K.H.P.A.: 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.
K.H.P.A.
Largest movements
- Stocks and contracts +€212,438
new in 2024: €212,438
- Receivables within one year +€46,073
up €46,073 (+21.1%), from €217,860 to €263,933
of which Trade receivables: +€52,995
- Tangible fixed assets -€25,806
down €25,806 (-3.7%), from €705,974 to €680,167
of which Land and buildings: -€50,133
- Current investments -€18,229
down €18,229 (-14.6%), from €125,000 to €106,771
- Short-term financial debts +€491,865
up €491,865 (+17,050%), from €2,885 to €494,750
of which Credit institutions: +€267,115
- Debts after one year -€366,775
down €366,775 (-75.9%), from €482,987 to €116,212
- Trade debts +€48,279
up €48,279 (+127%), from €37,900 to €86,179
- Other debts +€30,064
up €30,064 (+3,546%), from €848 to €30,912
- Depreciation -€22,626
down €22,626 (-43.6%), from €51,925 to €29,298
- Other operating charges +€6,171
up €6,171 (+47.3%), from €13,061 to €19,232
- Gross operating margin -€4,114
down €4,114 (-4.9%), from €83,656 to €79,542
- Financial charges +€2,436
up €2,436 (+15.5%), from €15,745 to €18,181
- Financial income -€1,308
down €1,308 (-99.7%), from €1,312 to €4
From the 2022 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 | 2022 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,065,504 | €1,277,045 | +€211,540 | +19.9% |
| Fixed assets | 21/28 | €706,224 | €680,417 | -€25,806 | -3.7% |
| Tangible fixed assets | 22/27 | €705,974 | €680,167 | -€25,806 | -3.7% |
| Land and buildings | 22 | €639,528 | €589,395 | -€50,133 | -7.8% |
| Plant, machinery and equipment | 23 | €10,620 | €54,585 | +€43,965 | +414% |
| Furniture and vehicles | 24 | €55,826 | €36,187 | -€19,639 | -35.2% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €359,281 | €596,627 | +€237,347 | +66.1% |
| Stocks and contracts in progress | 3 | - | €212,438 | +€212,438 | |
| Stocks | 30/36 | - | €212,438 | +€212,438 | |
| Amounts receivable within one year | 40/41 | €217,860 | €263,933 | +€46,073 | +21.1% |
| Trade receivables | 40 | €187,408 | €240,404 | +€52,995 | +28.3% |
| Other amounts receivable | 41 | €30,452 | €23,529 | -€6,923 | -22.7% |
| Current investments | 50/53 | €125,000 | €106,771 | -€18,229 | -14.6% |
| Cash at bank and in hand | 54/58 | €8,189 | €7,754 | -€435 | -5.3% |
| Deferred charges and accrued income | 490/1 | €8,231 | €5,731 | -€2,500 | -30.4% |
| Total equity and liabilities | 10/49 | €1,065,504 | €1,277,045 | +€211,540 | +19.9% |
| Equity | 10/15 | €313,995 | €324,281 | +€10,286 | +3.3% |
| Contributions | 10/11 | €75,600 | €75,600 | = | 0.0% |
| Reserves | 13 | €216,465 | €226,752 | +€10,286 | +4.8% |
| Non-distributable reserves | 130/1 | €6,823 | - | -€6,823 | |
| Reserves not available under the articles | 1311 | €6,823 | - | -€6,823 | |
| Tax-exempt reserves | 132 | €36,417 | €36,417 | = | 0.0% |
| Distributable reserves | 133 | €173,226 | €190,334 | +€17,109 | +9.9% |
| Profit (loss) carried forward | 14 | €21,930 | €21,930 | = | 0.0% |
| Provisions and deferred taxes | 16 | €102,861 | €102,861 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €90,554 | €90,554 | = | 0.0% |
| Pensions and similar obligations | 160 | €90,554 | €90,554 | = | 0.0% |
| Deferred taxes | 168 | €12,308 | €12,308 | = | 0.0% |
| Amounts payable | 17/49 | €648,648 | €849,902 | +€201,254 | +31.0% |
| Amounts payable after more than one year | 17 | €482,987 | €116,212 | -€366,775 | -75.9% |
| Financial debts | 170/4 | €482,987 | €116,212 | -€366,775 | -75.9% |
| Amounts payable within one year | 42/48 | €165,661 | €731,196 | +€565,535 | +341% |
| Current portion of amounts payable after more than one year | 42 | €58,112 | €58,221 | +€110 | +0.2% |
| Financial debts | 43 | €2,885 | €494,750 | +€491,865 | +17,050% |
| Credit institutions | 430/8 | €2,885 | €270,000 | +€267,115 | +9,259% |
| Other loans | 439 | - | €224,750 | +€224,750 | |
| Trade debts | 44 | €37,900 | €86,179 | +€48,279 | +127% |
| Suppliers | 440/4 | €37,900 | €86,179 | +€48,279 | +127% |
| Taxes, remuneration and social security | 45 | €65,916 | €61,134 | -€4,782 | -7.3% |
| Taxes | 450/3 | €20,243 | €22,960 | +€2,718 | +13.4% |
| Remuneration and social security | 454/9 | €45,674 | €38,174 | -€7,500 | -16.4% |
| Other amounts payable | 47/48 | €848 | €30,912 | +€30,064 | +3,546% |
| Accrued charges and deferred income | 492/3 | - | €2,494 | +€2,494 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,925 | €29,298 | -€22,626 | -43.6% |
| Other operating charges | 640/8 | €13,061 | €19,232 | +€6,171 | +47.3% |
| Gross operating margin | 9900 | €83,656 | €79,542 | -€4,114 | -4.9% |
| Operating profit (loss) | 9901 | €18,671 | €31,012 | +€12,341 | +66.1% |
| Financial income | 75/76B | €1,312 | €4 | -€1,308 | -99.7% |
| Recurring financial income | 75 | €1,312 | €4 | -€1,308 | -99.7% |
| Financial charges | 65/66B | €15,745 | €18,181 | +€2,436 | +15.5% |
| Recurring financial charges | 65 | €15,745 | €18,181 | +€2,436 | +15.5% |
| Profit (loss) for the period before taxes | 9903 | €4,238 | €12,834 | +€8,597 | +203% |
| Transfer from deferred taxes | 780 | €506 | - | -€506 | |
| Income taxes | 67/77 | €3,337 | €4,034 | +€697 | +20.9% |
| Profit (loss) for the period | 9904 | €1,406 | €8,800 | +€7,394 | +526% |
| Transfer from tax-exempt reserves | 789 | €2,023 | - | -€2,023 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,429 | €8,800 | +€5,371 | +157% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.