HPSC: 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.
HPSC
Largest movements
- Cash -€33,925
down €33,925 (-46.5%), from €72,912 to €38,987
mainly Contributions, distributions and other (-€39,300) and Receivables within one year (-€16,899)
- Receivables within one year +€16,899
up €16,899 (+108.2%), from €15,613 to €32,512
of which Trade receivables: +€17,850
- Tangible fixed assets -€7,337
down €7,337 (-47.3%), from €15,522 to €8,185
of which Furniture and vehicles: -€7,253
- Reserves -€17,100
down €17,100 (-22.4%), from €76,360 to €59,260
- Other debts -€16,000
down €16,000 (-98.7%), from €16,217 to €217
- Tax, wage and social debts +€7,925
up €7,925 (+321.4%), from €2,466 to €10,391
- Trade debts +€1,515
up €1,515 (+57.1%), from €2,654 to €4,169
- Gross operating margin +€9,831
up €9,831 (+29.2%), from €33,723 to €43,554
- Taxes +€2,716
up €2,716 (+35.9%), from €7,572 to €10,288
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.
Cash bridge derived
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 | €104,201 | €80,646 | -€23,555 | -22.6% |
| Fixed assets | 21/28 | €15,522 | €8,185 | -€7,337 | -47.3% |
| Tangible fixed assets | 22/27 | €15,522 | €8,185 | -€7,337 | -47.3% |
| Plant, machinery and equipment | 23 | €4,903 | €5,269 | +€366 | +7.5% |
| Furniture and vehicles | 24 | €7,253 | - | -€7,253 | |
| Other tangible fixed assets | 26 | €3,366 | €2,915 | -€451 | -13.4% |
| Current assets | 29/58 | €88,679 | €72,461 | -€16,218 | -18.3% |
| Amounts receivable within one year | 40/41 | €15,613 | €32,512 | +€16,899 | +108.2% |
| Trade receivables | 40 | €14,205 | €32,055 | +€17,850 | +125.7% |
| Other amounts receivable | 41 | €1,408 | €456 | -€952 | -67.6% |
| Cash at bank and in hand | 54/58 | €72,912 | €38,987 | -€33,925 | -46.5% |
| Deferred charges and accrued income | 490/1 | €154 | €963 | +€809 | +525.5% |
| Total equity and liabilities | 10/49 | €104,201 | €80,646 | -€23,555 | -22.6% |
| Equity | 10/15 | €82,864 | €65,868 | -€16,996 | -20.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €76,360 | €59,260 | -€17,100 | -22.4% |
| Distributable reserves | 133 | €76,360 | €59,260 | -€17,100 | -22.4% |
| Profit (loss) carried forward | 14 | €304 | €408 | +€104 | +34.3% |
| Amounts payable | 17/49 | €21,337 | €14,778 | -€6,559 | -30.7% |
| Amounts payable within one year | 42/48 | €21,337 | €14,778 | -€6,559 | -30.7% |
| Trade debts | 44 | €2,654 | €4,169 | +€1,515 | +57.1% |
| Suppliers | 440/4 | €2,654 | €4,169 | +€1,515 | +57.1% |
| Taxes, remuneration and social security | 45 | €2,466 | €10,391 | +€7,925 | +321.4% |
| Taxes | 450/3 | €2,466 | €10,391 | +€7,925 | +321.4% |
| Other amounts payable | 47/48 | €16,217 | €217 | -€16,000 | -98.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,533 | €9,903 | +€370 | +3.9% |
| Other operating charges | 640/8 | €1,026 | €1,167 | +€141 | +13.7% |
| Gross operating margin | 9900 | €33,723 | €43,554 | +€9,831 | +29.2% |
| Operating profit (loss) | 9901 | €23,164 | €32,485 | +€9,321 | +40.2% |
| Financial income | 75/76B | €96 | €189 | +€93 | +96.9% |
| Recurring financial income | 75 | €96 | €189 | +€93 | +96.9% |
| Financial charges | 65/66B | €83 | €82 | -€1 | -1.5% |
| Recurring financial charges | 65 | €83 | €82 | -€1 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €23,177 | €32,592 | +€9,415 | +40.6% |
| Income taxes | 67/77 | €7,572 | €10,288 | +€2,716 | +35.9% |
| Profit (loss) for the period | 9904 | €15,605 | €22,304 | +€6,699 | +42.9% |
| Profit (loss) for the period to be appropriated | 9905 | €15,605 | €22,304 | +€6,699 | +42.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.