HPPO: what changed
HPPO
Largest movements
- Tangible fixed assets -€8,786
down €8,786 (-50.0%), from €17,580 to €8,794
of which Plant, machinery and equipment: -€4,769
- Cash +€8,375
new in 2025: €8,375
mainly Tax, wage and social debts (+€14,817) and Net result for the year (+€11,355)
- Receivables within one year +€4,926
up €4,926 (+4.5%), from €109,493 to €114,418
of which Trade receivables: +€3,763
- Tax, wage and social debts +€14,817
up €14,817 (+81.8%), from €18,102 to €32,919
of which Remuneration and social security: +€7,805
- Reserves +€11,355
up €11,355 (+8.8%), from €129,020 to €140,375
of which Distributable reserves: +€11,355
- Debts after one year -€11,114
down €11,114 (-100%), from €11,114 to €0
- Current portion of long-term debt -€4,324
down €4,324 (-28.0%), from €15,437 to €11,114
- Trade debts -€3,764
down €3,764 (-37.0%), from €10,164 to €6,400
- Gross operating margin +€7,328
up €7,328 (+29.6%), from €24,733 to €32,061
- Taxes +€5,228
up €5,228 (+93.2%), from €5,612 to €10,840
- Financial charges -€2,296
down €2,296 (-64.5%), from €3,557 to €1,261
- Other operating charges -€1,088
down €1,088 (-63.5%), from €1,714 to €626
- Depreciation -€603
down €603 (-6.4%), from €9,389 to €8,786
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €291,156 | €294,430 | +€3,274 | +1.1% |
| Fixed assets | 21/28 | €180,423 | €171,637 | -€8,786 | -4.9% |
| Tangible fixed assets | 22/27 | €17,580 | €8,794 | -€8,786 | -50.0% |
| Plant, machinery and equipment | 23 | €5,958 | €1,189 | -€4,769 | -80.0% |
| Furniture and vehicles | 24 | €11,622 | €7,605 | -€4,017 | -34.6% |
| Financial fixed assets | 28 | €162,843 | €162,843 | = | 0.0% |
| Current assets | 29/58 | €110,733 | €122,793 | +€12,060 | +10.9% |
| Amounts receivable within one year | 40/41 | €109,493 | €114,418 | +€4,926 | +4.5% |
| Trade receivables | 40 | €21,816 | €25,579 | +€3,763 | +17.2% |
| Other amounts receivable | 41 | €87,677 | €88,839 | +€1,163 | +1.3% |
| Cash at bank and in hand | 54/58 | - | €8,375 | +€8,375 | |
| Deferred charges and accrued income | 490/1 | €1,240 | €0 | -€1,240 | -100% |
| Total equity and liabilities | 10/49 | €291,156 | €294,430 | +€3,274 | +1.1% |
| Equity | 10/15 | €212,798 | €224,153 | +€11,355 | +5.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €129,020 | €140,375 | +€11,355 | +8.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €129,020 | €140,375 | +€11,355 | +8.8% |
| Profit (loss) carried forward | 14 | €65,178 | €65,178 | = | 0.0% |
| Amounts payable | 17/49 | €78,358 | €70,277 | -€8,081 | -10.3% |
| Amounts payable after more than one year | 17 | €11,114 | €0 | -€11,114 | -100% |
| Financial debts | 170/4 | €11,114 | €0 | -€11,114 | -100% |
| Amounts payable within one year | 42/48 | €66,860 | €70,277 | +€3,417 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €15,437 | €11,114 | -€4,324 | -28.0% |
| Financial debts | 43 | €3,312 | €0 | -€3,312 | -100% |
| Credit institutions | 430/8 | €3,312 | €0 | -€3,312 | -100% |
| Trade debts | 44 | €10,164 | €6,400 | -€3,764 | -37.0% |
| Suppliers | 440/4 | €10,164 | €6,400 | -€3,764 | -37.0% |
| Advances received on contracts in progress | 46 | €19,844 | €19,844 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €18,102 | €32,919 | +€14,817 | +81.8% |
| Taxes | 450/3 | €16,137 | €23,149 | +€7,012 | +43.5% |
| Remuneration and social security | 454/9 | €1,965 | €9,770 | +€7,805 | +397% |
| Accrued charges and deferred income | 492/3 | €384 | €0 | -€384 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,389 | €8,786 | -€603 | -6.4% |
| Other operating charges | 640/8 | €1,714 | €626 | -€1,088 | -63.5% |
| Gross operating margin | 9900 | €24,733 | €32,061 | +€7,328 | +29.6% |
| Operating profit (loss) | 9901 | €13,630 | €22,649 | +€9,019 | +66.2% |
| Financial income | 75/76B | €1,392 | €808 | -€584 | -42.0% |
| Recurring financial income | 75 | €1,392 | €808 | -€584 | -42.0% |
| Financial charges | 65/66B | €3,557 | €1,261 | -€2,296 | -64.5% |
| Recurring financial charges | 65 | €3,557 | €1,261 | -€2,296 | -64.5% |
| Profit (loss) for the period before taxes | 9903 | €11,466 | €22,196 | +€10,730 | +93.6% |
| Income taxes | 67/77 | €5,612 | €10,840 | +€5,228 | +93.2% |
| Profit (loss) for the period | 9904 | €5,854 | €11,355 | +€5,502 | +94.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,854 | €11,355 | +€5,502 | +94.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.