HVAC PROJ: 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.
HVAC PROJ
Largest movements
- Receivables within one year -€3,586
down €3,586 (-4.7%), from €76,502 to €72,916
of which Trade receivables: -€8,517
- Cash +€3,400
up €3,400 (+3,933%), from €86 to €3,487
mainly Trade debts (+€10,535) and Receivables within one year (+€3,586)
- Trade debts +€10,535
up €10,535 (+98.6%), from €10,680 to €21,214
- Tax, wage and social debts -€8,422
down €8,422 (-49.4%), from €17,063 to €8,641
- Profit (loss) carried forward -€2,258
down €2,258 (-4.7%), from €47,756 to €45,498
- Gross operating margin -€3,008
down €3,008 (-36.0%), from €8,354 to €5,346
- Taxes +€2,313
up €2,313 (+56.8%), from €4,072 to €6,385
- Other operating charges +€723
up €723 (+95.6%), from €756 to €1,479
- Financial income -€246
down €246 (-41.5%), from €594 to €348
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 | €77,499 | €77,354 | -€145 | -0.2% |
| Current assets | 29/58 | €77,499 | €77,354 | -€145 | -0.2% |
| Amounts receivable within one year | 40/41 | €76,502 | €72,916 | -€3,586 | -4.7% |
| Trade receivables | 40 | €61,313 | €52,796 | -€8,517 | -13.9% |
| Other amounts receivable | 41 | €15,189 | €20,120 | +€4,931 | +32.5% |
| Cash at bank and in hand | 54/58 | €86 | €3,487 | +€3,400 | +3,933% |
| Deferred charges and accrued income | 490/1 | €911 | €951 | +€40 | +4.4% |
| Total equity and liabilities | 10/49 | €77,499 | €77,354 | -€145 | -0.2% |
| Equity | 10/15 | €49,756 | €47,498 | -€2,258 | -4.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,756 | €45,498 | -€2,258 | -4.7% |
| Amounts payable | 17/49 | €27,743 | €29,855 | +€2,112 | +7.6% |
| Amounts payable within one year | 42/48 | €27,743 | €29,855 | +€2,112 | +7.6% |
| Trade debts | 44 | €10,680 | €21,214 | +€10,535 | +98.6% |
| Suppliers | 440/4 | €10,680 | €21,214 | +€10,535 | +98.6% |
| Taxes, remuneration and social security | 45 | €17,063 | €8,641 | -€8,422 | -49.4% |
| Taxes | 450/3 | €17,063 | €8,641 | -€8,422 | -49.4% |
| Other operating charges | 640/8 | €756 | €1,479 | +€723 | +95.6% |
| Gross operating margin | 9900 | €8,354 | €5,346 | -€3,008 | -36.0% |
| Operating profit (loss) | 9901 | €7,598 | €3,867 | -€3,731 | -49.1% |
| Financial income | 75/76B | €594 | €348 | -€246 | -41.5% |
| Recurring financial income | 75 | €594 | €348 | -€246 | -41.5% |
| Financial charges | 65/66B | €74 | €87 | +€13 | +17.0% |
| Recurring financial charges | 65 | €74 | €87 | +€13 | +17.0% |
| Profit (loss) for the period before taxes | 9903 | €8,117 | €4,128 | -€3,990 | -49.1% |
| Income taxes | 67/77 | €4,072 | €6,385 | +€2,313 | +56.8% |
| Profit (loss) for the period | 9904 | €4,045 | -€2,258 | -€6,303 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,045 | -€2,258 | -€6,303 |
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 19 October 2026 via checked.be.