HVP-C: 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.
HVP-C
Largest movements
- Cash +€25,389
up €25,389 (+94.5%), from €26,858 to €52,248
mainly Net result for the year (+€19,879) and Depreciation (+€16,575)
- Tangible fixed assets -€16,575
down €16,575 (-28.2%), from €58,716 to €42,141
- Reserves +€19,879
up €19,879 (+185%), from €10,750 to €30,629
- Trade debts -€13,298
down €13,298 (-19.8%), from €67,218 to €53,920
- Tax, wage and social debts +€3,140
up €3,140 (+31.7%), from €9,893 to €13,034
- Accrued charges and deferred income -€2,284
down €2,284 (-100%), from €2,284 to €0
- Gross operating margin +€22,184
up €22,184 (+101%), from €22,014 to €44,198
- Depreciation +€8,991
up €8,991 (+119%), from €7,584 to €16,575
- Taxes +€3,094
up €3,094 (+92.6%), from €3,343 to €6,436
- Other operating charges +€514
up €514 (+176%), from €293 to €807
- Financial charges +€455
up €455 (+1,011%), from €45 to €500
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 | €100,959 | €109,055 | +€8,096 | +8.0% |
| Fixed assets | 21/28 | €58,716 | €42,141 | -€16,575 | -28.2% |
| Tangible fixed assets | 22/27 | €58,716 | €42,141 | -€16,575 | -28.2% |
| Furniture and vehicles | 24 | €58,716 | €42,141 | -€16,575 | -28.2% |
| Current assets | 29/58 | €42,243 | €66,914 | +€24,671 | +58.4% |
| Amounts receivable within one year | 40/41 | €13,319 | €13,317 | -€1 | 0.0% |
| Trade receivables | 40 | €13,310 | €13,310 | = | 0.0% |
| Other amounts receivable | 41 | €9 | €7 | -€1 | -16.5% |
| Cash at bank and in hand | 54/58 | €26,858 | €52,248 | +€25,389 | +94.5% |
| Deferred charges and accrued income | 490/1 | €2,065 | €1,349 | -€717 | -34.7% |
| Total equity and liabilities | 10/49 | €100,959 | €109,055 | +€8,096 | +8.0% |
| Equity | 10/15 | €18,250 | €38,129 | +€19,879 | +109% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €10,750 | €30,629 | +€19,879 | +185% |
| Distributable reserves | 133 | €10,750 | €30,629 | +€19,879 | +185% |
| Amounts payable | 17/49 | €82,709 | €70,926 | -€11,783 | -14.2% |
| Amounts payable within one year | 42/48 | €80,425 | €70,926 | -€9,499 | -11.8% |
| Trade debts | 44 | €67,218 | €53,920 | -€13,298 | -19.8% |
| Suppliers | 440/4 | €67,218 | €53,920 | -€13,298 | -19.8% |
| Taxes, remuneration and social security | 45 | €9,893 | €13,034 | +€3,140 | +31.7% |
| Taxes | 450/3 | €9,893 | €13,034 | +€3,140 | +31.7% |
| Other amounts payable | 47/48 | €3,314 | €3,972 | +€658 | +19.9% |
| Accrued charges and deferred income | 492/3 | €2,284 | €0 | -€2,284 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,584 | €16,575 | +€8,991 | +119% |
| Other operating charges | 640/8 | €293 | €807 | +€514 | +176% |
| Gross operating margin | 9900 | €22,014 | €44,198 | +€22,184 | +101% |
| Operating profit (loss) | 9901 | €14,137 | €26,816 | +€12,679 | +89.7% |
| Financial charges | 65/66B | €45 | €500 | +€455 | +1,011% |
| Recurring financial charges | 65 | €45 | €500 | +€455 | +1,011% |
| Profit (loss) for the period before taxes | 9903 | €14,092 | €26,316 | +€12,223 | +86.7% |
| Income taxes | 67/77 | €3,343 | €6,436 | +€3,094 | +92.6% |
| Profit (loss) for the period | 9904 | €10,750 | €19,879 | +€9,129 | +84.9% |
| Profit (loss) for the period to be appropriated | 9905 | €10,750 | €19,879 | +€9,129 | +84.9% |
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 29 October 2026 via checked.be.