HPH TRANS: 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.
HPH TRANS
Largest movements
- Tangible fixed assets +€24,555
up €24,555 (+90.5%), from €27,125 to €51,681
of which Leasing and similar rights: +€28,468
- Receivables within one year +€6,127
up €6,127 (+61.2%), from €10,016 to €16,143
of which Other amounts receivable: +€6,185
- Deferred charges and accrued income +€2,187
new in 2025: €2,187
- Cash -€1,774
down €1,774 (-11.1%), from €15,931 to €14,157
mainly Investment in fixed assets (net) (-€36,170) and Receivables within one year (-€6,127)
- Reserves +€20,224
up €20,224 (+159%), from €12,726 to €32,949
- Debts after one year +€9,080
up €9,080 (+50.0%), from €18,175 to €27,255
- Current portion of long-term debt +€4,937
up €4,937 (+68.5%), from €7,205 to €12,142
- Other debts -€3,058
no longer reported in 2025 (was €3,058)
- Gross operating margin +€15,447
up €15,447 (+64.6%), from €23,901 to €39,348
- Depreciation +€6,559
up €6,559 (+130%), from €5,056 to €11,614
- Financial charges +€591
up €591 (+27.6%), from €2,144 to €2,735
- Taxes +€545
up €545 (+13.7%), from €3,990 to €4,536
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 | €53,208 | €84,302 | +€31,094 | +58.4% |
| Fixed assets | 21/28 | €27,260 | €51,816 | +€24,555 | +90.1% |
| Tangible fixed assets | 22/27 | €27,125 | €51,681 | +€24,555 | +90.5% |
| Plant, machinery and equipment | 23 | - | €929 | +€929 | |
| Furniture and vehicles | 24 | €27,125 | €22,283 | -€4,842 | -17.9% |
| Leasing and similar rights | 25 | - | €28,468 | +€28,468 | |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €25,947 | €32,486 | +€6,539 | +25.2% |
| Amounts receivable within one year | 40/41 | €10,016 | €16,143 | +€6,127 | +61.2% |
| Trade receivables | 40 | €10,016 | €9,957 | -€59 | -0.6% |
| Other amounts receivable | 41 | - | €6,185 | +€6,185 | |
| Cash at bank and in hand | 54/58 | €15,931 | €14,157 | -€1,774 | -11.1% |
| Deferred charges and accrued income | 490/1 | - | €2,187 | +€2,187 | |
| Total equity and liabilities | 10/49 | €53,208 | €84,302 | +€31,094 | +58.4% |
| Equity | 10/15 | €15,226 | €35,449 | +€20,224 | +133% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €12,726 | €32,949 | +€20,224 | +159% |
| Distributable reserves | 133 | €12,726 | €32,949 | +€20,224 | +159% |
| Amounts payable | 17/49 | €37,982 | €48,853 | +€10,871 | +28.6% |
| Amounts payable after more than one year | 17 | €18,175 | €27,255 | +€9,080 | +50.0% |
| Financial debts | 170/4 | €18,175 | €27,255 | +€9,080 | +50.0% |
| Amounts payable within one year | 42/48 | €19,807 | €21,598 | +€1,791 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €7,205 | €12,142 | +€4,937 | +68.5% |
| Trade debts | 44 | €1,164 | €885 | -€279 | -24.0% |
| Suppliers | 440/4 | €1,164 | €885 | -€279 | -24.0% |
| Taxes, remuneration and social security | 45 | €8,380 | €8,571 | +€191 | +2.3% |
| Taxes | 450/3 | €8,380 | €8,571 | +€191 | +2.3% |
| Other amounts payable | 47/48 | €3,058 | - | -€3,058 | |
| Remuneration, social security and pensions | 62 | - | €177 | +€177 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,056 | €11,614 | +€6,559 | +130% |
| Other operating charges | 640/8 | - | €146 | +€146 | |
| Gross operating margin | 9900 | €23,901 | €39,348 | +€15,447 | +64.6% |
| Operating profit (loss) | 9901 | €18,845 | €27,410 | +€8,565 | +45.4% |
| Financial income | 75/76B | €15 | €85 | +€70 | +465% |
| Recurring financial income | 75 | €15 | €85 | +€70 | +465% |
| Financial charges | 65/66B | €2,144 | €2,735 | +€591 | +27.6% |
| Recurring financial charges | 65 | €2,144 | €2,735 | +€591 | +27.6% |
| Profit (loss) for the period before taxes | 9903 | €16,716 | €24,759 | +€8,043 | +48.1% |
| Income taxes | 67/77 | €3,990 | €4,536 | +€545 | +13.7% |
| Profit (loss) for the period | 9904 | €12,726 | €20,224 | +€7,498 | +58.9% |
| Profit (loss) for the period to be appropriated | 9905 | €12,726 | €20,224 | +€7,498 | +58.9% |
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 29 October 2026 via checked.be.