HV IMMO: 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.
HV IMMO
Largest movements
- Tangible fixed assets -€29,479
down €29,479 (-59.7%), from €49,406 to €19,927
of which Land and buildings: -€20,543
- Receivables within one year -€11,073
down €11,073 (-27.4%), from €40,431 to €29,358
of which Other amounts receivable: -€27,073
- Deferred charges and accrued income +€10,202
up €10,202 (+109.5%), from €9,319 to €19,522
- Cash +€2,995
up €2,995 (+293.5%), from €1,020 to €4,015
mainly Investment in fixed assets (net) (+€15,550) and Depreciation (+€13,929)
- Profit (loss) carried forward -€10,554
down €10,554 (-12.3%), from €86,048 to €75,494
- Tax, wage and social debts -€8,063
down €8,063 (-53.0%), from €15,220 to €7,158
- Current portion of long-term debt -€7,837
down €7,837 (-40.4%), from €19,394 to €11,557
- Debts after one year -€2,866
down €2,866 (-3.9%), from €73,090 to €70,224
- Contributions +€2,800
up €2,800 (+20.9%), from €13,400 to €16,200
- Financial income -€37,630
down €37,630 (-98.8%), from €38,081 to €450
of which Non-recurring financial income: -€37,630
- Financial charges -€15,840
down €15,840 (-63.2%), from €25,065 to €9,225
- Gross operating margin -€11,958
down €11,958 (-34.9%), from €34,260 to €22,302
- Taxes -€7,423
down €7,423, from €7,415 to -€8
- Other operating charges -€5,938
down €5,938 (-64.8%), from €9,167 to €3,229
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 | €250,979 | €223,624 | -€27,355 | -10.9% |
| Fixed assets | 21/28 | €49,406 | €19,927 | -€29,479 | -59.7% |
| Tangible fixed assets | 22/27 | €49,406 | €19,927 | -€29,479 | -59.7% |
| Land and buildings | 22 | €26,946 | €6,403 | -€20,543 | -76.2% |
| Plant, machinery and equipment | 23 | €579 | €277 | -€302 | -52.2% |
| Furniture and vehicles | 24 | €21,881 | €13,247 | -€8,634 | -39.5% |
| Current assets | 29/58 | €201,573 | €203,698 | +€2,124 | +1.1% |
| Stocks and contracts in progress | 3 | €150,803 | €150,803 | = | 0.0% |
| Stocks | 30/36 | €150,803 | €150,803 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €40,431 | €29,358 | -€11,073 | -27.4% |
| Trade receivables | 40 | - | €16,000 | +€16,000 | |
| Other amounts receivable | 41 | €40,431 | €13,358 | -€27,073 | -67.0% |
| Cash at bank and in hand | 54/58 | €1,020 | €4,015 | +€2,995 | +293.5% |
| Deferred charges and accrued income | 490/1 | €9,319 | €19,522 | +€10,202 | +109.5% |
| Total equity and liabilities | 10/49 | €250,979 | €223,624 | -€27,355 | -10.9% |
| Equity | 10/15 | €101,308 | €93,554 | -€7,754 | -7.7% |
| Contributions | 10/11 | €13,400 | €16,200 | +€2,800 | +20.9% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,048 | €75,494 | -€10,554 | -12.3% |
| Amounts payable | 17/49 | €149,671 | €130,070 | -€19,601 | -13.1% |
| Amounts payable after more than one year | 17 | €73,090 | €70,224 | -€2,866 | -3.9% |
| Financial debts | 170/4 | €73,090 | €70,224 | -€2,866 | -3.9% |
| Amounts payable within one year | 42/48 | €76,581 | €57,846 | -€18,736 | -24.5% |
| Current portion of amounts payable after more than one year | 42 | €19,394 | €11,557 | -€7,837 | -40.4% |
| Financial debts | 43 | €34,360 | €31,729 | -€2,631 | -7.7% |
| Credit institutions | 430/8 | €34,360 | €31,729 | -€2,631 | -7.7% |
| Trade debts | 44 | €4,606 | €1,911 | -€2,694 | -58.5% |
| Suppliers | 440/4 | €4,606 | €1,911 | -€2,694 | -58.5% |
| Taxes, remuneration and social security | 45 | €15,220 | €7,158 | -€8,063 | -53.0% |
| Taxes | 450/3 | €15,220 | €7,158 | -€8,063 | -53.0% |
| Other amounts payable | 47/48 | €3,002 | €5,491 | +€2,490 | +82.9% |
| Accrued charges and deferred income | 492/3 | - | €2,000 | +€2,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,160 | €13,929 | +€1,769 | +14.6% |
| Other operating charges | 640/8 | €9,167 | €3,229 | -€5,938 | -64.8% |
| Non-recurring operating charges | 66A | - | €6,930 | +€6,930 | |
| Gross operating margin | 9900 | €34,260 | €22,302 | -€11,958 | -34.9% |
| Operating profit (loss) | 9901 | €12,933 | -€1,787 | -€14,720 | |
| Financial income | 75/76B | €38,081 | €450 | -€37,630 | -98.8% |
| Recurring financial income | 75 | €0 | €450 | +€450 | +1125100.0% |
| Non-recurring financial income | 76B | €38,081 | €450 | -€37,630 | -98.8% |
| Financial charges | 65/66B | €25,065 | €9,225 | -€15,840 | -63.2% |
| Recurring financial charges | 65 | €25,065 | €9,225 | -€15,840 | -63.2% |
| Profit (loss) for the period before taxes | 9903 | €25,948 | -€10,562 | -€36,510 | |
| Income taxes | 67/77 | €7,415 | -€8 | -€7,423 | |
| Profit (loss) for the period | 9904 | €18,534 | -€10,554 | -€29,087 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,534 | -€10,554 | -€29,087 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.