HPWG: 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.
HPWG
Largest movements
- Tangible fixed assets -€12,942
down €12,942 (-21.5%), from €60,329 to €47,387
of which Other tangible fixed assets: -€11,167
- Current investments -€5,986
down €5,986 (-73.8%), from €8,110 to €2,123
- Cash -€1,101
down €1,101 (-32.8%), from €3,354 to €2,253
mainly Net result for the year (-€20,072)
- Profit (loss) carried forward -€20,072
down €20,072 (-21.6%), from -€93,075 to -€113,147
- Gross operating margin -€505
down €505 (-13.5%), from -€3,742 to -€4,247
- Other operating charges +€83
up €83 (+3.1%), from €2,661 to €2,744
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 | €72,886 | €52,857 | -€20,029 | -27.5% |
| Fixed assets | 21/28 | €60,329 | €47,387 | -€12,942 | -21.5% |
| Tangible fixed assets | 22/27 | €60,329 | €47,387 | -€12,942 | -21.5% |
| Land and buildings | 22 | €24,121 | €22,346 | -€1,775 | -7.4% |
| Other tangible fixed assets | 26 | €36,208 | €25,041 | -€11,167 | -30.8% |
| Current assets | 29/58 | €12,557 | €5,470 | -€7,087 | -56.4% |
| Amounts receivable within one year | 40/41 | €1,093 | €1,093 | = | 0.0% |
| Other amounts receivable | 41 | €1,093 | €1,093 | = | 0.0% |
| Current investments | 50/53 | €8,110 | €2,123 | -€5,986 | -73.8% |
| Cash at bank and in hand | 54/58 | €3,354 | €2,253 | -€1,101 | -32.8% |
| Total equity and liabilities | 10/49 | €72,886 | €52,857 | -€20,029 | -27.5% |
| Equity | 10/15 | -€24,904 | -€44,976 | -€20,072 | -80.6% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€93,075 | -€113,147 | -€20,072 | -21.6% |
| Amounts payable | 17/49 | €97,790 | €97,833 | +€43 | 0.0% |
| Amounts payable within one year | 42/48 | €97,790 | €97,833 | +€43 | 0.0% |
| Advances received on contracts in progress | 46 | €1,390 | €1,390 | = | 0.0% |
| Other amounts payable | 47/48 | €96,400 | €96,443 | +€43 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,942 | €12,942 | = | 0.0% |
| Other operating charges | 640/8 | €2,661 | €2,744 | +€83 | +3.1% |
| Gross operating margin | 9900 | -€3,742 | -€4,247 | -€505 | -13.5% |
| Operating profit (loss) | 9901 | -€19,345 | -€19,933 | -€588 | -3.0% |
| Financial income | 75/76B | €23 | €14 | -€9 | -39.1% |
| Recurring financial income | 75 | €23 | €14 | -€9 | -39.1% |
| Financial charges | 65/66B | €153 | €153 | = | 0.0% |
| Recurring financial charges | 65 | €153 | €153 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€19,475 | -€20,072 | -€597 | -3.1% |
| Profit (loss) for the period | 9904 | -€19,475 | -€20,072 | -€597 | -3.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,475 | -€20,072 | -€597 | -3.1% |
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 27 October 2026 via checked.be.