P.HBV: 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.
P.HBV
Largest movements
- Tangible fixed assets -€50,337
down €50,337 (-14.5%), from €346,752 to €296,414
of which Other tangible fixed assets: -€36,737
- Receivables within one year -€7,461
down €7,461 (-97.3%), from €7,667 to €206
of which Trade receivables: -€7,471
- Debts after one year -€38,551
down €38,551 (-14.9%), from €257,875 to €219,324
- Trade debts -€16,494
down €16,494 (-67.6%), from €24,383 to €7,890
- Other operating charges -€4,295
down €4,295 (-78.7%), from €5,458 to €1,163
- Gross operating margin +€3,901
up €3,901 (+6.6%), from €59,180 to €63,081
- Financial charges -€1,154
down €1,154 (-7.2%), from €15,970 to €14,816
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €354,419 | €296,686 | -€57,732 | -16.3% |
| Fixed assets | 21/28 | €346,752 | €296,414 | -€50,337 | -14.5% |
| Tangible fixed assets | 22/27 | €346,752 | €296,414 | -€50,337 | -14.5% |
| Plant, machinery and equipment | 23 | €45,644 | €32,044 | -€13,600 | -29.8% |
| Other tangible fixed assets | 26 | €301,108 | €264,371 | -€36,737 | -12.2% |
| Current assets | 29/58 | €7,667 | €272 | -€7,395 | -96.5% |
| Amounts receivable within one year | 40/41 | €7,667 | €206 | -€7,461 | -97.3% |
| Trade receivables | 40 | €7,471 | €0 | -€7,471 | -100% |
| Other amounts receivable | 41 | €196 | €206 | +€10 | +5.0% |
| Deferred charges and accrued income | 490/1 | - | €66 | +€66 | |
| Total equity and liabilities | 10/49 | €354,419 | €296,686 | -€57,732 | -16.3% |
| Equity | 10/15 | -€36,910 | -€40,146 | -€3,236 | -8.8% |
| Contributions | 10/11 | €10,230 | €10,230 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49,000 | -€52,236 | -€3,236 | -6.6% |
| Amounts payable | 17/49 | €391,328 | €336,832 | -€54,496 | -13.9% |
| Amounts payable after more than one year | 17 | €257,875 | €219,324 | -€38,551 | -14.9% |
| Financial debts | 170/4 | €257,875 | €219,324 | -€38,551 | -14.9% |
| Amounts payable within one year | 42/48 | €133,453 | €117,508 | -€15,945 | -11.9% |
| Current portion of amounts payable after more than one year | 42 | €36,932 | €38,551 | +€1,620 | +4.4% |
| Financial debts | 43 | €9,551 | €7,669 | -€1,882 | -19.7% |
| Credit institutions | 430/8 | €9,551 | €7,669 | -€1,882 | -19.7% |
| Trade debts | 44 | €24,383 | €7,890 | -€16,494 | -67.6% |
| Suppliers | 440/4 | €24,383 | €7,890 | -€16,494 | -67.6% |
| Taxes, remuneration and social security | 45 | €4,878 | €7,613 | +€2,736 | +56.1% |
| Taxes | 450/3 | €4,878 | €7,613 | +€2,736 | +56.1% |
| Other amounts payable | 47/48 | €57,709 | €55,784 | -€1,925 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,337 | €50,337 | = | 0.0% |
| Other operating charges | 640/8 | €5,458 | €1,163 | -€4,295 | -78.7% |
| Gross operating margin | 9900 | €59,180 | €63,081 | +€3,901 | +6.6% |
| Operating profit (loss) | 9901 | €3,384 | €11,580 | +€8,196 | +242% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €15,970 | €14,816 | -€1,154 | -7.2% |
| Recurring financial charges | 65 | €15,970 | €14,816 | -€1,154 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | -€12,585 | -€3,236 | +€9,349 | +74.3% |
| Profit (loss) for the period | 9904 | -€12,585 | -€3,236 | +€9,349 | +74.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,585 | -€3,236 | +€9,349 | +74.3% |
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 19 October 2026 via checked.be.