HVANDERHENST: 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.
HVANDERHENST
Largest movements
- Receivables within one year +€512,189
up €512,189 (+389%), from €131,628 to €643,817
of which Other amounts receivable: +€512,178
- Cash +€264,326
up €264,326 (+150%), from €176,343 to €440,669
mainly Net result for the year (+€650,211) and Investment in fixed assets (net) (+€146,876)
- Tangible fixed assets -€226,054
down €226,054 (-31.2%), from €724,465 to €498,411
of which Land and buildings: -€173,134
- Reserves +€650,211
up €650,211 (+44.2%), from €1.5m to €2.1m
- Other debts -€80,498
down €80,498 (-100%), from €80,498 to €0
- Debts after one year -€52,751
down €52,751 (-21.0%), from €251,238 to €198,487
- Tax, wage and social debts +€50,750
up €50,750 (+137%), from €37,113 to €87,863
- Financial income +€683,713
up €683,713 (+309%), from €221,604 to €905,317
- Taxes +€62,712
up €62,712 (+301%), from €20,841 to €83,552
- Gross operating margin +€51,469
up €51,469 (+435%), from €11,843 to €63,313
- Depreciation +€51,091
up €51,091 (+182%), from €28,087 to €79,178
- Write-downs -€21,106
down €21,106, from €10,553 to -€10,553
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 | €2,275,909 | €2,844,508 | +€568,599 | +25.0% |
| Fixed assets | 21/28 | €1,243,369 | €1,017,315 | -€226,054 | -18.2% |
| Tangible fixed assets | 22/27 | €724,465 | €498,411 | -€226,054 | -31.2% |
| Land and buildings | 22 | €423,041 | €249,907 | -€173,134 | -40.9% |
| Plant, machinery and equipment | 23 | €1,361 | €4,757 | +€3,396 | +250% |
| Furniture and vehicles | 24 | €236,822 | €188,379 | -€48,443 | -20.5% |
| Other tangible fixed assets | 26 | €63,242 | €55,368 | -€7,873 | -12.4% |
| Financial fixed assets | 28 | €518,904 | €518,904 | = | 0.0% |
| Current assets | 29/58 | €1,032,540 | €1,827,193 | +€794,653 | +77.0% |
| Amounts receivable after more than one year | 29 | €700,000 | €700,000 | = | 0.0% |
| Other amounts receivable | 291 | €700,000 | €700,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €131,628 | €643,817 | +€512,189 | +389% |
| Trade receivables | 40 | €12,781 | €12,791 | +€11 | +0.1% |
| Other amounts receivable | 41 | €118,848 | €631,026 | +€512,178 | +431% |
| Cash at bank and in hand | 54/58 | €176,343 | €440,669 | +€264,326 | +150% |
| Deferred charges and accrued income | 490/1 | €24,569 | €42,707 | +€18,138 | +73.8% |
| Total equity and liabilities | 10/49 | €2,275,909 | €2,844,508 | +€568,599 | +25.0% |
| Equity | 10/15 | €1,840,370 | €2,490,582 | +€650,211 | +35.3% |
| Contributions | 10/11 | €369,650 | €369,650 | = | 0.0% |
| Reserves | 13 | €1,470,720 | €2,120,932 | +€650,211 | +44.2% |
| Distributable reserves | 133 | €1,470,720 | €2,120,932 | +€650,211 | +44.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €435,539 | €353,927 | -€81,612 | -18.7% |
| Amounts payable after more than one year | 17 | €251,238 | €198,487 | -€52,751 | -21.0% |
| Financial debts | 170/4 | €251,238 | €198,487 | -€52,751 | -21.0% |
| Amounts payable within one year | 42/48 | €183,173 | €152,892 | -€30,280 | -16.5% |
| Current portion of amounts payable after more than one year | 42 | €51,657 | €52,751 | +€1,094 | +2.1% |
| Trade debts | 44 | €13,905 | €12,278 | -€1,627 | -11.7% |
| Suppliers | 440/4 | €13,905 | €12,278 | -€1,627 | -11.7% |
| Taxes, remuneration and social security | 45 | €37,113 | €87,863 | +€50,750 | +137% |
| Taxes | 450/3 | €37,113 | €87,863 | +€50,750 | +137% |
| Other amounts payable | 47/48 | €80,498 | €0 | -€80,498 | -100% |
| Accrued charges and deferred income | 492/3 | €1,128 | €2,547 | +€1,420 | +126% |
| Non-recurring operating income | 76A | €42,864 | €0 | -€42,864 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,087 | €79,178 | +€51,091 | +182% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,553 | -€10,553 | -€21,106 | |
| Other operating charges | 640/8 | €11,805 | €7,823 | -€3,982 | -33.7% |
| Non-recurring operating charges | 66A | €5,528 | €152,646 | +€147,118 | +2,662% |
| Gross operating margin | 9900 | €11,843 | €63,313 | +€51,469 | +435% |
| Operating profit (loss) | 9901 | -€44,129 | -€165,781 | -€121,652 | -276% |
| Financial income | 75/76B | €221,604 | €905,317 | +€683,713 | +309% |
| Recurring financial income | 75 | €221,604 | €905,317 | +€683,713 | +309% |
| Financial charges | 65/66B | €4,226 | €5,773 | +€1,547 | +36.6% |
| Recurring financial charges | 65 | €4,226 | €5,773 | +€1,547 | +36.6% |
| Profit (loss) for the period before taxes | 9903 | €173,249 | €733,764 | +€560,515 | +324% |
| Income taxes | 67/77 | €20,841 | €83,552 | +€62,712 | +301% |
| Profit (loss) for the period | 9904 | €152,409 | €650,211 | +€497,803 | +327% |
| Profit (loss) for the period to be appropriated | 9905 | €152,409 | €650,211 | +€497,803 | +327% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.