HV METALS: 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 METALS
Largest movements
- Receivables within one year -€27,238
down €27,238 (-37.1%), from €73,489 to €46,251
of which Trade receivables: -€14,187
- Tangible fixed assets +€12,734
up €12,734 (+29.9%), from €42,600 to €55,334
of which Furniture and vehicles: +€9,912
- Cash +€10,259
up €10,259 (+24.7%), from €41,596 to €51,855
mainly Receivables within one year (+€27,238) and Net result for the year (+€20,168)
- Receivables after one year -€8,100
down €8,100 (-100%), from €8,100 to €0
- Tax, wage and social debts -€12,556
down €12,556 (-47.3%), from €26,539 to €13,983
of which Taxes: -€8,254
- Reserves -€5,094
down €5,094 (-7.0%), from €73,157 to €68,063
of which Distributable reserves: -€5,094
- Trade debts +€3,246
up €3,246 (+19.3%), from €16,833 to €20,079
- Gross operating margin +€6,579
up €6,579 (+6.0%), from €109,562 to €116,142
- Staff costs +€4,672
up €4,672 (+7.0%), from €66,399 to €71,070
- Depreciation +€2,952
up €2,952 (+31.6%), from €9,350 to €12,302
- Financial income -€1,296
down €1,296 (-42.4%), from €3,059 to €1,763
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 | €181,643 | €166,978 | -€14,665 | -8.1% |
| Fixed assets | 21/28 | €42,600 | €55,334 | +€12,734 | +29.9% |
| Tangible fixed assets | 22/27 | €42,600 | €55,334 | +€12,734 | +29.9% |
| Plant, machinery and equipment | 23 | €24,571 | €27,393 | +€2,821 | +11.5% |
| Furniture and vehicles | 24 | €18,029 | €27,941 | +€9,912 | +55.0% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €139,043 | €111,644 | -€27,399 | -19.7% |
| Amounts receivable after more than one year | 29 | €8,100 | €0 | -€8,100 | -100% |
| Other amounts receivable | 291 | €8,100 | €0 | -€8,100 | -100% |
| Stocks and contracts in progress | 3 | €8,659 | €7,040 | -€1,619 | -18.7% |
| Stocks | 30/36 | €8,659 | €7,040 | -€1,619 | -18.7% |
| Amounts receivable within one year | 40/41 | €73,489 | €46,251 | -€27,238 | -37.1% |
| Trade receivables | 40 | €30,933 | €16,746 | -€14,187 | -45.9% |
| Other amounts receivable | 41 | €42,556 | €29,504 | -€13,051 | -30.7% |
| Cash at bank and in hand | 54/58 | €41,596 | €51,855 | +€10,259 | +24.7% |
| Deferred charges and accrued income | 490/1 | €7,198 | €6,498 | -€701 | -9.7% |
| Total equity and liabilities | 10/49 | €181,643 | €166,978 | -€14,665 | -8.1% |
| Equity | 10/15 | €107,786 | €101,026 | -€6,760 | -6.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €73,157 | €68,063 | -€5,094 | -7.0% |
| Tax-exempt reserves | 132 | €462 | €462 | = | 0.0% |
| Distributable reserves | 133 | €72,695 | €67,601 | -€5,094 | -7.0% |
| Profit (loss) carried forward | 14 | €16,029 | €14,363 | -€1,666 | -10.4% |
| Amounts payable | 17/49 | €73,857 | €65,952 | -€7,905 | -10.7% |
| Amounts payable within one year | 42/48 | €69,450 | €61,085 | -€8,365 | -12.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €16,833 | €20,079 | +€3,246 | +19.3% |
| Suppliers | 440/4 | €16,833 | €20,079 | +€3,246 | +19.3% |
| Advances received on contracts in progress | 46 | €2,149 | €2,149 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €26,539 | €13,983 | -€12,556 | -47.3% |
| Taxes | 450/3 | €18,721 | €10,467 | -€8,254 | -44.1% |
| Remuneration and social security | 454/9 | €7,818 | €3,516 | -€4,302 | -55.0% |
| Other amounts payable | 47/48 | €23,930 | €24,875 | +€945 | +4.0% |
| Accrued charges and deferred income | 492/3 | €4,407 | €4,866 | +€460 | +10.4% |
| Remuneration, social security and pensions | 62 | €66,399 | €71,070 | +€4,672 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,350 | €12,302 | +€2,952 | +31.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €757 | €0 | -€757 | -100% |
| Other operating charges | 640/8 | €2,218 | €1,615 | -€602 | -27.2% |
| Gross operating margin | 9900 | €109,562 | €116,142 | +€6,579 | +6.0% |
| Operating profit (loss) | 9901 | €30,839 | €31,154 | +€315 | +1.0% |
| Financial income | 75/76B | €3,059 | €1,763 | -€1,296 | -42.4% |
| Recurring financial income | 75 | €3,059 | €1,763 | -€1,296 | -42.4% |
| Financial charges | 65/66B | €2,022 | €3,113 | +€1,091 | +54.0% |
| Recurring financial charges | 65 | €2,022 | €3,113 | +€1,091 | +54.0% |
| Profit (loss) for the period before taxes | 9903 | €31,876 | €29,804 | -€2,072 | -6.5% |
| Income taxes | 67/77 | €10,330 | €9,636 | -€694 | -6.7% |
| Profit (loss) for the period | 9904 | €21,546 | €20,168 | -€1,378 | -6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €21,546 | €20,168 | -€1,378 | -6.4% |
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 15 October 2026 via checked.be.