HIXVAN: what changed
Two fiscal 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.
HIXVAN
Largest movements
- Stocks and contracts -€65,935
down €65,935 (-12.2%), from €539,620 to €473,685
of which Stocks: -€79,226
- Receivables within one year +€57,438
up €57,438 (+14.3%), from €402,652 to €460,090
of which Trade receivables: +€60,168
- Tangible fixed assets +€21,866
up €21,866 (+12.6%), from €173,533 to €195,399
of which Other tangible fixed assets: +€43,689
- Cash +€13,240
up €13,240 (+737.7%), from €1,795 to €15,035
mainly Debts after one year (+€126,670) and Stocks and contracts (+€65,935)
- Debts after one year +€126,670
up €126,670 (+49.3%), from €257,002 to €383,673
of which Financial debts: +€109,660
- Trade debts -€115,106
down €115,106 (-66.9%), from €171,964 to €56,858
- Current portion of long-term debt +€38,755
up €38,755 (+190.8%), from €20,311 to €59,066
- Short-term financial debts -€21,895
down €21,895 (-14.8%), from €148,160 to €126,265
- Advances received -€13,000
down €13,000 (-7.2%), from €180,000 to €167,000
- Gross operating margin +€18,687
up €18,687 (+8.6%), from €216,298 to €234,985
- Depreciation +€13,318
up €13,318 (+32.0%), from €41,566 to €54,884
- Financial income -€7,968
down €7,968 (-16.3%), from €48,809 to €40,840
- Financial charges +€6,194
up €6,194 (+41.5%), from €14,921 to €21,115
- Taxes -€2,833
down €2,833 (-42.0%), from €6,738 to €3,906
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 | €1,118,257 | €1,145,158 | +€26,901 | +2.4% |
| Fixed assets | 21/28 | €173,533 | €195,399 | +€21,866 | +12.6% |
| Tangible fixed assets | 22/27 | €173,533 | €195,399 | +€21,866 | +12.6% |
| Plant, machinery and equipment | 23 | €28,218 | €20,082 | -€8,136 | -28.8% |
| Furniture and vehicles | 24 | €82,570 | €68,883 | -€13,687 | -16.6% |
| Other tangible fixed assets | 26 | €62,745 | €106,434 | +€43,689 | +69.6% |
| Current assets | 29/58 | €944,723 | €949,758 | +€5,035 | +0.5% |
| Stocks and contracts in progress | 3 | €539,620 | €473,685 | -€65,935 | -12.2% |
| Stocks | 30/36 | €438,116 | €358,890 | -€79,226 | -18.1% |
| Contracts in progress | 37 | €101,504 | €114,795 | +€13,291 | +13.1% |
| Amounts receivable within one year | 40/41 | €402,652 | €460,090 | +€57,438 | +14.3% |
| Trade receivables | 40 | €397,121 | €457,288 | +€60,168 | +15.2% |
| Other amounts receivable | 41 | €5,531 | €2,802 | -€2,729 | -49.3% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,795 | €15,035 | +€13,240 | +737.7% |
| Deferred charges and accrued income | 490/1 | €657 | €949 | +€291 | +44.3% |
| Total equity and liabilities | 10/49 | €1,118,257 | €1,145,158 | +€26,901 | +2.4% |
| Equity | 10/15 | €313,515 | €323,168 | +€9,653 | +3.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €213,515 | €223,168 | +€9,653 | +4.5% |
| Tax-exempt reserves | 132 | €120 | €120 | = | 0.0% |
| Distributable reserves | 133 | €213,395 | €223,048 | +€9,653 | +4.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €804,742 | €821,989 | +€17,248 | +2.1% |
| Amounts payable after more than one year | 17 | €257,002 | €383,673 | +€126,670 | +49.3% |
| Financial debts | 170/4 | €42,023 | €151,683 | +€109,660 | +261.0% |
| Other amounts payable | 178/9 | €214,979 | €231,990 | +€17,011 | +7.9% |
| Amounts payable within one year | 42/48 | €547,448 | €437,567 | -€109,881 | -20.1% |
| Current portion of amounts payable after more than one year | 42 | €20,311 | €59,066 | +€38,755 | +190.8% |
| Financial debts | 43 | €148,160 | €126,265 | -€21,895 | -14.8% |
| Credit institutions | 430/8 | €148,160 | €126,265 | -€21,895 | -14.8% |
| Trade debts | 44 | €171,964 | €56,858 | -€115,106 | -66.9% |
| Suppliers | 440/4 | €171,964 | €56,858 | -€115,106 | -66.9% |
| Advances received on contracts in progress | 46 | €180,000 | €167,000 | -€13,000 | -7.2% |
| Taxes, remuneration and social security | 45 | €27,013 | €28,378 | +€1,365 | +5.1% |
| Taxes | 450/3 | €6,702 | €6,798 | +€96 | +1.4% |
| Remuneration and social security | 454/9 | €20,311 | €21,580 | +€1,269 | +6.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €291 | €750 | +€458 | +157.3% |
| Non-recurring operating income | 76A | €8,745 | €1 | -€8,745 | -100.0% |
| Remuneration, social security and pensions | 62 | €185,300 | €183,211 | -€2,089 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,566 | €54,884 | +€13,318 | +32.0% |
| Other operating charges | 640/8 | €2,473 | €3,057 | +€584 | +23.6% |
| Non-recurring operating charges | 66A | €605 | €0 | -€605 | -100.0% |
| Gross operating margin | 9900 | €216,298 | €234,985 | +€18,687 | +8.6% |
| Operating profit (loss) | 9901 | -€13,646 | -€6,167 | +€7,480 | +54.8% |
| Financial income | 75/76B | €48,809 | €40,840 | -€7,968 | -16.3% |
| Recurring financial income | 75 | €48,809 | €40,840 | -€7,968 | -16.3% |
| Financial charges | 65/66B | €14,921 | €21,115 | +€6,194 | +41.5% |
| Recurring financial charges | 65 | €14,921 | €21,115 | +€6,194 | +41.5% |
| Profit (loss) for the period before taxes | 9903 | €20,242 | €13,559 | -€6,683 | -33.0% |
| Income taxes | 67/77 | €6,738 | €3,906 | -€2,833 | -42.0% |
| Profit (loss) for the period | 9904 | €13,504 | €9,653 | -€3,851 | -28.5% |
| Profit (loss) for the period to be appropriated | 9905 | €13,504 | €9,653 | -€3,851 | -28.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.