HOPA: 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.
HOPA
Largest movements
- Tangible fixed assets -€13,448
down €13,448 (-4.3%), from €311,953 to €298,506
- Debts after one year -€25,514
down €25,514 (-7.6%), from €334,314 to €308,799
of which Financial debts: -€25,514
- Other debts +€16,542
up €16,542 (+191%), from €8,641 to €25,183
- Tax, wage and social debts -€14,344
down €14,344 (-34.2%), from €41,963 to €27,619
of which Remuneration and social security: -€12,950
- Trade debts +€7,619
up €7,619 (+64.4%), from €11,833 to €19,452
- Profit (loss) carried forward +€6,145
up €6,145 (+25.8%), from -€23,845 to -€17,700
- Staff costs -€22,770
down €22,770 (-73.4%), from €31,006 to €8,236
- Gross operating margin +€11,714
up €11,714 (+29.5%), from €39,754 to €51,468
- Other operating charges -€881
down €881 (-6.7%), from €13,097 to €12,217
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 | €439,451 | €429,847 | -€9,604 | -2.2% |
| Fixed assets | 21/28 | €402,136 | €388,555 | -€13,581 | -3.4% |
| Tangible fixed assets | 22/27 | €311,953 | €298,506 | -€13,448 | -4.3% |
| Land and buildings | 22 | €311,953 | €298,506 | -€13,448 | -4.3% |
| Financial fixed assets | 28 | €90,183 | €90,049 | -€133 | -0.1% |
| Current assets | 29/58 | €37,315 | €41,292 | +€3,977 | +10.7% |
| Amounts receivable within one year | 40/41 | €36,853 | €40,987 | +€4,135 | +11.2% |
| Trade receivables | 40 | €36,853 | €3,966 | -€32,886 | -89.2% |
| Other amounts receivable | 41 | - | €37,021 | +€37,021 | |
| Cash at bank and in hand | 54/58 | €6 | €1 | -€6 | -90.6% |
| Deferred charges and accrued income | 490/1 | €456 | €304 | -€152 | -33.3% |
| Total equity and liabilities | 10/49 | €439,451 | €429,847 | -€9,604 | -2.2% |
| Equity | 10/15 | -€5,245 | €900 | +€6,145 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,845 | -€17,700 | +€6,145 | +25.8% |
| Amounts payable | 17/49 | €444,696 | €428,948 | -€15,749 | -3.5% |
| Amounts payable after more than one year | 17 | €334,314 | €308,799 | -€25,514 | -7.6% |
| Financial debts | 170/4 | €282,314 | €256,799 | -€25,514 | -9.0% |
| Other amounts payable | 178/9 | €52,000 | €52,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €93,759 | €104,061 | +€10,302 | +11.0% |
| Current portion of amounts payable after more than one year | 42 | €31,323 | €31,807 | +€484 | +1.5% |
| Trade debts | 44 | €11,833 | €19,452 | +€7,619 | +64.4% |
| Suppliers | 440/4 | €11,833 | €19,452 | +€7,619 | +64.4% |
| Taxes, remuneration and social security | 45 | €41,963 | €27,619 | -€14,344 | -34.2% |
| Taxes | 450/3 | €22,806 | €21,413 | -€1,394 | -6.1% |
| Remuneration and social security | 454/9 | €19,156 | €6,206 | -€12,950 | -67.6% |
| Other amounts payable | 47/48 | €8,641 | €25,183 | +€16,542 | +191% |
| Accrued charges and deferred income | 492/3 | €16,624 | €16,088 | -€536 | -3.2% |
| Remuneration, social security and pensions | 62 | €31,006 | €8,236 | -€22,770 | -73.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,391 | €13,448 | +€57 | +0.4% |
| Other operating charges | 640/8 | €13,097 | €12,217 | -€881 | -6.7% |
| Gross operating margin | 9900 | €39,754 | €51,468 | +€11,714 | +29.5% |
| Operating profit (loss) | 9901 | -€17,739 | €17,568 | +€35,307 | |
| Financial charges | 65/66B | €10,656 | €11,041 | +€385 | +3.6% |
| Recurring financial charges | 65 | €10,656 | €11,041 | +€385 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | -€28,395 | €6,527 | +€34,922 | |
| Income taxes | 67/77 | €262 | €382 | +€120 | +45.6% |
| Profit (loss) for the period | 9904 | -€28,657 | €6,145 | +€34,802 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,657 | €6,145 | +€34,802 |
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 22 October 2026 via checked.be.