LD-HVAC: 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.
LD-HVAC
Largest movements
- Stocks and contracts -€22,146
no longer reported in 2025 (was €22,146)
- Receivables within one year +€16,228
up €16,228 (+29.3%), from €55,334 to €71,562
of which Trade receivables: +€13,554
- Cash -€2,895
down €2,895 (-97.9%), from €2,957 to €62
mainly Tax, wage and social debts (-€20,523) and Receivables within one year (-€16,228)
- Tax, wage and social debts -€20,523
down €20,523 (-83.7%), from €24,506 to €3,983
- Profit (loss) carried forward +€15,909
up €15,909, from -€907 to €15,002
- Trade debts -€4,197
down €4,197 (-8.1%), from €51,837 to €47,640
- Purchases and services +€274,778
up €274,778 (+128%), from €214,133 to €488,911
- Gross operating margin +€19,909
up €19,909 (+1,336%), from €1,490 to €21,398
- Taxes +€3,983
new in 2025: €3,983
- Other operating charges +€545
up €545 (+108%), from €505 to €1,050
- Financial charges +€443
up €443 (+3,077%), from €14 to €457
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 | €80,436 | €71,624 | -€8,812 | -11.0% |
| Current assets | 29/58 | €80,436 | €71,624 | -€8,812 | -11.0% |
| Stocks and contracts in progress | 3 | €22,146 | - | -€22,146 | |
| Stocks | 30/36 | €22,146 | - | -€22,146 | |
| Amounts receivable within one year | 40/41 | €55,334 | €71,562 | +€16,228 | +29.3% |
| Trade receivables | 40 | €55,031 | €68,585 | +€13,554 | +24.6% |
| Other amounts receivable | 41 | €303 | €2,977 | +€2,674 | +883% |
| Cash at bank and in hand | 54/58 | €2,957 | €62 | -€2,895 | -97.9% |
| Total equity and liabilities | 10/49 | €80,436 | €71,624 | -€8,812 | -11.0% |
| Equity | 10/15 | €4,093 | €20,002 | +€15,909 | +389% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€907 | €15,002 | +€15,909 | |
| Amounts payable | 17/49 | €76,343 | €51,623 | -€24,721 | -32.4% |
| Amounts payable within one year | 42/48 | €76,343 | €51,623 | -€24,721 | -32.4% |
| Trade debts | 44 | €51,837 | €47,640 | -€4,197 | -8.1% |
| Suppliers | 440/4 | €51,837 | €47,640 | -€4,197 | -8.1% |
| Taxes, remuneration and social security | 45 | €24,506 | €3,983 | -€20,523 | -83.7% |
| Taxes | 450/3 | €24,506 | €3,983 | -€20,523 | -83.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €214,133 | €488,911 | +€274,778 | +128% |
| Other operating charges | 640/8 | €505 | €1,050 | +€545 | +108% |
| Gross operating margin | 9900 | €1,490 | €21,398 | +€19,909 | +1,336% |
| Operating profit (loss) | 9901 | €984 | €20,348 | +€19,364 | +1,967% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €14 | €457 | +€443 | +3,077% |
| Recurring financial charges | 65 | €14 | €457 | +€443 | +3,077% |
| Profit (loss) for the period before taxes | 9903 | €970 | €19,891 | +€18,921 | +1,951% |
| Income taxes | 67/77 | - | €3,983 | +€3,983 | |
| Profit (loss) for the period | 9904 | €970 | €15,909 | +€14,939 | +1,540% |
| Profit (loss) for the period to be appropriated | 9905 | €970 | €15,909 | +€14,939 | +1,540% |
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 27 October 2026 via checked.be.