HLP: 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.
HLP
Largest movements
- Cash +€32,181
up €32,181 (+23.2%), from €138,969 to €171,150
mainly Other debts (+€157,554) and Net result for the year (+€44,375)
- Receivables within one year +€28,001
up €28,001 (+143.5%), from €19,515 to €47,515
- Other debts +€157,554
up €157,554 (+210071.9%), from €75 to €157,629
- Reserves -€92,625
down €92,625 (-67.4%), from €137,409 to €44,784
- Tax, wage and social debts -€4,656
down €4,656 (-28.6%), from €16,302 to €11,646
of which Taxes: -€4,656
- Gross operating margin +€33,148
up €33,148 (+47.7%), from €69,513 to €102,661
- Financial charges +€14,325
up €14,325 (+44.8%), from €31,959 to €46,284
- Taxes +€3,425
up €3,425 (+42.8%), from €7,996 to €11,421
- Financial income -€2,739
down €2,739 (-100.0%), from €2,739 to €0
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 | €158,712 | €220,403 | +€61,692 | +38.9% |
| Fixed assets | 21/28 | €169 | €964 | +€795 | +469.3% |
| Tangible fixed assets | 22/27 | €169 | €964 | +€795 | +469.3% |
| Furniture and vehicles | 24 | €169 | €964 | +€795 | +469.3% |
| Current assets | 29/58 | €158,542 | €219,439 | +€60,897 | +38.4% |
| Amounts receivable within one year | 40/41 | €19,515 | €47,515 | +€28,001 | +143.5% |
| Trade receivables | 40 | €19,515 | €47,515 | +€28,001 | +143.5% |
| Cash at bank and in hand | 54/58 | €138,969 | €171,150 | +€32,181 | +23.2% |
| Deferred charges and accrued income | 490/1 | €58 | €773 | +€715 | +1234.0% |
| Total equity and liabilities | 10/49 | €158,712 | €220,403 | +€61,692 | +38.9% |
| Equity | 10/15 | €141,409 | €48,784 | -€92,625 | -65.5% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €137,409 | €44,784 | -€92,625 | -67.4% |
| Distributable reserves | 133 | €137,409 | €44,784 | -€92,625 | -67.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €17,303 | €171,619 | +€154,316 | +891.8% |
| Amounts payable within one year | 42/48 | €17,078 | €171,394 | +€154,316 | +903.6% |
| Trade debts | 44 | €701 | €2,119 | +€1,418 | +202.4% |
| Suppliers | 440/4 | €701 | €2,119 | +€1,418 | +202.4% |
| Taxes, remuneration and social security | 45 | €16,302 | €11,646 | -€4,656 | -28.6% |
| Taxes | 450/3 | €14,302 | €9,646 | -€4,656 | -32.6% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €75 | €157,629 | +€157,554 | +210071.9% |
| Accrued charges and deferred income | 492/3 | €225 | €225 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61 | €68 | +€8 | +12.5% |
| Other operating charges | 640/8 | €499 | €512 | +€12 | +2.5% |
| Gross operating margin | 9900 | €69,513 | €102,661 | +€33,148 | +47.7% |
| Operating profit (loss) | 9901 | €68,953 | €102,081 | +€33,128 | +48.0% |
| Financial income | 75/76B | €2,739 | €0 | -€2,739 | -100.0% |
| Recurring financial income | 75 | €2,739 | €0 | -€2,739 | -100.0% |
| Financial charges | 65/66B | €31,959 | €46,284 | +€14,325 | +44.8% |
| Recurring financial charges | 65 | €31,959 | €46,284 | +€14,325 | +44.8% |
| Profit (loss) for the period before taxes | 9903 | €39,733 | €55,797 | +€16,064 | +40.4% |
| Income taxes | 67/77 | €7,996 | €11,421 | +€3,425 | +42.8% |
| Profit (loss) for the period | 9904 | €31,737 | €44,375 | +€12,638 | +39.8% |
| Profit (loss) for the period to be appropriated | 9905 | €31,737 | €44,375 | +€12,638 | +39.8% |
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 11 October 2026 via checked.be.