AHVV MANAGEMENT: 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.
AHVV MANAGEMENT
Largest movements
- Receivables within one year +€62,460
up €62,460 (+26.4%), from €236,318 to €298,778
of which Other amounts receivable: +€31,659
- Cash -€53,780
down €53,780 (-89.1%), from €60,375 to €6,595
mainly Contributions, distributions and other (-€147,000) and Receivables within one year (-€62,460)
- Current investments +€53,198
new in 2025: €53,198
- Other debts +€147,000
new in 2025: €147,000
- Reserves -€72,772
down €72,772 (-28.3%), from €257,003 to €184,231
- Tax, wage and social debts -€16,900
down €16,900 (-43.1%), from €39,202 to €22,302
- Trade debts +€7,475
up €7,475 (+141%), from €5,314 to €12,789
- Gross operating margin +€17,631
up €17,631 (+23.0%), from €76,556 to €94,187
- Financial charges +€5,078
up €5,078 (+456%), from €1,113 to €6,191
of which Financial charges: +€3,187
- Financial income +€4,561
up €4,561 (+48.2%), from €9,467 to €14,028
- Depreciation +€3,600
up €3,600 (+343%), from €1,049 to €4,649
- Other operating charges +€1,686
up €1,686 (+174%), from €969 to €2,655
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 | €304,019 | €368,822 | +€64,803 | +21.3% |
| Fixed assets | 21/28 | €6,023 | €9,104 | +€3,080 | +51.1% |
| Tangible fixed assets | 22/27 | €6,023 | €9,104 | +€3,080 | +51.1% |
| Land and buildings | 22 | €5,745 | €4,917 | -€829 | -14.4% |
| Furniture and vehicles | 24 | €278 | €4,187 | +€3,909 | +1,407% |
| Current assets | 29/58 | €297,996 | €359,718 | +€61,722 | +20.7% |
| Amounts receivable within one year | 40/41 | €236,318 | €298,778 | +€62,460 | +26.4% |
| Trade receivables | 40 | €45,258 | €76,059 | +€30,801 | +68.1% |
| Other amounts receivable | 41 | €191,060 | €222,719 | +€31,659 | +16.6% |
| Current investments | 50/53 | - | €53,198 | +€53,198 | |
| Cash at bank and in hand | 54/58 | €60,375 | €6,595 | -€53,780 | -89.1% |
| Deferred charges and accrued income | 490/1 | €1,303 | €1,147 | -€156 | -11.9% |
| Total equity and liabilities | 10/49 | €304,019 | €368,822 | +€64,803 | +21.3% |
| Equity | 10/15 | €259,503 | €186,731 | -€72,772 | -28.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €257,003 | €184,231 | -€72,772 | -28.3% |
| Distributable reserves | 133 | €257,003 | €184,231 | -€72,772 | -28.3% |
| Amounts payable | 17/49 | €44,516 | €182,091 | +€137,575 | +309% |
| Amounts payable within one year | 42/48 | €44,516 | €182,091 | +€137,575 | +309% |
| Trade debts | 44 | €5,314 | €12,789 | +€7,475 | +141% |
| Suppliers | 440/4 | €5,314 | €12,789 | +€7,475 | +141% |
| Taxes, remuneration and social security | 45 | €39,202 | €22,302 | -€16,900 | -43.1% |
| Taxes | 450/3 | €39,202 | €22,302 | -€16,900 | -43.1% |
| Other amounts payable | 47/48 | - | €147,000 | +€147,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,049 | €4,649 | +€3,600 | +343% |
| Other operating charges | 640/8 | €969 | €2,655 | +€1,686 | +174% |
| Gross operating margin | 9900 | €76,556 | €94,187 | +€17,631 | +23.0% |
| Operating profit (loss) | 9901 | €74,538 | €86,883 | +€12,345 | +16.6% |
| Financial income | 75/76B | €9,467 | €14,028 | +€4,561 | +48.2% |
| Recurring financial income | 75 | €9,467 | €14,028 | +€4,561 | +48.2% |
| Financial charges | 65/66B | €1,113 | €6,191 | +€5,078 | +456% |
| Recurring financial charges | 65 | €1,113 | €4,299 | +€3,187 | +286% |
| Non-recurring financial charges | 66B | - | €1,891 | +€1,891 | |
| Profit (loss) for the period before taxes | 9903 | €82,892 | €94,721 | +€11,828 | +14.3% |
| Income taxes | 67/77 | €18,976 | €20,493 | +€1,517 | +8.0% |
| Profit (loss) for the period | 9904 | €63,917 | €74,228 | +€10,311 | +16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €63,917 | €74,228 | +€10,311 | +16.1% |
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 25 October 2026 via checked.be.