HAPRO-PigFarm: 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.
HAPRO-PigFarm
Largest movements
- Tangible fixed assets -€227,603
down €227,603 (-12.0%), from €1.9m to €1.7m
of which Land and buildings: -€163,658
- Other debts -€168,458
down €168,458 (-56.5%), from €298,175 to €129,717
- Debts after one year -€49,997
down €49,997 (-4.6%), from €1.1m to €1.0m
- Gross operating margin -€60,511
down €60,511 (-15.0%), from €403,649 to €343,137
- Depreciation -€34,406
down €34,406 (-13.1%), from €262,009 to €227,603
- Financial charges -€28,595
down €28,595 (-28.3%), from €100,866 to €72,272
- Other operating charges +€7,808
up €7,808 (+25.1%), from €31,108 to €38,915
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,027,445 | €2,802,916 | -€224,529 | -7.4% |
| Fixed assets | 21/28 | €3,021,531 | €2,794,348 | -€227,183 | -7.5% |
| Tangible fixed assets | 22/27 | €1,891,208 | €1,663,605 | -€227,603 | -12.0% |
| Land and buildings | 22 | €1,609,128 | €1,445,469 | -€163,658 | -10.2% |
| Plant, machinery and equipment | 23 | €160,639 | €113,200 | -€47,439 | -29.5% |
| Other tangible fixed assets | 26 | €121,441 | €104,935 | -€16,506 | -13.6% |
| Financial fixed assets | 28 | €1,130,323 | €1,130,743 | +€420 | 0.0% |
| Current assets | 29/58 | €5,914 | €8,568 | +€2,654 | +44.9% |
| Amounts receivable within one year | 40/41 | €5,914 | €6,483 | +€569 | +9.6% |
| Trade receivables | 40 | €848 | €758 | -€90 | -10.7% |
| Other amounts receivable | 41 | €5,066 | €5,725 | +€659 | +13.0% |
| Deferred charges and accrued income | 490/1 | - | €2,085 | +€2,085 | |
| Total equity and liabilities | 10/49 | €3,027,445 | €2,802,916 | -€224,529 | -7.4% |
| Equity | 10/15 | €1,289,732 | €1,294,079 | +€4,347 | +0.3% |
| Contributions | 10/11 | €1,379,000 | €1,379,000 | = | 0.0% |
| Reserves | 13 | €175,760 | €175,760 | = | 0.0% |
| Tax-exempt reserves | 132 | €35,633 | €35,633 | = | 0.0% |
| Distributable reserves | 133 | €140,127 | €140,127 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€265,028 | -€260,682 | +€4,347 | +1.6% |
| Amounts payable | 17/49 | €1,737,713 | €1,508,837 | -€228,876 | -13.2% |
| Amounts payable after more than one year | 17 | €1,086,703 | €1,036,706 | -€49,997 | -4.6% |
| Financial debts | 170/4 | €1,086,703 | €1,036,706 | -€49,997 | -4.6% |
| Amounts payable within one year | 42/48 | €650,951 | €472,092 | -€178,859 | -27.5% |
| Current portion of amounts payable after more than one year | 42 | €49,997 | €49,997 | = | 0.0% |
| Trade debts | 44 | €302,779 | €285,917 | -€16,862 | -5.6% |
| Suppliers | 440/4 | €302,779 | €285,917 | -€16,862 | -5.6% |
| Taxes, remuneration and social security | 45 | - | €6,461 | +€6,461 | |
| Taxes | 450/3 | - | €6,461 | +€6,461 | |
| Other amounts payable | 47/48 | €298,175 | €129,717 | -€168,458 | -56.5% |
| Accrued charges and deferred income | 492/3 | €59 | €39 | -€20 | -33.3% |
| Non-recurring operating income | 76A | €60,194 | €1,537 | -€58,657 | -97.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €262,009 | €227,603 | -€34,406 | -13.1% |
| Other operating charges | 640/8 | €31,108 | €38,915 | +€7,808 | +25.1% |
| Gross operating margin | 9900 | €403,649 | €343,137 | -€60,511 | -15.0% |
| Operating profit (loss) | 9901 | €110,532 | €76,619 | -€33,913 | -30.7% |
| Financial charges | 65/66B | €100,866 | €72,272 | -€28,595 | -28.3% |
| Recurring financial charges | 65 | €100,866 | €72,272 | -€28,595 | -28.3% |
| Profit (loss) for the period before taxes | 9903 | €9,666 | €4,347 | -€5,319 | -55.0% |
| Transfer from deferred taxes | 780 | €329 | - | -€329 | |
| Profit (loss) for the period | 9904 | €9,995 | €4,347 | -€5,648 | -56.5% |
| Transfer from tax-exempt reserves | 789 | €987 | - | -€987 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,982 | €4,347 | -€6,635 | -60.4% |
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 13 October 2026 via checked.be.