HKV: 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.
HKV
Largest movements
- Cash -€13,894
down €13,894 (-21.2%), from €65,542 to €51,648
mainly Net result for the year (-€20,079) and Trade debts (-€15,451)
- Tangible fixed assets -€4,308
down €4,308 (-35.2%), from €12,245 to €7,938
of which Plant, machinery and equipment: -€3,971
- Receivables within one year -€2,393
down €2,393 (-1.7%), from €140,166 to €137,774
of which Trade receivables: -€13,558
- Profit (loss) carried forward -€20,079
down €20,079 (-62.3%), from €32,213 to €12,135
- Trade debts -€15,451
down €15,451 (-75.3%), from €20,508 to €5,058
- Tax, wage and social debts +€15,318
up €15,318 (+35.3%), from €43,371 to €58,690
of which Remuneration and social security: +€16,902
- Staff costs +€34,918
up €34,918 (+39.3%), from €88,866 to €123,783
- Taxes -€5,261
down €5,261 (-94.7%), from €5,558 to €297
- Gross operating margin -€4,262
down €4,262 (-3.7%), from €114,241 to €109,979
- Depreciation -€3,341
down €3,341 (-43.7%), from €7,648 to €4,308
- Financial charges -€3,061
down €3,061 (-44.4%), from €6,889 to €3,827
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €231,643 | €211,503 | -€20,140 | -8.7% |
| Fixed assets | 21/28 | €12,245 | €7,938 | -€4,308 | -35.2% |
| Tangible fixed assets | 22/27 | €12,245 | €7,938 | -€4,308 | -35.2% |
| Plant, machinery and equipment | 23 | €11,833 | €7,862 | -€3,971 | -33.6% |
| Furniture and vehicles | 24 | €412 | €75 | -€337 | -81.7% |
| Current assets | 29/58 | €219,398 | €203,565 | -€15,833 | -7.2% |
| Stocks and contracts in progress | 3 | €11,416 | €11,797 | +€381 | +3.3% |
| Stocks | 30/36 | €11,416 | €11,797 | +€381 | +3.3% |
| Amounts receivable within one year | 40/41 | €140,166 | €137,774 | -€2,393 | -1.7% |
| Trade receivables | 40 | €60,316 | €46,758 | -€13,558 | -22.5% |
| Other amounts receivable | 41 | €79,851 | €91,016 | +€11,166 | +14.0% |
| Current investments | 50/53 | €105 | €105 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €65,542 | €51,648 | -€13,894 | -21.2% |
| Deferred charges and accrued income | 490/1 | €2,168 | €2,241 | +€73 | +3.4% |
| Total equity and liabilities | 10/49 | €231,643 | €211,503 | -€20,140 | -8.7% |
| Equity | 10/15 | €167,763 | €147,685 | -€20,079 | -12.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €120,550 | €120,550 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €117,550 | €117,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,213 | €12,135 | -€20,079 | -62.3% |
| Amounts payable | 17/49 | €63,879 | €63,818 | -€62 | -0.1% |
| Amounts payable within one year | 42/48 | €63,879 | €63,747 | -€132 | -0.2% |
| Trade debts | 44 | €20,508 | €5,058 | -€15,451 | -75.3% |
| Suppliers | 440/4 | €20,508 | €5,058 | -€15,451 | -75.3% |
| Taxes, remuneration and social security | 45 | €43,371 | €58,690 | +€15,318 | +35.3% |
| Taxes | 450/3 | €15,550 | €13,966 | -€1,584 | -10.2% |
| Remuneration and social security | 454/9 | €27,822 | €44,724 | +€16,902 | +60.8% |
| Accrued charges and deferred income | 492/3 | - | €71 | +€71 | |
| Remuneration, social security and pensions | 62 | €88,866 | €123,783 | +€34,918 | +39.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,648 | €4,308 | -€3,341 | -43.7% |
| Other operating charges | 640/8 | €1,923 | €3,216 | +€1,292 | +67.2% |
| Gross operating margin | 9900 | €114,241 | €109,979 | -€4,262 | -3.7% |
| Operating profit (loss) | 9901 | €15,804 | -€21,327 | -€37,131 | |
| Financial income | 75/76B | €4,093 | €5,373 | +€1,281 | +31.3% |
| Recurring financial income | 75 | €4,093 | €5,373 | +€1,281 | +31.3% |
| Financial charges | 65/66B | €6,889 | €3,827 | -€3,061 | -44.4% |
| Recurring financial charges | 65 | €6,889 | €3,827 | -€3,061 | -44.4% |
| Profit (loss) for the period before taxes | 9903 | €13,008 | -€19,781 | -€32,789 | |
| Income taxes | 67/77 | €5,558 | €297 | -€5,261 | -94.7% |
| Profit (loss) for the period | 9904 | €7,450 | -€20,079 | -€27,528 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,450 | -€20,079 | -€27,528 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.