HV-VISION: 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-VISION
Largest movements
- Cash +€17,324
up €17,324 (+50.2%), from €34,492 to €51,816
mainly Net result for the year (+€43,466) and Trade debts (+€5,203)
- Tangible fixed assets +€4,983
up €4,983 (+287%), from €1,737 to €6,720
- Deferred charges and accrued income +€4,245
up €4,245 (+266%), from €1,594 to €5,839
- Reserves +€43,466
up €43,466, from €0 to €43,466
- Other debts -€25,221
down €25,221 (-96.0%), from €26,272 to €1,051
- Trade debts +€5,203
up €5,203 (+2,648%), from €196 to €5,400
- Tax, wage and social debts +€3,010
up €3,010 (+35.6%), from €8,448 to €11,458
of which Taxes: +€3,010
- Gross operating margin +€34,296
up €34,296 (+133%), from €25,698 to €59,994
- Taxes +€7,044
up €7,044 (+143%), from €4,932 to €11,976
- Financial charges +€1,209
up €1,209 (+113%), from €1,067 to €2,276
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 | €37,917 | €64,374 | +€26,458 | +69.8% |
| Fixed assets | 21/28 | €1,737 | €6,720 | +€4,983 | +287% |
| Tangible fixed assets | 22/27 | €1,737 | €6,720 | +€4,983 | +287% |
| Furniture and vehicles | 24 | €1,737 | €6,720 | +€4,983 | +287% |
| Current assets | 29/58 | €36,180 | €57,655 | +€21,474 | +59.4% |
| Amounts receivable within one year | 40/41 | €94 | €0 | -€94 | -100% |
| Other amounts receivable | 41 | €94 | €0 | -€94 | -100% |
| Cash at bank and in hand | 54/58 | €34,492 | €51,816 | +€17,324 | +50.2% |
| Deferred charges and accrued income | 490/1 | €1,594 | €5,839 | +€4,245 | +266% |
| Total equity and liabilities | 10/49 | €37,917 | €64,374 | +€26,458 | +69.8% |
| Equity | 10/15 | €3,000 | €46,466 | +€43,466 | +1,449% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €0 | €43,466 | +€43,466 | |
| Distributable reserves | 133 | €0 | €43,466 | +€43,466 | |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €34,917 | €17,908 | -€17,008 | -48.7% |
| Amounts payable within one year | 42/48 | €34,917 | €17,908 | -€17,008 | -48.7% |
| Trade debts | 44 | €196 | €5,400 | +€5,203 | +2,648% |
| Suppliers | 440/4 | €196 | €5,400 | +€5,203 | +2,648% |
| Taxes, remuneration and social security | 45 | €8,448 | €11,458 | +€3,010 | +35.6% |
| Taxes | 450/3 | €8,448 | €11,458 | +€3,010 | +35.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €26,272 | €1,051 | -€25,221 | -96.0% |
| Remuneration, social security and pensions | 62 | €241 | €0 | -€241 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €678 | €1,159 | +€481 | +70.9% |
| Other operating charges | 640/8 | €896 | €1,116 | +€221 | +24.7% |
| Gross operating margin | 9900 | €25,698 | €59,994 | +€34,296 | +133% |
| Operating profit (loss) | 9901 | €23,883 | €57,718 | +€33,835 | +142% |
| Financial income | 75/76B | €103 | €0 | -€103 | -99.6% |
| Recurring financial income | 75 | €103 | €0 | -€103 | -99.6% |
| Financial charges | 65/66B | €1,067 | €2,276 | +€1,209 | +113% |
| Recurring financial charges | 65 | €1,067 | €2,276 | +€1,209 | +113% |
| Profit (loss) for the period before taxes | 9903 | €22,919 | €55,442 | +€32,523 | +142% |
| Income taxes | 67/77 | €4,932 | €11,976 | +€7,044 | +143% |
| Profit (loss) for the period | 9904 | €17,987 | €43,466 | +€25,479 | +142% |
| Profit (loss) for the period to be appropriated | 9905 | €17,987 | €43,466 | +€25,479 | +142% |
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 23 October 2026 via checked.be.