HVM AUCTION: 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.
HVM AUCTION
Largest movements
- Cash +€32,710
up €32,710 (+144.3%), from €22,667 to €55,377
mainly Net result for the year (+€24,863) and Tax, wage and social debts (+€12,712)
- Receivables within one year +€4,837
up €4,837 (+10.5%), from €45,919 to €50,757
of which Other amounts receivable: +€13,236
- Profit (loss) carried forward +€19,301
no longer reported in 2025 (was -€19,301)
- Tax, wage and social debts +€12,712
up €12,712 (+850.3%), from €1,495 to €14,207
- Reserves +€5,562
up €5,562 (+7.1%), from €78,891 to €84,453
- Gross operating margin +€17,343
up €17,343 (+93.2%), from €18,616 to €35,958
- Staff costs -€10,078
down €10,078, from €9,960 to -€118
- Depreciation -€8,797
down €8,797 (-96.0%), from €9,165 to €368
- Taxes +€7,543
up €7,543 (+674.5%), from €1,118 to €8,662
- Other operating charges -€2,043
down €2,043 (-53.3%), from €3,835 to €1,793
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 | €69,445 | €106,657 | +€37,212 | +53.6% |
| Fixed assets | 21/28 | €618 | €250 | -€368 | -59.6% |
| Tangible fixed assets | 22/27 | €368 | - | -€368 | |
| Furniture and vehicles | 24 | €368 | - | -€368 | |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €68,827 | €106,407 | +€37,580 | +54.6% |
| Amounts receivable within one year | 40/41 | €45,919 | €50,757 | +€4,837 | +10.5% |
| Trade receivables | 40 | €8,399 | - | -€8,399 | |
| Other amounts receivable | 41 | €37,520 | €50,757 | +€13,236 | +35.3% |
| Cash at bank and in hand | 54/58 | €22,667 | €55,377 | +€32,710 | +144.3% |
| Deferred charges and accrued income | 490/1 | €241 | €273 | +€33 | +13.5% |
| Total equity and liabilities | 10/49 | €69,445 | €106,657 | +€37,212 | +53.6% |
| Equity | 10/15 | €59,640 | €84,503 | +€24,863 | +41.7% |
| Contributions | 10/11 | €50 | €50 | = | 0.0% |
| Reserves | 13 | €78,891 | €84,453 | +€5,562 | +7.1% |
| Distributable reserves | 133 | €78,891 | €84,453 | +€5,562 | +7.1% |
| Profit (loss) carried forward | 14 | -€19,301 | - | +€19,301 | |
| Amounts payable | 17/49 | €9,804 | €22,153 | +€12,349 | +126.0% |
| Amounts payable within one year | 42/48 | €9,804 | €22,153 | +€12,349 | +126.0% |
| Trade debts | 44 | €8,309 | €7,946 | -€363 | -4.4% |
| Suppliers | 440/4 | €8,309 | €7,946 | -€363 | -4.4% |
| Taxes, remuneration and social security | 45 | €1,495 | €14,207 | +€12,712 | +850.3% |
| Taxes | 450/3 | €1,495 | €14,207 | +€12,712 | +850.3% |
| Remuneration, social security and pensions | 62 | €9,960 | -€118 | -€10,078 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,165 | €368 | -€8,797 | -96.0% |
| Other operating charges | 640/8 | €3,835 | €1,793 | -€2,043 | -53.3% |
| Gross operating margin | 9900 | €18,616 | €35,958 | +€17,343 | +93.2% |
| Operating profit (loss) | 9901 | -€4,345 | €33,915 | +€38,260 | |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €929 | €391 | -€539 | -58.0% |
| Recurring financial charges | 65 | €929 | €391 | -€539 | -58.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,273 | €33,524 | +€38,797 | |
| Income taxes | 67/77 | €1,118 | €8,662 | +€7,543 | +674.5% |
| Profit (loss) for the period | 9904 | -€6,391 | €24,863 | +€31,254 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,391 | €24,863 | +€31,254 |
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 3 October 2026 via checked.be.