HVDS Management & Consultancy: what changed
HVDS Management & Consultancy
Largest movements
- Cash +€67,078
up €67,078 (+106%), from €63,161 to €130,239
mainly Net result for the year (+€61,538) and Depreciation (+€11,165)
- Tangible fixed assets -€11,165
down €11,165 (-29.8%), from €37,436 to €26,271
- Current investments +€3,516
up €3,516 (+11.5%), from €30,668 to €34,184
- Reserves +€61,538
up €61,538 (+44.9%), from €136,989 to €198,526
- Debts after one year -€7,700
down €7,700 (-70.2%), from €10,964 to €3,264
- Other debts +€4,623
up €4,623 (+111%), from €4,165 to €8,788
- Financial income +€3,529
up €3,529 (+17,642,700%), from €0 to €3,529
of which Non-recurring financial income: +€3,516
- Gross operating margin +€2,490
up €2,490 (+3.0%), from €84,228 to €86,718
- Taxes +€1,127
up €1,127 (+7.3%), from €15,495 to €16,622
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €163,292 | €222,425 | +€59,132 | +36.2% |
| Fixed assets | 21/28 | €37,436 | €26,271 | -€11,165 | -29.8% |
| Tangible fixed assets | 22/27 | €37,436 | €26,271 | -€11,165 | -29.8% |
| Furniture and vehicles | 24 | €37,436 | €26,271 | -€11,165 | -29.8% |
| Current assets | 29/58 | €125,856 | €196,153 | +€70,298 | +55.9% |
| Amounts receivable within one year | 40/41 | €31,227 | €31,730 | +€503 | +1.6% |
| Trade receivables | 40 | €28,430 | €27,873 | -€556 | -2.0% |
| Other amounts receivable | 41 | €2,798 | €3,857 | +€1,059 | +37.9% |
| Current investments | 50/53 | €30,668 | €34,184 | +€3,516 | +11.5% |
| Cash at bank and in hand | 54/58 | €63,161 | €130,239 | +€67,078 | +106% |
| Deferred charges and accrued income | 490/1 | €799 | - | -€799 | |
| Total equity and liabilities | 10/49 | €163,292 | €222,425 | +€59,132 | +36.2% |
| Equity | 10/15 | €139,989 | €201,526 | +€61,538 | +44.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €136,989 | €198,526 | +€61,538 | +44.9% |
| Distributable reserves | 133 | €136,989 | €198,526 | +€61,538 | +44.9% |
| Amounts payable | 17/49 | €23,304 | €20,898 | -€2,405 | -10.3% |
| Amounts payable after more than one year | 17 | €10,964 | €3,264 | -€7,700 | -70.2% |
| Financial debts | 170/4 | €10,964 | €3,264 | -€7,700 | -70.2% |
| Amounts payable within one year | 42/48 | €12,340 | €17,634 | +€5,294 | +42.9% |
| Current portion of amounts payable after more than one year | 42 | €7,513 | €7,700 | +€187 | +2.5% |
| Trade debts | 44 | €148 | €631 | +€484 | +328% |
| Suppliers | 440/4 | €148 | €631 | +€484 | +328% |
| Taxes, remuneration and social security | 45 | €515 | €515 | = | 0.0% |
| Taxes | 450/3 | €515 | €515 | = | 0.0% |
| Other amounts payable | 47/48 | €4,165 | €8,788 | +€4,623 | +111% |
| Non-recurring operating income | 76A | €3,227 | - | -€3,227 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,165 | €11,165 | = | 0.0% |
| Other operating charges | 640/8 | €120 | €412 | +€292 | +244% |
| Gross operating margin | 9900 | €84,228 | €86,718 | +€2,490 | +3.0% |
| Operating profit (loss) | 9901 | €72,943 | €75,140 | +€2,197 | +3.0% |
| Financial income | 75/76B | €0 | €3,529 | +€3,529 | +17,642,700% |
| Recurring financial income | 75 | €0 | €13 | +€12 | +62,450% |
| Non-recurring financial income | 76B | - | €3,516 | +€3,516 | |
| Financial charges | 65/66B | €704 | €509 | -€196 | -27.8% |
| Recurring financial charges | 65 | €704 | €509 | -€196 | -27.8% |
| Profit (loss) for the period before taxes | 9903 | €72,239 | €78,160 | +€5,921 | +8.2% |
| Income taxes | 67/77 | €15,495 | €16,622 | +€1,127 | +7.3% |
| Profit (loss) for the period | 9904 | €56,744 | €61,538 | +€4,794 | +8.4% |
| Profit (loss) for the period to be appropriated | 9905 | €56,744 | €61,538 | +€4,794 | +8.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.