HP2L: 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.
HP2L
Largest movements
- Tangible fixed assets -€23,950
down €23,950 (-2.9%), from €823,521 to €799,571
of which Land and buildings: -€24,347
- Cash +€15,234
up €15,234 (+3.5%), from €440,539 to €455,773
mainly Depreciation (+€32,520) and Deferred charges and accrued income (+€6,456)
- Profit (loss) carried forward +€21,014
up €21,014 (+79.5%), from -€26,429 to -€5,416
- Reserves -€16,453
down €16,453 (-3.8%), from €432,867 to €416,414
of which Tax-exempt reserves: -€16,453
- Financial income +€15,625
new in 2025: €15,625
- Gross operating margin -€7,208
down €7,208 (-20.0%), from €36,078 to €28,870
- Taxes +€2,265
up €2,265 (+29.3%), from €7,727 to €9,992
- Financial charges -€1,975
no longer reported in 2025 (was €1,975)
of which Non-recurring financial charges: -€1,975
- Depreciation +€913
up €913 (+2.9%), from €31,606 to €32,520
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 | €1,276,256 | €1,265,026 | -€11,230 | -0.9% |
| Fixed assets | 21/28 | €828,312 | €806,108 | -€22,204 | -2.7% |
| Tangible fixed assets | 22/27 | €823,521 | €799,571 | -€23,950 | -2.9% |
| Land and buildings | 22 | €821,497 | €797,150 | -€24,347 | -3.0% |
| Furniture and vehicles | 24 | €2,025 | €2,421 | +€396 | +19.6% |
| Financial fixed assets | 28 | €4,791 | €6,537 | +€1,746 | +36.5% |
| Current assets | 29/58 | €447,944 | €458,918 | +€10,974 | +2.4% |
| Amounts receivable within one year | 40/41 | - | €2,195 | +€2,195 | |
| Other amounts receivable | 41 | - | €2,195 | +€2,195 | |
| Cash at bank and in hand | 54/58 | €440,539 | €455,773 | +€15,234 | +3.5% |
| Deferred charges and accrued income | 490/1 | €7,406 | €950 | -€6,456 | -87.2% |
| Total equity and liabilities | 10/49 | €1,276,256 | €1,265,026 | -€11,230 | -0.9% |
| Equity | 10/15 | €431,438 | €435,998 | +€4,561 | +1.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €432,867 | €416,414 | -€16,453 | -3.8% |
| Tax-exempt reserves | 132 | €406,867 | €390,414 | -€16,453 | -4.0% |
| Distributable reserves | 133 | €26,000 | €26,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,429 | -€5,416 | +€21,014 | +79.5% |
| Provisions and deferred taxes | 16 | €209,505 | €201,033 | -€8,472 | -4.0% |
| Deferred taxes | 168 | €209,505 | €201,033 | -€8,472 | -4.0% |
| Amounts payable | 17/49 | €635,314 | €627,995 | -€7,319 | -1.2% |
| Amounts payable within one year | 42/48 | €633,489 | €627,169 | -€6,321 | -1.0% |
| Trade debts | 44 | €1,066 | €968 | -€98 | -9.2% |
| Suppliers | 440/4 | €1,066 | €968 | -€98 | -9.2% |
| Taxes, remuneration and social security | 45 | €2,727 | - | -€2,727 | |
| Taxes | 450/3 | €2,727 | - | -€2,727 | |
| Other amounts payable | 47/48 | €629,696 | €626,201 | -€3,495 | -0.6% |
| Accrued charges and deferred income | 492/3 | €1,824 | €826 | -€999 | -54.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,606 | €32,520 | +€913 | +2.9% |
| Other operating charges | 640/8 | €5,681 | €5,894 | +€213 | +3.8% |
| Gross operating margin | 9900 | €36,078 | €28,870 | -€7,208 | -20.0% |
| Operating profit (loss) | 9901 | -€1,209 | -€9,544 | -€8,335 | -689.4% |
| Financial income | 75/76B | - | €15,625 | +€15,625 | |
| Recurring financial income | 75 | - | €15,625 | +€15,625 | |
| Financial charges | 65/66B | €1,975 | - | -€1,975 | |
| Recurring financial charges | 65 | €0 | - | -€0 | |
| Non-recurring financial charges | 66B | €1,975 | - | -€1,975 | |
| Profit (loss) for the period before taxes | 9903 | -€3,184 | €6,081 | +€9,265 | |
| Transfer from deferred taxes | 780 | €8,472 | €8,472 | = | 0.0% |
| Income taxes | 67/77 | €7,727 | €9,992 | +€2,265 | +29.3% |
| Profit (loss) for the period | 9904 | -€2,439 | €4,561 | +€7,000 | |
| Transfer from tax-exempt reserves | 789 | €16,453 | €16,453 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,014 | €21,014 | +€7,000 | +49.9% |
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.