HVAC Solution: what changed
What changed
HVAC Solution
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
filed annual accounts (NBB)
Net result for the year
€69,604
2024 · €30,701+€38,903
Equity
€114,351
2024 · €172,747-€58,396
Cash
€99,420
2024 · €46,215+€53,205
Balance sheet total
€466,147
2024 · €381,693+€84,454
Largest movements
Assets
- Cash +€53,205
up €53,205 (+115%), from €46,215 to €99,420
mainly Other debts (+€104,500) and Net result for the year (+€69,604)
- Receivables within one year +€46,645
up €46,645 (+188%), from €24,775 to €71,420
of which Trade receivables: +€46,372
- Tangible fixed assets -€15,101
down €15,101 (-4.9%), from €310,094 to €294,993
of which Plant, machinery and equipment: -€11,072
Equity and liabilities
- Other debts +€104,500
up €104,500 (+909%), from €11,500 to €116,000
- Profit (loss) carried forward -€58,396
down €58,396 (-37.9%), from €154,147 to €95,751
- Provisions +€34,431
new in 2025: €34,431
- Tax, wage and social debts +€19,881
up €19,881 (+73.6%), from €27,000 to €46,881
- Trade debts -€9,234
down €9,234 (-90.3%), from €10,222 to €988
Income statement
- Gross operating margin +€94,679
up €94,679 (+147%), from €64,603 to €159,282
- Provisions +€34,431
new in 2025: €34,431
- Taxes +€21,990
up €21,990 (+214%), from €10,294 to €32,284
- Other operating charges -€2,197
down €2,197 (-44.6%), from €4,925 to €2,728
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€30,701
Gross operating margin
+€94,679
Depreciation
+€363
Provisions
-€34,431
Other operating charges
+€2,197
Other operating items
-€2,807
Financial charges
+€892
Taxes
-€21,990
Result 2025
€69,604
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€183,907
Investment
+€4,026
Financing
-€134,728
Cash 2024
€46,215
From operations (derived)
+€183,907
Net result for the year
+€69,604
Depreciation
+€11,353
Receivables within one year
-€46,645
Deferred charges and accrued income
+€17
Provisions
+€34,431
Trade debts
-€9,234
Tax, wage and social debts
+€19,881
Other debts
+€104,500
Investment (derived)
+€4,026
Investment in fixed assets (net)
+€4,026
Financing
-€134,728
Debts after one year
-€6,936
Current portion of long-term debt
+€208
Contributions, distributions and other
-€128,000
Cash 2025
€99,420
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €381,693 | €466,147 | +€84,454 | +22.1% |
| Formation expenses | 20 | €278 | - | -€278 | |
| Fixed assets | 21/28 | €310,094 | €294,993 | -€15,101 | -4.9% |
| Tangible fixed assets | 22/27 | €310,094 | €294,993 | -€15,101 | -4.9% |
| Land and buildings | 22 | €296,934 | €289,778 | -€7,156 | -2.4% |
| Plant, machinery and equipment | 23 | €11,072 | - | -€11,072 | |
| Furniture and vehicles | 24 | €2,088 | €5,215 | +€3,127 | +150% |
| Current assets | 29/58 | €71,321 | €171,154 | +€99,833 | +140% |
| Amounts receivable within one year | 40/41 | €24,775 | €71,420 | +€46,645 | +188% |
| Trade receivables | 40 | €24,119 | €70,491 | +€46,372 | +192% |
| Other amounts receivable | 41 | €656 | €929 | +€273 | +41.6% |
| Cash at bank and in hand | 54/58 | €46,215 | €99,420 | +€53,205 | +115% |
| Deferred charges and accrued income | 490/1 | €331 | €314 | -€17 | -5.1% |
| Total equity and liabilities | 10/49 | €381,693 | €466,147 | +€84,454 | +22.1% |
| Equity | 10/15 | €172,747 | €114,351 | -€58,396 | -33.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €154,147 | €95,751 | -€58,396 | -37.9% |
| Provisions and deferred taxes | 16 | - | €34,431 | +€34,431 | |
| Provisions for liabilities and charges | 160/5 | - | €34,431 | +€34,431 | |
| Other liabilities and charges | 164/5 | - | €34,431 | +€34,431 | |
| Amounts payable | 17/49 | €208,946 | €317,365 | +€108,419 | +51.9% |
| Amounts payable after more than one year | 17 | €153,495 | €146,559 | -€6,936 | -4.5% |
| Financial debts | 170/4 | €148,345 | €141,409 | -€6,936 | -4.7% |
| Other amounts payable | 178/9 | €5,150 | €5,150 | = | 0.0% |
| Amounts payable within one year | 42/48 | €55,451 | €170,806 | +€115,355 | +208% |
| Current portion of amounts payable after more than one year | 42 | €6,729 | €6,937 | +€208 | +3.1% |
| Trade debts | 44 | €10,222 | €988 | -€9,234 | -90.3% |
| Suppliers | 440/4 | €10,222 | €988 | -€9,234 | -90.3% |
| Taxes, remuneration and social security | 45 | €27,000 | €46,881 | +€19,881 | +73.6% |
| Taxes | 450/3 | €27,000 | €46,881 | +€19,881 | +73.6% |
| Other amounts payable | 47/48 | €11,500 | €116,000 | +€104,500 | +909% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,716 | €11,353 | -€363 | -3.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €34,431 | +€34,431 | |
| Other operating charges | 640/8 | €4,925 | €2,728 | -€2,197 | -44.6% |
| Non-recurring operating charges | 66A | - | €2,807 | +€2,807 | |
| Gross operating margin | 9900 | €64,603 | €159,282 | +€94,679 | +147% |
| Operating profit (loss) | 9901 | €47,962 | €107,963 | +€60,001 | +125% |
| Financial charges | 65/66B | €6,967 | €6,075 | -€892 | -12.8% |
| Recurring financial charges | 65 | €6,967 | €6,075 | -€892 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €40,995 | €101,888 | +€60,893 | +149% |
| Income taxes | 67/77 | €10,294 | €32,284 | +€21,990 | +214% |
| Profit (loss) for the period | 9904 | €30,701 | €69,604 | +€38,903 | +127% |
| Profit (loss) for the period to be appropriated | 9905 | €30,701 | €69,604 | +€38,903 | +127% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.