HALV: 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.
HALV
Largest movements
- Cash +€38,777
up €38,777 (+56.9%), from €68,199 to €106,976
mainly Net result for the year (+€42,100) and Tax, wage and social debts (+€817)
- Receivables within one year +€1,214
new in 2025: €1,214
- Deferred charges and accrued income +€1,172
up €1,172 (+45.1%), from €2,595 to €3,767
- Reserves +€40,000
up €40,000 (+80.0%), from €50,000 to €90,000
- Profit (loss) carried forward +€1,241
up €1,241 (+45.0%), from €2,755 to €3,996
- Financial charges +€22,203
up €22,203 (+50994.5%), from €44 to €22,247
- Gross operating margin +€20,025
up €20,025 (+35.1%), from €57,031 to €77,057
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.
Cash bridge derived
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 | €71,649 | €112,220 | +€40,571 | +56.6% |
| Fixed assets | 21/28 | €855 | €263 | -€592 | -69.3% |
| Tangible fixed assets | 22/27 | €855 | €263 | -€592 | -69.3% |
| Furniture and vehicles | 24 | €855 | €263 | -€592 | -69.3% |
| Current assets | 29/58 | €70,794 | €111,957 | +€41,163 | +58.1% |
| Amounts receivable within one year | 40/41 | - | €1,214 | +€1,214 | |
| Other amounts receivable | 41 | - | €1,214 | +€1,214 | |
| Cash at bank and in hand | 54/58 | €68,199 | €106,976 | +€38,777 | +56.9% |
| Deferred charges and accrued income | 490/1 | €2,595 | €3,767 | +€1,172 | +45.1% |
| Total equity and liabilities | 10/49 | €71,649 | €112,220 | +€40,571 | +56.6% |
| Equity | 10/15 | €54,755 | €95,996 | +€41,241 | +75.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €50,000 | €90,000 | +€40,000 | +80.0% |
| Distributable reserves | 133 | €50,000 | €90,000 | +€40,000 | +80.0% |
| Profit (loss) carried forward | 14 | €2,755 | €3,996 | +€1,241 | +45.0% |
| Amounts payable | 17/49 | €16,894 | €16,225 | -€670 | -4.0% |
| Amounts payable within one year | 42/48 | €16,894 | €16,225 | -€670 | -4.0% |
| Trade debts | 44 | €3,719 | €3,206 | -€513 | -13.8% |
| Suppliers | 440/4 | €3,719 | €3,206 | -€513 | -13.8% |
| Taxes, remuneration and social security | 45 | €12,202 | €13,019 | +€817 | +6.7% |
| Taxes | 450/3 | €12,202 | €13,019 | +€817 | +6.7% |
| Other amounts payable | 47/48 | €973 | - | -€973 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €592 | €592 | -€0 | 0.0% |
| Other operating charges | 640/8 | €310 | €300 | -€11 | -3.4% |
| Gross operating margin | 9900 | €57,031 | €77,057 | +€20,025 | +35.1% |
| Operating profit (loss) | 9901 | €56,129 | €76,165 | +€20,036 | +35.7% |
| Financial charges | 65/66B | €44 | €22,247 | +€22,203 | +50994.5% |
| Recurring financial charges | 65 | €44 | €22,247 | +€22,203 | +50994.5% |
| Profit (loss) for the period before taxes | 9903 | €56,086 | €53,919 | -€2,167 | -3.9% |
| Income taxes | 67/77 | €12,202 | €11,819 | -€383 | -3.1% |
| Profit (loss) for the period | 9904 | €43,884 | €42,100 | -€1,784 | -4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €43,884 | €42,100 | -€1,784 | -4.1% |
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 10 October 2026 via checked.be.