LA HULPE: 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.
LA HULPE
Largest movements
- Financial fixed assets -€971,619
down €971,619 (-25.9%), from €3.7m to €2.8m
- Tangible fixed assets -€157,183
down €157,183 (-21.3%), from €736,607 to €579,424
of which Land and buildings: -€140,691
- Other debts -€908,732
down €908,732 (-66.9%), from €1.4m to €448,678
- Debts after one year -€136,755
down €136,755 (-3.7%), from €3.7m to €3.5m
of which Financial debts: -€136,755
- Profit (loss) carried forward -€131,885
down €131,885 (-10.3%), from -€1.3m to -€1.4m
- Financial charges -€65,058
down €65,058 (-68.4%), from €95,166 to €30,108
- Gross operating margin +€19,242
up €19,242 (+21.4%), from €89,965 to €109,207
- Other operating charges +€14,066
up €14,066 (+44.4%), from €31,649 to €45,714
- Financial income -€6,248
down €6,248 (-97.2%), from €6,427 to €180
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 | €4,529,539 | €3,408,819 | -€1.1m | -24.7% |
| Fixed assets | 21/28 | €4,485,375 | €3,356,573 | -€1.1m | -25.2% |
| Tangible fixed assets | 22/27 | €736,607 | €579,424 | -€157,183 | -21.3% |
| Land and buildings | 22 | €697,246 | €556,555 | -€140,691 | -20.2% |
| Furniture and vehicles | 24 | €39,361 | €22,869 | -€16,492 | -41.9% |
| Financial fixed assets | 28 | €3,748,768 | €2,777,149 | -€971,619 | -25.9% |
| Current assets | 29/58 | €44,164 | €52,246 | +€8,082 | +18.3% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €41,573 | €50,208 | +€8,635 | +20.8% |
| Trade receivables | 40 | €41,573 | €46,616 | +€5,042 | +12.1% |
| Other amounts receivable | 41 | €0 | €3,592 | +€3,592 | |
| Cash at bank and in hand | 54/58 | €734 | €0 | -€734 | -100% |
| Deferred charges and accrued income | 490/1 | €1,857 | €2,038 | +€181 | +9.8% |
| Total equity and liabilities | 10/49 | €4,529,539 | €3,408,819 | -€1.1m | -24.7% |
| Equity | 10/15 | -€620,368 | -€752,253 | -€131,885 | -21.3% |
| Contributions | 10/11 | €660,000 | €660,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,280,368 | -€1,412,253 | -€131,885 | -10.3% |
| Amounts payable | 17/49 | €5,149,906 | €4,161,072 | -€988,834 | -19.2% |
| Amounts payable after more than one year | 17 | €3,658,920 | €3,522,166 | -€136,755 | -3.7% |
| Financial debts | 170/4 | €3,626,933 | €3,490,178 | -€136,755 | -3.8% |
| Other amounts payable | 178/9 | €31,987 | €31,987 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,488,095 | €613,924 | -€874,172 | -58.7% |
| Current portion of amounts payable after more than one year | 42 | €123,411 | €129,123 | +€5,712 | +4.6% |
| Financial debts | 43 | - | €3,266 | +€3,266 | |
| Credit institutions | 430/8 | - | €3,266 | +€3,266 | |
| Trade debts | 44 | €3,516 | €17,305 | +€13,789 | +392% |
| Suppliers | 440/4 | €3,516 | €17,305 | +€13,789 | +392% |
| Taxes, remuneration and social security | 45 | €3,759 | €15,552 | +€11,793 | +314% |
| Taxes | 450/3 | €3,759 | €15,552 | +€11,793 | +314% |
| Other amounts payable | 47/48 | €1,357,409 | €448,678 | -€908,732 | -66.9% |
| Accrued charges and deferred income | 492/3 | €2,891 | €24,983 | +€22,092 | +764% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €164,363 | €163,832 | -€531 | -0.3% |
| Other operating charges | 640/8 | €31,649 | €45,714 | +€14,066 | +44.4% |
| Gross operating margin | 9900 | €89,965 | €109,207 | +€19,242 | +21.4% |
| Operating profit (loss) | 9901 | -€106,047 | -€100,340 | +€5,707 | +5.4% |
| Financial income | 75/76B | €6,427 | €180 | -€6,248 | -97.2% |
| Recurring financial income | 75 | €6,427 | €180 | -€6,248 | -97.2% |
| Financial charges | 65/66B | €95,166 | €30,108 | -€65,058 | -68.4% |
| Recurring financial charges | 65 | €95,166 | €30,108 | -€65,058 | -68.4% |
| Profit (loss) for the period before taxes | 9903 | -€194,786 | -€130,268 | +€64,518 | +33.1% |
| Income taxes | 67/77 | €661 | €1,617 | +€956 | +145% |
| Profit (loss) for the period | 9904 | -€195,447 | -€131,885 | +€63,562 | +32.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€195,447 | -€131,885 | +€63,562 | +32.5% |
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 20 October 2026 via checked.be.