HVV: 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.
HVV
Largest movements
- Receivables within one year -€29,525
down €29,525 (-76.9%), from €38,400 to €8,875
of which Trade receivables: -€19,974
- Cash +€9,578
up €9,578 (+29.8%), from €32,182 to €41,760
mainly Net result for the year (+€65,981) and Receivables within one year (+€29,525)
- Tangible fixed assets +€7,679
up €7,679 (+99.9%), from €7,685 to €15,364
of which Furniture and vehicles: +€5,993
- Deferred charges and accrued income -€4,842
down €4,842 (-100.0%), from €4,842 to €0
- Profit (loss) carried forward -€38,074
down €38,074 (-100.0%), from €38,074 to €0
- Other debts +€20,472
new in 2025: €20,472
- Tax, wage and social debts +€17,697
up €17,697 (+84.7%), from €20,893 to €38,590
of which Taxes: +€16,035
- Trade debts -€17,213
down €17,213 (-85.5%), from €20,134 to €2,921
- Short-term financial debts +€1,146
new in 2025: €1,146
- Gross operating margin +€82,250
up €82,250 (+83.1%), from €99,005 to €181,255
- Taxes +€19,771
up €19,771 (+1164.4%), from €1,698 to €21,469
- Staff costs -€3,528
down €3,528 (-3.9%), from €90,617 to €87,090
- Other operating charges -€2,386
down €2,386 (-83.1%), from €2,872 to €486
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 | €83,263 | €66,154 | -€17,110 | -20.5% |
| Fixed assets | 21/28 | €7,840 | €15,519 | +€7,679 | +98.0% |
| Tangible fixed assets | 22/27 | €7,685 | €15,364 | +€7,679 | +99.9% |
| Furniture and vehicles | 24 | €7,685 | €13,678 | +€5,993 | +78.0% |
| Other tangible fixed assets | 26 | - | €1,686 | +€1,686 | |
| Financial fixed assets | 28 | €155 | €155 | = | 0.0% |
| Current assets | 29/58 | €75,424 | €50,635 | -€24,789 | -32.9% |
| Amounts receivable within one year | 40/41 | €38,400 | €8,875 | -€29,525 | -76.9% |
| Trade receivables | 40 | €28,849 | €8,875 | -€19,974 | -69.2% |
| Other amounts receivable | 41 | €9,551 | €0 | -€9,551 | -100.0% |
| Cash at bank and in hand | 54/58 | €32,182 | €41,760 | +€9,578 | +29.8% |
| Deferred charges and accrued income | 490/1 | €4,842 | €0 | -€4,842 | -100.0% |
| Total equity and liabilities | 10/49 | €83,263 | €66,154 | -€17,110 | -20.5% |
| Equity | 10/15 | €41,074 | €3,000 | -€38,074 | -92.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,074 | €0 | -€38,074 | -100.0% |
| Amounts payable | 17/49 | €42,190 | €63,154 | +€20,964 | +49.7% |
| Amounts payable within one year | 42/48 | €41,028 | €63,129 | +€22,101 | +53.9% |
| Financial debts | 43 | - | €1,146 | +€1,146 | |
| Credit institutions | 430/8 | - | €1,146 | +€1,146 | |
| Trade debts | 44 | €20,134 | €2,921 | -€17,213 | -85.5% |
| Suppliers | 440/4 | €20,134 | €2,921 | -€17,213 | -85.5% |
| Taxes, remuneration and social security | 45 | €20,893 | €38,590 | +€17,697 | +84.7% |
| Taxes | 450/3 | €20,893 | €36,928 | +€16,035 | +76.7% |
| Remuneration and social security | 454/9 | - | €1,662 | +€1,662 | |
| Other amounts payable | 47/48 | - | €20,472 | +€20,472 | |
| Accrued charges and deferred income | 492/3 | €1,162 | €25 | -€1,137 | -97.8% |
| Remuneration, social security and pensions | 62 | €90,617 | €87,090 | -€3,528 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,870 | €2,697 | +€827 | +44.2% |
| Other operating charges | 640/8 | €2,872 | €486 | -€2,386 | -83.1% |
| Gross operating margin | 9900 | €99,005 | €181,255 | +€82,250 | +83.1% |
| Operating profit (loss) | 9901 | €3,646 | €90,982 | +€87,337 | +2395.7% |
| Financial income | 75/76B | €748 | €26 | -€722 | -96.5% |
| Recurring financial income | 75 | €748 | €26 | -€722 | -96.5% |
| Financial charges | 65/66B | €4,127 | €3,559 | -€568 | -13.8% |
| Recurring financial charges | 65 | €4,127 | €3,559 | -€568 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €267 | €87,450 | +€87,183 | +32677.2% |
| Income taxes | 67/77 | €1,698 | €21,469 | +€19,771 | +1164.4% |
| Profit (loss) for the period | 9904 | -€1,431 | €65,981 | +€67,412 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,431 | €65,981 | +€67,412 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.