HPB THE ONE: 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.
HPB THE ONE
Largest movements
- Tangible fixed assets -€47,893
down €47,893 (-22.1%), from €216,375 to €168,482
of which Other tangible fixed assets: -€41,694
- Cash +€26,596
up €26,596 (+31.5%), from €84,449 to €111,045
mainly Other debts (+€84,784) and Depreciation (+€54,475)
- Receivables within one year +€15,096
up €15,096 (+56.9%), from €26,539 to €41,635
of which Other amounts receivable: +€21,772
- Deferred charges and accrued income +€8,110
up €8,110 (+16.0%), from €50,751 to €58,861
- Trade debts -€166,109
down €166,109 (-47.4%), from €350,679 to €184,569
- Other debts +€84,784
up €84,784 (+927%), from €9,146 to €93,930
- Profit (loss) carried forward +€50,481
up €50,481 (+371%), from €13,616 to €64,097
- Tax, wage and social debts +€16,734
up €16,734 (+153%), from €10,967 to €27,701
of which Remuneration and social security: +€16,717
- Current portion of long-term debt +€16,712
new in 2025: €16,712
- Depreciation -€23,170
down €23,170 (-29.8%), from €77,645 to €54,475
- Gross operating margin -€10,678
down €10,678 (-2.5%), from €420,813 to €410,135
- Staff costs +€10,558
up €10,558 (+3.8%), from €275,249 to €285,808
- Taxes +€5,260
up €5,260 (+42.2%), from €12,461 to €17,721
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 | €448,969 | €451,159 | +€2,191 | +0.5% |
| Fixed assets | 21/28 | €283,217 | €235,324 | -€47,893 | -16.9% |
| Tangible fixed assets | 22/27 | €216,375 | €168,482 | -€47,893 | -22.1% |
| Plant, machinery and equipment | 23 | €24,116 | €17,916 | -€6,199 | -25.7% |
| Other tangible fixed assets | 26 | €192,259 | €150,566 | -€41,694 | -21.7% |
| Financial fixed assets | 28 | €66,842 | €66,842 | = | 0.0% |
| Current assets | 29/58 | €165,752 | €215,836 | +€50,084 | +30.2% |
| Stocks and contracts in progress | 3 | €4,013 | €4,295 | +€281 | +7.0% |
| Stocks | 30/36 | €4,013 | €4,295 | +€281 | +7.0% |
| Amounts receivable within one year | 40/41 | €26,539 | €41,635 | +€15,096 | +56.9% |
| Trade receivables | 40 | €6,676 | - | -€6,676 | |
| Other amounts receivable | 41 | €19,862 | €41,635 | +€21,772 | +110% |
| Cash at bank and in hand | 54/58 | €84,449 | €111,045 | +€26,596 | +31.5% |
| Deferred charges and accrued income | 490/1 | €50,751 | €58,861 | +€8,110 | +16.0% |
| Total equity and liabilities | 10/49 | €448,969 | €451,159 | +€2,191 | +0.5% |
| Equity | 10/15 | €77,766 | €128,247 | +€50,481 | +64.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €63,150 | €63,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €63,150 | €63,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,616 | €64,097 | +€50,481 | +371% |
| Amounts payable | 17/49 | €371,203 | €322,912 | -€48,290 | -13.0% |
| Amounts payable within one year | 42/48 | €370,791 | €322,912 | -€47,879 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | - | €16,712 | +€16,712 | |
| Trade debts | 44 | €350,679 | €184,569 | -€166,109 | -47.4% |
| Suppliers | 440/4 | €350,679 | €184,569 | -€166,109 | -47.4% |
| Taxes, remuneration and social security | 45 | €10,967 | €27,701 | +€16,734 | +153% |
| Taxes | 450/3 | €4,499 | €4,516 | +€17 | +0.4% |
| Remuneration and social security | 454/9 | €6,468 | €23,185 | +€16,717 | +258% |
| Other amounts payable | 47/48 | €9,146 | €93,930 | +€84,784 | +927% |
| Accrued charges and deferred income | 492/3 | €411 | - | -€411 | |
| Remuneration, social security and pensions | 62 | €275,249 | €285,808 | +€10,558 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,645 | €54,475 | -€23,170 | -29.8% |
| Other operating charges | 640/8 | €782 | €2,224 | +€1,443 | +185% |
| Gross operating margin | 9900 | €420,813 | €410,135 | -€10,678 | -2.5% |
| Operating profit (loss) | 9901 | €67,138 | €67,628 | +€490 | +0.7% |
| Financial income | 75/76B | - | €1,905 | +€1,905 | |
| Recurring financial income | 75 | - | €1,905 | +€1,905 | |
| Financial charges | 65/66B | €96 | €1,330 | +€1,235 | +1,291% |
| Recurring financial charges | 65 | €96 | €1,330 | +€1,235 | +1,291% |
| Profit (loss) for the period before taxes | 9903 | €67,042 | €68,202 | +€1,160 | +1.7% |
| Income taxes | 67/77 | €12,461 | €17,721 | +€5,260 | +42.2% |
| Profit (loss) for the period | 9904 | €54,581 | €50,481 | -€4,100 | -7.5% |
| Transfer to tax-exempt reserves | 689 | €63,150 | - | -€63,150 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,569 | €50,481 | +€59,050 |
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 28 October 2026 via checked.be.