HV Immotrade: 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 Immotrade
Largest movements
- Tangible fixed assets +€37,524
up €37,524 (+31.6%), from €118,894 to €156,418
of which Furniture and vehicles: +€50,346
- Cash +€14,631
up €14,631 (+20.6%), from €71,057 to €85,687
mainly Net result for the year (+€33,283) and Depreciation (+€20,167)
- Reserves +€33,283
up €33,283 (+395%), from €8,437 to €41,719
of which Distributable reserves: +€33,283
- Debts after one year +€14,475
up €14,475, from €0 to €14,475
- Current portion of long-term debt +€4,794
up €4,794 (+369%), from €1,298 to €6,092
- Depreciation +€6,245
up €6,245 (+44.9%), from €13,923 to €20,167
- Gross operating margin +€2,647
up €2,647 (+4.8%), from €54,611 to €57,258
- Financial charges +€637
up €637 (+282%), from €226 to €863
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 | €194,323 | €247,368 | +€53,044 | +27.3% |
| Fixed assets | 21/28 | €118,894 | €156,418 | +€37,524 | +31.6% |
| Tangible fixed assets | 22/27 | €118,894 | €156,418 | +€37,524 | +31.6% |
| Land and buildings | 22 | €118,124 | €105,541 | -€12,583 | -10.7% |
| Plant, machinery and equipment | 23 | €770 | €530 | -€240 | -31.2% |
| Furniture and vehicles | 24 | - | €50,346 | +€50,346 | |
| Current assets | 29/58 | €75,429 | €90,950 | +€15,521 | +20.6% |
| Amounts receivable within one year | 40/41 | €1,219 | €1,553 | +€333 | +27.3% |
| Trade receivables | 40 | €83 | €1,319 | +€1,236 | +1,485% |
| Other amounts receivable | 41 | €1,136 | €234 | -€903 | -79.4% |
| Cash at bank and in hand | 54/58 | €71,057 | €85,687 | +€14,631 | +20.6% |
| Deferred charges and accrued income | 490/1 | €3,153 | €3,710 | +€557 | +17.7% |
| Total equity and liabilities | 10/49 | €194,323 | €247,368 | +€53,044 | +27.3% |
| Equity | 10/15 | €70,937 | €104,220 | +€33,283 | +46.9% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €8,437 | €41,719 | +€33,283 | +395% |
| Non-distributable reserves | 130/1 | €6,186 | €6,186 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,186 | €6,186 | = | 0.0% |
| Distributable reserves | 133 | €2,251 | €35,533 | +€33,283 | +1,479% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €123,386 | €143,148 | +€19,762 | +16.0% |
| Amounts payable after more than one year | 17 | €0 | €14,475 | +€14,475 | |
| Financial debts | 170/4 | €0 | €14,475 | +€14,475 | |
| Amounts payable within one year | 42/48 | €122,386 | €127,674 | +€5,287 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | €1,298 | €6,092 | +€4,794 | +369% |
| Trade debts | 44 | €127 | €452 | +€325 | +255% |
| Suppliers | 440/4 | €127 | €452 | +€325 | +255% |
| Taxes, remuneration and social security | 45 | - | €15 | +€15 | |
| Taxes | 450/3 | - | €15 | +€15 | |
| Other amounts payable | 47/48 | €120,961 | €121,114 | +€153 | +0.1% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Non-recurring operating income | 76A | - | €5,450 | +€5,450 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,923 | €20,167 | +€6,245 | +44.9% |
| Other operating charges | 640/8 | €3,401 | €2,930 | -€471 | -13.9% |
| Gross operating margin | 9900 | €54,611 | €57,258 | +€2,647 | +4.8% |
| Operating profit (loss) | 9901 | €37,287 | €34,161 | -€3,126 | -8.4% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €226 | €863 | +€637 | +282% |
| Recurring financial charges | 65 | €226 | €863 | +€637 | +282% |
| Profit (loss) for the period before taxes | 9903 | €37,060 | €33,298 | -€3,762 | -10.2% |
| Income taxes | 67/77 | - | €15 | +€15 | |
| Profit (loss) for the period | 9904 | €37,060 | €33,283 | -€3,778 | -10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €37,060 | €33,283 | -€3,778 | -10.2% |
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 29 October 2026 via checked.be.