HAPPY N18: 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 N18
Largest movements
- Cash +€59,901
up €59,901 (+199%), from €30,158 to €90,059
mainly Net result for the year (+€59,870) and Depreciation (+€54,094)
- Intangible fixed assets -€30,000
down €30,000 (-10.9%), from €276,393 to €246,393
- Tangible fixed assets -€23,343
down €23,343 (-3.2%), from €725,022 to €701,679
of which Land and buildings: -€22,305
- Profit (loss) carried forward +€59,870
up €59,870, from -€16,241 to €43,629
- Debts after one year -€48,886
down €48,886 (-7.1%), from €687,605 to €638,719
- Gross operating margin +€104,945
up €104,945 (+51.8%), from €202,680 to €307,625
- Taxes +€12,663
new in 2025: €12,663
- Depreciation +€12,092
up €12,092 (+28.8%), from €42,003 to €54,094
- Staff costs +€5,133
up €5,133 (+3.6%), from €141,683 to €146,816
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 | €1,040,066 | €1,050,108 | +€10,042 | +1.0% |
| Fixed assets | 21/28 | €1,001,416 | €948,073 | -€53,343 | -5.3% |
| Intangible fixed assets | 21 | €276,393 | €246,393 | -€30,000 | -10.9% |
| Tangible fixed assets | 22/27 | €725,022 | €701,679 | -€23,343 | -3.2% |
| Land and buildings | 22 | €718,704 | €696,398 | -€22,305 | -3.1% |
| Plant, machinery and equipment | 23 | €5,871 | €5,022 | -€849 | -14.5% |
| Furniture and vehicles | 24 | €448 | €259 | -€189 | -42.2% |
| Current assets | 29/58 | €38,650 | €102,035 | +€63,385 | +164% |
| Stocks and contracts in progress | 3 | €6,539 | €5,899 | -€640 | -9.8% |
| Stocks | 30/36 | €6,539 | €5,899 | -€640 | -9.8% |
| Amounts receivable within one year | 40/41 | €1,953 | €6,077 | +€4,124 | +211% |
| Trade receivables | 40 | €1,953 | €5,977 | +€4,024 | +206% |
| Other amounts receivable | 41 | - | €100 | +€100 | |
| Cash at bank and in hand | 54/58 | €30,158 | €90,059 | +€59,901 | +199% |
| Total equity and liabilities | 10/49 | €1,040,066 | €1,050,108 | +€10,042 | +1.0% |
| Equity | 10/15 | -€6,241 | €53,629 | +€59,870 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,241 | €43,629 | +€59,870 | |
| Amounts payable | 17/49 | €1,046,306 | €996,478 | -€49,828 | -4.8% |
| Amounts payable after more than one year | 17 | €687,605 | €638,719 | -€48,886 | -7.1% |
| Financial debts | 170/4 | €687,605 | €638,719 | -€48,886 | -7.1% |
| Amounts payable within one year | 42/48 | €358,702 | €357,759 | -€942 | -0.3% |
| Trade debts | 44 | €16,999 | €20,768 | +€3,769 | +22.2% |
| Suppliers | 440/4 | €16,999 | €20,768 | +€3,769 | +22.2% |
| Taxes, remuneration and social security | 45 | €27,824 | €22,192 | -€5,632 | -20.2% |
| Taxes | 450/3 | €2,917 | €15,931 | +€13,014 | +446% |
| Remuneration and social security | 454/9 | €24,908 | €6,261 | -€18,647 | -74.9% |
| Other amounts payable | 47/48 | €313,878 | €314,799 | +€921 | +0.3% |
| Remuneration, social security and pensions | 62 | €141,683 | €146,816 | +€5,133 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,003 | €54,094 | +€12,092 | +28.8% |
| Other operating charges | 640/8 | €3,098 | €2,019 | -€1,079 | -34.8% |
| Gross operating margin | 9900 | €202,680 | €307,625 | +€104,945 | +51.8% |
| Operating profit (loss) | 9901 | €15,897 | €104,696 | +€88,799 | +559% |
| Financial income | 75/76B | €422 | €12 | -€410 | -97.2% |
| Recurring financial income | 75 | €422 | €12 | -€410 | -97.2% |
| Financial charges | 65/66B | €32,560 | €32,175 | -€384 | -1.2% |
| Recurring financial charges | 65 | €32,560 | €32,175 | -€384 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | -€16,241 | €72,533 | +€88,774 | |
| Income taxes | 67/77 | - | €12,663 | +€12,663 | |
| Profit (loss) for the period | 9904 | -€16,241 | €59,870 | +€76,111 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,241 | €59,870 | +€76,111 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.