HVR CONSULT: 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.
HVR CONSULT
Largest movements
- Cash -€29,525
down €29,525 (-59.4%), from €49,726 to €20,201
mainly Other debts (-€49,258) and Contributions, distributions and other (-€10,000)
- Receivables within one year -€11,437
down €11,437 (-36.2%), from €31,567 to €20,130
of which Trade receivables: -€11,431
- Deferred charges and accrued income +€7,162
up €7,162 (+709.5%), from €1,009 to €8,171
- Tangible fixed assets -€1,508
down €1,508 (-70.3%), from €2,145 to €637
- Other debts -€49,258
down €49,258 (-80.8%), from €60,962 to €11,704
- Reserves +€14,569
up €14,569 (+494.2%), from €2,948 to €17,517
- Gross operating margin -€12,832
down €12,832 (-25.9%), from €49,631 to €36,799
- Taxes -€3,512
down €3,512 (-29.6%), from €11,868 to €8,355
- Other operating charges +€744
up €744 (+103.3%), from €720 to €1,463
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 | €84,448 | €49,140 | -€35,308 | -41.8% |
| Fixed assets | 21/28 | €2,145 | €637 | -€1,508 | -70.3% |
| Tangible fixed assets | 22/27 | €2,145 | €637 | -€1,508 | -70.3% |
| Furniture and vehicles | 24 | €2,145 | €637 | -€1,508 | -70.3% |
| Current assets | 29/58 | €82,303 | €48,503 | -€33,800 | -41.1% |
| Amounts receivable within one year | 40/41 | €31,567 | €20,130 | -€11,437 | -36.2% |
| Trade receivables | 40 | €28,435 | €17,004 | -€11,431 | -40.2% |
| Other amounts receivable | 41 | €3,132 | €3,127 | -€5 | -0.2% |
| Cash at bank and in hand | 54/58 | €49,726 | €20,201 | -€29,525 | -59.4% |
| Deferred charges and accrued income | 490/1 | €1,009 | €8,171 | +€7,162 | +709.5% |
| Total equity and liabilities | 10/49 | €84,448 | €49,140 | -€35,308 | -41.8% |
| Equity | 10/15 | €5,948 | €20,517 | +€14,569 | +244.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €2,948 | €17,517 | +€14,569 | +494.2% |
| Distributable reserves | 133 | €2,948 | €17,517 | +€14,569 | +494.2% |
| Amounts payable | 17/49 | €78,500 | €28,623 | -€49,877 | -63.5% |
| Amounts payable within one year | 42/48 | €78,482 | €28,623 | -€49,859 | -63.5% |
| Trade debts | 44 | €2,089 | €1,923 | -€166 | -7.9% |
| Suppliers | 440/4 | €2,089 | €1,923 | -€166 | -7.9% |
| Taxes, remuneration and social security | 45 | €15,431 | €14,996 | -€435 | -2.8% |
| Taxes | 450/3 | €15,431 | €14,996 | -€435 | -2.8% |
| Other amounts payable | 47/48 | €60,962 | €11,704 | -€49,258 | -80.8% |
| Accrued charges and deferred income | 492/3 | €18 | - | -€18 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,745 | €1,508 | -€237 | -13.6% |
| Other operating charges | 640/8 | €720 | €1,463 | +€744 | +103.3% |
| Gross operating margin | 9900 | €49,631 | €36,799 | -€12,832 | -25.9% |
| Operating profit (loss) | 9901 | €47,167 | €33,828 | -€13,339 | -28.3% |
| Financial income | 75/76B | €19 | €2 | -€17 | -90.0% |
| Recurring financial income | 75 | €19 | €2 | -€17 | -90.0% |
| Financial charges | 65/66B | €870 | €905 | +€35 | +4.0% |
| Recurring financial charges | 65 | €870 | €905 | +€35 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €46,315 | €32,925 | -€13,391 | -28.9% |
| Income taxes | 67/77 | €11,868 | €8,355 | -€3,512 | -29.6% |
| Profit (loss) for the period | 9904 | €34,448 | €24,569 | -€9,878 | -28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €34,448 | €24,569 | -€9,878 | -28.7% |
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 8 October 2026 via checked.be.