HiPhaQS: 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.
HiPhaQS
Largest movements
- Cash +€81,113
up €81,113 (+176%), from €45,971 to €127,084
mainly Other debts (+€108,691) and Net result for the year (+€79,526)
- Receivables within one year +€4,175
up €4,175 (+6.8%), from €61,819 to €65,993
of which Trade receivables: +€27,300
- Other debts +€108,691
up €108,691 (+244%), from €44,559 to €153,250
- Profit (loss) carried forward -€45,474
down €45,474 (-97.9%), from €46,462 to €988
- Tax, wage and social debts +€21,319
up €21,319 (+130%), from €16,447 to €37,767
of which Taxes: +€23,819
- Gross operating margin +€22,110
up €22,110 (+27.8%), from €79,529 to €101,638
- Taxes +€5,697
up €5,697 (+35.3%), from €16,159 to €21,856
- Financial income +€2,169
new in 2025: €2,169
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 | €112,035 | €197,185 | +€85,151 | +76.0% |
| Fixed assets | 21/28 | €1,476 | €836 | -€640 | -43.3% |
| Tangible fixed assets | 22/27 | €1,476 | €836 | -€640 | -43.3% |
| Furniture and vehicles | 24 | €1,476 | €836 | -€640 | -43.3% |
| Current assets | 29/58 | €110,559 | €196,349 | +€85,791 | +77.6% |
| Amounts receivable within one year | 40/41 | €61,819 | €65,993 | +€4,175 | +6.8% |
| Trade receivables | 40 | €38,694 | €65,993 | +€27,300 | +70.6% |
| Other amounts receivable | 41 | €23,125 | - | -€23,125 | |
| Cash at bank and in hand | 54/58 | €45,971 | €127,084 | +€81,113 | +176% |
| Deferred charges and accrued income | 490/1 | €2,769 | €3,272 | +€503 | +18.2% |
| Total equity and liabilities | 10/49 | €112,035 | €197,185 | +€85,151 | +76.0% |
| Equity | 10/15 | €48,962 | €3,488 | -€45,474 | -92.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,462 | €988 | -€45,474 | -97.9% |
| Amounts payable | 17/49 | €63,073 | €193,698 | +€130,624 | +207% |
| Amounts payable within one year | 42/48 | €63,068 | €193,692 | +€130,624 | +207% |
| Trade debts | 44 | €2,062 | €2,675 | +€614 | +29.8% |
| Suppliers | 440/4 | €2,062 | €2,675 | +€614 | +29.8% |
| Taxes, remuneration and social security | 45 | €16,447 | €37,767 | +€21,319 | +130% |
| Taxes | 450/3 | €13,763 | €37,583 | +€23,819 | +173% |
| Remuneration and social security | 454/9 | €2,684 | €184 | -€2,500 | -93.1% |
| Other amounts payable | 47/48 | €44,559 | €153,250 | +€108,691 | +244% |
| Accrued charges and deferred income | 492/3 | €5 | €6 | +€1 | +17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €412 | €640 | +€227 | +55.1% |
| Other operating charges | 640/8 | €1,268 | €1,482 | +€214 | +16.9% |
| Gross operating margin | 9900 | €79,529 | €101,638 | +€22,110 | +27.8% |
| Operating profit (loss) | 9901 | €77,848 | €99,516 | +€21,668 | +27.8% |
| Financial income | 75/76B | - | €2,169 | +€2,169 | |
| Recurring financial income | 75 | - | €2,169 | +€2,169 | |
| Financial charges | 65/66B | €355 | €303 | -€53 | -14.8% |
| Recurring financial charges | 65 | €355 | €303 | -€53 | -14.8% |
| Profit (loss) for the period before taxes | 9903 | €77,493 | €101,382 | +€23,890 | +30.8% |
| Income taxes | 67/77 | €16,159 | €21,856 | +€5,697 | +35.3% |
| Profit (loss) for the period | 9904 | €61,334 | €79,526 | +€18,192 | +29.7% |
| Profit (loss) for the period to be appropriated | 9905 | €61,334 | €79,526 | +€18,192 | +29.7% |
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.