HPS CONSTRUCT: 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.
HPS CONSTRUCT
Largest movements
- Tangible fixed assets +€543,935
up €543,935 (+240%), from €226,956 to €770,891
of which Land and buildings: +€502,013
- Stocks and contracts -€182,004
down €182,004 (-13.4%), from €1.4m to €1.2m
- Receivables within one year +€148,675
up €148,675 (+19.8%), from €749,339 to €898,014
of which Trade receivables: +€249,172
- Cash +€51,020
up €51,020 (+50.3%), from €101,385 to €152,404
mainly Debts after one year (+€457,900) and Trade debts (+€226,359)
- Short-term financial debts -€580,000
down €580,000 (-41.4%), from €1.4m to €821,000
- Debts after one year +€457,900
up €457,900 (+250%), from €183,307 to €641,207
- Trade debts +€226,359
up €226,359 (+37.5%), from €603,544 to €829,903
- Profit (loss) carried forward +€187,619
up €187,619 (+89.1%), from €210,590 to €398,209
- Tax, wage and social debts +€143,444
up €143,444 (+1,466%), from €9,787 to €153,231
of which Taxes: +€125,791
- Gross operating margin +€206,508
up €206,508 (+21.7%), from €950,486 to €1.2m
- Depreciation +€61,647
up €61,647 (+74.7%), from €82,527 to €144,174
- Financial charges +€33,093
up €33,093 (+41.7%), from €79,393 to €112,486
- Taxes +€30,170
up €30,170 (+130%), from €23,181 to €53,351
- Other operating charges -€23,175
down €23,175 (-70.9%), from €32,690 to €9,516
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 | €2,611,287 | €3,183,052 | +€571,765 | +21.9% |
| Fixed assets | 21/28 | €258,564 | €801,194 | +€542,631 | +210% |
| Intangible fixed assets | 21 | €6,566 | €30,179 | +€23,613 | +360% |
| Tangible fixed assets | 22/27 | €226,956 | €770,891 | +€543,935 | +240% |
| Land and buildings | 22 | - | €502,013 | +€502,013 | |
| Plant, machinery and equipment | 23 | €120,688 | €120,103 | -€585 | -0.5% |
| Furniture and vehicles | 24 | €106,144 | €146,640 | +€40,496 | +38.2% |
| Other tangible fixed assets | 26 | €124 | €2,135 | +€2,011 | +1,626% |
| Financial fixed assets | 28 | €25,041 | €124 | -€24,917 | -99.5% |
| Current assets | 29/58 | €2,352,723 | €2,381,858 | +€29,134 | +1.2% |
| Stocks and contracts in progress | 3 | €1,353,846 | €1,171,842 | -€182,004 | -13.4% |
| Stocks | 30/36 | €1,353,846 | €1,171,842 | -€182,004 | -13.4% |
| Amounts receivable within one year | 40/41 | €749,339 | €898,014 | +€148,675 | +19.8% |
| Trade receivables | 40 | €568,872 | €818,045 | +€249,172 | +43.8% |
| Other amounts receivable | 41 | €180,467 | €79,969 | -€100,497 | -55.7% |
| Current investments | 50/53 | €124,875 | €121,500 | -€3,375 | -2.7% |
| Cash at bank and in hand | 54/58 | €101,385 | €152,404 | +€51,020 | +50.3% |
| Deferred charges and accrued income | 490/1 | €23,278 | €38,097 | +€14,819 | +63.7% |
| Total equity and liabilities | 10/49 | €2,611,287 | €3,183,052 | +€571,765 | +21.9% |
| Equity | 10/15 | €355,465 | €539,709 | +€184,244 | +51.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €124,875 | €121,500 | -€3,375 | -2.7% |
| Non-distributable reserves | 130/1 | €124,875 | €121,500 | -€3,375 | -2.7% |
| Own shares acquired | 1312 | €124,875 | €121,500 | -€3,375 | -2.7% |
| Profit (loss) carried forward | 14 | €210,590 | €398,209 | +€187,619 | +89.1% |
| Amounts payable | 17/49 | €2,255,822 | €2,643,343 | +€387,521 | +17.2% |
| Amounts payable after more than one year | 17 | €183,307 | €641,207 | +€457,900 | +250% |
| Financial debts | 170/4 | €183,307 | €641,207 | +€457,900 | +250% |
| Amounts payable within one year | 42/48 | €2,072,515 | €2,002,136 | -€70,378 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €56,082 | €110,767 | +€54,685 | +97.5% |
| Financial debts | 43 | €1,401,000 | €821,000 | -€580,000 | -41.4% |
| Credit institutions | 430/8 | €1,401,000 | €821,000 | -€580,000 | -41.4% |
| Trade debts | 44 | €603,544 | €829,903 | +€226,359 | +37.5% |
| Suppliers | 440/4 | €603,544 | €829,903 | +€226,359 | +37.5% |
| Taxes, remuneration and social security | 45 | €9,787 | €153,231 | +€143,444 | +1,466% |
| Taxes | 450/3 | €9,785 | €135,575 | +€125,791 | +1,286% |
| Remuneration and social security | 454/9 | €3 | €17,656 | +€17,653 | +678,979% |
| Other amounts payable | 47/48 | €2,102 | €87,235 | +€85,133 | +4,051% |
| Remuneration, social security and pensions | 62 | €611,212 | €632,059 | +€20,847 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,527 | €144,174 | +€61,647 | +74.7% |
| Other operating charges | 640/8 | €32,690 | €9,516 | -€23,175 | -70.9% |
| Non-recurring operating charges | 66A | - | €26,697 | +€26,697 | |
| Gross operating margin | 9900 | €950,486 | €1,156,994 | +€206,508 | +21.7% |
| Operating profit (loss) | 9901 | €224,056 | €344,548 | +€120,492 | +53.8% |
| Financial income | 75/76B | €1,037 | €5,532 | +€4,495 | +434% |
| Recurring financial income | 75 | €1,037 | €5,532 | +€4,495 | +434% |
| Financial charges | 65/66B | €79,393 | €112,486 | +€33,093 | +41.7% |
| Recurring financial charges | 65 | €79,393 | €112,486 | +€33,093 | +41.7% |
| Profit (loss) for the period before taxes | 9903 | €145,700 | €237,595 | +€91,895 | +63.1% |
| Income taxes | 67/77 | €23,181 | €53,351 | +€30,170 | +130% |
| Profit (loss) for the period | 9904 | €122,519 | €184,244 | +€61,725 | +50.4% |
| Profit (loss) for the period to be appropriated | 9905 | €122,519 | €184,244 | +€61,725 | +50.4% |
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 13 October 2026 via checked.be.