HRP Generation: 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.
HRP Generation
Largest movements
- Cash -€227,785
down €227,785 (-81.6%), from €279,123 to €51,338
mainly Current investments (-€148,137) and Investment in fixed assets (net) (-€83,000)
- Current investments +€148,137
up €148,137 (+12.3%), from €1.2m to €1.3m
- Tangible fixed assets +€43,785
up €43,785 (+4.8%), from €906,249 to €950,034
of which Assets under construction and advance payments: +€68,800
- Debts after one year -€48,159
down €48,159 (-100.0%), from €48,159 to €0
- Other debts +€40,620
up €40,620 (+5.0%), from €808,213 to €848,833
- Accrued charges and deferred income -€31,961
down €31,961 (-100.0%), from €31,961 to €0
- Reserves +€29,106
up €29,106 (+6.7%), from €436,927 to €466,033
of which Distributable reserves: +€29,106
- Gross operating margin -€55,097
down €55,097 (-32.4%), from €170,310 to €115,212
- Taxes -€13,382
down €13,382 (-49.0%), from €27,295 to €13,913
- Financial charges -€5,468
down €5,468 (-8.9%), from €61,266 to €55,798
- Other operating charges -€4,681
down €4,681 (-26.7%), from €17,507 to €12,826
- Financial income +€2,745
up €2,745 (+8.3%), from €32,899 to €35,645
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 | €2,397,946 | €2,378,865 | -€19,082 | -0.8% |
| Fixed assets | 21/28 | €906,249 | €950,034 | +€43,785 | +4.8% |
| Tangible fixed assets | 22/27 | €906,249 | €950,034 | +€43,785 | +4.8% |
| Land and buildings | 22 | €903,038 | €880,111 | -€22,928 | -2.5% |
| Furniture and vehicles | 24 | €3,211 | €1,124 | -€2,087 | -65.0% |
| Assets under construction and advance payments | 27 | - | €68,800 | +€68,800 | |
| Current assets | 29/58 | €1,491,697 | €1,428,830 | -€62,867 | -4.2% |
| Amounts receivable within one year | 40/41 | €12,575 | €29,355 | +€16,781 | +133.4% |
| Other amounts receivable | 41 | €12,575 | €29,355 | +€16,781 | +133.4% |
| Current investments | 50/53 | €1,200,000 | €1,348,137 | +€148,137 | +12.3% |
| Cash at bank and in hand | 54/58 | €279,123 | €51,338 | -€227,785 | -81.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,397,946 | €2,378,865 | -€19,082 | -0.8% |
| Equity | 10/15 | €1,436,927 | €1,466,033 | +€29,106 | +2.0% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €436,927 | €466,033 | +€29,106 | +6.7% |
| Non-distributable reserves | 130/1 | €100,000 | €100,000 | = | 0.0% |
| Legal reserve | 130 | €100,000 | €100,000 | = | 0.0% |
| Distributable reserves | 133 | €336,927 | €366,033 | +€29,106 | +8.6% |
| Amounts payable | 17/49 | €961,019 | €912,832 | -€48,188 | -5.0% |
| Amounts payable after more than one year | 17 | €48,159 | €0 | -€48,159 | -100.0% |
| Financial debts | 170/4 | €48,159 | €0 | -€48,159 | -100.0% |
| Amounts payable within one year | 42/48 | €880,899 | €912,832 | +€31,932 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €55,830 | €48,159 | -€7,671 | -13.7% |
| Taxes, remuneration and social security | 45 | €16,856 | €15,840 | -€1,016 | -6.0% |
| Taxes | 450/3 | €16,856 | €15,840 | -€1,016 | -6.0% |
| Other amounts payable | 47/48 | €808,213 | €848,833 | +€40,620 | +5.0% |
| Accrued charges and deferred income | 492/3 | €31,961 | €0 | -€31,961 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,470 | €39,215 | -€256 | -0.6% |
| Other operating charges | 640/8 | €17,507 | €12,826 | -€4,681 | -26.7% |
| Gross operating margin | 9900 | €170,310 | €115,212 | -€55,097 | -32.4% |
| Operating profit (loss) | 9901 | €113,332 | €63,172 | -€50,160 | -44.3% |
| Financial income | 75/76B | €32,899 | €35,645 | +€2,745 | +8.3% |
| Recurring financial income | 75 | €32,899 | €35,645 | +€2,745 | +8.3% |
| Financial charges | 65/66B | €61,266 | €55,798 | -€5,468 | -8.9% |
| Recurring financial charges | 65 | €61,266 | €55,798 | -€5,468 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €84,966 | €43,019 | -€41,947 | -49.4% |
| Income taxes | 67/77 | €27,295 | €13,913 | -€13,382 | -49.0% |
| Profit (loss) for the period | 9904 | €57,670 | €29,106 | -€28,565 | -49.5% |
| Profit (loss) for the period to be appropriated | 9905 | €57,670 | €29,106 | -€28,565 | -49.5% |
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 7 October 2026 via checked.be.