HPE Management: 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.
HPE Management
Largest movements
- Current investments +€127,180
up €127,180 (+30.6%), from €415,349 to €542,529
- Cash -€90,706
down €90,706 (-66.1%), from €137,326 to €46,620
mainly Current investments (-€127,180) and Receivables within one year (-€9,604)
- Receivables within one year +€9,604
up €9,604 (+224%), from €4,296 to €13,900
of which Trade receivables: +€4,994
- Reserves +€40,006
up €40,006 (+7.4%), from €542,080 to €582,086
- Gross operating margin +€13,208
up €13,208 (+30.1%), from €43,831 to €57,040
- Financial income +€4,908
up €4,908 (+67.7%), from €7,246 to €12,153
- Taxes +€4,524
up €4,524 (+34.2%), from €13,219 to €17,743
- Financial charges +€3,509
up €3,509, from -€3,449 to €60
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 | €588,938 | €630,294 | +€41,356 | +7.0% |
| Fixed assets | 21/28 | €30,002 | €25,626 | -€4,376 | -14.6% |
| Tangible fixed assets | 22/27 | €30,002 | €25,626 | -€4,376 | -14.6% |
| Land and buildings | 22 | €11,332 | €10,957 | -€375 | -3.3% |
| Furniture and vehicles | 24 | €12,135 | €4,664 | -€7,470 | -61.6% |
| Other tangible fixed assets | 26 | €6,536 | €10,005 | +€3,469 | +53.1% |
| Current assets | 29/58 | €558,936 | €604,668 | +€45,732 | +8.2% |
| Amounts receivable within one year | 40/41 | €4,296 | €13,900 | +€9,604 | +224% |
| Trade receivables | 40 | €4,296 | €9,289 | +€4,994 | +116% |
| Other amounts receivable | 41 | - | €4,611 | +€4,611 | |
| Current investments | 50/53 | €415,349 | €542,529 | +€127,180 | +30.6% |
| Cash at bank and in hand | 54/58 | €137,326 | €46,620 | -€90,706 | -66.1% |
| Deferred charges and accrued income | 490/1 | €1,966 | €1,620 | -€346 | -17.6% |
| Total equity and liabilities | 10/49 | €588,938 | €630,294 | +€41,356 | +7.0% |
| Equity | 10/15 | €567,080 | €607,086 | +€40,006 | +7.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €542,080 | €582,086 | +€40,006 | +7.4% |
| Distributable reserves | 133 | €542,080 | €582,086 | +€40,006 | +7.4% |
| Amounts payable | 17/49 | €21,858 | €23,209 | +€1,350 | +6.2% |
| Amounts payable after more than one year | 17 | €2,467 | - | -€2,467 | |
| Financial debts | 170/4 | €2,467 | - | -€2,467 | |
| Amounts payable within one year | 42/48 | €19,391 | €19,709 | +€317 | +1.6% |
| Current portion of amounts payable after more than one year | 42 | €4,894 | €2,467 | -€2,428 | -49.6% |
| Trade debts | 44 | €5,401 | €7,508 | +€2,107 | +39.0% |
| Suppliers | 440/4 | €5,401 | €7,508 | +€2,107 | +39.0% |
| Taxes, remuneration and social security | 45 | €6,767 | €5,103 | -€1,663 | -24.6% |
| Taxes | 450/3 | €6,767 | €5,103 | -€1,663 | -24.6% |
| Other amounts payable | 47/48 | €2,329 | €4,630 | +€2,301 | +98.8% |
| Accrued charges and deferred income | 492/3 | - | €3,500 | +€3,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,067 | €9,051 | -€16 | -0.2% |
| Other operating charges | 640/8 | €2,450 | €2,333 | -€117 | -4.8% |
| Gross operating margin | 9900 | €43,831 | €57,040 | +€13,208 | +30.1% |
| Operating profit (loss) | 9901 | €32,313 | €45,655 | +€13,342 | +41.3% |
| Financial income | 75/76B | €7,246 | €12,153 | +€4,908 | +67.7% |
| Recurring financial income | 75 | €7,246 | €12,153 | +€4,908 | +67.7% |
| Financial charges | 65/66B | -€3,449 | €60 | +€3,509 | |
| Recurring financial charges | 65 | -€3,449 | €60 | +€3,509 | |
| Profit (loss) for the period before taxes | 9903 | €43,009 | €57,749 | +€14,740 | +34.3% |
| Income taxes | 67/77 | €13,219 | €17,743 | +€4,524 | +34.2% |
| Profit (loss) for the period | 9904 | €29,790 | €40,006 | +€10,216 | +34.3% |
| Profit (loss) for the period to be appropriated | 9905 | €29,790 | €40,006 | +€10,216 | +34.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.