HLV Group: what changed
What changed
HLV Group
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
-€6,074
2024 · €3.0m-€3.0m
Equity
€35.2m
2024 · €35.2m-€6,074
Cash
€13,466
2024 · €5,013+€8,453
Balance sheet total
€43.5m
2024 · €42.5m+€923,670
Largest movements
Assets
- Financial fixed assets +€1.7m
up €1.7m (+4.1%), from €41.3m to €43.0m
of which Affiliated companies: +€1.7m
- Receivables within one year -€940,638
down €940,638 (-86.3%), from €1.1m to €149,411
of which Other amounts receivable: -€919,242
Equity and liabilities
- Other debts +€1.0m
up €1.0m (+16.1%), from €6.5m to €7.5m
Income statement
- Financial income -€2.9m
down €2.9m (-99.6%), from €3.0m to €12,440
- Turnover -€51,161
down €51,161 (-13.1%), from €389,269 to €338,107
- Goods and materials -€35,643
down €35,643 (-98.9%), from €36,031 to €388
- Services and other goods +€21,089
up €21,089 (+19.8%), from €106,719 to €127,808
- Taxes -€9,175
down €9,175 (-60.5%), from €15,175 to €6,000
of which Taxes: -€10,000
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€3.0m
Turnover
-€51,161
Other operating income
-€5,877
Goods and materials
+€35,643
Services and other goods
-€21,089
Staff costs
+€8,039
Other operating charges
+€505
Financial income
-€2.9m
Financial charges
-€2,800
Taxes
+€9,175
Result 2025
-€6,074
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.8m
Investment
-€1.7m
Financing
-€117,857
Cash 2024
€5,013
From operations (derived)
+€1.8m
Net result for the year
-€6,074
Receivables after one year
-€200,000
Receivables within one year
+€940,638
Deferred charges and accrued income
+€27,691
Trade debts
-€4,480
Tax, wage and social debts
+€6,778
Other debts
+€1.0m
Accrued charges and deferred income
+€5,678
Investment (derived)
-€1.7m
Investment in fixed assets (net)
-€1.7m
Financing
-€117,857
Debts after one year
-€117,857
Cash 2025
€13,466
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €42,533,676 | €43,457,346 | +€923,670 | +2.2% |
| Fixed assets | 21/28 | €41,405,253 | €43,088,800 | +€1.7m | +4.1% |
| Tangible fixed assets | 22/27 | €137,394 | €137,394 | = | 0.0% |
| Other tangible fixed assets | 26 | €137,394 | €137,394 | = | 0.0% |
| Financial fixed assets | 28 | €41,267,859 | €42,951,406 | +€1.7m | +4.1% |
| Affiliated companies | 280/1 | €41,023,641 | €42,707,188 | +€1.7m | +4.1% |
| Participating interests | 280 | €41,023,641 | €42,707,188 | +€1.7m | +4.1% |
| Companies linked by participating interests | 282/3 | €244,218 | €244,218 | = | 0.0% |
| Participating interests | 282 | €244,218 | €244,218 | = | 0.0% |
| Current assets | 29/58 | €1,128,423 | €368,547 | -€759,876 | -67.3% |
| Amounts receivable after more than one year | 29 | - | €200,000 | +€200,000 | |
| Other amounts receivable | 291 | - | €200,000 | +€200,000 | |
| Amounts receivable within one year | 40/41 | €1,090,049 | €149,411 | -€940,638 | -86.3% |
| Trade receivables | 40 | €165,807 | €144,411 | -€21,396 | -12.9% |
| Other amounts receivable | 41 | €924,242 | €5,000 | -€919,242 | -99.5% |
| Cash at bank and in hand | 54/58 | €5,013 | €13,466 | +€8,453 | +169% |
| Deferred charges and accrued income | 490/1 | €33,361 | €5,670 | -€27,691 | -83.0% |
| Total equity and liabilities | 10/49 | €42,533,676 | €43,457,346 | +€923,670 | +2.2% |
| Equity | 10/15 | €35,246,220 | €35,240,147 | -€6,074 | 0.0% |
| Contributions | 10/11 | €29,343,007 | €29,343,007 | = | 0.0% |
| Contributions outside capital | 11 | €29,343,007 | €29,343,007 | = | 0.0% |
| Other | 1109/19 | €29,343,007 | €29,343,007 | = | 0.0% |
| Reserves | 13 | €5,903,214 | €5,897,140 | -€6,074 | -0.1% |
| Distributable reserves | 133 | €5,903,214 | €5,897,140 | -€6,074 | -0.1% |
| Amounts payable | 17/49 | €7,287,456 | €8,217,200 | +€929,744 | +12.8% |
| Amounts payable after more than one year | 17 | €585,714 | €467,857 | -€117,857 | -20.1% |
| Financial debts | 170/4 | €585,714 | €467,857 | -€117,857 | -20.1% |
| Credit institutions | 173 | €235,714 | €117,857 | -€117,857 | -50.0% |
| Other loans | 174 | €350,000 | €350,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €6,659,250 | €7,701,173 | +€1.0m | +15.6% |
| Current portion of amounts payable after more than one year | 42 | €117,857 | €117,857 | = | 0.0% |
| Trade debts | 44 | €15,845 | €11,365 | -€4,480 | -28.3% |
| Suppliers | 440/4 | €15,845 | €11,365 | -€4,480 | -28.3% |
| Taxes, remuneration and social security | 45 | €61,601 | €68,380 | +€6,778 | +11.0% |
| Taxes | 450/3 | €39,737 | €46,262 | +€6,525 | +16.4% |
| Remuneration and social security | 454/9 | €21,864 | €22,117 | +€253 | +1.2% |
| Other amounts payable | 47/48 | €6,463,947 | €7,503,571 | +€1.0m | +16.1% |
| Accrued charges and deferred income | 492/3 | €42,492 | €48,170 | +€5,678 | +13.4% |
| Operating income | 70/76A | €395,334 | €338,295 | -€57,039 | -14.4% |
| Turnover | 70 | €389,269 | €338,107 | -€51,161 | -13.1% |
| Other operating income | 74 | €6,065 | €188 | -€5,877 | -96.9% |
| Operating charges | 60/66A | €319,370 | €296,272 | -€23,098 | -7.2% |
| Goods for resale, raw materials and consumables | 60 | €36,031 | €388 | -€35,643 | -98.9% |
| Purchases | 600/8 | €36,031 | €388 | -€35,643 | -98.9% |
| Services and other goods | 61 | €106,719 | €127,808 | +€21,089 | +19.8% |
| Remuneration, social security and pensions | 62 | €171,343 | €163,304 | -€8,039 | -4.7% |
| Other operating charges | 640/8 | €5,277 | €4,773 | -€505 | -9.6% |
| Operating profit (loss) | 9901 | €75,964 | €42,023 | -€33,941 | -44.7% |
| Financial income | 75/76B | €2,958,184 | €12,440 | -€2.9m | -99.6% |
| Recurring financial income | 75 | €2,958,184 | €12,440 | -€2.9m | -99.6% |
| Income from financial fixed assets | 750 | €2,958,184 | - | -€3.0m | |
| Income from current assets | 751 | - | €12,307 | +€12,307 | |
| Other financial income | 752/9 | €0 | €134 | +€134 | +1,335,000% |
| Financial charges | 65/66B | €51,737 | €54,537 | +€2,800 | +5.4% |
| Recurring financial charges | 65 | €51,737 | €54,537 | +€2,800 | +5.4% |
| Debt charges | 650 | €49,892 | €52,734 | +€2,842 | +5.7% |
| Other financial charges | 652/9 | €1,844 | €1,803 | -€41 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | €2,982,411 | -€74 | -€3.0m | |
| Income taxes | 67/77 | €15,175 | €6,000 | -€9,175 | -60.5% |
| Taxes | 670/3 | €16,000 | €6,000 | -€10,000 | -62.5% |
| Tax adjustments and reversals of tax provisions | 77 | €825 | - | -€825 | |
| Profit (loss) for the period | 9904 | €2,967,236 | -€6,074 | -€3.0m | |
| Profit (loss) for the period to be appropriated | 9905 | €2,967,236 | -€6,074 | -€3.0m |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.