HPS: what changed
Two fiscal 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.
HPS
Largest movements
- Financial fixed assets +€6.5m
up €6.5m (+50.0%), from €13.0m to €19.5m
- Receivables within one year -€993,883
down €993,883 (-16.0%), from €6.2m to €5.2m
of which Other amounts receivable: -€1.1m
- Cash -€418,108
down €418,108 (-52.2%), from €801,344 to €383,235
mainly Investment in fixed assets (net) (-€6.5m) and Net result for the year (-€2.7m)
- Other debts +€7.7m
up €7.7m (+31.4%), from €24.6m to €32.3m
- Profit (loss) carried forward -€2.5m
down €2.5m, from €794,998 to -€1.7m
- Trade debts +€739,894
up €739,894 (+151.5%), from €488,424 to €1.2m
- Debts after one year -€425,000
down €425,000 (-17.0%), from €2.5m to €2.1m
- Financial income -€2.2m
down €2.2m (-91.4%), from €2.4m to €202,582
- Financial charges +€1.9m
up €1.9m (+190.0%), from €998,631 to €2.9m
- Taxes -€369,399
down €369,399 (-100.0%), from €369,399 to €0
- Other operating charges +€3,325
up €3,325 (+84.2%), from €3,950 to €7,275
- Gross operating margin -€663
down €663 (-212.9%), from -€312 to -€975
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €30,900,405 | €35,988,414 | +€5.1m | +16.5% |
| Fixed assets | 21/28 | €13,000,000 | €19,500,000 | +€6.5m | +50.0% |
| Financial fixed assets | 28 | €13,000,000 | €19,500,000 | +€6.5m | +50.0% |
| Current assets | 29/58 | €17,900,405 | €16,488,414 | -€1.4m | -7.9% |
| Amounts receivable within one year | 40/41 | €6,193,381 | €5,199,498 | -€993,883 | -16.0% |
| Trade receivables | 40 | €28,244 | €144,695 | +€116,451 | +412.3% |
| Other amounts receivable | 41 | €6,165,138 | €5,054,803 | -€1.1m | -18.0% |
| Current investments | 50/53 | €10,785,151 | €10,785,151 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €801,344 | €383,235 | -€418,108 | -52.2% |
| Deferred charges and accrued income | 490/1 | €120,529 | €120,529 | = | 0.0% |
| Total equity and liabilities | 10/49 | €30,900,405 | €35,988,414 | +€5.1m | +16.5% |
| Equity | 10/15 | €2,871,835 | €170,097 | -€2.7m | -94.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,058,237 | €1,847,737 | -€210,500 | -10.2% |
| Tax-exempt reserves | 132 | €1,841,997 | €1,631,497 | -€210,500 | -11.4% |
| Distributable reserves | 133 | €216,240 | €216,240 | = | 0.0% |
| Profit (loss) carried forward | 14 | €794,998 | -€1,696,240 | -€2.5m | |
| Amounts payable | 17/49 | €28,028,571 | €35,818,317 | +€7.8m | +27.8% |
| Amounts payable after more than one year | 17 | €2,500,000 | €2,075,000 | -€425,000 | -17.0% |
| Financial debts | 170/4 | €2,500,000 | €2,075,000 | -€425,000 | -17.0% |
| Amounts payable within one year | 42/48 | €25,528,571 | €33,743,317 | +€8.2m | +32.2% |
| Current portion of amounts payable after more than one year | 42 | €225,000 | €225,000 | = | 0.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €488,424 | €1,228,317 | +€739,894 | +151.5% |
| Suppliers | 440/4 | €488,424 | €1,228,317 | +€739,894 | +151.5% |
| Taxes, remuneration and social security | 45 | €237,618 | €0 | -€237,618 | -100.0% |
| Taxes | 450/3 | €237,618 | €0 | -€237,618 | -100.0% |
| Other amounts payable | 47/48 | €24,577,529 | €32,290,000 | +€7.7m | +31.4% |
| Other operating charges | 640/8 | €3,950 | €7,275 | +€3,325 | +84.2% |
| Gross operating margin | 9900 | -€312 | -€975 | -€663 | -212.9% |
| Operating profit (loss) | 9901 | -€4,261 | -€8,250 | -€3,989 | -93.6% |
| Financial income | 75/76B | €2,359,641 | €202,582 | -€2.2m | -91.4% |
| Recurring financial income | 75 | €2,359,641 | €202,582 | -€2.2m | -91.4% |
| Financial charges | 65/66B | €998,631 | €2,896,070 | +€1.9m | +190.0% |
| Recurring financial charges | 65 | €998,631 | €2,896,070 | +€1.9m | +190.0% |
| Profit (loss) for the period before taxes | 9903 | €1,356,749 | -€2,701,738 | -€4.1m | |
| Income taxes | 67/77 | €369,399 | €0 | -€369,399 | -100.0% |
| Profit (loss) for the period | 9904 | €987,351 | -€2,701,738 | -€3.7m | |
| Transfer from tax-exempt reserves | 789 | €210,500 | €210,500 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €999,997 | €0 | -€999,997 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €197,853 | -€2,491,238 | -€2.7m |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.