HP Engineers: 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 Engineers
Largest movements
- Stocks and contracts +€500,000
up €500,000 (+250.0%), from €200,000 to €700,000
- Current investments -€300,000
down €300,000 (-87.7%), from €342,174 to €42,174
- Tangible fixed assets +€245,607
up €245,607 (+219.8%), from €111,765 to €357,372
of which Other tangible fixed assets: +€235,500
- Cash -€197,660
down €197,660 (-24.7%), from €801,458 to €603,798
mainly Stocks and contracts (-€500,000) and Contributions, distributions and other (-€400,000)
- Receivables within one year +€131,014
up €131,014 (+21.3%), from €614,194 to €745,208
of which Trade receivables: +€102,173
- Trade debts +€324,190
up €324,190 (+493.3%), from €65,714 to €389,904
- Reserves +€191,359
up €191,359 (+21.6%), from €885,127 to €1.1m
of which Distributable reserves: +€191,359
- Debts after one year -€44,130
down €44,130 (-17.1%), from €257,631 to €213,501
- Tax, wage and social debts -€39,823
down €39,823 (-14.3%), from €278,644 to €238,822
of which Taxes: -€66,771
- Current portion of long-term debt -€25,272
down €25,272 (-16.5%), from €152,958 to €127,686
- Gross operating margin +€106,629
up €106,629 (+5.3%), from €2.0m to €2.1m
- Staff costs +€100,337
up €100,337 (+7.8%), from €1.3m to €1.4m
- Depreciation +€31,303
up €31,303 (+115.7%), from €27,045 to €58,348
- Taxes -€23,258
down €23,258 (-22.7%), from €102,376 to €79,118
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 | €2,096,715 | €2,507,795 | +€411,079 | +19.6% |
| Fixed assets | 21/28 | €116,782 | €360,562 | +€243,781 | +208.7% |
| Intangible fixed assets | 21 | €5,017 | €3,190 | -€1,827 | -36.4% |
| Tangible fixed assets | 22/27 | €111,765 | €357,372 | +€245,607 | +219.8% |
| Plant, machinery and equipment | 23 | €1,213 | €747 | -€466 | -38.4% |
| Furniture and vehicles | 24 | €87,162 | €97,736 | +€10,573 | +12.1% |
| Other tangible fixed assets | 26 | €23,389 | €258,889 | +€235,500 | +1006.9% |
| Current assets | 29/58 | €1,979,933 | €2,147,232 | +€167,299 | +8.4% |
| Stocks and contracts in progress | 3 | €200,000 | €700,000 | +€500,000 | +250.0% |
| Contracts in progress | 37 | €200,000 | €700,000 | +€500,000 | +250.0% |
| Amounts receivable within one year | 40/41 | €614,194 | €745,208 | +€131,014 | +21.3% |
| Trade receivables | 40 | €552,590 | €654,763 | +€102,173 | +18.5% |
| Other amounts receivable | 41 | €61,604 | €90,445 | +€28,841 | +46.8% |
| Current investments | 50/53 | €342,174 | €42,174 | -€300,000 | -87.7% |
| Cash at bank and in hand | 54/58 | €801,458 | €603,798 | -€197,660 | -24.7% |
| Deferred charges and accrued income | 490/1 | €22,107 | €56,052 | +€33,945 | +153.6% |
| Total equity and liabilities | 10/49 | €2,096,715 | €2,507,795 | +€411,079 | +19.6% |
| Equity | 10/15 | €903,727 | €1,095,086 | +€191,359 | +21.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €885,127 | €1,076,486 | +€191,359 | +21.6% |
| Non-distributable reserves | 130/1 | €42,174 | €42,174 | = | 0.0% |
| Own shares acquired | 1312 | €42,174 | €42,174 | = | 0.0% |
| Tax-exempt reserves | 132 | €126,300 | €126,300 | = | 0.0% |
| Distributable reserves | 133 | €716,653 | €908,012 | +€191,359 | +26.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,192,988 | €1,412,709 | +€219,721 | +18.4% |
| Amounts payable after more than one year | 17 | €257,631 | €213,501 | -€44,130 | -17.1% |
| Financial debts | 170/4 | €257,631 | €213,501 | -€44,130 | -17.1% |
| Amounts payable within one year | 42/48 | €935,357 | €1,199,178 | +€263,821 | +28.2% |
| Current portion of amounts payable after more than one year | 42 | €152,958 | €127,686 | -€25,272 | -16.5% |
| Financial debts | 43 | €171 | €359 | +€188 | +110.0% |
| Credit institutions | 430/8 | €171 | €359 | +€188 | +110.0% |
| Trade debts | 44 | €65,714 | €389,904 | +€324,190 | +493.3% |
| Suppliers | 440/4 | €65,714 | €389,904 | +€324,190 | +493.3% |
| Taxes, remuneration and social security | 45 | €278,644 | €238,822 | -€39,823 | -14.3% |
| Taxes | 450/3 | €159,878 | €93,107 | -€66,771 | -41.8% |
| Remuneration and social security | 454/9 | €118,767 | €145,715 | +€26,948 | +22.7% |
| Other amounts payable | 47/48 | €437,870 | €442,407 | +€4,538 | +1.0% |
| Accrued charges and deferred income | 492/3 | - | €29 | +€29 | |
| Non-recurring operating income | 76A | €16,616 | €6,275 | -€10,341 | -62.2% |
| Remuneration, social security and pensions | 62 | €1,290,998 | €1,391,335 | +€100,337 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,045 | €58,348 | +€31,303 | +115.7% |
| Other operating charges | 640/8 | €8,079 | €9,934 | +€1,855 | +23.0% |
| Non-recurring operating charges | 66A | €3,544 | €0 | -€3,544 | -100.0% |
| Gross operating margin | 9900 | €2,022,703 | €2,129,332 | +€106,629 | +5.3% |
| Operating profit (loss) | 9901 | €693,037 | €669,716 | -€23,322 | -3.4% |
| Financial income | 75/76B | €3,802 | €15,577 | +€11,775 | +309.7% |
| Recurring financial income | 75 | €3,802 | €15,577 | +€11,775 | +309.7% |
| Financial charges | 65/66B | €10,642 | €14,817 | +€4,175 | +39.2% |
| Recurring financial charges | 65 | €10,642 | €14,817 | +€4,175 | +39.2% |
| Profit (loss) for the period before taxes | 9903 | €686,197 | €670,476 | -€15,721 | -2.3% |
| Income taxes | 67/77 | €102,376 | €79,118 | -€23,258 | -22.7% |
| Profit (loss) for the period | 9904 | €583,821 | €591,359 | +€7,537 | +1.3% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €583,821 | €591,359 | +€7,537 | +1.3% |
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 9 October 2026 via checked.be.