Happy Place: what changed
What changed
Happy Place
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€50,661
2024 · €163,362-€112,701
Equity
€2.6m
2024 · €2.5m+€50,661
Cash
€266,448
2024 · €114,860+€151,588
Balance sheet total
€3.1m
2024 · €3.1m-€5,041
Largest movements
Assets
- Current investments -€223,762
down €223,762 (-12.4%), from €1.8m to €1.6m
- Cash +€151,588
up €151,588 (+132%), from €114,860 to €266,448
mainly Current investments (+€223,762) and Net result for the year (+€50,661)
- Tangible fixed assets +€45,093
up €45,093 (+4.1%), from €1.1m to €1.1m
of which Land and buildings: +€42,684
Equity and liabilities
- Reserves +€50,661
up €50,661 (+2.0%), from €2.5m to €2.6m
of which Distributable reserves: +€50,661
- Other debts -€32,149
down €32,149 (-20.1%), from €159,861 to €127,712
Income statement
- Gross operating margin -€145,230
down €145,230 (-61.6%), from €235,901 to €90,671
- Taxes -€27,582
down €27,582 (-61.0%), from €45,192 to €17,610
- Financial income +€8,817
up €8,817 (+25.7%), from €34,263 to €43,079
- Financial charges +€2,875
up €2,875 (+19.4%), from €14,815 to €17,690
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€163,362
Gross operating margin
-€145,230
Depreciation
-€830
Other operating charges
-€165
Financial income
+€8,817
Financial charges
-€2,875
Taxes
+€27,582
Result 2025
€50,661
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€40,925
Investment
+€134,315
Financing
-€23,652
Cash 2024
€114,860
From operations (derived)
+€40,925
Net result for the year
+€50,661
Depreciation
+€44,353
Receivables within one year
-€22,039
Trade debts
+€2,355
Tax, wage and social debts
-€2,256
Other debts
-€32,149
Investment (derived)
+€134,315
Investment in fixed assets (net)
-€89,447
Current investments
+€223,762
Financing
-€23,652
Debts after one year
-€24,238
Current portion of long-term debt
+€587
Cash 2025
€266,448
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,093,289 | €3,088,248 | -€5,041 | -0.2% |
| Fixed assets | 21/28 | €1,103,500 | €1,148,594 | +€45,093 | +4.1% |
| Tangible fixed assets | 22/27 | €1,103,500 | €1,148,594 | +€45,093 | +4.1% |
| Land and buildings | 22 | €1,103,500 | €1,146,184 | +€42,684 | +3.9% |
| Plant, machinery and equipment | 23 | - | €2,409 | +€2,409 | |
| Current assets | 29/58 | €1,989,789 | €1,939,654 | -€50,134 | -2.5% |
| Amounts receivable within one year | 40/41 | €77,573 | €99,612 | +€22,039 | +28.4% |
| Other amounts receivable | 41 | €77,573 | €99,612 | +€22,039 | +28.4% |
| Current investments | 50/53 | €1,797,355 | €1,573,594 | -€223,762 | -12.4% |
| Cash at bank and in hand | 54/58 | €114,860 | €266,448 | +€151,588 | +132% |
| Total equity and liabilities | 10/49 | €3,093,289 | €3,088,248 | -€5,041 | -0.2% |
| Equity | 10/15 | €2,517,592 | €2,568,252 | +€50,661 | +2.0% |
| Contributions | 10/11 | €13,055 | €13,055 | = | 0.0% |
| Contributions outside capital | 11 | €13,055 | - | -€13,055 | |
| Share premium | 1100/10 | €13,055 | - | -€13,055 | |
| Reserves | 13 | €2,504,536 | €2,555,197 | +€50,661 | +2.0% |
| Non-distributable reserves | 130/1 | €1,306 | €1,306 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,306 | €1,306 | = | 0.0% |
| Distributable reserves | 133 | €2,503,231 | €2,553,891 | +€50,661 | +2.0% |
| Amounts payable | 17/49 | €575,697 | €519,996 | -€55,701 | -9.7% |
| Amounts payable after more than one year | 17 | €323,365 | €299,126 | -€24,238 | -7.5% |
| Financial debts | 170/4 | €323,365 | €299,126 | -€24,238 | -7.5% |
| Amounts payable within one year | 42/48 | €252,333 | €220,870 | -€31,463 | -12.5% |
| Current portion of amounts payable after more than one year | 42 | €23,652 | €24,238 | +€587 | +2.5% |
| Trade debts | 44 | €1,053 | €3,408 | +€2,355 | +224% |
| Suppliers | 440/4 | €1,053 | €3,408 | +€2,355 | +224% |
| Taxes, remuneration and social security | 45 | €67,768 | €65,511 | -€2,256 | -3.3% |
| Taxes | 450/3 | €67,768 | €63,511 | -€4,256 | -6.3% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €159,861 | €127,712 | -€32,149 | -20.1% |
| Non-recurring operating income | 76A | €27,918 | - | -€27,918 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,523 | €44,353 | +€830 | +1.9% |
| Other operating charges | 640/8 | €3,272 | €3,437 | +€165 | +5.0% |
| Gross operating margin | 9900 | €235,901 | €90,671 | -€145,230 | -61.6% |
| Operating profit (loss) | 9901 | €189,106 | €42,881 | -€146,225 | -77.3% |
| Financial income | 75/76B | €34,263 | €43,079 | +€8,817 | +25.7% |
| Recurring financial income | 75 | €34,263 | €43,079 | +€8,817 | +25.7% |
| Financial charges | 65/66B | €14,815 | €17,690 | +€2,875 | +19.4% |
| Recurring financial charges | 65 | €14,815 | €17,690 | +€2,875 | +19.4% |
| Profit (loss) for the period before taxes | 9903 | €208,554 | €68,271 | -€140,283 | -67.3% |
| Income taxes | 67/77 | €45,192 | €17,610 | -€27,582 | -61.0% |
| Profit (loss) for the period | 9904 | €163,362 | €50,661 | -€112,701 | -69.0% |
| Profit (loss) for the period to be appropriated | 9905 | €163,362 | €50,661 | -€112,701 | -69.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.