HJV: 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.
HJV
Largest movements
- Cash +€73,404
up €73,404 (+158.5%), from €46,300 to €119,705
mainly Net result for the year (+€93,049) and Tax, wage and social debts (+€16,675)
- Receivables within one year -€6,720
down €6,720 (-21.5%), from €31,236 to €24,516
of which Trade receivables: -€8,172
- Reserves +€53,000
up €53,000 (+132.5%), from €40,000 to €93,000
- Tax, wage and social debts +€16,675
up €16,675 (+123.6%), from €13,488 to €30,163
- Other debts -€8,622
down €8,622 (-100.0%), from €8,622 to €0
- Trade debts +€4,295
up €4,295 (+1236.6%), from €347 to €4,643
- Gross operating margin +€74,884
up €74,884 (+154.8%), from €48,379 to €123,263
- Financial charges -€64,808
down €64,808 (-99.9%), from €64,874 to €66
of which Non-recurring financial charges: -€64,659
- Taxes +€16,112
up €16,112 (+141.0%), from €11,430 to €27,542
- Financial income -€3,251
down €3,251 (-99.2%), from €3,277 to €26
- Depreciation -€1,844
down €1,844 (-57.5%), from €3,206 to €1,361
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 | €81,709 | €147,106 | +€65,397 | +80.0% |
| Fixed assets | 21/28 | €2,714 | €2,886 | +€171 | +6.3% |
| Tangible fixed assets | 22/27 | €2,714 | €2,886 | +€171 | +6.3% |
| Furniture and vehicles | 24 | €2,714 | €2,886 | +€171 | +6.3% |
| Current assets | 29/58 | €78,995 | €144,221 | +€65,226 | +82.6% |
| Amounts receivable within one year | 40/41 | €31,236 | €24,516 | -€6,720 | -21.5% |
| Trade receivables | 40 | €31,236 | €23,064 | -€8,172 | -26.2% |
| Other amounts receivable | 41 | €0 | €1,452 | +€1,452 | |
| Cash at bank and in hand | 54/58 | €46,300 | €119,705 | +€73,404 | +158.5% |
| Deferred charges and accrued income | 490/1 | €1,458 | €0 | -€1,458 | -100.0% |
| Total equity and liabilities | 10/49 | €81,709 | €147,106 | +€65,397 | +80.0% |
| Equity | 10/15 | €59,252 | €112,301 | +€53,049 | +89.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €40,000 | €93,000 | +€53,000 | +132.5% |
| Distributable reserves | 133 | €40,000 | €93,000 | +€53,000 | +132.5% |
| Profit (loss) carried forward | 14 | €652 | €701 | +€49 | +7.5% |
| Amounts payable | 17/49 | €22,457 | €34,806 | +€12,348 | +55.0% |
| Amounts payable within one year | 42/48 | €22,457 | €34,806 | +€12,348 | +55.0% |
| Trade debts | 44 | €347 | €4,643 | +€4,295 | +1236.6% |
| Suppliers | 440/4 | €347 | €4,643 | +€4,295 | +1236.6% |
| Taxes, remuneration and social security | 45 | €13,488 | €30,163 | +€16,675 | +123.6% |
| Taxes | 450/3 | €13,488 | €30,163 | +€16,675 | +123.6% |
| Other amounts payable | 47/48 | €8,622 | €0 | -€8,622 | -100.0% |
| Non-recurring operating income | 76A | €303 | - | -€303 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,206 | €1,361 | -€1,844 | -57.5% |
| Other operating charges | 640/8 | €1,145 | €1,271 | +€125 | +10.9% |
| Gross operating margin | 9900 | €48,379 | €123,263 | +€74,884 | +154.8% |
| Operating profit (loss) | 9901 | €44,027 | €120,630 | +€76,603 | +174.0% |
| Financial income | 75/76B | €3,277 | €26 | -€3,251 | -99.2% |
| Recurring financial income | 75 | €3,277 | €26 | -€3,251 | -99.2% |
| Financial charges | 65/66B | €64,874 | €66 | -€64,808 | -99.9% |
| Recurring financial charges | 65 | €215 | €66 | -€149 | -69.3% |
| Non-recurring financial charges | 66B | €64,659 | €0 | -€64,659 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€17,570 | €120,591 | +€138,160 | |
| Income taxes | 67/77 | €11,430 | €27,542 | +€16,112 | +141.0% |
| Profit (loss) for the period | 9904 | -€29,000 | €93,049 | +€122,048 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,000 | €93,049 | +€122,048 |
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 5 October 2026 via checked.be.