HVdB CONCEPTS: 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.
HVdB CONCEPTS
Largest movements
- Cash +€22,029
up €22,029 (+486.4%), from €4,529 to €26,558
mainly Net result for the year (+€19,732) and Other debts (+€15,980)
- Receivables within one year +€1,249
up €1,249 (+30.5%), from €4,097 to €5,345
- Deferred charges and accrued income -€865
down €865 (-67.4%), from €1,283 to €418
- Tangible fixed assets -€411
no longer reported in 2025 (was €411)
- Other debts +€15,980
up €15,980 (+402.4%), from €3,971 to €19,951
- Tax, wage and social debts +€6,207
up €6,207 (+232.0%), from €2,675 to €8,882
- Gross operating margin +€20,151
up €20,151 (+311.4%), from €6,471 to €26,622
- Taxes +€5,237
up €5,237 (+1093.6%), from €479 to €5,716
- Other operating charges -€513
down €513 (-44.7%), from €1,146 to €634
- Depreciation -€470
down €470 (-53.4%), from €881 to €411
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 | €10,320 | €32,322 | +€22,002 | +213.2% |
| Fixed assets | 21/28 | €411 | - | -€411 | |
| Tangible fixed assets | 22/27 | €411 | - | -€411 | |
| Plant, machinery and equipment | 23 | €411 | - | -€411 | |
| Current assets | 29/58 | €9,909 | €32,322 | +€22,413 | +226.2% |
| Amounts receivable within one year | 40/41 | €4,097 | €5,345 | +€1,249 | +30.5% |
| Trade receivables | 40 | €4,097 | €5,345 | +€1,249 | +30.5% |
| Cash at bank and in hand | 54/58 | €4,529 | €26,558 | +€22,029 | +486.4% |
| Deferred charges and accrued income | 490/1 | €1,283 | €418 | -€865 | -67.4% |
| Total equity and liabilities | 10/49 | €10,320 | €32,322 | +€22,002 | +213.2% |
| Equity | 10/15 | €2,818 | €2,500 | -€318 | -11.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €318 | - | -€318 | |
| Distributable reserves | 133 | €318 | - | -€318 | |
| Amounts payable | 17/49 | €7,502 | €29,822 | +€22,320 | +297.5% |
| Amounts payable within one year | 42/48 | €7,502 | €29,822 | +€22,320 | +297.5% |
| Trade debts | 44 | €856 | €989 | +€133 | +15.5% |
| Suppliers | 440/4 | €856 | €989 | +€133 | +15.5% |
| Taxes, remuneration and social security | 45 | €2,675 | €8,882 | +€6,207 | +232.0% |
| Taxes | 450/3 | €2,675 | €8,882 | +€6,207 | +232.0% |
| Other amounts payable | 47/48 | €3,971 | €19,951 | +€15,980 | +402.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €881 | €411 | -€470 | -53.4% |
| Other operating charges | 640/8 | €1,146 | €634 | -€513 | -44.7% |
| Gross operating margin | 9900 | €6,471 | €26,622 | +€20,151 | +311.4% |
| Operating profit (loss) | 9901 | €4,444 | €25,577 | +€21,134 | +475.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €149 | €129 | -€19 | -13.1% |
| Recurring financial charges | 65 | €149 | €129 | -€19 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €4,295 | €25,448 | +€21,153 | +492.5% |
| Income taxes | 67/77 | €479 | €5,716 | +€5,237 | +1093.6% |
| Profit (loss) for the period | 9904 | €3,816 | €19,732 | +€15,916 | +417.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,816 | €19,732 | +€15,916 | +417.1% |
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.