HIPEVA: 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.
HIPEVA
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+636.8%), from €173,307 to €1.3m
of which Land and buildings: +€1.1m
- Current investments -€400,000
down €400,000 (-100.0%), from €400,000 to €0
- Receivables within one year -€239,116
down €239,116 (-51.2%), from €467,318 to €228,202
of which Other amounts receivable: -€352,855
- Cash +€193,313
up €193,313 (+193.5%), from €99,878 to €293,191
mainly Current investments (+€400,000) and Other debts (+€253,350)
- Other debts +€253,350
up €253,350 (+518.4%), from €48,869 to €302,219
- Debts after one year +€201,007
up €201,007 (+677.4%), from €29,673 to €230,679
of which Other amounts payable: +€210,000
- Reserves +€168,560
up €168,560 (+14.7%), from €1.1m to €1.3m
of which Distributable reserves: +€168,560
- Depreciation +€134,668
up €134,668 (+251.4%), from €53,570 to €188,238
- Gross operating margin +€88,440
up €88,440 (+26.2%), from €338,132 to €426,572
- Taxes -€16,158
down €16,158 (-35.0%), from €46,195 to €30,037
- Staff costs +€15,109
up €15,109 (+55.0%), from €27,448 to €42,558
- Financial income +€7,538
up €7,538 (+174.2%), from €4,326 to €11,865
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.
Cash bridge derived
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 | €1,400,320 | €2,036,866 | +€636,546 | +45.5% |
| Fixed assets | 21/28 | €295,048 | €1,398,755 | +€1.1m | +374.1% |
| Tangible fixed assets | 22/27 | €173,307 | €1,277,014 | +€1.1m | +636.8% |
| Land and buildings | 22 | - | €1,105,852 | +€1.1m | |
| Plant, machinery and equipment | 23 | €109,060 | €87,875 | -€21,185 | -19.4% |
| Furniture and vehicles | 24 | €11,716 | €3,466 | -€8,251 | -70.4% |
| Leasing and similar rights | 25 | €38,224 | €28,848 | -€9,376 | -24.5% |
| Other tangible fixed assets | 26 | €14,307 | €50,974 | +€36,667 | +256.3% |
| Financial fixed assets | 28 | €121,741 | €121,741 | = | 0.0% |
| Current assets | 29/58 | €1,105,272 | €638,111 | -€467,161 | -42.3% |
| Stocks and contracts in progress | 3 | €132,000 | €112,400 | -€19,600 | -14.8% |
| Stocks | 30/36 | €132,000 | €112,400 | -€19,600 | -14.8% |
| Amounts receivable within one year | 40/41 | €467,318 | €228,202 | -€239,116 | -51.2% |
| Trade receivables | 40 | €89,565 | €203,304 | +€113,739 | +127.0% |
| Other amounts receivable | 41 | €377,753 | €24,898 | -€352,855 | -93.4% |
| Current investments | 50/53 | €400,000 | €0 | -€400,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €99,878 | €293,191 | +€193,313 | +193.5% |
| Deferred charges and accrued income | 490/1 | €6,075 | €4,318 | -€1,757 | -28.9% |
| Total equity and liabilities | 10/49 | €1,400,320 | €2,036,866 | +€636,546 | +45.5% |
| Equity | 10/15 | €1,274,932 | €1,443,492 | +€168,560 | +13.2% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €1,149,932 | €1,318,492 | +€168,560 | +14.7% |
| Tax-exempt reserves | 132 | €12,000 | €12,000 | = | 0.0% |
| Distributable reserves | 133 | €1,137,932 | €1,306,492 | +€168,560 | +14.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €125,388 | €593,374 | +€467,987 | +373.2% |
| Amounts payable after more than one year | 17 | €29,673 | €230,679 | +€201,007 | +677.4% |
| Financial debts | 170/4 | €29,673 | €20,679 | -€8,993 | -30.3% |
| Other amounts payable | 178/9 | - | €210,000 | +€210,000 | |
| Amounts payable within one year | 42/48 | €95,715 | €362,695 | +€266,980 | +278.9% |
| Current portion of amounts payable after more than one year | 42 | €8,731 | €8,993 | +€262 | +3.0% |
| Trade debts | 44 | €5,323 | €25,490 | +€20,167 | +378.9% |
| Suppliers | 440/4 | €5,323 | €25,490 | +€20,167 | +378.9% |
| Taxes, remuneration and social security | 45 | €32,792 | €25,992 | -€6,800 | -20.7% |
| Taxes | 450/3 | €24,450 | €16,205 | -€8,246 | -33.7% |
| Remuneration and social security | 454/9 | €8,342 | €9,788 | +€1,446 | +17.3% |
| Other amounts payable | 47/48 | €48,869 | €302,219 | +€253,350 | +518.4% |
| Remuneration, social security and pensions | 62 | €27,448 | €42,558 | +€15,109 | +55.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,570 | €188,238 | +€134,668 | +251.4% |
| Other operating charges | 640/8 | €3,161 | €3,700 | +€539 | +17.1% |
| Gross operating margin | 9900 | €338,132 | €426,572 | +€88,440 | +26.2% |
| Operating profit (loss) | 9901 | €253,954 | €192,077 | -€61,876 | -24.4% |
| Financial income | 75/76B | €4,326 | €11,865 | +€7,538 | +174.2% |
| Recurring financial income | 75 | €4,326 | €11,865 | +€7,538 | +174.2% |
| Financial charges | 65/66B | €2,003 | €5,345 | +€3,341 | +166.8% |
| Recurring financial charges | 65 | €2,003 | €5,345 | +€3,341 | +166.8% |
| Profit (loss) for the period before taxes | 9903 | €256,277 | €198,597 | -€57,680 | -22.5% |
| Income taxes | 67/77 | €46,195 | €30,037 | -€16,158 | -35.0% |
| Profit (loss) for the period | 9904 | €210,082 | €168,560 | -€41,522 | -19.8% |
| Profit (loss) for the period to be appropriated | 9905 | €210,082 | €168,560 | -€41,522 | -19.8% |
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 12 October 2026 via checked.be.