HYPOCAMPUS: 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.
HYPOCAMPUS
Largest movements
- Tangible fixed assets +€260,358
up €260,358 (+12.5%), from €2.1m to €2.3m
of which Land and buildings: +€265,184
- Cash -€92,686
down €92,686 (-99.0%), from €93,646 to €961
mainly Net result for the year (-€331,499) and Investment in fixed assets (net) (-€308,897)
- Receivables within one year -€29,894
down €29,894 (-71.5%), from €41,816 to €11,922
of which Trade receivables: -€22,654
- Other debts +€456,492
up €456,492 (+13.7%), from €3.3m to €3.8m
- Profit (loss) carried forward -€331,499
down €331,499 (-40.9%), from -€811,032 to -€1.1m
- Depreciation +€26,071
up €26,071 (+116%), from €22,468 to €48,539
- Gross operating margin -€13,983
down €13,983 (-6.8%), from -€206,878 to -€220,861
- Staff costs -€12,880
down €12,880 (-22.7%), from €56,760 to €43,880
- Other operating charges +€3,912
up €3,912 (+29.1%), from €13,449 to €17,361
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 | €2,768,542 | €2,903,150 | +€134,608 | +4.9% |
| Fixed assets | 21/28 | €2,082,217 | €2,342,574 | +€260,358 | +12.5% |
| Intangible fixed assets | 21 | €2,506 | €2,506 | = | 0.0% |
| Tangible fixed assets | 22/27 | €2,079,711 | €2,340,069 | +€260,358 | +12.5% |
| Land and buildings | 22 | €2,051,923 | €2,317,107 | +€265,184 | +12.9% |
| Plant, machinery and equipment | 23 | €27,788 | €22,962 | -€4,826 | -17.4% |
| Current assets | 29/58 | €686,325 | €560,576 | -€125,749 | -18.3% |
| Stocks and contracts in progress | 3 | €545,000 | €545,000 | = | 0.0% |
| Stocks | 30/36 | €545,000 | €545,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €41,816 | €11,922 | -€29,894 | -71.5% |
| Trade receivables | 40 | €23,654 | €1,000 | -€22,654 | -95.8% |
| Other amounts receivable | 41 | €18,162 | €10,922 | -€7,240 | -39.9% |
| Cash at bank and in hand | 54/58 | €93,646 | €961 | -€92,686 | -99.0% |
| Deferred charges and accrued income | 490/1 | €5,863 | €2,693 | -€3,170 | -54.1% |
| Total equity and liabilities | 10/49 | €2,768,542 | €2,903,150 | +€134,608 | +4.9% |
| Equity | 10/15 | -€563,138 | -€894,637 | -€331,499 | -58.9% |
| 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% |
| Profit (loss) carried forward | 14 | -€811,032 | -€1,142,531 | -€331,499 | -40.9% |
| Amounts payable | 17/49 | €3,331,680 | €3,797,788 | +€466,108 | +14.0% |
| Amounts payable within one year | 42/48 | €3,331,680 | €3,797,788 | +€466,108 | +14.0% |
| Trade debts | 44 | €2,495 | €16,525 | +€14,030 | +562% |
| Suppliers | 440/4 | €2,495 | €16,525 | +€14,030 | +562% |
| Taxes, remuneration and social security | 45 | €4,414 | €0 | -€4,414 | -100% |
| Remuneration and social security | 454/9 | €4,414 | €0 | -€4,414 | -100% |
| Other amounts payable | 47/48 | €3,324,771 | €3,781,263 | +€456,492 | +13.7% |
| Remuneration, social security and pensions | 62 | €56,760 | €43,880 | -€12,880 | -22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,468 | €48,539 | +€26,071 | +116% |
| Other operating charges | 640/8 | €13,449 | €17,361 | +€3,912 | +29.1% |
| Gross operating margin | 9900 | -€206,878 | -€220,861 | -€13,983 | -6.8% |
| Operating profit (loss) | 9901 | -€299,554 | -€330,641 | -€31,086 | -10.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €329 | €859 | +€529 | +161% |
| Recurring financial charges | 65 | €329 | €859 | +€529 | +161% |
| Profit (loss) for the period before taxes | 9903 | -€299,884 | -€331,499 | -€31,616 | -10.5% |
| Profit (loss) for the period | 9904 | -€299,884 | -€331,499 | -€31,616 | -10.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€299,884 | -€331,499 | -€31,616 | -10.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.