HOPLR: 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.
HOPLR
Largest movements
- Intangible fixed assets -€79,060
down €79,060 (-9.4%), from €844,461 to €765,401
- Receivables within one year -€57,679
down €57,679 (-15.8%), from €365,126 to €307,447
of which Trade receivables: -€69,989
- Cash -€19,177
down €19,177 (-27.0%), from €71,149 to €51,972
mainly Net result for the year (-€575,126) and Investment in fixed assets (net) (-€230,859)
- Profit (loss) carried forward -€575,126
down €575,126 (-11.8%), from -€4.9m to -€5.4m
- Debts after one year +€319,501
up €319,501 (+26.9%), from €1.2m to €1.5m
- Short-term financial debts +€125,000
new in 2025: €125,000
- Tax, wage and social debts -€54,556
down €54,556 (-33.5%), from €162,726 to €108,170
of which Remuneration and social security: -€28,383
- Current portion of long-term debt +€17,861
up €17,861 (+28.7%), from €62,151 to €80,012
- Gross operating margin -€105,383
down €105,383 (-18.9%), from €556,479 to €451,096
- Staff costs -€99,001
down €99,001 (-13.9%), from €709,766 to €610,765
- Depreciation +€58,852
up €58,852 (+22.4%), from €262,747 to €321,598
- Financial charges +€13,849
up €13,849 (+15.2%), from €90,961 to €104,810
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 | €1,330,692 | €1,167,402 | -€163,290 | -12.3% |
| Fixed assets | 21/28 | €879,068 | €788,328 | -€90,739 | -10.3% |
| Intangible fixed assets | 21 | €844,461 | €765,401 | -€79,060 | -9.4% |
| Tangible fixed assets | 22/27 | €34,325 | €22,928 | -€11,398 | -33.2% |
| Plant, machinery and equipment | 23 | €24,490 | €18,719 | -€5,772 | -23.6% |
| Furniture and vehicles | 24 | €9,835 | €4,209 | -€5,626 | -57.2% |
| Financial fixed assets | 28 | €281 | €0 | -€281 | -100% |
| Current assets | 29/58 | €451,624 | €379,074 | -€72,550 | -16.1% |
| Amounts receivable within one year | 40/41 | €365,126 | €307,447 | -€57,679 | -15.8% |
| Trade receivables | 40 | €316,698 | €246,709 | -€69,989 | -22.1% |
| Other amounts receivable | 41 | €48,428 | €60,738 | +€12,310 | +25.4% |
| Cash at bank and in hand | 54/58 | €71,149 | €51,972 | -€19,177 | -27.0% |
| Deferred charges and accrued income | 490/1 | €15,350 | €19,655 | +€4,305 | +28.0% |
| Total equity and liabilities | 10/49 | €1,330,692 | €1,167,402 | -€163,290 | -12.3% |
| Equity | 10/15 | -€797,145 | -€1,372,271 | -€575,126 | -72.1% |
| Contributions | 10/11 | €4,070,744 | €4,070,744 | = | 0.0% |
| Capital | 10 | €148,422 | €148,422 | = | 0.0% |
| Issued capital | 100 | €148,422 | €148,422 | = | 0.0% |
| Contributions outside capital | 11 | €3,922,322 | €3,922,322 | = | 0.0% |
| Share premium | 1100/10 | €3,922,322 | €3,922,322 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,867,889 | -€5,443,015 | -€575,126 | -11.8% |
| Amounts payable | 17/49 | €2,127,837 | €2,539,674 | +€411,837 | +19.4% |
| Amounts payable after more than one year | 17 | €1,189,670 | €1,509,171 | +€319,501 | +26.9% |
| Financial debts | 170/4 | €1,189,670 | €1,509,171 | +€319,501 | +26.9% |
| Amounts payable within one year | 42/48 | €371,069 | €456,326 | +€85,258 | +23.0% |
| Current portion of amounts payable after more than one year | 42 | €62,151 | €80,012 | +€17,861 | +28.7% |
| Financial debts | 43 | - | €125,000 | +€125,000 | |
| Credit institutions | 430/8 | - | €125,000 | +€125,000 | |
| Trade debts | 44 | €146,192 | €143,145 | -€3,047 | -2.1% |
| Suppliers | 440/4 | €146,192 | €143,145 | -€3,047 | -2.1% |
| Taxes, remuneration and social security | 45 | €162,726 | €108,170 | -€54,556 | -33.5% |
| Taxes | 450/3 | €65,075 | €38,902 | -€26,173 | -40.2% |
| Remuneration and social security | 454/9 | €97,651 | €69,268 | -€28,383 | -29.1% |
| Accrued charges and deferred income | 492/3 | €567,098 | €574,176 | +€7,078 | +1.2% |
| Non-recurring operating income | 76A | - | €11,886 | +€11,886 | |
| Remuneration, social security and pensions | 62 | €709,766 | €610,765 | -€99,001 | -13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €262,747 | €321,598 | +€58,852 | +22.4% |
| Other operating charges | 640/8 | €4,222 | €3,525 | -€697 | -16.5% |
| Gross operating margin | 9900 | €556,479 | €451,096 | -€105,383 | -18.9% |
| Operating profit (loss) | 9901 | -€420,256 | -€484,792 | -€64,536 | -15.4% |
| Financial income | 75/76B | €2,914 | €284 | -€2,630 | -90.2% |
| Recurring financial income | 75 | €2,914 | €284 | -€2,630 | -90.2% |
| Financial charges | 65/66B | €90,961 | €104,810 | +€13,849 | +15.2% |
| Recurring financial charges | 65 | €90,961 | €104,810 | +€13,849 | +15.2% |
| Profit (loss) for the period before taxes | 9903 | -€508,302 | -€589,318 | -€81,015 | -15.9% |
| Income taxes | 67/77 | -€13,901 | -€14,191 | -€290 | -2.1% |
| Profit (loss) for the period | 9904 | -€494,401 | -€575,126 | -€80,725 | -16.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€494,401 | -€575,126 | -€80,725 | -16.3% |
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 21 October 2026 via checked.be.