HUPE: 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.
HUPE
Largest movements
- Receivables within one year +€666,735
up €666,735 (+445%), from €149,813 to €816,547
- Cash +€95,881
up €95,881 (+12.4%), from €770,897 to €866,778
mainly Net result for the year (+€1.3m) and Trade debts (+€151,454)
- Tangible fixed assets -€49,753
down €49,753 (-17.2%), from €289,690 to €239,937
of which Furniture and vehicles: -€103,701
- Reserves +€1.2m
up €1.2m (+579%), from €206,116 to €1.4m
of which Distributable reserves: +€1.2m
- Other debts -€777,000
no longer reported in 2025 (was €777,000)
- Trade debts +€151,454
new in 2025: €151,454
- Tax, wage and social debts +€124,315
up €124,315 (+64.8%), from €191,971 to €316,286
of which Taxes: +€119,970
- Accrued charges and deferred income +€51,475
new in 2025: €51,475
- Turnover -€3.9m
no longer reported in 2025 (was €3.9m)
- Gross operating margin +€767,224
up €767,224 (+31.2%), from €2.5m to €3.2m
- Taxes +€162,329
up €162,329 (+52.5%), from €309,156 to €471,485
- Staff costs +€124,221
up €124,221 (+10.1%), from €1.2m to €1.4m
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 | €1,229,608 | €1,956,988 | +€727,380 | +59.2% |
| Fixed assets | 21/28 | €291,190 | €241,437 | -€49,753 | -17.1% |
| Tangible fixed assets | 22/27 | €289,690 | €239,937 | -€49,753 | -17.2% |
| Plant, machinery and equipment | 23 | €7,011 | €60,960 | +€53,948 | +769% |
| Furniture and vehicles | 24 | €282,678 | €178,977 | -€103,701 | -36.7% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €938,418 | €1,715,551 | +€777,133 | +82.8% |
| Amounts receivable within one year | 40/41 | €149,813 | €816,547 | +€666,735 | +445% |
| Trade receivables | 40 | €149,813 | €816,547 | +€666,735 | +445% |
| Current investments | 50/53 | - | €8,400 | +€8,400 | |
| Cash at bank and in hand | 54/58 | €770,897 | €866,778 | +€95,881 | +12.4% |
| Deferred charges and accrued income | 490/1 | €17,709 | €23,826 | +€6,117 | +34.5% |
| Total equity and liabilities | 10/49 | €1,229,608 | €1,956,988 | +€727,380 | +59.2% |
| Equity | 10/15 | €213,352 | €1,417,392 | +€1.2m | +564% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200% |
| Reserves | 13 | €206,116 | €1,398,792 | +€1.2m | +579% |
| Tax-exempt reserves | 132 | €105,250 | €105,250 | = | 0.0% |
| Distributable reserves | 133 | €100,866 | €1,293,542 | +€1.2m | +1,182% |
| Profit (loss) carried forward | 14 | €1,035 | - | -€1,035 | |
| Amounts payable | 17/49 | €1,016,256 | €539,596 | -€476,660 | -46.9% |
| Amounts payable after more than one year | 17 | €28,250 | - | -€28,250 | |
| Financial debts | 170/4 | €28,250 | - | -€28,250 | |
| Amounts payable within one year | 42/48 | €988,006 | €488,121 | -€499,886 | -50.6% |
| Current portion of amounts payable after more than one year | 42 | €19,035 | - | -€19,035 | |
| Trade debts | 44 | - | €151,454 | +€151,454 | |
| Suppliers | 440/4 | - | €151,454 | +€151,454 | |
| Advances received on contracts in progress | 46 | - | €20,381 | +€20,381 | |
| Taxes, remuneration and social security | 45 | €191,971 | €316,286 | +€124,315 | +64.8% |
| Taxes | 450/3 | €57,219 | €177,189 | +€119,970 | +210% |
| Remuneration and social security | 454/9 | €134,752 | €139,098 | +€4,346 | +3.2% |
| Other amounts payable | 47/48 | €777,000 | - | -€777,000 | |
| Accrued charges and deferred income | 492/3 | - | €51,475 | +€51,475 | |
| Turnover | 70 | €3,885,175 | - | -€3.9m | |
| Remuneration, social security and pensions | 62 | €1,231,212 | €1,355,434 | +€124,221 | +10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130,579 | €119,845 | -€10,734 | -8.2% |
| Other operating charges | 640/8 | €7,768 | €9,519 | +€1,752 | +22.5% |
| Non-recurring operating charges | 66A | - | €2,814 | +€2,814 | |
| Gross operating margin | 9900 | €2,459,043 | €3,226,266 | +€767,224 | +31.2% |
| Operating profit (loss) | 9901 | €1,089,484 | €1,738,655 | +€649,171 | +59.6% |
| Financial income | 75/76B | €4,650 | €24,635 | +€19,985 | +430% |
| Recurring financial income | 75 | €4,650 | €6,343 | +€1,693 | +36.4% |
| Non-recurring financial income | 76B | - | €18,292 | +€18,292 | |
| Financial charges | 65/66B | €6,942 | €1,159 | -€5,783 | -83.3% |
| Recurring financial charges | 65 | €6,942 | €1,159 | -€5,783 | -83.3% |
| Profit (loss) for the period before taxes | 9903 | €1,087,191 | €1,762,131 | +€674,940 | +62.1% |
| Income taxes | 67/77 | €309,156 | €471,485 | +€162,329 | +52.5% |
| Profit (loss) for the period | 9904 | €778,035 | €1,290,646 | +€512,611 | +65.9% |
| Transfer from tax-exempt reserves | 789 | €261,223 | €99,006 | -€162,217 | -62.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,039,259 | €1,389,652 | +€350,394 | +33.7% |
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 15 October 2026 via checked.be.