HUPPELDEPUP: 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.
HUPPELDEPUP
Largest movements
- Receivables within one year -€1.3m
down €1.3m (-55.0%), from €2.4m to €1.1m
of which Other amounts receivable: -€1.3m
- Cash -€973,010
down €973,010 (-90.3%), from €1.1m to €104,908
mainly Other debts (-€2.3m) and Net result for the year (-€92,854)
- Tangible fixed assets -€156,021
down €156,021 (-4.7%), from €3.3m to €3.2m
of which Land and buildings: -€127,155
- Other debts -€2.3m
no longer reported in 2025 (was €2.3m)
- Reserves -€92,854
down €92,854 (-2.9%), from €3.2m to €3.1m
of which Tax-exempt reserves: -€210,500
- Gross operating margin -€100,374
down €100,374 (-42.3%), from €237,330 to €136,956
- Financial income -€33,960
down €33,960 (-53.0%), from €64,117 to €30,157
of which Financial income: -€40,424
- Taxes -€32,535
down €32,535 (-67.1%), from €48,523 to €15,987
- Depreciation -€31,709
down €31,709 (-15.6%), from €202,935 to €171,226
- Financial charges -€24,541
down €24,541 (-40.0%), from €61,426 to €36,885
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 | €7,012,038 | €4,565,161 | -€2.4m | -34.9% |
| Fixed assets | 21/28 | €3,308,712 | €3,152,692 | -€156,021 | -4.7% |
| Tangible fixed assets | 22/27 | €3,308,712 | €3,152,692 | -€156,021 | -4.7% |
| Land and buildings | 22 | €3,267,622 | €3,140,467 | -€127,155 | -3.9% |
| Plant, machinery and equipment | 23 | €2,582 | €2,303 | -€279 | -10.8% |
| Furniture and vehicles | 24 | €30,008 | €1,422 | -€28,587 | -95.3% |
| Other tangible fixed assets | 26 | €8,500 | €8,500 | = | 0.0% |
| Current assets | 29/58 | €3,703,326 | €1,412,470 | -€2.3m | -61.9% |
| Stocks and contracts in progress | 3 | €203,630 | €203,630 | = | 0.0% |
| Stocks | 30/36 | €203,630 | €203,630 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,396,291 | €1,078,394 | -€1.3m | -55.0% |
| Trade receivables | 40 | €160,382 | €99,792 | -€60,589 | -37.8% |
| Other amounts receivable | 41 | €2,235,910 | €978,601 | -€1.3m | -56.2% |
| Cash at bank and in hand | 54/58 | €1,077,918 | €104,908 | -€973,010 | -90.3% |
| Deferred charges and accrued income | 490/1 | €25,486 | €25,538 | +€51 | +0.2% |
| Total equity and liabilities | 10/49 | €7,012,038 | €4,565,161 | -€2.4m | -34.9% |
| Equity | 10/15 | €3,436,147 | €3,343,293 | -€92,854 | -2.7% |
| Contributions | 10/11 | €247,894 | €247,894 | = | 0.0% |
| Capital | 10 | €247,894 | €247,894 | = | 0.0% |
| Issued capital | 100 | €247,894 | €247,894 | = | 0.0% |
| Reserves | 13 | €3,188,254 | €3,095,400 | -€92,854 | -2.9% |
| Non-distributable reserves | 130/1 | €24,789 | €24,789 | = | 0.0% |
| Legal reserve | 130 | €24,789 | €24,789 | = | 0.0% |
| Tax-exempt reserves | 132 | €357,850 | €147,350 | -€210,500 | -58.8% |
| Distributable reserves | 133 | €2,805,614 | €2,923,261 | +€117,646 | +4.2% |
| Amounts payable | 17/49 | €3,575,891 | €1,221,868 | -€2.4m | -65.8% |
| Amounts payable within one year | 42/48 | €3,575,891 | €1,221,868 | -€2.4m | -65.8% |
| Financial debts | 43 | €1,150,000 | €1,150,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,150,000 | €1,150,000 | = | 0.0% |
| Trade debts | 44 | €30,453 | €17,742 | -€12,711 | -41.7% |
| Suppliers | 440/4 | €30,453 | €17,742 | -€12,711 | -41.7% |
| Taxes, remuneration and social security | 45 | €84,472 | €54,126 | -€30,347 | -35.9% |
| Taxes | 450/3 | €84,472 | €54,126 | -€30,347 | -35.9% |
| Other amounts payable | 47/48 | €2,310,965 | - | -€2.3m | |
| Remuneration, social security and pensions | 62 | - | €21,578 | +€21,578 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €202,935 | €171,226 | -€31,709 | -15.6% |
| Other operating charges | 640/8 | €12,900 | €14,290 | +€1,390 | +10.8% |
| Gross operating margin | 9900 | €237,330 | €136,956 | -€100,374 | -42.3% |
| Operating profit (loss) | 9901 | €21,495 | -€70,138 | -€91,633 | |
| Financial income | 75/76B | €64,117 | €30,157 | -€33,960 | -53.0% |
| Recurring financial income | 75 | €61,747 | €21,323 | -€40,424 | -65.5% |
| Non-recurring financial income | 76B | €2,370 | €8,833 | +€6,464 | +273% |
| Financial charges | 65/66B | €61,426 | €36,885 | -€24,541 | -40.0% |
| Recurring financial charges | 65 | €61,426 | €36,885 | -€24,541 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | €24,185 | -€76,866 | -€101,052 | |
| Income taxes | 67/77 | €48,523 | €15,987 | -€32,535 | -67.1% |
| Profit (loss) for the period | 9904 | -€24,337 | -€92,854 | -€68,517 | -282% |
| Transfer from tax-exempt reserves | 789 | €294,700 | €210,500 | -€84,200 | -28.6% |
| Profit (loss) for the period to be appropriated | 9905 | €270,363 | €117,646 | -€152,717 | -56.5% |
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 29 October 2026 via checked.be.