HAPPY TRADING: 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 TRADING
Largest movements
- Receivables within one year -€5,538
down €5,538 (-87.8%), from €6,307 to €769
of which Trade receivables: -€4,536
- Stocks and contracts -€5,305
down €5,305 (-16.9%), from €31,456 to €26,151
- Cash -€3,295
down €3,295 (-28.2%), from €11,671 to €8,376
mainly Net result for the year (-€11,191) and Other debts (-€1,803)
- Tangible fixed assets -€697
down €697 (-30.1%), from €2,318 to €1,622
of which Furniture and vehicles: -€445
- Profit (loss) carried forward -€11,191
down €11,191 (-71.2%), from €15,710 to €4,519
- Other debts -€1,803
down €1,803 (-8.7%), from €20,833 to €19,030
- Trade debts -€1,522
down €1,522 (-61.3%), from €2,483 to €961
- Tax, wage and social debts -€708
down €708 (-22.7%), from €3,125 to €2,417
- Gross operating margin -€12,025
down €12,025, from €2,216 to -€9,809
- Other operating charges -€132
down €132 (-20.7%), from €638 to €506
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 | €52,150 | €36,926 | -€15,224 | -29.2% |
| Fixed assets | 21/28 | €2,318 | €1,622 | -€697 | -30.1% |
| Tangible fixed assets | 22/27 | €2,318 | €1,622 | -€697 | -30.1% |
| Plant, machinery and equipment | 23 | €1,731 | €1,479 | -€252 | -14.6% |
| Furniture and vehicles | 24 | €587 | €143 | -€445 | -75.7% |
| Current assets | 29/58 | €49,832 | €35,305 | -€14,527 | -29.2% |
| Stocks and contracts in progress | 3 | €31,456 | €26,151 | -€5,305 | -16.9% |
| Stocks | 30/36 | €31,456 | €26,151 | -€5,305 | -16.9% |
| Amounts receivable within one year | 40/41 | €6,307 | €769 | -€5,538 | -87.8% |
| Trade receivables | 40 | €5,305 | €769 | -€4,536 | -85.5% |
| Other amounts receivable | 41 | €1,002 | - | -€1,002 | |
| Cash at bank and in hand | 54/58 | €11,671 | €8,376 | -€3,295 | -28.2% |
| Deferred charges and accrued income | 490/1 | €398 | €9 | -€389 | -97.7% |
| Total equity and liabilities | 10/49 | €52,150 | €36,926 | -€15,224 | -29.2% |
| Equity | 10/15 | €25,710 | €14,519 | -€11,191 | -43.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,710 | €4,519 | -€11,191 | -71.2% |
| Amounts payable | 17/49 | €26,440 | €22,407 | -€4,033 | -15.3% |
| Amounts payable within one year | 42/48 | €26,440 | €22,407 | -€4,033 | -15.3% |
| Trade debts | 44 | €2,483 | €961 | -€1,522 | -61.3% |
| Suppliers | 440/4 | €2,483 | €961 | -€1,522 | -61.3% |
| Taxes, remuneration and social security | 45 | €3,125 | €2,417 | -€708 | -22.7% |
| Taxes | 450/3 | €3,125 | €2,417 | -€708 | -22.7% |
| Other amounts payable | 47/48 | €20,833 | €19,030 | -€1,803 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €697 | €697 | = | 0.0% |
| Other operating charges | 640/8 | €638 | €506 | -€132 | -20.7% |
| Gross operating margin | 9900 | €2,216 | -€9,809 | -€12,025 | |
| Operating profit (loss) | 9901 | €881 | -€11,011 | -€11,892 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €122 | €179 | +€58 | +47.4% |
| Recurring financial charges | 65 | €122 | €179 | +€58 | +47.4% |
| Profit (loss) for the period before taxes | 9903 | €759 | -€11,191 | -€11,950 | |
| Income taxes | 67/77 | €11 | - | -€11 | |
| Profit (loss) for the period | 9904 | €748 | -€11,191 | -€11,939 | |
| Profit (loss) for the period to be appropriated | 9905 | €748 | -€11,191 | -€11,939 |
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 23 October 2026 via checked.be.