AH²VRD: 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.
AH²VRD
Largest movements
- Cash +€7,903
up €7,903 (+17.9%), from €44,040 to €51,943
mainly Net result for the year (+€19,302) and Depreciation (+€7,820)
- Intangible fixed assets -€7,500
down €7,500 (-13.8%), from €54,349 to €46,849
- Receivables within one year -€3,482
down €3,482 (-36.2%), from €9,628 to €6,147
- Reserves +€57,382
new in 2025: €57,382
- Profit (loss) carried forward -€38,080
no longer reported in 2025 (was €38,080)
- Debts after one year -€10,437
down €10,437 (-70.2%), from €14,871 to €4,434
- Other debts -€10,303
down €10,303 (-48.2%), from €21,364 to €11,062
- Tax, wage and social debts -€2,840
down €2,840 (-14.7%), from €19,380 to €16,540
of which Taxes: -€2,840
- Depreciation -€835
down €835 (-9.7%), from €8,655 to €7,820
- Gross operating margin +€693
up €693 (+2.0%), from €35,066 to €35,760
- Taxes +€525
up €525 (+9.0%), from €5,850 to €6,375
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 | €108,987 | €105,145 | -€3,842 | -3.5% |
| Fixed assets | 21/28 | €54,669 | €46,849 | -€7,820 | -14.3% |
| Intangible fixed assets | 21 | €54,349 | €46,849 | -€7,500 | -13.8% |
| Tangible fixed assets | 22/27 | €320 | - | -€320 | |
| Furniture and vehicles | 24 | €320 | - | -€320 | |
| Current assets | 29/58 | €54,318 | €58,296 | +€3,978 | +7.3% |
| Amounts receivable within one year | 40/41 | €9,628 | €6,147 | -€3,482 | -36.2% |
| Trade receivables | 40 | €9,628 | €6,147 | -€3,482 | -36.2% |
| Cash at bank and in hand | 54/58 | €44,040 | €51,943 | +€7,903 | +17.9% |
| Deferred charges and accrued income | 490/1 | €650 | €207 | -€443 | -68.1% |
| Total equity and liabilities | 10/49 | €108,987 | €105,145 | -€3,842 | -3.5% |
| Equity | 10/15 | €43,080 | €62,382 | +€19,302 | +44.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €57,382 | +€57,382 | |
| Distributable reserves | 133 | - | €57,382 | +€57,382 | |
| Profit (loss) carried forward | 14 | €38,080 | - | -€38,080 | |
| Amounts payable | 17/49 | €65,907 | €42,763 | -€23,144 | -35.1% |
| Amounts payable after more than one year | 17 | €14,871 | €4,434 | -€10,437 | -70.2% |
| Financial debts | 170/4 | €14,871 | €4,434 | -€10,437 | -70.2% |
| Amounts payable within one year | 42/48 | €51,036 | €38,329 | -€12,707 | -24.9% |
| Current portion of amounts payable after more than one year | 42 | €10,154 | €10,437 | +€283 | +2.8% |
| Trade debts | 44 | €139 | €291 | +€152 | +110% |
| Suppliers | 440/4 | €139 | €291 | +€152 | +110% |
| Taxes, remuneration and social security | 45 | €19,380 | €16,540 | -€2,840 | -14.7% |
| Taxes | 450/3 | €17,880 | €15,040 | -€2,840 | -15.9% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €21,364 | €11,062 | -€10,303 | -48.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,655 | €7,820 | -€835 | -9.7% |
| Other operating charges | 640/8 | €607 | €463 | -€144 | -23.7% |
| Gross operating margin | 9900 | €35,066 | €35,760 | +€693 | +2.0% |
| Operating profit (loss) | 9901 | €25,804 | €27,477 | +€1,673 | +6.5% |
| Financial income | 75/76B | €1 | €1 | -€1 | -46.3% |
| Recurring financial income | 75 | €1 | €1 | -€1 | -46.3% |
| Financial charges | 65/66B | €1,991 | €1,801 | -€190 | -9.5% |
| Recurring financial charges | 65 | €1,991 | €1,801 | -€190 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €23,815 | €25,677 | +€1,862 | +7.8% |
| Income taxes | 67/77 | €5,850 | €6,375 | +€525 | +9.0% |
| Profit (loss) for the period | 9904 | €17,965 | €19,302 | +€1,337 | +7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,965 | €19,302 | +€1,337 | +7.4% |
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 30 October 2026 via checked.be.