HVM CONSULTING: 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.
HVM CONSULTING
Largest movements
- Deferred charges and accrued income -€349,607
down €349,607 (-93.1%), from €375,716 to €26,109
- Receivables within one year +€86,151
up €86,151 (+491%), from €17,554 to €103,705
of which Trade receivables: +€95,262
- Cash +€67,474
up €67,474 (+14.2%), from €474,886 to €542,360
mainly Deferred charges and accrued income (+€349,607) and Trade debts (+€87,379)
- Tangible fixed assets -€11,747
down €11,747 (-30.3%), from €38,715 to €26,968
of which Furniture and vehicles: -€10,577
- Accrued charges and deferred income -€381,305
down €381,305 (-97.6%), from €390,516 to €9,211
- Trade debts +€87,379
up €87,379 (+8,651%), from €1,010 to €88,389
- Reserves +€80,022
up €80,022 (+29.5%), from €270,860 to €350,882
- Gross operating margin +€85,892
up €85,892 (+208%), from €41,214 to €127,106
- Taxes +€22,772
up €22,772 (+237%), from €9,599 to €32,371
- Financial income -€5,845
down €5,845 (-90.8%), from €6,434 to €589
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 | €906,871 | €699,142 | -€207,729 | -22.9% |
| Fixed assets | 21/28 | €38,715 | €26,968 | -€11,747 | -30.3% |
| Tangible fixed assets | 22/27 | €38,715 | €26,968 | -€11,747 | -30.3% |
| Plant, machinery and equipment | 23 | €4,061 | €2,891 | -€1,170 | -28.8% |
| Furniture and vehicles | 24 | €34,654 | €24,077 | -€10,577 | -30.5% |
| Current assets | 29/58 | €868,156 | €672,174 | -€195,982 | -22.6% |
| Amounts receivable within one year | 40/41 | €17,554 | €103,705 | +€86,151 | +491% |
| Trade receivables | 40 | €4,215 | €99,477 | +€95,262 | +2,260% |
| Other amounts receivable | 41 | €13,339 | €4,228 | -€9,111 | -68.3% |
| Cash at bank and in hand | 54/58 | €474,886 | €542,360 | +€67,474 | +14.2% |
| Deferred charges and accrued income | 490/1 | €375,716 | €26,109 | -€349,607 | -93.1% |
| Total equity and liabilities | 10/49 | €906,871 | €699,142 | -€207,729 | -22.9% |
| Equity | 10/15 | €513,124 | €593,146 | +€80,022 | +15.6% |
| Contributions | 10/11 | €123,400 | €123,400 | = | 0.0% |
| Reserves | 13 | €270,860 | €350,882 | +€80,022 | +29.5% |
| Distributable reserves | 133 | €270,860 | €350,882 | +€80,022 | +29.5% |
| Profit (loss) carried forward | 14 | €118,864 | €118,864 | = | 0.0% |
| Amounts payable | 17/49 | €393,747 | €105,996 | -€287,751 | -73.1% |
| Amounts payable within one year | 42/48 | €3,231 | €96,785 | +€93,554 | +2,896% |
| Trade debts | 44 | €1,010 | €88,389 | +€87,379 | +8,651% |
| Suppliers | 440/4 | €1,010 | €88,389 | +€87,379 | +8,651% |
| Taxes, remuneration and social security | 45 | - | €4,195 | +€4,195 | |
| Taxes | 450/3 | - | €4,195 | +€4,195 | |
| Other amounts payable | 47/48 | €2,221 | €4,201 | +€1,980 | +89.1% |
| Accrued charges and deferred income | 492/3 | €390,516 | €9,211 | -€381,305 | -97.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,413 | €11,747 | +€334 | +2.9% |
| Other operating charges | 640/8 | €1,504 | €1,526 | +€22 | +1.5% |
| Gross operating margin | 9900 | €41,214 | €127,106 | +€85,892 | +208% |
| Operating profit (loss) | 9901 | €28,297 | €113,833 | +€85,536 | +302% |
| Financial income | 75/76B | €6,434 | €589 | -€5,845 | -90.8% |
| Recurring financial income | 75 | €6,434 | €589 | -€5,845 | -90.8% |
| Financial charges | 65/66B | €2,450 | €2,029 | -€421 | -17.2% |
| Recurring financial charges | 65 | €2,450 | €2,029 | -€421 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €32,281 | €112,393 | +€80,112 | +248% |
| Income taxes | 67/77 | €9,599 | €32,371 | +€22,772 | +237% |
| Profit (loss) for the period | 9904 | €22,682 | €80,022 | +€57,340 | +253% |
| Profit (loss) for the period to be appropriated | 9905 | €22,682 | €80,022 | +€57,340 | +253% |
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 16 October 2026 via checked.be.