | €65,200 | = | 0.0% |
| Reserves | 13 | €157,828 | €254,891 | +€97,064 | +61.5% |
| Distributable reserves | 133 | €157,828 | €254,891 | +€97,064 | +61.5% |
| Provisions and deferred taxes | 16 | €116,702 | €120,394 | +€3,692 | +3.2% |
| Provisions for liabilities and charges | 160/5 | €116,702 | €120,394 | +€3,692 | +3.2% |
| Other liabilities and charges | 164/5 | €116,702 | €120,394 | +€3,692 | +3.2% |
| Amounts payable | 17/49 | €862,536 | €645,219 | -€217,317 | -25.2% |
| Amounts payable after more than one year | 17 | €581,875 | €531,594 | -€50,282 | -8.6% |
| Financial debts | 170/4 | €261,347 | €233,515 | -€27,832 | -10.6% |
| Other amounts payable | 178/9 | €320,528 | €298,078 | -€22,450 | -7.0% |
| Amounts payable within one year | 42/48 | €279,791 | €112,657 | -€167,133 | -59.7% |
| Current portion of amounts payable after more than one year | 42 | €26,686 | €27,832 | +€1,146 | +4.3% |
| Financial debts | 43 | €1,005 | €3,996 | +€2,991 | +297.7% |
| Credit institutions | 430/8 | - | €2,943 | +€2,943 | |
| Other loans | 439 | €1,005 | €1,052 | +€48 | +4.7% |
| Trade debts | 44 | €4,025 | €5,057 | +€1,032 | +25.6% |
| Suppliers | 440/4 | €4,025 | €5,057 | +€1,032 | +25.6% |
| Taxes, remuneration and social security | 45 | €34,788 | €35,045 | +€258 | +0.7% |
| Taxes | 450/3 | €34,788 | €35,045 | +€258 | +0.7% |
| Other amounts payable | 47/48 | €213,287 | €40,727 | -€172,560 | -80.9% |
| Accrued charges and deferred income | 492/3 | €870 | €968 | +€98 | +11.2% |
| Non-recurring operating income | 76A | €1,320 | €0 | -€1,320 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,253 | €68,621 | +€8,368 | +13.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €116,702 | €3,692 | -€113,010 | -96.8% |
| Other operating charges | 640/8 | €6,030 | €2,989 | -€3,041 | -50.4% |
| Gross operating margin | 9900 | €328,817 | €341,970 | +€13,153 | +4.0% |
| Operating profit (loss) | 9901 | €145,833 | €266,669 | +€120,836 | +82.9% |
| Financial income | 75/76B | €3,163 | €4,492 | +€1,328 | +42.0% |
| Recurring financial income | 75 | €3,163 | €4,492 | +€1,328 | +42.0% |
| Financial charges | 65/66B | €79,233 | €121,962 | +€42,729 | +53.9% |
| Recurring financial charges | 65 | €79,233 | €121,962 | +€42,729 | +53.9% |
| Profit (loss) for the period before taxes | 9903 | €69,764 | €149,198 | +€79,434 | +113.9% |
| Income taxes | 67/77 | €49,848 | €52,134 | +€2,287 | +4.6% |
| Profit (loss) for the period | 9904 | €19,916 | €97,064 | +€77,148 | +387.4% |
| Profit (loss) for the period to be appropriated | 9905 | €19,916 | €97,064 | +€77,148 | +387.4% |
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 12 October 2026 via checked.be.