H.V.A. IMMO: 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.
H.V.A. IMMO
Largest movements
- Receivables within one year +€1,103
up €1,103 (+8.7%), from €12,614 to €13,717
- Cash +€690
up €690 (+8.5%), from €8,100 to €8,791
mainly Net result for the year (+€6,397) and Trade debts (+€15)
- Reserves +€30,004
up €30,004 (+172%), from €17,407 to €47,411
of which Distributable reserves: +€30,004
- Profit (loss) carried forward -€23,607
down €23,607 (-100%), from €23,607 to €0
- Other debts -€4,500
down €4,500 (-100%), from €4,500 to €0
- Turnover -€36,000
no longer reported in 2025 (was €36,000)
- Gross operating margin +€24,160
new in 2025: €24,160
- Services and other goods -€13,542
no longer reported in 2025 (was €13,542)
- Depreciation -€1,001
down €1,001 (-100%), from €1,001 to €0
- Taxes +€567
up €567 (+36.3%), from €1,565 to €2,132
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 | €64,232 | €66,026 | +€1,793 | +2.8% |
| Fixed assets | 21/28 | €43,518 | €43,518 | = | 0.0% |
| Tangible fixed assets | 22/27 | €43,518 | €43,518 | = | 0.0% |
| Land and buildings | 22 | €43,518 | €43,518 | = | 0.0% |
| Current assets | 29/58 | €20,715 | €22,508 | +€1,793 | +8.7% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €12,614 | €13,717 | +€1,103 | +8.7% |
| Other amounts receivable | 41 | €12,614 | €13,717 | +€1,103 | +8.7% |
| Cash at bank and in hand | 54/58 | €8,100 | €8,791 | +€690 | +8.5% |
| Total equity and liabilities | 10/49 | €64,232 | €66,026 | +€1,793 | +2.8% |
| Equity | 10/15 | €59,614 | €66,011 | +€6,397 | +10.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €17,407 | €47,411 | +€30,004 | +172% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €15,547 | €45,551 | +€30,004 | +193% |
| Profit (loss) carried forward | 14 | €23,607 | €0 | -€23,607 | -100% |
| Amounts payable | 17/49 | €4,618 | €15 | -€4,604 | -99.7% |
| Amounts payable within one year | 42/48 | €4,618 | €15 | -€4,604 | -99.7% |
| Trade debts | 44 | €0 | €15 | +€15 | |
| Suppliers | 440/4 | €0 | €15 | +€15 | |
| Taxes, remuneration and social security | 45 | €118 | €0 | -€118 | -100% |
| Taxes | 450/3 | €118 | €0 | -€118 | -100% |
| Other amounts payable | 47/48 | €4,500 | €0 | -€4,500 | -100% |
| Operating income | 70/76A | €36,000 | - | -€36,000 | |
| Turnover | 70 | €36,000 | - | -€36,000 | |
| Operating charges | 60/66A | €29,710 | - | -€29,710 | |
| Services and other goods | 61 | €13,542 | - | -€13,542 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,001 | €0 | -€1,001 | -100% |
| Other operating charges | 640/8 | €15,167 | €15,601 | +€434 | +2.9% |
| Gross operating margin | 9900 | - | €24,160 | +€24,160 | |
| Operating profit (loss) | 9901 | €6,290 | €8,559 | +€2,270 | +36.1% |
| Financial charges | 65/66B | €30 | €30 | = | 0.0% |
| Recurring financial charges | 65 | €30 | €30 | = | 0.0% |
| Other financial charges | 652/9 | €30 | - | -€30 | |
| Profit (loss) for the period before taxes | 9903 | €6,260 | €8,529 | +€2,270 | +36.3% |
| Income taxes | 67/77 | €1,565 | €2,132 | +€567 | +36.3% |
| Taxes | 670/3 | €1,565 | - | -€1,565 | |
| Profit (loss) for the period | 9904 | €4,695 | €6,397 | +€1,702 | +36.3% |
| Profit (loss) for the period to be appropriated | 9905 | €4,695 | €6,397 | +€1,702 | +36.3% |
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 18 October 2026 via checked.be.