HPHOLD: 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.
HPHOLD
Largest movements
- Receivables after one year +€145,000
up €145,000 (+14.6%), from €995,000 to €1.1m
- Tangible fixed assets -€84,609
down €84,609 (-3.2%), from €2.7m to €2.6m
of which Land and buildings: -€83,510
- Cash -€55,981
down €55,981 (-83.4%), from €67,097 to €11,115
mainly Debts after one year (-€1.2m) and Receivables after one year (-€145,000)
- Other debts +€1.2m
up €1.2m (+9,820%), from €11,950 to €1.2m
- Debts after one year -€1.2m
down €1.2m (-97.9%), from €1.2m to €25,000
- Profit (loss) carried forward +€105,473
up €105,473, from -€34,905 to €70,569
- Reserves -€62,518
down €62,518 (-3.5%), from €1.8m to €1.7m
of which Tax-exempt reserves: -€62,518
- Taxes -€89,863
down €89,863 (-73.6%), from €122,016 to €32,153
- Gross operating margin -€84,973
down €84,973 (-34.1%), from €248,881 to €163,908
- Financial charges -€4,111
down €4,111 (-9.1%), from €45,398 to €41,287
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 | €3,754,200 | €3,780,740 | +€26,539 | +0.7% |
| Fixed assets | 21/28 | €2,665,999 | €2,581,390 | -€84,609 | -3.2% |
| Tangible fixed assets | 22/27 | €2,665,999 | €2,581,390 | -€84,609 | -3.2% |
| Land and buildings | 22 | €2,663,787 | €2,580,277 | -€83,510 | -3.1% |
| Other tangible fixed assets | 26 | €2,212 | €1,113 | -€1,099 | -49.7% |
| Current assets | 29/58 | €1,088,201 | €1,199,350 | +€111,148 | +10.2% |
| Amounts receivable after more than one year | 29 | €995,000 | €1,140,000 | +€145,000 | +14.6% |
| Other amounts receivable | 291 | €995,000 | €1,140,000 | +€145,000 | +14.6% |
| Amounts receivable within one year | 40/41 | €26,105 | €48,234 | +€22,129 | +84.8% |
| Trade receivables | 40 | €728 | - | -€728 | |
| Other amounts receivable | 41 | €25,377 | €48,234 | +€22,857 | +90.1% |
| Cash at bank and in hand | 54/58 | €67,097 | €11,115 | -€55,981 | -83.4% |
| Total equity and liabilities | 10/49 | €3,754,200 | €3,780,740 | +€26,539 | +0.7% |
| Equity | 10/15 | €1,952,499 | €1,995,454 | +€42,955 | +2.2% |
| Contributions | 10/11 | €189,500 | €189,500 | = | 0.0% |
| Reserves | 13 | €1,797,904 | €1,735,386 | -€62,518 | -3.5% |
| Tax-exempt reserves | 132 | €1,778,954 | €1,716,436 | -€62,518 | -3.5% |
| Distributable reserves | 133 | €18,950 | €18,950 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,905 | €70,569 | +€105,473 | |
| Provisions and deferred taxes | 16 | €592,985 | €572,145 | -€20,839 | -3.5% |
| Deferred taxes | 168 | €592,985 | €572,145 | -€20,839 | -3.5% |
| Amounts payable | 17/49 | €1,208,717 | €1,213,140 | +€4,423 | +0.4% |
| Amounts payable after more than one year | 17 | €1,175,000 | €25,000 | -€1.2m | -97.9% |
| Other amounts payable | 178/9 | €1,175,000 | €25,000 | -€1.2m | -97.9% |
| Amounts payable within one year | 42/48 | €33,717 | €1,188,140 | +€1.2m | +3,424% |
| Trade debts | 44 | €3,043 | €2,748 | -€295 | -9.7% |
| Suppliers | 440/4 | €3,043 | €2,748 | -€295 | -9.7% |
| Taxes, remuneration and social security | 45 | €18,723 | - | -€18,723 | |
| Taxes | 450/3 | €18,723 | - | -€18,723 | |
| Other amounts payable | 47/48 | €11,950 | €1,185,391 | +€1.2m | +9,820% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,609 | €84,609 | = | 0.0% |
| Other operating charges | 640/8 | €8,846 | €9,122 | +€276 | +3.1% |
| Gross operating margin | 9900 | €248,881 | €163,908 | -€84,973 | -34.1% |
| Operating profit (loss) | 9901 | €155,426 | €70,176 | -€85,249 | -54.8% |
| Financial income | 75/76B | €26,186 | €25,379 | -€807 | -3.1% |
| Recurring financial income | 75 | €26,186 | €25,379 | -€807 | -3.1% |
| Financial charges | 65/66B | €45,398 | €41,287 | -€4,111 | -9.1% |
| Recurring financial charges | 65 | €45,398 | €41,287 | -€4,111 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €136,213 | €54,269 | -€81,945 | -60.2% |
| Transfer from deferred taxes | 780 | €20,839 | €20,839 | = | 0.0% |
| Income taxes | 67/77 | €122,016 | €32,153 | -€89,863 | -73.6% |
| Profit (loss) for the period | 9904 | €35,037 | €42,955 | +€7,918 | +22.6% |
| Transfer from tax-exempt reserves | 789 | €62,518 | €62,518 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €97,555 | €105,473 | +€7,918 | +8.1% |
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 27 October 2026 via checked.be.