HFP: 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.
HFP
Largest movements
- Stocks and contracts +€37,508
up €37,508 (+30.2%), from €124,055 to €161,563
- Receivables within one year -€36,882
down €36,882 (-58.4%), from €63,203 to €26,321
of which Trade receivables: -€41,882
- Cash -€26,259
down €26,259 (-27.7%), from €94,722 to €68,462
mainly Stocks and contracts (-€37,508) and Current portion of long-term debt (-€19,618)
- Tangible fixed assets -€11,924
down €11,924 (-52.6%), from €22,666 to €10,741
of which Furniture and vehicles: -€8,579
- Current portion of long-term debt -€19,618
down €19,618 (-86.2%), from €22,762 to €3,144
- Tax, wage and social debts -€18,826
down €18,826 (-27.5%), from €68,556 to €49,730
of which Remuneration and social security: -€12,834
- Trade debts -€6,378
down €6,378 (-6.4%), from €100,175 to €93,797
- Profit (loss) carried forward +€5,648
up €5,648 (+7.5%), from €74,805 to €80,453
- Debts after one year -€3,144
down €3,144 (-38.8%), from €8,111 to €4,967
- Staff costs -€10,233
down €10,233 (-6.7%), from €152,220 to €141,987
- Depreciation -€9,829
down €9,829 (-45.2%), from €21,753 to €11,924
- Gross operating margin -€5,220
down €5,220 (-3.0%), from €171,393 to €166,172
- Financial income -€2,438
down €2,438 (-90.3%), from €2,698 to €261
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 | €306,300 | €267,087 | -€39,213 | -12.8% |
| Fixed assets | 21/28 | €22,666 | €10,741 | -€11,924 | -52.6% |
| Tangible fixed assets | 22/27 | €22,666 | €10,741 | -€11,924 | -52.6% |
| Plant, machinery and equipment | 23 | €3,345 | €0 | -€3,345 | -100% |
| Furniture and vehicles | 24 | €19,321 | €10,741 | -€8,579 | -44.4% |
| Current assets | 29/58 | €283,634 | €256,346 | -€27,289 | -9.6% |
| Stocks and contracts in progress | 3 | €124,055 | €161,563 | +€37,508 | +30.2% |
| Stocks | 30/36 | €124,055 | €161,563 | +€37,508 | +30.2% |
| Amounts receivable within one year | 40/41 | €63,203 | €26,321 | -€36,882 | -58.4% |
| Trade receivables | 40 | €63,203 | €21,321 | -€41,882 | -66.3% |
| Other amounts receivable | 41 | €0 | €5,000 | +€5,000 | |
| Cash at bank and in hand | 54/58 | €94,722 | €68,462 | -€26,259 | -27.7% |
| Deferred charges and accrued income | 490/1 | €1,655 | €0 | -€1,655 | -100% |
| Total equity and liabilities | 10/49 | €306,300 | €267,087 | -€39,213 | -12.8% |
| Equity | 10/15 | €104,805 | €110,453 | +€5,648 | +5.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,805 | €80,453 | +€5,648 | +7.5% |
| Amounts payable | 17/49 | €201,495 | €156,634 | -€44,860 | -22.3% |
| Amounts payable after more than one year | 17 | €8,111 | €4,967 | -€3,144 | -38.8% |
| Financial debts | 170/4 | €8,111 | €4,967 | -€3,144 | -38.8% |
| Amounts payable within one year | 42/48 | €193,384 | €151,667 | -€41,717 | -21.6% |
| Current portion of amounts payable after more than one year | 42 | €22,762 | €3,144 | -€19,618 | -86.2% |
| Trade debts | 44 | €100,175 | €93,797 | -€6,378 | -6.4% |
| Suppliers | 440/4 | €100,175 | €93,797 | -€6,378 | -6.4% |
| Taxes, remuneration and social security | 45 | €68,556 | €49,730 | -€18,826 | -27.5% |
| Taxes | 450/3 | €42,243 | €36,251 | -€5,992 | -14.2% |
| Remuneration and social security | 454/9 | €26,313 | €13,479 | -€12,834 | -48.8% |
| Other amounts payable | 47/48 | €1,890 | €4,996 | +€3,106 | +164% |
| Non-recurring operating income | 76A | €35 | €0 | -€35 | -100% |
| Remuneration, social security and pensions | 62 | €152,220 | €141,987 | -€10,233 | -6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,753 | €11,924 | -€9,829 | -45.2% |
| Other operating charges | 640/8 | €787 | €1,142 | +€356 | +45.2% |
| Gross operating margin | 9900 | €171,393 | €166,172 | -€5,220 | -3.0% |
| Operating profit (loss) | 9901 | -€3,367 | €11,119 | +€14,486 | |
| Financial income | 75/76B | €2,698 | €261 | -€2,438 | -90.3% |
| Recurring financial income | 75 | €2,698 | €261 | -€2,438 | -90.3% |
| Financial charges | 65/66B | €5,126 | €5,269 | +€143 | +2.8% |
| Recurring financial charges | 65 | €5,126 | €5,269 | +€143 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | -€5,794 | €6,111 | +€11,905 | |
| Income taxes | 67/77 | €84 | €464 | +€380 | +453% |
| Profit (loss) for the period | 9904 | -€5,878 | €5,648 | +€11,526 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,878 | €5,648 | +€11,526 |
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 28 October 2026 via checked.be.