HUPACO: 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.
HUPACO
Largest movements
- Current investments +€159,029
up €159,029 (+36.0%), from €441,475 to €600,503
- Cash +€33,998
up €33,998 (+7.2%), from €472,058 to €506,056
mainly Net result for the year (+€234,288) and Tax, wage and social debts (+€28,440)
- Receivables within one year -€17,341
down €17,341 (-90.4%), from €19,184 to €1,843
of which Trade receivables: -€17,341
- Reserves +€134,288
up €134,288 (+11.8%), from €1.1m to €1.3m
- Tax, wage and social debts +€28,440
up €28,440 (+181%), from €15,704 to €44,144
- Financial income -€66,105
down €66,105 (-50.2%), from €131,584 to €65,479
- Gross operating margin +€25,817
up €25,817 (+9.4%), from €275,868 to €301,685
- Taxes -€13,054
down €13,054 (-11.2%), from €116,435 to €103,380
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 | €1,394,009 | €1,554,600 | +€160,591 | +11.5% |
| Fixed assets | 21/28 | €454,101 | €443,561 | -€10,540 | -2.3% |
| Tangible fixed assets | 22/27 | €454,101 | €443,561 | -€10,540 | -2.3% |
| Land and buildings | 22 | €454,101 | €437,355 | -€16,747 | -3.7% |
| Furniture and vehicles | 24 | - | €6,207 | +€6,207 | |
| Current assets | 29/58 | €939,908 | €1,111,039 | +€171,130 | +18.2% |
| Amounts receivable within one year | 40/41 | €19,184 | €1,843 | -€17,341 | -90.4% |
| Trade receivables | 40 | €17,341 | - | -€17,341 | |
| Other amounts receivable | 41 | €1,843 | €1,843 | = | 0.0% |
| Current investments | 50/53 | €441,475 | €600,503 | +€159,029 | +36.0% |
| Cash at bank and in hand | 54/58 | €472,058 | €506,056 | +€33,998 | +7.2% |
| Deferred charges and accrued income | 490/1 | €7,191 | €2,636 | -€4,555 | -63.3% |
| Total equity and liabilities | 10/49 | €1,394,009 | €1,554,600 | +€160,591 | +11.5% |
| Equity | 10/15 | €1,275,324 | €1,409,613 | +€134,288 | +10.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,139,930 | €1,274,218 | +€134,288 | +11.8% |
| Distributable reserves | 133 | €1,139,930 | €1,274,218 | +€134,288 | +11.8% |
| Profit (loss) carried forward | 14 | €129,194 | €129,194 | = | 0.0% |
| Amounts payable | 17/49 | €118,685 | €144,987 | +€26,303 | +22.2% |
| Amounts payable within one year | 42/48 | €118,685 | €144,987 | +€26,303 | +22.2% |
| Trade debts | 44 | €2,696 | €522 | -€2,174 | -80.6% |
| Suppliers | 440/4 | €2,696 | €522 | -€2,174 | -80.6% |
| Taxes, remuneration and social security | 45 | €15,704 | €44,144 | +€28,440 | +181% |
| Taxes | 450/3 | €15,704 | €44,144 | +€28,440 | +181% |
| Other amounts payable | 47/48 | €100,285 | €100,322 | +€37 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,922 | €18,748 | +€1,826 | +10.8% |
| Other operating charges | 640/8 | €10,149 | €9,222 | -€926 | -9.1% |
| Gross operating margin | 9900 | €275,868 | €301,685 | +€25,817 | +9.4% |
| Operating profit (loss) | 9901 | €248,798 | €273,714 | +€24,917 | +10.0% |
| Financial income | 75/76B | €131,584 | €65,479 | -€66,105 | -50.2% |
| Recurring financial income | 75 | €131,584 | €65,479 | -€66,105 | -50.2% |
| Financial charges | 65/66B | €306 | €1,525 | +€1,219 | +398% |
| Recurring financial charges | 65 | €306 | €1,525 | +€1,219 | +398% |
| Profit (loss) for the period before taxes | 9903 | €380,075 | €337,668 | -€42,407 | -11.2% |
| Income taxes | 67/77 | €116,435 | €103,380 | -€13,054 | -11.2% |
| Profit (loss) for the period | 9904 | €263,641 | €234,288 | -€29,352 | -11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €263,641 | €234,288 | -€29,352 | -11.1% |
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 26 October 2026 via checked.be.