HOPAGES: 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.
HOPAGES
Largest movements
- Tangible fixed assets +€140,527
up €140,527 (+51.9%), from €270,597 to €411,124
of which Land and buildings: +€140,668
- Debts after one year +€131,524
up €131,524 (+99.6%), from €132,112 to €263,636
of which Financial debts: +€75,524
- Trade debts +€5,363
up €5,363 (+309%), from €1,734 to €7,097
- Current portion of long-term debt +€4,852
up €4,852 (+28.0%), from €17,308 to €22,160
- Gross operating margin -€12,644
down €12,644 (-28.3%), from €44,694 to €32,050
- Depreciation +€7,381
up €7,381 (+55.2%), from €13,382 to €20,763
- Financial charges +€4,866
up €4,866 (+123%), from €3,957 to €8,823
- Other operating charges +€832
up €832 (+25.6%), from €3,250 to €4,082
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 | €287,450 | €428,096 | +€140,646 | +48.9% |
| Fixed assets | 21/28 | €270,597 | €411,124 | +€140,527 | +51.9% |
| Tangible fixed assets | 22/27 | €270,597 | €411,124 | +€140,527 | +51.9% |
| Land and buildings | 22 | €270,444 | €411,112 | +€140,668 | +52.0% |
| Plant, machinery and equipment | 23 | €153 | €12 | -€141 | -92.2% |
| Current assets | 29/58 | €16,853 | €16,972 | +€119 | +0.7% |
| Amounts receivable within one year | 40/41 | €15,471 | €11,873 | -€3,598 | -23.3% |
| Trade receivables | 40 | €15,471 | €11,873 | -€3,598 | -23.3% |
| Cash at bank and in hand | 54/58 | €1,381 | €5,099 | +€3,718 | +269% |
| Deferred charges and accrued income | 490/1 | €1 | - | -€1 | |
| Total equity and liabilities | 10/49 | €287,450 | €428,096 | +€140,646 | +48.9% |
| Equity | 10/15 | €131,056 | €129,445 | -€1,611 | -1.2% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€118,944 | -€120,555 | -€1,611 | -1.4% |
| Amounts payable | 17/49 | €156,394 | €298,651 | +€142,257 | +91.0% |
| Amounts payable after more than one year | 17 | €132,112 | €263,636 | +€131,524 | +99.6% |
| Financial debts | 170/4 | €60,112 | €135,636 | +€75,524 | +126% |
| Other amounts payable | 178/9 | €72,000 | €128,000 | +€56,000 | +77.8% |
| Amounts payable within one year | 42/48 | €24,217 | €34,948 | +€10,731 | +44.3% |
| Current portion of amounts payable after more than one year | 42 | €17,308 | €22,160 | +€4,852 | +28.0% |
| Trade debts | 44 | €1,734 | €7,097 | +€5,363 | +309% |
| Suppliers | 440/4 | €1,734 | €7,097 | +€5,363 | +309% |
| Taxes, remuneration and social security | 45 | €2,345 | €1,978 | -€367 | -15.7% |
| Taxes | 450/3 | €2,345 | €1,978 | -€367 | -15.7% |
| Other amounts payable | 47/48 | €2,830 | €3,713 | +€883 | +31.2% |
| Accrued charges and deferred income | 492/3 | €65 | €67 | +€2 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,382 | €20,763 | +€7,381 | +55.2% |
| Other operating charges | 640/8 | €3,250 | €4,082 | +€832 | +25.6% |
| Gross operating margin | 9900 | €44,694 | €32,050 | -€12,644 | -28.3% |
| Operating profit (loss) | 9901 | €28,062 | €7,205 | -€20,857 | -74.3% |
| Financial income | 75/76B | €3 | €11 | +€8 | +267% |
| Recurring financial income | 75 | €3 | €11 | +€8 | +267% |
| Financial charges | 65/66B | €3,957 | €8,823 | +€4,866 | +123% |
| Recurring financial charges | 65 | €3,957 | €8,823 | +€4,866 | +123% |
| Profit (loss) for the period before taxes | 9903 | €24,108 | -€1,607 | -€25,715 | |
| Income taxes | 67/77 | - | €3 | +€3 | |
| Profit (loss) for the period | 9904 | €24,108 | -€1,610 | -€25,718 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,108 | -€1,610 | -€25,718 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.