HPP BELGIUM: 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.
What changed
HPP BELGIUM
NACE 82.920, Office administrative, office support and other business support activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€179,292
2024 · -€668,437+€489,145
Equity
-€1.2m
2024 · -€1.1m-€179,292
Cash
€65,613
2024 · €44,905+€20,709
Balance sheet total
€7.8m
2024 · €8.3m-€578,312
Largest movements
Assets
- Tangible fixed assets -€709,072
down €709,072 (-9.4%), from €7.5m to €6.8m
- Deferred charges and accrued income +€192,754
up €192,754 (+205%), from €94,120 to €286,874
- Receivables within one year -€154,383
down €154,383 (-56.4%), from €273,810 to €119,427
of which Trade receivables: -€145,270
- Stocks and contracts +€87,508
up €87,508 (+24.6%), from €355,903 to €443,411
Equity and liabilities
- Debts after one year -€524,531
down €524,531 (-16.7%), from €3.1m to €2.6m
- Profit (loss) carried forward -€179,292
down €179,292 (-5.9%), from -€3.0m to -€3.2m
- Other debts +€125,591
up €125,591 (+2.9%), from €4.4m to €4.5m
Income statement
- Gross operating margin +€719,487
up €719,487 (+22.0%), from €3.3m to €4.0m
- Staff costs +€180,257
up €180,257 (+7.3%), from €2.5m to €2.6m
- Depreciation +€78,327
up €78,327 (+6.9%), from €1.1m to €1.2m
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.
Result 2024
-€668,437
Gross operating margin
+€719,487
Staff costs
-€180,257
Depreciation
-€78,327
Write-downs
-€576
Other operating charges
+€70
Other operating items
-€2,968
Financial income
+€7,968
Financial charges
+€22,984
Taxes
+€765
Result 2025
-€179,292
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€1.1m
Investment
-€488,791
Financing
-€590,809
Cash 2024
€44,905
From operations (derived)
+€1.1m
Net result for the year
-€179,292
Depreciation
+€1.2m
Stocks and contracts
-€87,508
Receivables within one year
+€154,383
Deferred charges and accrued income
-€192,754
Trade debts
+€8,927
Tax, wage and social debts
+€28,673
Other debts
+€125,591
Accrued charges and deferred income
+€28,598
Investment (derived)
-€488,791
Investment in fixed assets (net)
-€488,791
Financing
-€590,809
Debts after one year
-€524,531
Current portion of long-term debt
-€66,278
Cash 2025
€65,613
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,337,808 | €7,759,496 | -€578,312 | -6.9% |
| Fixed assets | 21/28 | €7,569,071 | €6,844,171 | -€724,899 | -9.6% |
| Intangible fixed assets | 21 | €6,207 | €4,417 | -€1,790 | -28.8% |
| Tangible fixed assets | 22/27 | €7,547,876 | €6,838,804 | -€709,072 | -9.4% |
| Land and buildings | 22 | €3,692,741 | €3,506,109 | -€186,633 | -5.1% |
| Plant, machinery and equipment | 23 | €3,611,870 | €3,318,892 | -€292,979 | -8.1% |
| Furniture and vehicles | 24 | €8,548 | €10,931 | +€2,383 | +27.9% |
| Leasing and similar rights | 25 | €7,216 | €2,873 | -€4,343 | -60.2% |
| Assets under construction and advance payments | 27 | €227,500 | - | -€227,500 | |
| Financial fixed assets | 28 | €14,988 | €950 | -€14,038 | -93.7% |
| Current assets | 29/58 | €768,738 | €915,325 | +€146,587 | +19.1% |
| Stocks and contracts in progress | 3 | €355,903 | €443,411 | +€87,508 | +24.6% |
| Stocks | 30/36 | €355,903 | €443,411 | +€87,508 | +24.6% |
| Amounts receivable within one year | 40/41 | €273,810 | €119,427 | -€154,383 | -56.4% |
| Trade receivables | 40 | €264,471 | €119,201 | -€145,270 | -54.9% |
| Other amounts receivable | 41 | €9,339 | €225 | -€9,113 | -97.6% |
| Cash at bank and in hand | 54/58 | €44,905 | €65,613 | +€20,709 | +46.1% |
| Deferred charges and accrued income | 490/1 | €94,120 | €286,874 | +€192,754 | +205% |
| Total equity and liabilities | 10/49 | €8,337,808 | €7,759,496 | -€578,312 | -6.9% |
| Equity | 10/15 | -€1,060,541 | -€1,239,833 | -€179,292 | -16.9% |
| Contributions | 10/11 | €900,000 | €900,000 | = | 0.0% |
| Reserves | 13 | €1,081,910 | €1,081,910 | = | 0.0% |
| Distributable reserves | 133 | €1,081,910 | €1,081,910 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,042,451 | -€3,221,743 | -€179,292 | -5.9% |
| Amounts payable | 17/49 | €9,398,349 | €8,999,329 | -€399,020 | -4.2% |
| Amounts payable after more than one year | 17 | €3,147,836 | €2,623,305 | -€524,531 | -16.7% |
| Financial debts | 170/4 | €3,147,836 | €2,623,305 | -€524,531 | -16.7% |
| Amounts payable within one year | 42/48 | €6,216,513 | €6,313,426 | +€96,913 | +1.6% |
| Current portion of amounts payable after more than one year | 42 | €916,354 | €850,075 | -€66,278 | -7.2% |
| Trade debts | 44 | €654,654 | €663,581 | +€8,927 | +1.4% |
| Suppliers | 440/4 | €654,654 | €663,581 | +€8,927 | +1.4% |
| Taxes, remuneration and social security | 45 | €243,964 | €272,638 | +€28,673 | +11.8% |
| Taxes | 450/3 | €27,212 | €58,699 | +€31,487 | +116% |
| Remuneration and social security | 454/9 | €216,752 | €213,938 | -€2,814 | -1.3% |
| Other amounts payable | 47/48 | €4,401,541 | €4,527,131 | +€125,591 | +2.9% |
| Accrued charges and deferred income | 492/3 | €34,000 | €62,598 | +€28,598 | +84.1% |
| Remuneration, social security and pensions | 62 | €2,462,068 | €2,642,325 | +€180,257 | +7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,135,363 | €1,213,690 | +€78,327 | +6.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €576 | +€576 | |
| Other operating charges | 640/8 | €55,524 | €55,454 | -€70 | -0.1% |
| Non-recurring operating charges | 66A | - | €2,968 | +€2,968 | |
| Gross operating margin | 9900 | €3,273,681 | €3,993,168 | +€719,487 | +22.0% |
| Operating profit (loss) | 9901 | -€379,274 | €78,155 | +€457,429 | |
| Financial income | 75/76B | €1 | €7,968 | +€7,968 | +995,956% |
| Recurring financial income | 75 | €1 | €7,968 | +€7,968 | +995,956% |
| Financial charges | 65/66B | €287,525 | €264,541 | -€22,984 | -8.0% |
| Recurring financial charges | 65 | €287,525 | €264,541 | -€22,984 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | -€666,798 | -€178,417 | +€488,380 | +73.2% |
| Income taxes | 67/77 | €1,640 | €875 | -€765 | -46.6% |
| Profit (loss) for the period | 9904 | -€668,437 | -€179,292 | +€489,145 | +73.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€668,437 | -€179,292 | +€489,145 | +73.2% |
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 30 October 2026 via checked.be.