HUPICO: 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.
HUPICO
Largest movements
- Receivables within one year -€374,841
down €374,841 (-40.6%), from €924,382 to €549,541
of which Trade receivables: -€246,189
- Tangible fixed assets -€87,161
down €87,161 (-25.3%), from €344,545 to €257,384
of which Plant, machinery and equipment: -€53,705
- Stocks and contracts +€37,687
up €37,687 (+18.6%), from €202,906 to €240,594
- Profit (loss) carried forward -€411,497
down €411,497, from €0 to -€411,497
- Advances received -€134,424
down €134,424 (-79.8%), from €168,460 to €34,036
- Short-term financial debts +€122,091
up €122,091 (+142%), from €85,988 to €208,079
- Trade debts +€74,211
up €74,211 (+16.2%), from €458,614 to €532,825
- Debts after one year -€51,458
down €51,458 (-18.8%), from €273,630 to €222,172
- Staff costs +€246,198
up €246,198 (+64.1%), from €383,897 to €630,095
- Gross operating margin +€72,727
up €72,727 (+22.3%), from €326,668 to €399,395
- Depreciation +€44,807
up €44,807 (+59.3%), from €75,535 to €120,342
- Financial charges +€27,475
up €27,475 (+124%), from €22,231 to €49,707
- Other operating charges +€18,366
up €18,366 (+495%), from €3,709 to €22,075
From the 2023 result to the 2024 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,521,424 | €1,083,907 | -€437,517 | -28.8% |
| Fixed assets | 21/28 | €349,967 | €261,452 | -€88,515 | -25.3% |
| Intangible fixed assets | 21 | €4,618 | €3,265 | -€1,354 | -29.3% |
| Tangible fixed assets | 22/27 | €344,545 | €257,384 | -€87,161 | -25.3% |
| Plant, machinery and equipment | 23 | €206,642 | €152,937 | -€53,705 | -26.0% |
| Furniture and vehicles | 24 | €46,742 | €24,357 | -€22,386 | -47.9% |
| Other tangible fixed assets | 26 | €91,161 | €80,091 | -€11,070 | -12.1% |
| Financial fixed assets | 28 | €803 | €803 | = | 0.0% |
| Current assets | 29/58 | €1,171,457 | €822,455 | -€349,002 | -29.8% |
| Stocks and contracts in progress | 3 | €202,906 | €240,594 | +€37,687 | +18.6% |
| Stocks | 30/36 | €202,906 | €240,594 | +€37,687 | +18.6% |
| Amounts receivable within one year | 40/41 | €924,382 | €549,541 | -€374,841 | -40.6% |
| Trade receivables | 40 | €578,311 | €332,122 | -€246,189 | -42.6% |
| Other amounts receivable | 41 | €346,071 | €217,419 | -€128,652 | -37.2% |
| Cash at bank and in hand | 54/58 | €1,995 | €259 | -€1,736 | -87.0% |
| Deferred charges and accrued income | 490/1 | €42,174 | €32,062 | -€10,113 | -24.0% |
| Total equity and liabilities | 10/49 | €1,521,424 | €1,083,907 | -€437,517 | -28.8% |
| Equity | 10/15 | €374,721 | -€36,776 | -€411,497 | |
| Contributions | 10/11 | €99,579 | €99,579 | = | 0.0% |
| Reserves | 13 | €275,142 | €275,142 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,958 | €0 | -€9,958 | -100% |
| Reserves not available under the articles | 1311 | €9,958 | €0 | -€9,958 | -100% |
| Tax-exempt reserves | 132 | €23,500 | €23,500 | = | 0.0% |
| Distributable reserves | 133 | €241,685 | €251,642 | +€9,958 | +4.1% |
| Profit (loss) carried forward | 14 | €0 | -€411,497 | -€411,497 | |
| Amounts payable | 17/49 | €1,146,703 | €1,120,683 | -€26,020 | -2.3% |
| Amounts payable after more than one year | 17 | €273,630 | €222,172 | -€51,458 | -18.8% |
| Financial debts | 170/4 | €273,630 | €222,172 | -€51,458 | -18.8% |
| Amounts payable within one year | 42/48 | €869,831 | €881,480 | +€11,649 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €44,725 | €45,600 | +€874 | +2.0% |
| Financial debts | 43 | €85,988 | €208,079 | +€122,091 | +142% |
| Credit institutions | 430/8 | €85,988 | €208,079 | +€122,091 | +142% |
| Trade debts | 44 | €458,614 | €532,825 | +€74,211 | +16.2% |
| Suppliers | 440/4 | €458,614 | €532,825 | +€74,211 | +16.2% |
| Advances received on contracts in progress | 46 | €168,460 | €34,036 | -€134,424 | -79.8% |
| Taxes, remuneration and social security | 45 | €112,043 | €60,939 | -€51,103 | -45.6% |
| Taxes | 450/3 | €44,665 | €19,796 | -€24,869 | -55.7% |
| Remuneration and social security | 454/9 | €67,378 | €41,144 | -€26,234 | -38.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €3,242 | €17,031 | +€13,789 | +425% |
| Non-recurring operating income | 76A | €0 | €20,026 | +€20,026 | |
| Remuneration, social security and pensions | 62 | €383,897 | €630,095 | +€246,198 | +64.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,535 | €120,342 | +€44,807 | +59.3% |
| Other operating charges | 640/8 | €3,709 | €22,075 | +€18,366 | +495% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €326,668 | €399,395 | +€72,727 | +22.3% |
| Operating profit (loss) | 9901 | -€136,472 | -€373,116 | -€236,644 | -173% |
| Financial income | 75/76B | €9,435 | €13,006 | +€3,572 | +37.9% |
| Recurring financial income | 75 | €9,435 | €13,006 | +€3,572 | +37.9% |
| Financial charges | 65/66B | €22,231 | €49,707 | +€27,475 | +124% |
| Recurring financial charges | 65 | €22,231 | €49,707 | +€27,475 | +124% |
| Profit (loss) for the period before taxes | 9903 | -€149,269 | -€409,816 | -€260,547 | -175% |
| Income taxes | 67/77 | €1,035 | €1,681 | +€646 | +62.4% |
| Profit (loss) for the period | 9904 | -€150,304 | -€411,497 | -€261,193 | -174% |
| Profit (loss) for the period to be appropriated | 9905 | -€150,304 | -€411,497 | -€261,193 | -174% |
Source: filed annual accounts (NBB), financial years ended 30 June 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.