HPLUS VASTGOED: 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.
HPLUS VASTGOED
Largest movements
- Stocks and contracts -€3.1m
down €3.1m (-99.6%), from €3.1m to €12,956
of which Contracts in progress: -€3.1m
- Receivables within one year +€449,757
up €449,757 (+60.6%), from €741,715 to €1.2m
of which Other amounts receivable: +€386,543
- Cash +€192,148
up €192,148 (+152%), from €126,193 to €318,342
mainly Stocks and contracts (+€3.1m) and Other debts (+€20,353)
- Advances received -€2.4m
down €2.4m (-100%), from €2.4m to €0
- Write-downs -€65,248
down €65,248, from €32,624 to -€32,624
- Staff costs -€20,542
down €20,542 (-63.5%), from €32,356 to €11,814
- Other operating charges -€5,099
down €5,099 (-31.6%), from €16,152 to €11,053
- Gross operating margin -€2,693
down €2,693 (-6.4%), from €42,319 to €39,627
- Depreciation -€2,241
down €2,241 (-12.7%), from €17,686 to €15,446
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 | €4,240,127 | €1,812,433 | -€2.4m | -57.3% |
| Fixed assets | 21/28 | €304,110 | €288,664 | -€15,446 | -5.1% |
| Tangible fixed assets | 22/27 | €35,701 | €20,256 | -€15,446 | -43.3% |
| Plant, machinery and equipment | 23 | €2,766 | €1,735 | -€1,032 | -37.3% |
| Furniture and vehicles | 24 | €1,594 | €346 | -€1,248 | -78.3% |
| Other tangible fixed assets | 26 | €31,341 | €18,175 | -€13,166 | -42.0% |
| Financial fixed assets | 28 | €268,408 | €268,408 | = | 0.0% |
| Current assets | 29/58 | €3,936,018 | €1,523,769 | -€2.4m | -61.3% |
| Stocks and contracts in progress | 3 | €3,067,156 | €12,956 | -€3.1m | -99.6% |
| Stocks | 30/36 | €9,796 | €9,796 | = | 0.0% |
| Contracts in progress | 37 | €3,057,361 | €3,160 | -€3.1m | -99.9% |
| Amounts receivable within one year | 40/41 | €741,715 | €1,191,472 | +€449,757 | +60.6% |
| Trade receivables | 40 | €189,831 | €253,045 | +€63,214 | +33.3% |
| Other amounts receivable | 41 | €551,884 | €938,427 | +€386,543 | +70.0% |
| Cash at bank and in hand | 54/58 | €126,193 | €318,342 | +€192,148 | +152% |
| Deferred charges and accrued income | 490/1 | €953 | €1,000 | +€47 | +5.0% |
| Total equity and liabilities | 10/49 | €4,240,127 | €1,812,433 | -€2.4m | -57.3% |
| Equity | 10/15 | €650,902 | €665,210 | +€14,308 | +2.2% |
| Contributions | 10/11 | €375,150 | €375,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €275,752 | €290,060 | +€14,308 | +5.2% |
| Amounts payable | 17/49 | €3,589,225 | €1,147,223 | -€2.4m | -68.0% |
| Amounts payable after more than one year | 17 | €14,060 | €3,537 | -€10,523 | -74.8% |
| Financial debts | 170/4 | €14,060 | €3,537 | -€10,523 | -74.8% |
| Amounts payable within one year | 42/48 | €3,575,165 | €1,143,686 | -€2.4m | -68.0% |
| Current portion of amounts payable after more than one year | 42 | €10,394 | €10,523 | +€130 | +1.2% |
| Financial debts | 43 | €1,544 | €24 | -€1,521 | -98.5% |
| Credit institutions | 430/8 | €1,544 | €24 | -€1,521 | -98.5% |
| Trade debts | 44 | €38,336 | €13,096 | -€25,241 | -65.8% |
| Suppliers | 440/4 | €38,336 | €13,096 | -€25,241 | -65.8% |
| Advances received on contracts in progress | 46 | €2,405,917 | €0 | -€2.4m | -100% |
| Taxes, remuneration and social security | 45 | €19,283 | €0 | -€19,283 | -100% |
| Taxes | 450/3 | €16,488 | €0 | -€16,488 | -100% |
| Remuneration and social security | 454/9 | €2,795 | €0 | -€2,795 | -100% |
| Other amounts payable | 47/48 | €1,099,691 | €1,120,044 | +€20,353 | +1.9% |
| Non-recurring operating income | 76A | €2,000 | €0 | -€2,000 | -100% |
| Remuneration, social security and pensions | 62 | €32,356 | €11,814 | -€20,542 | -63.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,686 | €15,446 | -€2,241 | -12.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €32,624 | -€32,624 | -€65,248 | |
| Other operating charges | 640/8 | €16,152 | €11,053 | -€5,099 | -31.6% |
| Gross operating margin | 9900 | €42,319 | €39,627 | -€2,693 | -6.4% |
| Operating profit (loss) | 9901 | -€56,499 | €33,938 | +€90,437 | |
| Financial income | 75/76B | €2,664 | €4,236 | +€1,572 | +59.0% |
| Recurring financial income | 75 | €2,664 | €4,236 | +€1,572 | +59.0% |
| Financial charges | 65/66B | €22,590 | €23,866 | +€1,277 | +5.7% |
| Recurring financial charges | 65 | €22,590 | €23,866 | +€1,277 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | -€76,425 | €14,308 | +€90,732 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€76,425 | €14,308 | +€90,732 | |
| Profit (loss) for the period to be appropriated | 9905 | -€76,425 | €14,308 | +€90,732 |
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 25 October 2026 via checked.be.