HOUPAU: 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.
HOUPAU
Largest movements
- Tangible fixed assets -€63,015
down €63,015 (-16.0%), from €394,001 to €330,986
of which Other tangible fixed assets: -€35,083
- Receivables within one year +€25,021
up €25,021 (+56.8%), from €44,042 to €69,063
of which Other amounts receivable: +€16,148
- Formation expenses -€5,781
down €5,781 (-93.3%), from €6,194 to €413
- Debts after one year -€83,277
down €83,277 (-54.4%), from €153,066 to €69,790
- Other debts +€34,985
up €34,985 (+113%), from €30,940 to €65,925
- Tax, wage and social debts +€10,008
up €10,008 (+26.6%), from €37,561 to €47,569
of which Remuneration and social security: +€9,315
- Trade debts -€9,778
down €9,778 (-15.2%), from €64,178 to €54,400
- Profit (loss) carried forward +€5,002
up €5,002 (+20.3%), from €24,680 to €29,682
- Gross operating margin +€27,900
up €27,900 (+7.6%), from €369,532 to €397,432
- Staff costs +€12,191
up €12,191 (+4.8%), from €254,747 to €266,937
- Taxes +€6,687
up €6,687 (+55.4%), from €12,077 to €18,764
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 | €462,439 | €420,752 | -€41,687 | -9.0% |
| Formation expenses | 20 | €6,194 | €413 | -€5,781 | -93.3% |
| Fixed assets | 21/28 | €394,001 | €330,986 | -€63,015 | -16.0% |
| Tangible fixed assets | 22/27 | €394,001 | €330,986 | -€63,015 | -16.0% |
| Plant, machinery and equipment | 23 | €48,353 | €31,235 | -€17,118 | -35.4% |
| Furniture and vehicles | 24 | €29,115 | €18,300 | -€10,815 | -37.1% |
| Other tangible fixed assets | 26 | €316,533 | €281,450 | -€35,083 | -11.1% |
| Current assets | 29/58 | €62,245 | €89,354 | +€27,109 | +43.6% |
| Stocks and contracts in progress | 3 | €8,757 | €9,791 | +€1,033 | +11.8% |
| Stocks | 30/36 | €8,757 | €9,791 | +€1,033 | +11.8% |
| Amounts receivable within one year | 40/41 | €44,042 | €69,063 | +€25,021 | +56.8% |
| Trade receivables | 40 | €10,188 | €19,061 | +€8,872 | +87.1% |
| Other amounts receivable | 41 | €33,854 | €50,002 | +€16,148 | +47.7% |
| Cash at bank and in hand | 54/58 | €5,468 | €5,875 | +€408 | +7.5% |
| Deferred charges and accrued income | 490/1 | €3,977 | €4,625 | +€647 | +16.3% |
| Total equity and liabilities | 10/49 | €462,439 | €420,752 | -€41,687 | -9.0% |
| Equity | 10/15 | €92,330 | €97,332 | +€5,002 | +5.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,680 | €29,682 | +€5,002 | +20.3% |
| Amounts payable | 17/49 | €370,109 | €323,420 | -€46,689 | -12.6% |
| Amounts payable after more than one year | 17 | €153,066 | €69,790 | -€83,277 | -54.4% |
| Financial debts | 170/4 | €153,066 | €69,790 | -€83,277 | -54.4% |
| Amounts payable within one year | 42/48 | €214,063 | €250,721 | +€36,658 | +17.1% |
| Current portion of amounts payable after more than one year | 42 | €81,384 | €82,827 | +€1,443 | +1.8% |
| Trade debts | 44 | €64,178 | €54,400 | -€9,778 | -15.2% |
| Suppliers | 440/4 | €64,178 | €54,400 | -€9,778 | -15.2% |
| Taxes, remuneration and social security | 45 | €37,561 | €47,569 | +€10,008 | +26.6% |
| Taxes | 450/3 | €808 | €1,502 | +€693 | +85.8% |
| Remuneration and social security | 454/9 | €36,753 | €46,067 | +€9,315 | +25.3% |
| Other amounts payable | 47/48 | €30,940 | €65,925 | +€34,985 | +113% |
| Accrued charges and deferred income | 492/3 | €2,979 | €2,909 | -€70 | -2.3% |
| Non-recurring operating income | 76A | €10,518 | €3,655 | -€6,863 | -65.3% |
| Remuneration, social security and pensions | 62 | €254,747 | €266,937 | +€12,191 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,799 | €67,665 | -€1,134 | -1.6% |
| Other operating charges | 640/8 | €1,167 | €1,086 | -€81 | -6.9% |
| Non-recurring operating charges | 66A | €2,762 | €3,130 | +€368 | +13.3% |
| Gross operating margin | 9900 | €369,532 | €397,432 | +€27,900 | +7.6% |
| Operating profit (loss) | 9901 | €42,057 | €58,614 | +€16,556 | +39.4% |
| Financial charges | 65/66B | €4,895 | €4,848 | -€47 | -1.0% |
| Recurring financial charges | 65 | €4,895 | €4,848 | -€47 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €37,162 | €53,766 | +€16,603 | +44.7% |
| Income taxes | 67/77 | €12,077 | €18,764 | +€6,687 | +55.4% |
| Profit (loss) for the period | 9904 | €25,085 | €35,002 | +€9,917 | +39.5% |
| Profit (loss) for the period to be appropriated | 9905 | €25,085 | €35,002 | +€9,917 | +39.5% |
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 17 October 2026 via checked.be.