HiPas: what changed
HiPas
Largest movements
- Receivables within one year -€21,412
down €21,412 (-23.3%), from €91,797 to €70,386
of which Trade receivables: -€21,521
- Cash -€12,299
down €12,299 (-13.2%), from €92,837 to €80,538
mainly Contributions, distributions and other (-€90,676) and Investment in fixed assets (net) (-€30,796)
- Reserves -€48,295
down €48,295 (-33.5%), from €144,091 to €95,796
of which Distributable reserves: -€48,295
- Tax, wage and social debts +€21,629
up €21,629 (+36.2%), from €59,736 to €81,365
of which Taxes: +€14,821
- Other debts -€2,972
down €2,972 (-42.5%), from €7,000 to €4,028
- Trade debts -€2,305
down €2,305 (-30.5%), from €7,553 to €5,248
- Gross operating margin +€88,180
up €88,180 (+25.4%), from €346,703 to €434,882
- Staff costs +€61,588
up €61,588 (+22.1%), from €278,646 to €340,234
- Taxes +€8,323
up €8,323 (+106%), from €7,875 to €16,197
- Write-downs +€4,664
new in 2025: €4,664
- Other operating charges -€4,618
down €4,618 (-55.8%), from €8,277 to €3,659
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €229,880 | €197,936 | -€31,944 | -13.9% |
| Fixed assets | 21/28 | €40,067 | €42,311 | +€2,244 | +5.6% |
| Tangible fixed assets | 22/27 | €40,037 | €42,281 | +€2,244 | +5.6% |
| Furniture and vehicles | 24 | €40,037 | €42,281 | +€2,244 | +5.6% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €189,813 | €155,625 | -€34,188 | -18.0% |
| Amounts receivable within one year | 40/41 | €91,797 | €70,386 | -€21,412 | -23.3% |
| Trade receivables | 40 | €89,695 | €68,174 | -€21,521 | -24.0% |
| Other amounts receivable | 41 | €2,103 | €2,212 | +€109 | +5.2% |
| Cash at bank and in hand | 54/58 | €92,837 | €80,538 | -€12,299 | -13.2% |
| Deferred charges and accrued income | 490/1 | €5,179 | €4,701 | -€478 | -9.2% |
| Total equity and liabilities | 10/49 | €229,880 | €197,936 | -€31,944 | -13.9% |
| Equity | 10/15 | €153,291 | €104,996 | -€48,295 | -31.5% |
| Contributions | 10/11 | €9,200 | €9,200 | = | 0.0% |
| Reserves | 13 | €144,091 | €95,796 | -€48,295 | -33.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €142,231 | €93,936 | -€48,295 | -34.0% |
| Amounts payable | 17/49 | €76,589 | €92,940 | +€16,351 | +21.3% |
| Amounts payable within one year | 42/48 | €74,289 | €90,640 | +€16,351 | +22.0% |
| Trade debts | 44 | €7,553 | €5,248 | -€2,305 | -30.5% |
| Suppliers | 440/4 | €7,553 | €5,248 | -€2,305 | -30.5% |
| Taxes, remuneration and social security | 45 | €59,736 | €81,365 | +€21,629 | +36.2% |
| Taxes | 450/3 | €16,924 | €31,744 | +€14,821 | +87.6% |
| Remuneration and social security | 454/9 | €42,813 | €49,620 | +€6,808 | +15.9% |
| Other amounts payable | 47/48 | €7,000 | €4,028 | -€2,972 | -42.5% |
| Accrued charges and deferred income | 492/3 | €2,300 | €2,300 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €278,646 | €340,234 | +€61,588 | +22.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,102 | €28,552 | +€2,450 | +9.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,664 | +€4,664 | |
| Other operating charges | 640/8 | €8,277 | €3,659 | -€4,618 | -55.8% |
| Gross operating margin | 9900 | €346,703 | €434,882 | +€88,180 | +25.4% |
| Operating profit (loss) | 9901 | €33,677 | €57,773 | +€24,095 | +71.5% |
| Financial income | 75/76B | €0 | €992 | +€992 | +1,101,944% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +11.1% |
| Non-recurring financial income | 76B | - | €992 | +€992 | |
| Financial charges | 65/66B | €1,927 | €187 | -€1,740 | -90.3% |
| Recurring financial charges | 65 | €1,927 | €187 | -€1,740 | -90.3% |
| Profit (loss) for the period before taxes | 9903 | €31,750 | €58,578 | +€26,828 | +84.5% |
| Income taxes | 67/77 | €7,875 | €16,197 | +€8,323 | +106% |
| Profit (loss) for the period | 9904 | €23,876 | €42,381 | +€18,505 | +77.5% |
| Profit (loss) for the period to be appropriated | 9905 | €23,876 | €42,381 | +€18,505 | +77.5% |
Next steps
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 5 November 2026 via checked.be.