Hupave: 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.
Hupave
Largest movements
- Tangible fixed assets -€6,772
down €6,772 (-5.0%), from €135,566 to €128,794
- Cash -€5,006
down €5,006 (-12.4%), from €40,289 to €35,283
mainly Contributions, distributions and other (-€17,140) and Investment in fixed assets (net) (-€7,788)
- Reserves -€11,743
down €11,743 (-23.5%), from €49,946 to €38,203
of which Distributable reserves: -€11,743
- Gross operating margin +€3,598
up €3,598 (+18.2%), from €19,717 to €23,315
- Depreciation -€1,199
down €1,199 (-7.6%), from €15,759 to €14,560
- Taxes +€802
new in 2025: €802
- Financial income -€485
down €485 (-63.4%), from €764 to €279
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 | €175,885 | €164,077 | -€11,808 | -6.7% |
| Fixed assets | 21/28 | €135,566 | €128,794 | -€6,772 | -5.0% |
| Tangible fixed assets | 22/27 | €135,566 | €128,794 | -€6,772 | -5.0% |
| Land and buildings | 22 | €135,566 | €128,794 | -€6,772 | -5.0% |
| Current assets | 29/58 | €40,319 | €35,283 | -€5,036 | -12.5% |
| Amounts receivable within one year | 40/41 | €30 | - | -€30 | |
| Other amounts receivable | 41 | €30 | - | -€30 | |
| Cash at bank and in hand | 54/58 | €40,289 | €35,283 | -€5,006 | -12.4% |
| Total equity and liabilities | 10/49 | €175,885 | €164,077 | -€11,808 | -6.7% |
| Equity | 10/15 | €175,132 | €163,389 | -€11,743 | -6.7% |
| Contributions | 10/11 | €125,186 | €125,186 | = | 0.0% |
| Capital | 10 | €125,186 | €125,186 | = | 0.0% |
| Issued capital | 100 | €125,186 | €125,186 | = | 0.0% |
| Reserves | 13 | €49,946 | €38,203 | -€11,743 | -23.5% |
| Non-distributable reserves | 130/1 | €12,519 | €12,519 | = | 0.0% |
| Legal reserve | 130 | €12,519 | €12,519 | = | 0.0% |
| Distributable reserves | 133 | €37,427 | €25,684 | -€11,743 | -31.4% |
| Amounts payable | 17/49 | €754 | €688 | -€65 | -8.7% |
| Amounts payable within one year | 42/48 | €754 | €688 | -€65 | -8.7% |
| Current portion of amounts payable after more than one year | 42 | €754 | - | -€754 | |
| Taxes, remuneration and social security | 45 | - | €688 | +€688 | |
| Taxes | 450/3 | - | €688 | +€688 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,759 | €14,560 | -€1,199 | -7.6% |
| Other operating charges | 640/8 | €2,752 | €2,768 | +€17 | +0.6% |
| Gross operating margin | 9900 | €19,717 | €23,315 | +€3,598 | +18.2% |
| Operating profit (loss) | 9901 | €1,207 | €5,987 | +€4,780 | +396.1% |
| Financial income | 75/76B | €764 | €279 | -€485 | -63.4% |
| Recurring financial income | 75 | €764 | €279 | -€485 | -63.4% |
| Financial charges | 65/66B | €193 | €67 | -€126 | -65.5% |
| Recurring financial charges | 65 | €193 | €67 | -€126 | -65.5% |
| Profit (loss) for the period before taxes | 9903 | €1,778 | €6,200 | +€4,421 | +248.7% |
| Income taxes | 67/77 | - | €802 | +€802 | |
| Profit (loss) for the period | 9904 | €1,778 | €5,397 | +€3,619 | +203.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,778 | €5,397 | +€3,619 | +203.5% |
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 29 September 2026 via checked.be.