HLV CONSULTING: 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.
HLV CONSULTING
Largest movements
- Receivables within one year +€117,568
up €117,568 (+17.1%), from €689,393 to €806,961
of which Other amounts receivable: +€130,085
- Cash -€76,071
down €76,071 (-58.6%), from €129,907 to €53,836
mainly Receivables within one year (-€117,568) and Trade debts (-€73,492)
- Reserves +€154,107
up €154,107 (+13.9%), from €1.1m to €1.3m
of which Distributable reserves: +€154,107
- Trade debts -€73,492
down €73,492 (-98.2%), from €74,852 to €1,361
- Other debts -€43,581
down €43,581 (-2.4%), from €1.8m to €1.8m
- Current portion of long-term debt -€36,557
no longer reported in 2025 (was €36,557)
- Financial income -€10,000
down €10,000 (-7.1%), from €140,000 to €130,000
- Gross operating margin +€2,332
up €2,332 (+1.6%), from €148,864 to €151,196
- Taxes -€1,583
down €1,583 (-2.1%), from €75,770 to €74,187
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 | €3,276,738 | €3,283,057 | +€6,319 | +0.2% |
| Fixed assets | 21/28 | €2,453,079 | €2,420,789 | -€32,290 | -1.3% |
| Intangible fixed assets | 21 | €150,117 | €130,039 | -€20,078 | -13.4% |
| Tangible fixed assets | 22/27 | €266,962 | €254,750 | -€12,212 | -4.6% |
| Land and buildings | 22 | €266,712 | €254,750 | -€11,962 | -4.5% |
| Other tangible fixed assets | 26 | €250 | - | -€250 | |
| Financial fixed assets | 28 | €2,036,000 | €2,036,000 | = | 0.0% |
| Current assets | 29/58 | €823,659 | €862,267 | +€38,609 | +4.7% |
| Amounts receivable within one year | 40/41 | €689,393 | €806,961 | +€117,568 | +17.1% |
| Trade receivables | 40 | €12,518 | - | -€12,518 | |
| Other amounts receivable | 41 | €676,875 | €806,961 | +€130,085 | +19.2% |
| Cash at bank and in hand | 54/58 | €129,907 | €53,836 | -€76,071 | -58.6% |
| Deferred charges and accrued income | 490/1 | €4,359 | €1,470 | -€2,889 | -66.3% |
| Total equity and liabilities | 10/49 | €3,276,738 | €3,283,057 | +€6,319 | +0.2% |
| Equity | 10/15 | €1,311,811 | €1,465,918 | +€154,107 | +11.7% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €1,111,811 | €1,265,918 | +€154,107 | +13.9% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €1,091,811 | €1,245,918 | +€154,107 | +14.1% |
| Amounts payable | 17/49 | €1,964,927 | €1,817,139 | -€147,788 | -7.5% |
| Amounts payable within one year | 42/48 | €1,964,927 | €1,817,139 | -€147,788 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €36,557 | - | -€36,557 | |
| Financial debts | 43 | - | €16,842 | +€16,842 | |
| Other loans | 439 | - | €16,842 | +€16,842 | |
| Trade debts | 44 | €74,852 | €1,361 | -€73,492 | -98.2% |
| Suppliers | 440/4 | €74,852 | €1,361 | -€73,492 | -98.2% |
| Taxes, remuneration and social security | 45 | €11,000 | - | -€11,000 | |
| Taxes | 450/3 | €11,000 | - | -€11,000 | |
| Other amounts payable | 47/48 | €1,842,518 | €1,798,936 | -€43,581 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,231 | €44,084 | +€853 | +2.0% |
| Other operating charges | 640/8 | €8,402 | €7,392 | -€1,010 | -12.0% |
| Gross operating margin | 9900 | €148,864 | €151,196 | +€2,332 | +1.6% |
| Operating profit (loss) | 9901 | €97,231 | €99,719 | +€2,489 | +2.6% |
| Financial income | 75/76B | €140,000 | €130,000 | -€10,000 | -7.1% |
| Recurring financial income | 75 | €140,000 | €130,000 | -€10,000 | -7.1% |
| Financial charges | 65/66B | €1,660 | €1,426 | -€234 | -14.1% |
| Recurring financial charges | 65 | €1,660 | €1,426 | -€234 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | €235,571 | €228,293 | -€7,278 | -3.1% |
| Income taxes | 67/77 | €75,770 | €74,187 | -€1,583 | -2.1% |
| Profit (loss) for the period | 9904 | €159,801 | €154,107 | -€5,695 | -3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €159,801 | €154,107 | -€5,695 | -3.6% |
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 31 October 2026 via checked.be.