NHV Group: 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.
What changed
NHV Group
NACE 52.230, Warehousing and support activities for transportation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€2.1m
2024 · €4.8m-€6.9m
Equity
€171.2m
2024 · €173.3m-€2.1m
Cash
€69,768
2024 · €4,910+€64,858
Balance sheet total
€205.6m
2024 · €218.0m-€12.4m
Largest movements
Assets
- Financial fixed assets -€7.4m
down €7.4m (-3.5%), from €209.9m to €202.5m
- Receivables within one year -€5.1m
down €5.1m (-63.3%), from €8.0m to €3.0m
of which Trade receivables: -€4.7m
Equity and liabilities
- Current portion of long-term debt -€12.8m
down €12.8m (-100%), from €12.8m to €0
Income statement
- Financial income -€8.7m
down €8.7m (-92.6%), from €9.4m to €689,516
- Turnover +€697,198
up €697,198 (+111%), from €625,812 to €1.3m
- Services and other goods -€483,868
down €483,868 (-28.4%), from €1.7m to €1.2m
- Financial charges -€314,888
down €314,888 (-12.0%), from €2.6m to €2.3m
- Taxes +€159,035
up €159,035 (+39.7%), from €400,812 to €559,846
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.
Result 2024
€4.8m
Turnover
+€697,198
Other operating income
+€3,323
Services and other goods
+€483,868
Staff costs
-€8,874
Other operating charges
-€9
Other operating items
+€452,859
Financial income
-€8.7m
Financial charges
+€314,888
Taxes
-€159,035
Result 2025
-€2.1m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€3.9m
Investment
+€7.4m
Financing
-€11.2m
Cash 2024
€4,910
From operations (derived)
+€3.9m
Net result for the year
-€2.1m
Receivables within one year
+€5.1m
Deferred charges and accrued income
+€10,770
Trade debts
-€282,258
Tax, wage and social debts
-€70,064
Other debts
+€1.2m
Accrued charges and deferred income
+€79,000
Investment (derived)
+€7.4m
Investment in fixed assets (net)
+€7.4m
Financing
-€11.2m
Debts after one year
+€1.5m
Current portion of long-term debt
-€12.8m
Cash 2025
€69,768
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €217,994,404 | €205,556,228 | -€12.4m | -5.7% |
| Fixed assets | 21/28 | €209,941,918 | €202,536,000 | -€7.4m | -3.5% |
| Financial fixed assets | 28 | €209,941,918 | €202,536,000 | -€7.4m | -3.5% |
| Affiliated companies | 280/1 | €209,941,918 | €202,536,000 | -€7.4m | -3.5% |
| Participating interests | 280 | €202,536,000 | €202,536,000 | = | 0.0% |
| Amounts receivable | 281 | €7,405,918 | €0 | -€7.4m | -100% |
| Current assets | 29/58 | €8,052,486 | €3,020,228 | -€5.0m | -62.5% |
| Amounts receivable within one year | 40/41 | €8,036,806 | €2,950,460 | -€5.1m | -63.3% |
| Trade receivables | 40 | €6,118,621 | €1,438,998 | -€4.7m | -76.5% |
| Other amounts receivable | 41 | €1,918,185 | €1,511,462 | -€406,723 | -21.2% |
| Cash at bank and in hand | 54/58 | €4,910 | €69,768 | +€64,858 | +1,321% |
| Deferred charges and accrued income | 490/1 | €10,770 | - | -€10,770 | |
| Total equity and liabilities | 10/49 | €217,994,404 | €205,556,228 | -€12.4m | -5.7% |
| Equity | 10/15 | €173,271,924 | €171,163,301 | -€2.1m | -1.2% |
| Contributions | 10/11 | €335,353,444 | €335,353,444 | = | 0.0% |
| Capital | 10 | €335,353,444 | €335,353,444 | = | 0.0% |
| Issued capital | 100 | €335,353,444 | €335,353,444 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€162,081,520 | -€164,190,143 | -€2.1m | -1.3% |
| Amounts payable | 17/49 | €44,722,480 | €34,392,927 | -€10.3m | -23.1% |
| Amounts payable after more than one year | 17 | €30,483,398 | €32,011,744 | +€1.5m | +5.0% |
| Financial debts | 170/4 | €30,483,398 | €32,011,744 | +€1.5m | +5.0% |
| Subordinated loans | 170 | €30,483,398 | €32,011,744 | +€1.5m | +5.0% |
| Amounts payable within one year | 42/48 | €14,239,082 | €2,302,183 | -€11.9m | -83.8% |
| Current portion of amounts payable after more than one year | 42 | €12,773,995 | €0 | -€12.8m | -100% |
| Trade debts | 44 | €596,392 | €314,134 | -€282,258 | -47.3% |
| Suppliers | 440/4 | €596,392 | €314,134 | -€282,258 | -47.3% |
| Taxes, remuneration and social security | 45 | €314,087 | €244,023 | -€70,064 | -22.3% |
| Taxes | 450/3 | €314,087 | €132,613 | -€181,474 | -57.8% |
| Remuneration and social security | 454/9 | - | €111,410 | +€111,410 | |
| Other amounts payable | 47/48 | €554,608 | €1,744,026 | +€1.2m | +214% |
| Accrued charges and deferred income | 492/3 | - | €79,000 | +€79,000 | |
| Operating income | 70/76A | €625,812 | €1,326,333 | +€700,521 | +112% |
| Turnover | 70 | €625,812 | €1,323,010 | +€697,198 | +111% |
| Other operating income | 74 | - | €3,323 | +€3,323 | |
| Operating charges | 60/66A | €2,190,065 | €1,262,222 | -€927,844 | -42.4% |
| Services and other goods | 61 | €1,701,011 | €1,217,143 | -€483,868 | -28.4% |
| Remuneration, social security and pensions | 62 | €78 | €8,952 | +€8,874 | +11,377% |
| Other operating charges | 640/8 | €1,117 | €1,126 | +€9 | +0.8% |
| Non-recurring operating charges | 66A | €487,859 | €35,000 | -€452,859 | -92.8% |
| Operating profit (loss) | 9901 | -€1,564,253 | €64,112 | +€1.6m | |
| Financial income | 75/76B | €9,363,377 | €689,516 | -€8.7m | -92.6% |
| Recurring financial income | 75 | €9,363,377 | €689,516 | -€8.7m | -92.6% |
| Income from financial fixed assets | 750 | - | €592,473 | +€592,473 | |
| Income from current assets | 751 | €9,363,377 | €96,601 | -€9.3m | -99.0% |
| Other financial income | 752/9 | - | €442 | +€442 | |
| Financial charges | 65/66B | €2,617,293 | €2,302,405 | -€314,888 | -12.0% |
| Recurring financial charges | 65 | €2,617,293 | €2,302,405 | -€314,888 | -12.0% |
| Debt charges | 650 | €2,617,037 | €2,302,097 | -€314,941 | -12.0% |
| Other financial charges | 652/9 | €256 | €308 | +€52 | +20.5% |
| Profit (loss) for the period before taxes | 9903 | €5,181,831 | -€1,548,777 | -€6.7m | |
| Income taxes | 67/77 | €400,812 | €559,846 | +€159,035 | +39.7% |
| Taxes | 670/3 | €400,812 | €559,846 | +€159,035 | +39.7% |
| Profit (loss) for the period | 9904 | €4,781,020 | -€2,108,623 | -€6.9m | |
| Profit (loss) for the period to be appropriated | 9905 | €4,781,020 | -€2,108,623 | -€6.9m |
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 21 October 2026 via checked.be.