HRLV: 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.
HRLV
Largest movements
- Financial fixed assets +€1.3m
up €1.3m (+10.0%), from €13.1m to €14.4m
- Receivables within one year -€529,079
down €529,079 (-100.0%), from €529,079 to €0
- Profit (loss) carried forward +€2.1m
up €2.1m (+45.9%), from €4.5m to €6.6m
- Debts after one year -€900,000
down €900,000 (-18.2%), from €5.0m to €4.1m
- Other debts -€400,000
down €400,000 (-38.1%), from €1.1m to €650,000
- Financial income +€1.4m
up €1.4m (+179.9%), from €800,262 to €2.2m
- Financial charges -€91,315
down €91,315 (-36.7%), from €248,510 to €157,195
- Gross operating margin -€3,861
down €3,861 (-4536.8%), from -€85 to -€3,946
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 | €13,782,005 | €14,478,194 | +€696,189 | +5.1% |
| Fixed assets | 21/28 | €13,100,000 | €14,413,643 | +€1.3m | +10.0% |
| Financial fixed assets | 28 | €13,100,000 | €14,413,643 | +€1.3m | +10.0% |
| Current assets | 29/58 | €682,005 | €64,550 | -€617,454 | -90.5% |
| Amounts receivable within one year | 40/41 | €529,079 | €0 | -€529,079 | -100.0% |
| Other amounts receivable | 41 | €529,079 | €0 | -€529,079 | -100.0% |
| Cash at bank and in hand | 54/58 | €152,926 | €64,550 | -€88,376 | -57.8% |
| Total equity and liabilities | 10/49 | €13,782,005 | €14,478,194 | +€696,189 | +5.1% |
| Equity | 10/15 | €7,523,495 | €9,601,355 | +€2.1m | +27.6% |
| Contributions | 10/11 | €3,000,000 | €3,000,000 | = | 0.0% |
| Capital | 10 | €3,000,000 | €3,000,000 | = | 0.0% |
| Issued capital | 100 | €3,000,000 | €3,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,523,495 | €6,601,355 | +€2.1m | +45.9% |
| Amounts payable | 17/49 | €6,258,510 | €4,876,839 | -€1.4m | -22.1% |
| Amounts payable after more than one year | 17 | €4,950,000 | €4,050,000 | -€900,000 | -18.2% |
| Other amounts payable | 178/9 | €4,950,000 | €4,050,000 | -€900,000 | -18.2% |
| Amounts payable within one year | 42/48 | €1,063,539 | €655,569 | -€407,970 | -38.4% |
| Taxes, remuneration and social security | 45 | €13,539 | €5,569 | -€7,970 | -58.9% |
| Taxes | 450/3 | €13,539 | €5,569 | -€7,970 | -58.9% |
| Other amounts payable | 47/48 | €1,050,000 | €650,000 | -€400,000 | -38.1% |
| Accrued charges and deferred income | 492/3 | €244,971 | €171,270 | -€73,701 | -30.1% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | -€85 | -€3,946 | -€3,861 | -4536.8% |
| Operating profit (loss) | 9901 | -€1,053 | -€4,944 | -€3,892 | -369.7% |
| Financial income | 75/76B | €800,262 | €2,240,000 | +€1.4m | +179.9% |
| Recurring financial income | 75 | €800,262 | €2,240,000 | +€1.4m | +179.9% |
| Financial charges | 65/66B | €248,510 | €157,195 | -€91,315 | -36.7% |
| Recurring financial charges | 65 | €248,510 | €157,195 | -€91,315 | -36.7% |
| Profit (loss) for the period before taxes | 9903 | €550,699 | €2,077,860 | +€1.5m | +277.3% |
| Profit (loss) for the period | 9904 | €550,699 | €2,077,860 | +€1.5m | +277.3% |
| Profit (loss) for the period to be appropriated | 9905 | €550,699 | €2,077,860 | +€1.5m | +277.3% |
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 9 October 2026 via checked.be.