DE HAVEN: 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.
DE HAVEN
Largest movements
- Financial fixed assets +€960,000
up €960,000 (+40.9%), from €2.3m to €3.3m
- Cash -€36,811
down €36,811 (-90.0%), from €40,910 to €4,100
mainly Investment in fixed assets (net) (-€950,056) and Deferred charges and accrued income (-€7,363)
- Current portion of long-term debt +€480,000
new in 2025: €480,000
- Profit (loss) carried forward +€255,697
up €255,697 (+18.3%), from €1.4m to €1.7m
- Other debts +€164,090
up €164,090 (+16.8%), from €978,382 to €1.1m
- Gross operating margin +€19,972
up €19,972 (+5.9%), from €338,496 to €358,467
- Taxes +€15,635
up €15,635 (+18.4%), from €84,993 to €100,629
- Depreciation -€6,342
down €6,342 (-84.9%), from €7,470 to €1,128
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 | €2,437,316 | €3,350,456 | +€913,140 | +37.5% |
| Fixed assets | 21/28 | €2,359,102 | €3,308,030 | +€948,928 | +40.2% |
| Tangible fixed assets | 22/27 | €12,819 | €1,747 | -€11,072 | -86.4% |
| Furniture and vehicles | 24 | €12,819 | €1,747 | -€11,072 | -86.4% |
| Financial fixed assets | 28 | €2,346,283 | €3,306,283 | +€960,000 | +40.9% |
| Current assets | 29/58 | €78,214 | €42,426 | -€35,788 | -45.8% |
| Amounts receivable within one year | 40/41 | €37,198 | €30,858 | -€6,340 | -17.0% |
| Trade receivables | 40 | €3,560 | €5,658 | +€2,097 | +58.9% |
| Other amounts receivable | 41 | €33,638 | €25,200 | -€8,438 | -25.1% |
| Cash at bank and in hand | 54/58 | €40,910 | €4,100 | -€36,811 | -90.0% |
| Deferred charges and accrued income | 490/1 | €106 | €7,469 | +€7,363 | +6,947% |
| Total equity and liabilities | 10/49 | €2,437,316 | €3,350,456 | +€913,140 | +37.5% |
| Equity | 10/15 | €1,418,052 | €1,673,749 | +€255,697 | +18.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,696 | €2,696 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €836 | €836 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,396,756 | €1,652,454 | +€255,697 | +18.3% |
| Amounts payable | 17/49 | €1,019,264 | €1,676,707 | +€657,442 | +64.5% |
| Amounts payable within one year | 42/48 | €1,019,264 | €1,676,707 | +€657,442 | +64.5% |
| Current portion of amounts payable after more than one year | 42 | - | €480,000 | +€480,000 | |
| Trade debts | 44 | €12,756 | €11,851 | -€905 | -7.1% |
| Suppliers | 440/4 | €12,756 | €11,851 | -€905 | -7.1% |
| Taxes, remuneration and social security | 45 | €28,127 | €42,383 | +€14,257 | +50.7% |
| Taxes | 450/3 | €28,127 | €42,383 | +€14,257 | +50.7% |
| Other amounts payable | 47/48 | €978,382 | €1,142,472 | +€164,090 | +16.8% |
| Non-recurring operating income | 76A | - | €28,513 | +€28,513 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,470 | €1,128 | -€6,342 | -84.9% |
| Other operating charges | 640/8 | €308 | €338 | +€30 | +9.6% |
| Gross operating margin | 9900 | €338,496 | €358,467 | +€19,972 | +5.9% |
| Operating profit (loss) | 9901 | €330,718 | €357,002 | +€26,284 | +7.9% |
| Financial charges | 65/66B | €526 | €675 | +€149 | +28.3% |
| Recurring financial charges | 65 | €526 | €675 | +€149 | +28.3% |
| Profit (loss) for the period before taxes | 9903 | €330,191 | €356,326 | +€26,135 | +7.9% |
| Income taxes | 67/77 | €84,993 | €100,629 | +€15,635 | +18.4% |
| Profit (loss) for the period | 9904 | €245,198 | €255,697 | +€10,500 | +4.3% |
| Profit (loss) for the period to be appropriated | 9905 | €245,198 | €255,697 | +€10,500 | +4.3% |
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 14 October 2026 via checked.be.