HvanA: 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.
HvanA
Largest movements
- Cash +€130,359
up €130,359 (+48.0%), from €271,705 to €402,064
mainly Other debts (+€161,287) and Net result for the year (+€159,040)
- Deferred charges and accrued income +€13,399
up €13,399 (+1107.0%), from €1,210 to €14,610
- Receivables within one year +€6,595
up €6,595 (+14.1%), from €46,888 to €53,482
of which Trade receivables: +€6,595
- Other debts +€161,287
up €161,287 (+5856.5%), from €2,754 to €164,041
- Tax, wage and social debts -€15,679
down €15,679 (-52.5%), from €29,865 to €14,186
of which Taxes: -€13,618
- Gross operating margin +€15,382
up €15,382 (+7.8%), from €197,655 to €213,037
- Taxes -€9,467
down €9,467 (-16.8%), from €56,221 to €46,754
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 | €330,907 | €476,620 | +€145,713 | +44.0% |
| Fixed assets | 21/28 | €11,104 | €6,464 | -€4,640 | -41.8% |
| Tangible fixed assets | 22/27 | €11,104 | €6,464 | -€4,640 | -41.8% |
| Furniture and vehicles | 24 | €11,104 | €6,464 | -€4,640 | -41.8% |
| Current assets | 29/58 | €319,803 | €470,156 | +€150,353 | +47.0% |
| Amounts receivable within one year | 40/41 | €46,888 | €53,482 | +€6,595 | +14.1% |
| Trade receivables | 40 | €46,888 | €53,482 | +€6,595 | +14.1% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €271,705 | €402,064 | +€130,359 | +48.0% |
| Deferred charges and accrued income | 490/1 | €1,210 | €14,610 | +€13,399 | +1107.0% |
| Total equity and liabilities | 10/49 | €330,907 | €476,620 | +€145,713 | +44.0% |
| Equity | 10/15 | €296,672 | €296,672 | = | 0.0% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €289,172 | €289,172 | = | 0.0% |
| Distributable reserves | 133 | €289,172 | €289,172 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €34,236 | €179,948 | +€145,713 | +425.6% |
| Amounts payable within one year | 42/48 | €34,236 | €179,948 | +€145,713 | +425.6% |
| Trade debts | 44 | €1,617 | €1,721 | +€105 | +6.5% |
| Suppliers | 440/4 | €1,617 | €1,721 | +€105 | +6.5% |
| Taxes, remuneration and social security | 45 | €29,865 | €14,186 | -€15,679 | -52.5% |
| Taxes | 450/3 | €27,804 | €14,186 | -€13,618 | -49.0% |
| Remuneration and social security | 454/9 | €2,061 | €0 | -€2,061 | -100.0% |
| Other amounts payable | 47/48 | €2,754 | €164,041 | +€161,287 | +5856.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,435 | €6,521 | +€87 | +1.4% |
| Other operating charges | 640/8 | €687 | €651 | -€36 | -5.2% |
| Non-recurring operating charges | 66A | €272 | €0 | -€272 | -100.0% |
| Gross operating margin | 9900 | €197,655 | €213,037 | +€15,382 | +7.8% |
| Operating profit (loss) | 9901 | €190,262 | €205,865 | +€15,603 | +8.2% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €78 | €70 | -€7 | -9.2% |
| Recurring financial charges | 65 | €78 | €70 | -€7 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €190,184 | €205,794 | +€15,610 | +8.2% |
| Income taxes | 67/77 | €56,221 | €46,754 | -€9,467 | -16.8% |
| Profit (loss) for the period | 9904 | €133,963 | €159,040 | +€25,077 | +18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €133,963 | €159,040 | +€25,077 | +18.7% |
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.