HVV: 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.
HVV
Largest movements
- Receivables within one year -€38,300
down €38,300 (-38.8%), from €98,800 to €60,500
of which Trade receivables: -€36,300
- Cash +€6,112
up €6,112 (+137.2%), from €4,456 to €10,568
mainly Receivables within one year (+€38,300) and Other debts (+€20,360)
- Tangible fixed assets -€1,219
down €1,219 (-45.2%), from €2,695 to €1,476
of which Furniture and vehicles: -€947
- Profit (loss) carried forward -€40,876
down €40,876 (-6624.7%), from -€617 to -€41,493
- Other debts +€20,360
up €20,360 (+29.3%), from €69,579 to €89,938
- Tax, wage and social debts -€11,787
down €11,787 (-89.5%), from €13,177 to €1,390
- Trade debts -€1,104
down €1,104 (-21.0%), from €5,262 to €4,159
- Gross operating margin -€51,824
down €51,824, from €12,605 to -€39,220
- Taxes -€2,186
down €2,186, from €2,000 to -€186
- Depreciation -€572
down €572 (-31.9%), from €1,791 to €1,219
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 | €105,951 | €72,544 | -€33,407 | -31.5% |
| Fixed assets | 21/28 | €2,695 | €1,476 | -€1,219 | -45.2% |
| Tangible fixed assets | 22/27 | €2,695 | €1,476 | -€1,219 | -45.2% |
| Plant, machinery and equipment | 23 | €1,095 | €823 | -€272 | -24.8% |
| Furniture and vehicles | 24 | €1,600 | €653 | -€947 | -59.2% |
| Current assets | 29/58 | €103,256 | €71,068 | -€32,188 | -31.2% |
| Amounts receivable within one year | 40/41 | €98,800 | €60,500 | -€38,300 | -38.8% |
| Trade receivables | 40 | €96,800 | €60,500 | -€36,300 | -37.5% |
| Other amounts receivable | 41 | €2,000 | - | -€2,000 | |
| Cash at bank and in hand | 54/58 | €4,456 | €10,568 | +€6,112 | +137.2% |
| Total equity and liabilities | 10/49 | €105,951 | €72,544 | -€33,407 | -31.5% |
| Equity | 10/15 | €17,933 | -€22,943 | -€40,876 | |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€617 | -€41,493 | -€40,876 | -6624.7% |
| Amounts payable | 17/49 | €88,018 | €95,487 | +€7,469 | +8.5% |
| Amounts payable within one year | 42/48 | €88,018 | €95,487 | +€7,469 | +8.5% |
| Trade debts | 44 | €5,262 | €4,159 | -€1,104 | -21.0% |
| Suppliers | 440/4 | €5,262 | €4,159 | -€1,104 | -21.0% |
| Taxes, remuneration and social security | 45 | €13,177 | €1,390 | -€11,787 | -89.5% |
| Taxes | 450/3 | €13,177 | €1,390 | -€11,787 | -89.5% |
| Other amounts payable | 47/48 | €69,579 | €89,938 | +€20,360 | +29.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,791 | €1,219 | -€572 | -31.9% |
| Other operating charges | 640/8 | - | €384 | +€384 | |
| Gross operating margin | 9900 | €12,605 | -€39,220 | -€51,824 | |
| Operating profit (loss) | 9901 | €10,814 | -€40,823 | -€51,637 | |
| Financial charges | 65/66B | €206 | €238 | +€32 | +15.5% |
| Recurring financial charges | 65 | €206 | €238 | +€32 | +15.5% |
| Profit (loss) for the period before taxes | 9903 | €10,607 | -€41,062 | -€51,669 | |
| Income taxes | 67/77 | €2,000 | -€186 | -€2,186 | |
| Profit (loss) for the period | 9904 | €8,607 | -€40,876 | -€49,483 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,607 | -€40,876 | -€49,483 |
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 11 October 2026 via checked.be.