HVP Finances: 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 Finances
Largest movements
- Receivables within one year -€977,744
down €977,744 (-37.3%), from €2.6m to €1.6m
of which Other amounts receivable: -€1.1m
- Cash +€654,804
up €654,804 (+5,020%), from €13,045 to €667,849
- Reserves +€402,644
up €402,644 (+18,302%), from €2,200 to €404,844
of which Distributable reserves: +€402,644
- Profit (loss) carried forward -€386,414
down €386,414 (-100%), from €386,414 to €0
- Other debts -€309,295
down €309,295 (-14.1%), from €2.2m to €1.9m
- Tax, wage and social debts -€30,746
down €30,746 (-83.6%), from €36,788 to €6,043
- Financial income -€155,315
down €155,315 (-99.5%), from €156,069 to €754
- Gross operating margin +€55,205
up €55,205, from -€30,919 to €24,286
- Taxes -€15,776
down €15,776 (-72.1%), from €21,882 to €6,107
- Financial charges -€12,900
down €12,900 (-92.2%), from €13,995 to €1,096
- Other operating charges +€648
up €648 (+67.5%), from €960 to €1,608
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,635,124 | €2,312,184 | -€322,940 | -12.3% |
| Fixed assets | 21/28 | €1,880 | €1,880 | = | 0.0% |
| Financial fixed assets | 28 | €1,880 | €1,880 | = | 0.0% |
| Current assets | 29/58 | €2,633,244 | €2,310,304 | -€322,940 | -12.3% |
| Amounts receivable within one year | 40/41 | €2,620,199 | €1,642,455 | -€977,744 | -37.3% |
| Trade receivables | 40 | €15,251 | €177,000 | +€161,749 | +1,061% |
| Other amounts receivable | 41 | €2,604,948 | €1,465,455 | -€1.1m | -43.7% |
| Cash at bank and in hand | 54/58 | €13,045 | €667,849 | +€654,804 | +5,020% |
| Total equity and liabilities | 10/49 | €2,635,124 | €2,312,184 | -€322,940 | -12.3% |
| Equity | 10/15 | €407,164 | €423,394 | +€16,230 | +4.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €2,200 | €404,844 | +€402,644 | +18,302% |
| Non-distributable reserves | 130/1 | €2,200 | €2,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,200 | €2,200 | = | 0.0% |
| Distributable reserves | 133 | - | €402,644 | +€402,644 | |
| Profit (loss) carried forward | 14 | €386,414 | €0 | -€386,414 | -100% |
| Amounts payable | 17/49 | €2,227,960 | €1,888,790 | -€339,170 | -15.2% |
| Amounts payable within one year | 42/48 | €2,227,960 | €1,888,790 | -€339,170 | -15.2% |
| Trade debts | 44 | €802 | €1,674 | +€871 | +109% |
| Suppliers | 440/4 | €802 | €1,674 | +€871 | +109% |
| Taxes, remuneration and social security | 45 | €36,788 | €6,043 | -€30,746 | -83.6% |
| Taxes | 450/3 | €36,788 | €6,043 | -€30,746 | -83.6% |
| Other amounts payable | 47/48 | €2,190,369 | €1,881,073 | -€309,295 | -14.1% |
| Other operating charges | 640/8 | €960 | €1,608 | +€648 | +67.5% |
| Gross operating margin | 9900 | -€30,919 | €24,286 | +€55,205 | |
| Operating profit (loss) | 9901 | -€31,879 | €22,678 | +€54,558 | |
| Financial income | 75/76B | €156,069 | €754 | -€155,315 | -99.5% |
| Recurring financial income | 75 | €156,069 | €754 | -€155,315 | -99.5% |
| Financial charges | 65/66B | €13,995 | €1,096 | -€12,900 | -92.2% |
| Recurring financial charges | 65 | €13,995 | €1,096 | -€12,900 | -92.2% |
| Profit (loss) for the period before taxes | 9903 | €110,194 | €22,336 | -€87,858 | -79.7% |
| Income taxes | 67/77 | €21,882 | €6,107 | -€15,776 | -72.1% |
| Profit (loss) for the period | 9904 | €88,312 | €16,230 | -€72,082 | -81.6% |
| Profit (loss) for the period to be appropriated | 9905 | €88,312 | €16,230 | -€72,082 | -81.6% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.