Happy Paddock: 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 Paddock
Largest movements
- Cash -€24,768
down €24,768 (-30.4%), from €81,471 to €56,703
mainly Investment in fixed assets (net) (-€8,750) and Trade debts (-€7,557)
- Stocks and contracts +€3,525
up €3,525 (+1.8%), from €194,289 to €197,814
- Trade debts -€7,557
down €7,557 (-38.4%), from €19,678 to €12,121
- Profit (loss) carried forward -€6,212
new in 2025: -€6,212
- Current portion of long-term debt -€4,570
down €4,570 (-83.2%), from €5,489 to €920
- Tax, wage and social debts -€3,131
down €3,131 (-83.9%), from €3,731 to €600
- Gross operating margin -€30,551
down €30,551 (-84.0%), from €36,366 to €5,815
- Taxes -€6,717
no longer reported in 2025 (was €6,717)
- Other operating charges +€1,031
up €1,031 (+221.7%), from €465 to €1,496
- Depreciation +€420
up €420 (+4.2%), from €10,002 to €10,421
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 | €311,522 | €291,547 | -€19,975 | -6.4% |
| Fixed assets | 21/28 | €18,144 | €16,472 | -€1,672 | -9.2% |
| Tangible fixed assets | 22/27 | €18,009 | €16,337 | -€1,672 | -9.3% |
| Plant, machinery and equipment | 23 | €10,656 | €15,275 | +€4,619 | +43.3% |
| Furniture and vehicles | 24 | €7,353 | €1,062 | -€6,291 | -85.6% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €293,378 | €275,075 | -€18,303 | -6.2% |
| Stocks and contracts in progress | 3 | €194,289 | €197,814 | +€3,525 | +1.8% |
| Stocks | 30/36 | €194,289 | €197,814 | +€3,525 | +1.8% |
| Amounts receivable within one year | 40/41 | €17,618 | €20,432 | +€2,814 | +16.0% |
| Trade receivables | 40 | €10,324 | €4,156 | -€6,167 | -59.7% |
| Other amounts receivable | 41 | €7,294 | €16,275 | +€8,981 | +123.1% |
| Cash at bank and in hand | 54/58 | €81,471 | €56,703 | -€24,768 | -30.4% |
| Deferred charges and accrued income | 490/1 | - | €126 | +€126 | |
| Total equity and liabilities | 10/49 | €311,522 | €291,547 | -€19,975 | -6.4% |
| Equity | 10/15 | €93,959 | €87,747 | -€6,212 | -6.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €92,959 | €92,959 | = | 0.0% |
| Distributable reserves | 133 | €92,959 | €92,959 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€6,212 | -€6,212 | |
| Amounts payable | 17/49 | €217,563 | €203,800 | -€13,762 | -6.3% |
| Amounts payable after more than one year | 17 | €920 | - | -€920 | |
| Financial debts | 170/4 | €920 | - | -€920 | |
| Amounts payable within one year | 42/48 | €216,643 | €203,800 | -€12,843 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €5,489 | €920 | -€4,570 | -83.2% |
| Trade debts | 44 | €19,678 | €12,121 | -€7,557 | -38.4% |
| Suppliers | 440/4 | €19,678 | €12,121 | -€7,557 | -38.4% |
| Taxes, remuneration and social security | 45 | €3,731 | €600 | -€3,131 | -83.9% |
| Taxes | 450/3 | €3,731 | €600 | -€3,131 | -83.9% |
| Other amounts payable | 47/48 | €187,745 | €190,159 | +€2,414 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,002 | €10,421 | +€420 | +4.2% |
| Other operating charges | 640/8 | €465 | €1,496 | +€1,031 | +221.7% |
| Gross operating margin | 9900 | €36,366 | €5,815 | -€30,551 | -84.0% |
| Operating profit (loss) | 9901 | €25,899 | -€6,102 | -€32,002 | |
| Financial income | 75/76B | €6 | €5 | -€0 | -8.2% |
| Recurring financial income | 75 | €6 | €5 | -€0 | -8.2% |
| Financial charges | 65/66B | €149 | €115 | -€34 | -23.0% |
| Recurring financial charges | 65 | €149 | €115 | -€34 | -23.0% |
| Profit (loss) for the period before taxes | 9903 | €25,756 | -€6,212 | -€31,968 | |
| Income taxes | 67/77 | €6,717 | - | -€6,717 | |
| Profit (loss) for the period | 9904 | €19,039 | -€6,212 | -€25,251 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,039 | -€6,212 | -€25,251 |
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 1 October 2026 via checked.be.