HBVET: 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.
HBVET
Largest movements
- Tangible fixed assets -€11,132
down €11,132 (-68.8%), from €16,189 to €5,057
of which Furniture and vehicles: -€10,604
- Cash -€2,807
down €2,807 (-9.3%), from €30,115 to €27,308
mainly Contributions, distributions and other (-€15,000) and Current portion of long-term debt (-€5,920)
- Receivables within one year -€1,448
down €1,448 (-11.7%), from €12,400 to €10,952
of which Trade receivables: -€2,100
- Current portion of long-term debt -€5,920
down €5,920 (-66.3%), from €8,931 to €3,012
- Profit (loss) carried forward -€5,543
down €5,543 (-46.3%), from €11,963 to €6,420
- Debts after one year -€3,762
down €3,762 (-100%), from €3,762 to €0
- Trade debts +€2,963
up €2,963 (+206%), from €1,441 to €4,404
- Accrued charges and deferred income -€2,309
down €2,309 (-100%), from €2,309 to €0
- Gross operating margin -€2,252
down €2,252 (-7.1%), from €31,502 to €29,250
- Taxes +€692
up €692 (+9.9%), from €6,991 to €7,683
- Depreciation +€663
up €663 (+6.3%), from €10,469 to €11,132
- Financial income +€593
up €593, from €0 to €593
- Other operating charges -€438
down €438 (-27.8%), from €1,578 to €1,140
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 | €58,915 | €43,496 | -€15,419 | -26.2% |
| Fixed assets | 21/28 | €16,189 | €5,057 | -€11,132 | -68.8% |
| Tangible fixed assets | 22/27 | €16,189 | €5,057 | -€11,132 | -68.8% |
| Plant, machinery and equipment | 23 | €215 | €0 | -€215 | -100% |
| Furniture and vehicles | 24 | €13,775 | €3,171 | -€10,604 | -77.0% |
| Other tangible fixed assets | 26 | €2,199 | €1,886 | -€313 | -14.2% |
| Current assets | 29/58 | €42,727 | €38,439 | -€4,287 | -10.0% |
| Amounts receivable within one year | 40/41 | €12,400 | €10,952 | -€1,448 | -11.7% |
| Trade receivables | 40 | €12,400 | €10,300 | -€2,100 | -16.9% |
| Other amounts receivable | 41 | - | €652 | +€652 | |
| Cash at bank and in hand | 54/58 | €30,115 | €27,308 | -€2,807 | -9.3% |
| Deferred charges and accrued income | 490/1 | €212 | €179 | -€33 | -15.4% |
| Total equity and liabilities | 10/49 | €58,915 | €43,496 | -€15,419 | -26.2% |
| Equity | 10/15 | €17,963 | €12,420 | -€5,543 | -30.9% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,963 | €6,420 | -€5,543 | -46.3% |
| Amounts payable | 17/49 | €40,952 | €31,076 | -€9,876 | -24.1% |
| Amounts payable after more than one year | 17 | €3,762 | €0 | -€3,762 | -100% |
| Financial debts | 170/4 | €3,762 | €0 | -€3,762 | -100% |
| Amounts payable within one year | 42/48 | €34,881 | €31,076 | -€3,805 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | €8,931 | €3,012 | -€5,920 | -66.3% |
| Trade debts | 44 | €1,441 | €4,404 | +€2,963 | +206% |
| Suppliers | 440/4 | €1,441 | €4,404 | +€2,963 | +206% |
| Taxes, remuneration and social security | 45 | €9,244 | €7,715 | -€1,529 | -16.5% |
| Taxes | 450/3 | €7,244 | €5,715 | -€1,529 | -21.1% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €15,265 | €15,946 | +€681 | +4.5% |
| Accrued charges and deferred income | 492/3 | €2,309 | €0 | -€2,309 | -100% |
| Remuneration, social security and pensions | 62 | €80 | €119 | +€40 | +49.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,469 | €11,132 | +€663 | +6.3% |
| Other operating charges | 640/8 | €1,578 | €1,140 | -€438 | -27.8% |
| Gross operating margin | 9900 | €31,502 | €29,250 | -€2,252 | -7.1% |
| Operating profit (loss) | 9901 | €19,375 | €16,859 | -€2,516 | -13.0% |
| Financial income | 75/76B | €0 | €593 | +€593 | |
| Recurring financial income | 75 | €0 | €593 | +€593 | |
| Financial charges | 65/66B | €410 | €312 | -€98 | -23.8% |
| Recurring financial charges | 65 | €410 | €312 | -€98 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €18,965 | €17,139 | -€1,826 | -9.6% |
| Income taxes | 67/77 | €6,991 | €7,683 | +€692 | +9.9% |
| Profit (loss) for the period | 9904 | €11,974 | €9,457 | -€2,518 | -21.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,974 | €9,457 | -€2,518 | -21.0% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.