HASPIE: 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.
HASPIE
Largest movements
- Current investments -€2.3m
down €2.3m (-47.3%), from €4.9m to €2.6m
- Stocks and contracts +€155,218
up €155,218 (+4.8%), from €3.2m to €3.4m
- Other debts -€2.2m
down €2.2m (-42.1%), from €5.2m to €3.0m
- Financial income -€113,740
down €113,740 (-57.4%), from €198,000 to €84,259
- Gross operating margin +€66,695
up €66,695 (+56.9%), from €117,280 to €183,976
- Taxes -€11,787
down €11,787 (-56.6%), from €20,826 to €9,039
- Financial charges +€11,564
up €11,564 (+5.9%), from €196,155 to €207,719
- Other operating charges -€11,463
down €11,463 (-48.4%), from €23,668 to €12,205
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 | €8,305,994 | €6,110,469 | -€2.2m | -26.4% |
| Fixed assets | 21/28 | €39,854 | €27,702 | -€12,153 | -30.5% |
| Tangible fixed assets | 22/27 | €39,854 | €27,702 | -€12,153 | -30.5% |
| Furniture and vehicles | 24 | €39,854 | €27,702 | -€12,153 | -30.5% |
| Current assets | 29/58 | €8,266,140 | €6,082,767 | -€2.2m | -26.4% |
| Stocks and contracts in progress | 3 | €3,244,800 | €3,400,018 | +€155,218 | +4.8% |
| Stocks | 30/36 | €3,244,800 | €3,400,018 | +€155,218 | +4.8% |
| Amounts receivable within one year | 40/41 | €94,186 | €72,390 | -€21,796 | -23.1% |
| Trade receivables | 40 | €39,818 | €40,157 | +€339 | +0.9% |
| Other amounts receivable | 41 | €54,368 | €32,233 | -€22,135 | -40.7% |
| Current investments | 50/53 | €4,910,000 | €2,586,981 | -€2.3m | -47.3% |
| Cash at bank and in hand | 54/58 | €16,273 | €23,378 | +€7,105 | +43.7% |
| Deferred charges and accrued income | 490/1 | €880 | - | -€880 | |
| Total equity and liabilities | 10/49 | €8,305,994 | €6,110,469 | -€2.2m | -26.4% |
| Equity | 10/15 | €2,915,123 | €2,942,241 | +€27,118 | +0.9% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €165,600 | €165,600 | = | 0.0% |
| Distributable reserves | 133 | €165,600 | €165,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,718,523 | €2,745,641 | +€27,118 | +1.0% |
| Amounts payable | 17/49 | €5,390,871 | €3,168,228 | -€2.2m | -41.2% |
| Amounts payable within one year | 42/48 | €5,253,887 | €3,091,257 | -€2.2m | -41.2% |
| Trade debts | 44 | €10,957 | €24,823 | +€13,866 | +127% |
| Suppliers | 440/4 | €10,957 | €24,823 | +€13,866 | +127% |
| Taxes, remuneration and social security | 45 | €58,707 | €62,212 | +€3,504 | +6.0% |
| Taxes | 450/3 | €58,707 | €62,212 | +€3,504 | +6.0% |
| Other amounts payable | 47/48 | €5,184,223 | €3,004,223 | -€2.2m | -42.1% |
| Accrued charges and deferred income | 492/3 | €136,984 | €76,971 | -€60,013 | -43.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,153 | €12,153 | = | 0.0% |
| Other operating charges | 640/8 | €23,668 | €12,205 | -€11,463 | -48.4% |
| Gross operating margin | 9900 | €117,280 | €183,976 | +€66,695 | +56.9% |
| Operating profit (loss) | 9901 | €81,460 | €159,618 | +€78,158 | +95.9% |
| Financial income | 75/76B | €198,000 | €84,259 | -€113,740 | -57.4% |
| Recurring financial income | 75 | €198,000 | €84,259 | -€113,740 | -57.4% |
| Financial charges | 65/66B | €196,155 | €207,719 | +€11,564 | +5.9% |
| Recurring financial charges | 65 | €196,155 | €207,719 | +€11,564 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €83,304 | €36,158 | -€47,147 | -56.6% |
| Income taxes | 67/77 | €20,826 | €9,039 | -€11,787 | -56.6% |
| Profit (loss) for the period | 9904 | €62,478 | €27,118 | -€35,360 | -56.6% |
| Profit (loss) for the period to be appropriated | 9905 | €62,478 | €27,118 | -€35,360 | -56.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.