HVE PROPERTY: 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.
HVE PROPERTY
Largest movements
- Tangible fixed assets -€122,218
down €122,218 (-5.1%), from €2.4m to €2.3m
- Profit (loss) carried forward -€91,960
down €91,960 (-14.3%), from -€643,541 to -€735,501
- Other debts -€49,470
down €49,470 (-7.9%), from €628,176 to €578,706
- Gross operating margin -€55,308
down €55,308 (-60.3%), from €91,748 to €36,439
- Depreciation +€2,420
up €2,420 (+2.0%), from €119,798 to €122,218
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 | €2,459,450 | €2,318,311 | -€141,139 | -5.7% |
| Fixed assets | 21/28 | €2,401,385 | €2,279,167 | -€122,218 | -5.1% |
| Tangible fixed assets | 22/27 | €2,401,385 | €2,279,167 | -€122,218 | -5.1% |
| Land and buildings | 22 | €2,401,385 | €2,279,167 | -€122,218 | -5.1% |
| Current assets | 29/58 | €58,065 | €39,144 | -€18,921 | -32.6% |
| Amounts receivable within one year | 40/41 | €419 | €705 | +€286 | +68.2% |
| Other amounts receivable | 41 | €419 | €705 | +€286 | +68.2% |
| Current investments | 50/53 | €12,933 | €12,933 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €44,712 | €25,505 | -€19,207 | -43.0% |
| Total equity and liabilities | 10/49 | €2,459,450 | €2,318,311 | -€141,139 | -5.7% |
| Equity | 10/15 | €1,831,274 | €1,739,315 | -€91,960 | -5.0% |
| Contributions | 10/11 | €2,474,816 | €2,474,816 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€643,541 | -€735,501 | -€91,960 | -14.3% |
| Amounts payable | 17/49 | €628,176 | €578,996 | -€49,180 | -7.8% |
| Amounts payable within one year | 42/48 | €628,176 | €578,996 | -€49,180 | -7.8% |
| Trade debts | 44 | €0 | €290 | +€290 | |
| Suppliers | 440/4 | €0 | €290 | +€290 | |
| Other amounts payable | 47/48 | €628,176 | €578,706 | -€49,470 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €119,798 | €122,218 | +€2,420 | +2.0% |
| Other operating charges | 640/8 | €7,131 | €7,044 | -€87 | -1.2% |
| Gross operating margin | 9900 | €91,748 | €36,439 | -€55,308 | -60.3% |
| Operating profit (loss) | 9901 | -€35,181 | -€92,823 | -€57,642 | -164% |
| Financial income | 75/76B | €1,398 | €1,073 | -€324 | -23.2% |
| Recurring financial income | 75 | €1,398 | €1,073 | -€324 | -23.2% |
| Financial charges | 65/66B | €391 | €211 | -€181 | -46.2% |
| Recurring financial charges | 65 | €391 | €211 | -€181 | -46.2% |
| Profit (loss) for the period before taxes | 9903 | -€34,174 | -€91,960 | -€57,786 | -169% |
| Income taxes | 67/77 | -€93 | €0 | +€93 | |
| Profit (loss) for the period | 9904 | -€34,081 | -€91,960 | -€57,879 | -170% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,081 | -€91,960 | -€57,879 | -170% |
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 22 October 2026 via checked.be.