Happy People: 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 People
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€42,366
2024 · -€60,495+€18,130
Equity
-€71,554
2024 · -€29,189-€42,366
Cash
€20,268
2024 · €30,182-€9,915
Balance sheet total
€3.6m
2024 · €3.7m-€103,300
Largest movements
Assets
- Tangible fixed assets -€90,514
down €90,514 (-2.5%), from €3.7m to €3.6m
Equity and liabilities
- Debts after one year -€113,188
down €113,188 (-4.1%), from €2.8m to €2.7m
of which Financial debts: -€112,274
- Reserves -€67,241
down €67,241 (-62.7%), from €107,241 to €40,000
Income statement
- Gross operating margin +€18,626
up €18,626 (+11.0%), from €169,184 to €187,811
- Financial charges -€4,044
down €4,044 (-3.6%), from €111,634 to €107,591
- Depreciation +€3,514
up €3,514 (+3.4%), from €104,394 to €107,908
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
-€60,495
Gross operating margin
+€18,626
Depreciation
-€3,514
Other operating charges
-€1,026
Financial income
-€0
Financial charges
+€4,044
Result 2025
-€42,366
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
+€116,442
Investment
-€17,393
Financing
-€108,963
Cash 2024
€30,182
From operations (derived)
+€116,442
Net result for the year
-€42,366
Depreciation
+€107,908
Receivables within one year
+€2,300
Deferred charges and accrued income
+€572
Trade debts
+€24,073
Tax, wage and social debts
+€15
Other debts
+€25,892
Accrued charges and deferred income
-€1,951
Investment (derived)
-€17,393
Investment in fixed assets (net)
-€17,393
Financing
-€108,963
Debts after one year
-€113,188
Current portion of long-term debt
+€4,226
Cash 2025
€20,268
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,698,463 | €3,595,163 | -€103,300 | -2.8% |
| Fixed assets | 21/28 | €3,655,646 | €3,565,132 | -€90,514 | -2.5% |
| Tangible fixed assets | 22/27 | €3,655,646 | €3,565,132 | -€90,514 | -2.5% |
| Land and buildings | 22 | €3,655,646 | €3,565,132 | -€90,514 | -2.5% |
| Current assets | 29/58 | €42,816 | €30,031 | -€12,786 | -29.9% |
| Amounts receivable within one year | 40/41 | €11,396 | €9,097 | -€2,300 | -20.2% |
| Trade receivables | 40 | €11,371 | €9,097 | -€2,275 | -20.0% |
| Other amounts receivable | 41 | €25 | €0 | -€25 | -100% |
| Cash at bank and in hand | 54/58 | €30,182 | €20,268 | -€9,915 | -32.8% |
| Deferred charges and accrued income | 490/1 | €1,238 | €666 | -€572 | -46.2% |
| Total equity and liabilities | 10/49 | €3,698,463 | €3,595,163 | -€103,300 | -2.8% |
| Equity | 10/15 | -€29,189 | -€71,554 | -€42,366 | -145% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €107,241 | €40,000 | -€67,241 | -62.7% |
| Distributable reserves | 133 | €107,241 | €40,000 | -€67,241 | -62.7% |
| Profit (loss) carried forward | 14 | -€186,429 | -€161,554 | +€24,875 | +13.3% |
| Amounts payable | 17/49 | €3,727,651 | €3,666,717 | -€60,934 | -1.6% |
| Amounts payable after more than one year | 17 | €2,772,879 | €2,659,691 | -€113,188 | -4.1% |
| Financial debts | 170/4 | €2,729,129 | €2,616,855 | -€112,274 | -4.1% |
| Other amounts payable | 178/9 | €43,750 | €42,836 | -€914 | -2.1% |
| Amounts payable within one year | 42/48 | €948,966 | €1,003,171 | +€54,205 | +5.7% |
| Current portion of amounts payable after more than one year | 42 | €108,049 | €112,274 | +€4,226 | +3.9% |
| Trade debts | 44 | €36,798 | €60,870 | +€24,073 | +65.4% |
| Suppliers | 440/4 | €36,798 | €60,870 | +€24,073 | +65.4% |
| Taxes, remuneration and social security | 45 | €83 | €98 | +€15 | +18.3% |
| Taxes | 450/3 | €83 | €98 | +€15 | +18.3% |
| Other amounts payable | 47/48 | €804,036 | €829,928 | +€25,892 | +3.2% |
| Accrued charges and deferred income | 492/3 | €5,806 | €3,855 | -€1,951 | -33.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,394 | €107,908 | +€3,514 | +3.4% |
| Other operating charges | 640/8 | €13,652 | €14,678 | +€1,026 | +7.5% |
| Gross operating margin | 9900 | €169,184 | €187,811 | +€18,626 | +11.0% |
| Operating profit (loss) | 9901 | €51,138 | €65,225 | +€14,087 | +27.5% |
| Financial income | 75/76B | €1 | €1 | -€0 | -32.6% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -32.6% |
| Financial charges | 65/66B | €111,634 | €107,591 | -€4,044 | -3.6% |
| Recurring financial charges | 65 | €111,634 | €107,591 | -€4,044 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | -€60,495 | -€42,366 | +€18,130 | +30.0% |
| Profit (loss) for the period | 9904 | -€60,495 | -€42,366 | +€18,130 | +30.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€60,495 | -€42,366 | +€18,130 | +30.0% |
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 30 October 2026 via checked.be.