HPC.: 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.
HPC.
Largest movements
- Cash +€15,880
up €15,880 (+68.6%), from €23,149 to €39,029
mainly Net result for the year (+€60,859) and Depreciation (+€20,816)
- Tangible fixed assets +€10,920
up €10,920 (+7.3%), from €148,721 to €159,641
of which Plant, machinery and equipment: +€23,259
- Receivables within one year -€3,188
down €3,188 (-7.4%), from €42,845 to €39,657
of which Other amounts receivable: -€12,854
- Reserves +€37,508
up €37,508 (+74.3%), from €50,449 to €87,957
of which Distributable reserves: +€37,508
- Debts after one year -€17,743
down €17,743 (-16.4%), from €108,492 to €90,749
- Tax, wage and social debts +€11,565
up €11,565 (+82.9%), from €13,947 to €25,512
- Other debts -€8,068
down €8,068 (-43.1%), from €18,728 to €10,660
- Gross operating margin +€54,780
up €54,780 (+101.1%), from €54,198 to €108,978
- Taxes +€12,417
up €12,417 (+131.2%), from €9,463 to €21,880
- Depreciation +€6,391
up €6,391 (+44.3%), from €14,425 to €20,816
- Financial charges -€2,849
down €2,849 (-36.5%), from €7,795 to €4,946
of which Non-recurring financial charges: -€3,040
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 | €218,428 | €242,198 | +€23,770 | +10.9% |
| Fixed assets | 21/28 | €148,721 | €159,641 | +€10,920 | +7.3% |
| Tangible fixed assets | 22/27 | €148,721 | €159,641 | +€10,920 | +7.3% |
| Land and buildings | 22 | €97,830 | €92,830 | -€5,000 | -5.1% |
| Plant, machinery and equipment | 23 | €15,427 | €38,686 | +€23,259 | +150.8% |
| Furniture and vehicles | 24 | €35,464 | €28,126 | -€7,339 | -20.7% |
| Current assets | 29/58 | €69,707 | €82,557 | +€12,850 | +18.4% |
| Amounts receivable within one year | 40/41 | €42,845 | €39,657 | -€3,188 | -7.4% |
| Trade receivables | 40 | €22,583 | €32,248 | +€9,666 | +42.8% |
| Other amounts receivable | 41 | €20,263 | €7,409 | -€12,854 | -63.4% |
| Cash at bank and in hand | 54/58 | €23,149 | €39,029 | +€15,880 | +68.6% |
| Deferred charges and accrued income | 490/1 | €3,713 | €3,871 | +€158 | +4.2% |
| Total equity and liabilities | 10/49 | €218,428 | €242,198 | +€23,770 | +10.9% |
| Equity | 10/15 | €56,748 | €94,158 | +€37,410 | +65.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €50,449 | €87,957 | +€37,508 | +74.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,000 | €4,000 | = | 0.0% |
| Distributable reserves | 133 | €44,589 | €82,097 | +€37,508 | +84.1% |
| Profit (loss) carried forward | 14 | €99 | €1 | -€98 | -99.0% |
| Amounts payable | 17/49 | €161,680 | €148,040 | -€13,640 | -8.4% |
| Amounts payable after more than one year | 17 | €108,492 | €90,749 | -€17,743 | -16.4% |
| Financial debts | 170/4 | €108,492 | €90,749 | -€17,743 | -16.4% |
| Amounts payable within one year | 42/48 | €53,189 | €57,291 | +€4,102 | +7.7% |
| Current portion of amounts payable after more than one year | 42 | €17,305 | €17,743 | +€437 | +2.5% |
| Trade debts | 44 | €3,208 | €3,376 | +€168 | +5.2% |
| Suppliers | 440/4 | €3,208 | €3,376 | +€168 | +5.2% |
| Taxes, remuneration and social security | 45 | €13,947 | €25,512 | +€11,565 | +82.9% |
| Taxes | 450/3 | €13,947 | €25,512 | +€11,565 | +82.9% |
| Other amounts payable | 47/48 | €18,728 | €10,660 | -€8,068 | -43.1% |
| Non-recurring operating income | 76A | €19,008 | - | -€19,008 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,425 | €20,816 | +€6,391 | +44.3% |
| Other operating charges | 640/8 | €1,405 | €1,163 | -€242 | -17.2% |
| Gross operating margin | 9900 | €54,198 | €108,978 | +€54,780 | +101.1% |
| Operating profit (loss) | 9901 | €38,368 | €86,999 | +€48,631 | +126.7% |
| Financial income | 75/76B | €857 | €687 | -€170 | -19.8% |
| Recurring financial income | 75 | €857 | €687 | -€170 | -19.8% |
| Financial charges | 65/66B | €7,795 | €4,946 | -€2,849 | -36.5% |
| Recurring financial charges | 65 | €4,755 | €4,946 | +€191 | +4.0% |
| Non-recurring financial charges | 66B | €3,040 | - | -€3,040 | |
| Profit (loss) for the period before taxes | 9903 | €31,429 | €82,740 | +€51,310 | +163.3% |
| Income taxes | 67/77 | €9,463 | €21,880 | +€12,417 | +131.2% |
| Profit (loss) for the period | 9904 | €21,966 | €60,859 | +€38,893 | +177.1% |
| Profit (loss) for the period to be appropriated | 9905 | €21,966 | €60,859 | +€38,893 | +177.1% |
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 6 October 2026 via checked.be.