HVAC CONCEPTION: 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.
HVAC CONCEPTION
Largest movements
- Cash -€7,517
down €7,517 (-65.8%), from €11,418 to €3,901
mainly Net result for the year (-€26,392) and Tax, wage and social debts (-€6,220)
- Tangible fixed assets -€7,451
down €7,451 (-68.0%), from €10,951 to €3,500
of which Furniture and vehicles: -€7,251
- Receivables within one year -€7,122
down €7,122 (-26.2%), from €27,159 to €20,037
of which Trade receivables: -€14,850
- Deferred charges and accrued income +€511
up €511 (+205.4%), from €249 to €759
- Profit (loss) carried forward -€26,392
down €26,392 (-78.9%), from €33,456 to €7,064
- Trade debts +€11,483
up €11,483 (+2418.5%), from €475 to €11,958
- Tax, wage and social debts -€6,220
no longer reported in 2025 (was €6,220)
of which Taxes: -€3,220
- Gross operating margin -€31,365
down €31,365, from €13,248 to -€18,117
- Depreciation -€1,434
down €1,434 (-16.1%), from €8,885 to €7,451
- Taxes -€828
down €828 (-92.1%), from €900 to €72
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 | €49,957 | €28,378 | -€21,579 | -43.2% |
| Fixed assets | 21/28 | €11,131 | €3,680 | -€7,451 | -66.9% |
| Tangible fixed assets | 22/27 | €10,951 | €3,500 | -€7,451 | -68.0% |
| Plant, machinery and equipment | 23 | €201 | - | -€201 | |
| Furniture and vehicles | 24 | €10,751 | €3,500 | -€7,251 | -67.4% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €38,826 | €24,698 | -€14,128 | -36.4% |
| Amounts receivable within one year | 40/41 | €27,159 | €20,037 | -€7,122 | -26.2% |
| Trade receivables | 40 | €25,500 | €10,650 | -€14,850 | -58.2% |
| Other amounts receivable | 41 | €1,659 | €9,387 | +€7,728 | +465.8% |
| Cash at bank and in hand | 54/58 | €11,418 | €3,901 | -€7,517 | -65.8% |
| Deferred charges and accrued income | 490/1 | €249 | €759 | +€511 | +205.4% |
| Total equity and liabilities | 10/49 | €49,957 | €28,378 | -€21,579 | -43.2% |
| Equity | 10/15 | €41,516 | €15,124 | -€26,392 | -63.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,456 | €7,064 | -€26,392 | -78.9% |
| Amounts payable | 17/49 | €8,441 | €13,254 | +€4,813 | +57.0% |
| Amounts payable within one year | 42/48 | €8,441 | €13,254 | +€4,813 | +57.0% |
| Trade debts | 44 | €475 | €11,958 | +€11,483 | +2418.5% |
| Suppliers | 440/4 | €475 | €11,958 | +€11,483 | +2418.5% |
| Taxes, remuneration and social security | 45 | €6,220 | - | -€6,220 | |
| Taxes | 450/3 | €3,220 | - | -€3,220 | |
| Remuneration and social security | 454/9 | €3,000 | - | -€3,000 | |
| Other amounts payable | 47/48 | €1,746 | €1,296 | -€450 | -25.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,885 | €7,451 | -€1,434 | -16.1% |
| Other operating charges | 640/8 | €434 | €444 | +€10 | +2.2% |
| Gross operating margin | 9900 | €13,248 | -€18,117 | -€31,365 | |
| Operating profit (loss) | 9901 | €3,928 | -€26,012 | -€29,940 | |
| Financial income | 75/76B | €153 | - | -€153 | |
| Recurring financial income | 75 | €153 | - | -€153 | |
| Financial charges | 65/66B | €206 | €308 | +€102 | +49.5% |
| Recurring financial charges | 65 | €206 | €308 | +€102 | +49.5% |
| Profit (loss) for the period before taxes | 9903 | €3,875 | -€26,320 | -€30,195 | |
| Income taxes | 67/77 | €900 | €72 | -€828 | -92.1% |
| Profit (loss) for the period | 9904 | €2,975 | -€26,392 | -€29,367 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,975 | -€26,392 | -€29,367 |
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 8 October 2026 via checked.be.