HV CONCEPT: 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.
HV CONCEPT
Largest movements
- Cash -€4,888
down €4,888 (-14.0%), from €34,864 to €29,976
mainly Investment in fixed assets (net) (-€4,850) and Receivables within one year (-€3,082)
- Receivables within one year +€3,082
up €3,082 (+1,016%), from €303 to €3,386
of which Trade receivables: +€3,162
- Deferred charges and accrued income +€2,253
up €2,253 (+310%), from €726 to €2,980
- Tangible fixed assets -€1,900
down €1,900 (-7.2%), from €26,263 to €24,362
of which Plant, machinery and equipment: -€2,029
- Stocks and contracts -€965
down €965 (-9.2%), from €10,477 to €9,512
- Accrued charges and deferred income -€2,320
down €2,320 (-100%), from €2,320 to €0
- Tax, wage and social debts -€2,136
down €2,136 (-36.7%), from €5,813 to €3,677
- Profit (loss) carried forward +€1,843
up €1,843 (+14.3%), from -€12,857 to -€11,014
- Trade debts +€1,541
up €1,541 (+60.0%), from €2,570 to €4,111
- Other debts -€1,346
down €1,346 (-2.3%), from €57,828 to €56,481
- Gross operating margin -€10,815
down €10,815 (-46.0%), from €23,527 to €12,712
- Financial charges -€799
down €799 (-36.4%), from €2,192 to €1,393
- Financial income -€283
down €283 (-62.2%), from €454 to €172
- Depreciation -€249
down €249 (-3.6%), from €6,999 to €6,750
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 | €76,134 | €73,716 | -€2,418 | -3.2% |
| Fixed assets | 21/28 | €29,763 | €27,862 | -€1,900 | -6.4% |
| Tangible fixed assets | 22/27 | €26,263 | €24,362 | -€1,900 | -7.2% |
| Plant, machinery and equipment | 23 | €14,128 | €12,099 | -€2,029 | -14.4% |
| Furniture and vehicles | 24 | €12,134 | €12,263 | +€128 | +1.1% |
| Financial fixed assets | 28 | €3,500 | €3,500 | = | 0.0% |
| Current assets | 29/58 | €46,372 | €45,854 | -€518 | -1.1% |
| Stocks and contracts in progress | 3 | €10,477 | €9,512 | -€965 | -9.2% |
| Stocks | 30/36 | €10,477 | €9,512 | -€965 | -9.2% |
| Amounts receivable within one year | 40/41 | €303 | €3,386 | +€3,082 | +1,016% |
| Trade receivables | 40 | €214 | €3,376 | +€3,162 | +1,481% |
| Other amounts receivable | 41 | €90 | €10 | -€80 | -88.9% |
| Cash at bank and in hand | 54/58 | €34,864 | €29,976 | -€4,888 | -14.0% |
| Deferred charges and accrued income | 490/1 | €726 | €2,980 | +€2,253 | +310% |
| Total equity and liabilities | 10/49 | €76,134 | €73,716 | -€2,418 | -3.2% |
| Equity | 10/15 | €7,603 | €9,446 | +€1,843 | +24.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,857 | -€11,014 | +€1,843 | +14.3% |
| Amounts payable | 17/49 | €68,531 | €64,270 | -€4,261 | -6.2% |
| Amounts payable within one year | 42/48 | €66,211 | €64,270 | -€1,941 | -2.9% |
| Trade debts | 44 | €2,570 | €4,111 | +€1,541 | +60.0% |
| Suppliers | 440/4 | €2,570 | €4,111 | +€1,541 | +60.0% |
| Taxes, remuneration and social security | 45 | €5,813 | €3,677 | -€2,136 | -36.7% |
| Taxes | 450/3 | €5,813 | €3,677 | -€2,136 | -36.7% |
| Other amounts payable | 47/48 | €57,828 | €56,481 | -€1,346 | -2.3% |
| Accrued charges and deferred income | 492/3 | €2,320 | €0 | -€2,320 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,999 | €6,750 | -€249 | -3.6% |
| Other operating charges | 640/8 | €2,602 | €2,667 | +€65 | +2.5% |
| Gross operating margin | 9900 | €23,527 | €12,712 | -€10,815 | -46.0% |
| Operating profit (loss) | 9901 | €13,926 | €3,295 | -€10,631 | -76.3% |
| Financial income | 75/76B | €454 | €172 | -€283 | -62.2% |
| Recurring financial income | 75 | €454 | €172 | -€283 | -62.2% |
| Financial charges | 65/66B | €2,192 | €1,393 | -€799 | -36.4% |
| Recurring financial charges | 65 | €2,192 | €1,393 | -€799 | -36.4% |
| Profit (loss) for the period before taxes | 9903 | €12,188 | €2,074 | -€10,115 | -83.0% |
| Income taxes | 67/77 | €236 | €231 | -€5 | -2.2% |
| Profit (loss) for the period | 9904 | €11,952 | €1,843 | -€10,109 | -84.6% |
| Profit (loss) for the period to be appropriated | 9905 | €11,952 | €1,843 | -€10,109 | -84.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.