HVR VASTGOED: 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.
HVR VASTGOED
Largest movements
- Current investments +€865,023
up €865,023 (+63.4%), from €1.4m to €2.2m
- Cash -€676,737
down €676,737 (-78.6%), from €860,821 to €184,084
mainly Current investments (-€865,023) and Net result for the year (-€72,636)
- Other debts +€267,272
up €267,272 (+19.7%), from €1.4m to €1.6m
- Profit (loss) carried forward -€72,636
down €72,636, from €55,409 to -€17,227
- Gross operating margin -€250,189
down €250,189, from €245,602 to -€4,587
- Financial charges +€173,014
up €173,014, from -€4,181 to €168,834
- Financial income -€22,992
down €22,992 (-18.1%), from €126,808 to €103,815
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 | €2,332,497 | €2,526,046 | +€193,549 | +8.3% |
| Fixed assets | 21/28 | €89,437 | €88,425 | -€1,012 | -1.1% |
| Tangible fixed assets | 22/27 | €89,437 | €88,425 | -€1,012 | -1.1% |
| Land and buildings | 22 | €87,600 | €87,600 | = | 0.0% |
| Furniture and vehicles | 24 | €1,837 | €825 | -€1,012 | -55.1% |
| Current assets | 29/58 | €2,243,060 | €2,437,621 | +€194,561 | +8.7% |
| Amounts receivable within one year | 40/41 | €12,441 | €21,850 | +€9,410 | +75.6% |
| Trade receivables | 40 | €4,391 | €0 | -€4,391 | -100% |
| Other amounts receivable | 41 | €8,049 | €21,850 | +€13,801 | +171% |
| Current investments | 50/53 | €1,365,135 | €2,230,158 | +€865,023 | +63.4% |
| Cash at bank and in hand | 54/58 | €860,821 | €184,084 | -€676,737 | -78.6% |
| Deferred charges and accrued income | 490/1 | €4,663 | €1,530 | -€3,134 | -67.2% |
| Total equity and liabilities | 10/49 | €2,332,497 | €2,526,046 | +€193,549 | +8.3% |
| Equity | 10/15 | €976,112 | €903,477 | -€72,636 | -7.4% |
| Contributions | 10/11 | €920,704 | €920,704 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €55,409 | -€17,227 | -€72,636 | |
| Amounts payable | 17/49 | €1,356,385 | €1,622,569 | +€266,185 | +19.6% |
| Amounts payable within one year | 42/48 | €1,356,385 | €1,622,569 | +€266,185 | +19.6% |
| Trade debts | 44 | €1,087 | €0 | -€1,087 | -100% |
| Suppliers | 440/4 | €1,087 | €0 | -€1,087 | -100% |
| Other amounts payable | 47/48 | €1,355,297 | €1,622,569 | +€267,272 | +19.7% |
| Non-recurring operating income | 76A | €259,817 | €0 | -€259,817 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,013 | €1,012 | -€0 | 0.0% |
| Other operating charges | 640/8 | €2,443 | €2,018 | -€425 | -17.4% |
| Gross operating margin | 9900 | €245,602 | -€4,587 | -€250,189 | |
| Operating profit (loss) | 9901 | €242,146 | -€7,617 | -€249,764 | |
| Financial income | 75/76B | €126,808 | €103,815 | -€22,992 | -18.1% |
| Recurring financial income | 75 | €126,808 | €103,815 | -€22,992 | -18.1% |
| Financial charges | 65/66B | -€4,181 | €168,834 | +€173,014 | |
| Recurring financial charges | 65 | -€4,181 | €168,834 | +€173,014 | |
| Profit (loss) for the period before taxes | 9903 | €373,135 | -€72,636 | -€445,770 | |
| Profit (loss) for the period | 9904 | €373,135 | -€72,636 | -€445,770 | |
| Profit (loss) for the period to be appropriated | 9905 | €373,135 | -€72,636 | -€445,770 |
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 24 October 2026 via checked.be.