HP 27: what changed
Two fiscal 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.
HP 27
Largest movements
- Receivables within one year -€50,071
down €50,071 (-40.0%), from €125,173 to €75,102
of which Trade receivables: -€42,900
- Stocks and contracts -€24,305
down €24,305 (-14.2%), from €171,282 to €146,978
- Profit (loss) carried forward -€92,525
down €92,525 (-42.7%), from €216,797 to €124,272
- Other debts +€9,338
new in 2025: €9,338
- Trade debts +€6,610
up €6,610 (+36.7%), from €18,027 to €24,637
- Staff costs +€48,233
up €48,233 (+82.5%), from €58,498 to €106,731
- Gross operating margin -€12,334
down €12,334 (-44.9%), from €27,484 to €15,150
- Other operating charges +€387
new in 2025: €387
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 | €298,717 | €223,583 | -€75,134 | -25.2% |
| Fixed assets | 21/28 | €2,244 | €1,434 | -€810 | -36.1% |
| Tangible fixed assets | 22/27 | €1,718 | €1,249 | -€468 | -27.3% |
| Furniture and vehicles | 24 | €1,718 | €1,249 | -€468 | -27.3% |
| Financial fixed assets | 28 | €527 | €185 | -€342 | -64.9% |
| Current assets | 29/58 | €296,473 | €222,149 | -€74,324 | -25.1% |
| Stocks and contracts in progress | 3 | €171,282 | €146,978 | -€24,305 | -14.2% |
| Stocks | 30/36 | €171,282 | €146,978 | -€24,305 | -14.2% |
| Amounts receivable within one year | 40/41 | €125,173 | €75,102 | -€50,071 | -40.0% |
| Trade receivables | 40 | €117,684 | €74,783 | -€42,900 | -36.5% |
| Other amounts receivable | 41 | €7,489 | €319 | -€7,170 | -95.7% |
| Cash at bank and in hand | 54/58 | €17 | €68 | +€51 | +294.0% |
| Total equity and liabilities | 10/49 | €298,717 | €223,583 | -€75,134 | -25.2% |
| Equity | 10/15 | €270,828 | €178,304 | -€92,525 | -34.2% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €4,032 | €4,032 | = | 0.0% |
| Distributable reserves | 133 | €4,032 | €4,032 | = | 0.0% |
| Profit (loss) carried forward | 14 | €216,797 | €124,272 | -€92,525 | -42.7% |
| Amounts payable | 17/49 | €27,889 | €45,279 | +€17,390 | +62.4% |
| Amounts payable within one year | 42/48 | €27,889 | €45,279 | +€17,390 | +62.4% |
| Trade debts | 44 | €18,027 | €24,637 | +€6,610 | +36.7% |
| Suppliers | 440/4 | €18,027 | €24,637 | +€6,610 | +36.7% |
| Taxes, remuneration and social security | 45 | €9,862 | €11,304 | +€1,442 | +14.6% |
| Taxes | 450/3 | €844 | €839 | -€4 | -0.5% |
| Remuneration and social security | 454/9 | €9,018 | €10,464 | +€1,446 | +16.0% |
| Other amounts payable | 47/48 | - | €9,338 | +€9,338 | |
| Remuneration, social security and pensions | 62 | €58,498 | €106,731 | +€48,233 | +82.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €468 | €468 | = | 0.0% |
| Other operating charges | 640/8 | - | €387 | +€387 | |
| Gross operating margin | 9900 | €27,484 | €15,150 | -€12,334 | -44.9% |
| Operating profit (loss) | 9901 | -€31,482 | -€92,437 | -€60,954 | -193.6% |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | €67 | €96 | +€29 | +43.4% |
| Recurring financial charges | 65 | €67 | €96 | +€29 | +43.4% |
| Profit (loss) for the period before taxes | 9903 | -€31,549 | -€92,525 | -€60,975 | -193.3% |
| Profit (loss) for the period | 9904 | -€31,549 | -€92,525 | -€60,975 | -193.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,549 | -€92,525 | -€60,975 | -193.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.