HV-TECH: 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-TECH
Largest movements
- Stocks and contracts -€2,905
down €2,905 (-45.3%), from €6,411 to €3,506
- Receivables within one year +€1,767
up €1,767 (+14.5%), from €12,172 to €13,939
of which Trade receivables: +€1,937
- Cash +€1,744
up €1,744 (+39.0%), from €4,472 to €6,216
mainly Stocks and contracts (+€2,905) and Trade debts (+€2,081)
- Tax, wage and social debts -€3,697
down €3,697 (-51.7%), from €7,145 to €3,448
- Trade debts +€2,081
up €2,081 (+1580.0%), from €132 to €2,213
- Profit (loss) carried forward +€1,920
up €1,920 (+12.5%), from €15,419 to €17,340
- Gross operating margin -€13,059
down €13,059 (-49.2%), from €26,548 to €13,489
- Write-downs +€8,135
new in 2025: €8,135
- Taxes -€4,368
down €4,368 (-73.4%), from €5,948 to €1,580
- Financial charges -€434
down €434 (-82.1%), from €528 to €94
- Other operating charges -€342
down €342 (-26.3%), from €1,301 to €959
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 | €25,783 | €26,333 | +€550 | +2.1% |
| Fixed assets | 21/28 | €2,728 | €2,672 | -€57 | -2.1% |
| Tangible fixed assets | 22/27 | €2,728 | €2,672 | -€57 | -2.1% |
| Plant, machinery and equipment | 23 | €1,420 | €1,043 | -€378 | -26.6% |
| Furniture and vehicles | 24 | €1,308 | €1,629 | +€321 | +24.5% |
| Current assets | 29/58 | €23,055 | €23,662 | +€607 | +2.6% |
| Stocks and contracts in progress | 3 | €6,411 | €3,506 | -€2,905 | -45.3% |
| Stocks | 30/36 | €6,411 | €3,506 | -€2,905 | -45.3% |
| Amounts receivable within one year | 40/41 | €12,172 | €13,939 | +€1,767 | +14.5% |
| Trade receivables | 40 | €3,377 | €5,314 | +€1,937 | +57.4% |
| Other amounts receivable | 41 | €8,795 | €8,625 | -€170 | -1.9% |
| Cash at bank and in hand | 54/58 | €4,472 | €6,216 | +€1,744 | +39.0% |
| Total equity and liabilities | 10/49 | €25,783 | €26,333 | +€550 | +2.1% |
| Equity | 10/15 | €18,419 | €20,340 | +€1,920 | +10.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,419 | €17,340 | +€1,920 | +12.5% |
| Amounts payable | 17/49 | €7,364 | €5,993 | -€1,370 | -18.6% |
| Amounts payable within one year | 42/48 | €7,364 | €5,993 | -€1,370 | -18.6% |
| Financial debts | 43 | €87 | €332 | +€245 | +281.9% |
| Credit institutions | 430/8 | €87 | €332 | +€245 | +281.9% |
| Trade debts | 44 | €132 | €2,213 | +€2,081 | +1580.0% |
| Suppliers | 440/4 | €132 | €2,213 | +€2,081 | +1580.0% |
| Taxes, remuneration and social security | 45 | €7,145 | €3,448 | -€3,697 | -51.7% |
| Taxes | 450/3 | €7,145 | €3,448 | -€3,697 | -51.7% |
| Remuneration, social security and pensions | 62 | €193 | - | -€193 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €517 | €800 | +€283 | +54.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €8,135 | +€8,135 | |
| Other operating charges | 640/8 | €1,301 | €959 | -€342 | -26.3% |
| Gross operating margin | 9900 | €26,548 | €13,489 | -€13,059 | -49.2% |
| Operating profit (loss) | 9901 | €24,537 | €3,595 | -€20,942 | -85.3% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €528 | €94 | -€434 | -82.1% |
| Recurring financial charges | 65 | €528 | €94 | -€434 | -82.1% |
| Profit (loss) for the period before taxes | 9903 | €24,009 | €3,501 | -€20,508 | -85.4% |
| Income taxes | 67/77 | €5,948 | €1,580 | -€4,368 | -73.4% |
| Profit (loss) for the period | 9904 | €18,061 | €1,920 | -€16,140 | -89.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,061 | €1,920 | -€16,140 | -89.4% |
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 10 October 2026 via checked.be.