HVNH: 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.
HVNH
Largest movements
- Cash +€1,328
up €1,328 (+7.8%), from €17,126 to €18,454
mainly Depreciation (+€6,006) and Other debts (+€5,937)
- Other debts +€5,937
up €5,937 (+37.6%), from €15,780 to €21,717
- Tax, wage and social debts -€5,807
down €5,807 (-66.1%), from €8,781 to €2,974
of which Remuneration and social security: -€8,781
- Trade debts +€933
up €933 (+90.4%), from €1,032 to €1,965
- Gross operating margin -€31,534
down €31,534 (-83.1%), from €37,949 to €6,415
- Taxes -€7,975
down €7,975, from €7,950 to -€25
- Depreciation +€5,006
up €5,006 (+500.5%), from €1,000 to €6,006
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 | €54,458 | €55,677 | +€1,218 | +2.2% |
| Fixed assets | 21/28 | €16,587 | €16,829 | +€243 | +1.5% |
| Tangible fixed assets | 22/27 | €16,587 | €16,829 | +€243 | +1.5% |
| Plant, machinery and equipment | 23 | €6,855 | €4,570 | -€2,285 | -33.3% |
| Furniture and vehicles | 24 | €9,732 | €11,359 | +€1,627 | +16.7% |
| Other tangible fixed assets | 26 | - | €900 | +€900 | |
| Current assets | 29/58 | €37,872 | €38,847 | +€976 | +2.6% |
| Amounts receivable within one year | 40/41 | €20,745 | €20,393 | -€352 | -1.7% |
| Trade receivables | 40 | €20,745 | €20,393 | -€352 | -1.7% |
| Cash at bank and in hand | 54/58 | €17,126 | €18,454 | +€1,328 | +7.8% |
| Total equity and liabilities | 10/49 | €54,458 | €55,677 | +€1,218 | +2.2% |
| Equity | 10/15 | €28,866 | €29,020 | +€154 | +0.5% |
| Profit (loss) carried forward | 14 | €28,866 | €29,020 | +€154 | +0.5% |
| Amounts payable | 17/49 | €25,593 | €26,657 | +€1,064 | +4.2% |
| Amounts payable within one year | 42/48 | €25,593 | €26,657 | +€1,064 | +4.2% |
| Trade debts | 44 | €1,032 | €1,965 | +€933 | +90.4% |
| Suppliers | 440/4 | €1,032 | €1,965 | +€933 | +90.4% |
| Taxes, remuneration and social security | 45 | €8,781 | €2,974 | -€5,807 | -66.1% |
| Taxes | 450/3 | - | €2,974 | +€2,974 | |
| Remuneration and social security | 454/9 | €8,781 | - | -€8,781 | |
| Other amounts payable | 47/48 | €15,780 | €21,717 | +€5,937 | +37.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,000 | €6,006 | +€5,006 | +500.5% |
| Other operating charges | 640/8 | €122 | €126 | +€4 | +3.3% |
| Gross operating margin | 9900 | €37,949 | €6,415 | -€31,534 | -83.1% |
| Operating profit (loss) | 9901 | €36,827 | €283 | -€36,544 | -99.2% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €11 | €156 | +€145 | +1319.4% |
| Recurring financial charges | 65 | €11 | €156 | +€145 | +1319.4% |
| Profit (loss) for the period before taxes | 9903 | €36,816 | €130 | -€36,686 | -99.6% |
| Income taxes | 67/77 | €7,950 | -€25 | -€7,975 | |
| Profit (loss) for the period | 9904 | €28,866 | €154 | -€28,711 | -99.5% |
| Profit (loss) for the period to be appropriated | 9905 | €28,866 | €154 | -€28,711 | -99.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.