DE HAVEZATE: 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 HAVEZATE
Largest movements
- Tangible fixed assets +€97,267
up €97,267 (+9.8%), from €993,015 to €1.1m
of which Furniture and vehicles: +€136,301
- Cash +€53,129
up €53,129 (+25.6%), from €207,444 to €260,573
mainly Net result for the year (+€115,226) and Depreciation (+€81,787)
- Receivables within one year -€40,043
down €40,043 (-62.0%), from €64,637 to €24,594
of which Trade receivables: -€33,345
- Reserves +€115,200
up €115,200 (+29.9%), from €385,800 to €501,000
- Gross operating margin +€136,115
up €136,115 (+126%), from €107,714 to €243,829
- Taxes +€32,844
up €32,844 (+403%), from €8,158 to €41,002
- Depreciation +€15,008
up €15,008 (+22.5%), from €66,779 to €81,787
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 | €1,268,295 | €1,380,602 | +€112,307 | +8.9% |
| Fixed assets | 21/28 | €993,034 | €1,090,301 | +€97,267 | +9.8% |
| Tangible fixed assets | 22/27 | €993,015 | €1,090,282 | +€97,267 | +9.8% |
| Land and buildings | 22 | €954,202 | €922,756 | -€31,445 | -3.3% |
| Plant, machinery and equipment | 23 | €38,813 | €31,225 | -€7,588 | -19.6% |
| Furniture and vehicles | 24 | €0 | €136,301 | +€136,301 | |
| Financial fixed assets | 28 | €19 | €19 | = | 0.0% |
| Current assets | 29/58 | €275,261 | €290,301 | +€15,040 | +5.5% |
| Amounts receivable within one year | 40/41 | €64,637 | €24,594 | -€40,043 | -62.0% |
| Trade receivables | 40 | €55,128 | €21,784 | -€33,345 | -60.5% |
| Other amounts receivable | 41 | €9,508 | €2,810 | -€6,698 | -70.4% |
| Cash at bank and in hand | 54/58 | €207,444 | €260,573 | +€53,129 | +25.6% |
| Deferred charges and accrued income | 490/1 | €3,180 | €5,134 | +€1,954 | +61.5% |
| Total equity and liabilities | 10/49 | €1,268,295 | €1,380,602 | +€112,307 | +8.9% |
| Equity | 10/15 | €784,070 | €899,296 | +€115,226 | +14.7% |
| Contributions | 10/11 | €397,740 | €397,740 | = | 0.0% |
| Reserves | 13 | €385,800 | €501,000 | +€115,200 | +29.9% |
| Distributable reserves | 133 | €385,800 | €501,000 | +€115,200 | +29.9% |
| Profit (loss) carried forward | 14 | €530 | €556 | +€26 | +5.0% |
| Amounts payable | 17/49 | €484,225 | €481,305 | -€2,919 | -0.6% |
| Amounts payable after more than one year | 17 | €375,000 | €375,000 | = | 0.0% |
| Financial debts | 170/4 | €375,000 | €375,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €109,225 | €106,305 | -€2,919 | -2.7% |
| Trade debts | 44 | €2,508 | €4,468 | +€1,960 | +78.2% |
| Suppliers | 440/4 | €2,508 | €4,468 | +€1,960 | +78.2% |
| Taxes, remuneration and social security | 45 | €11,223 | €7,065 | -€4,158 | -37.0% |
| Taxes | 450/3 | €11,223 | €7,065 | -€4,158 | -37.0% |
| Other amounts payable | 47/48 | €95,493 | €94,771 | -€722 | -0.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €164,376 | +€164,376 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,779 | €81,787 | +€15,008 | +22.5% |
| Other operating charges | 640/8 | €4,986 | €5,266 | +€280 | +5.6% |
| Gross operating margin | 9900 | €107,714 | €243,829 | +€136,115 | +126% |
| Operating profit (loss) | 9901 | €35,948 | €156,776 | +€120,828 | +336% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €551 | €550 | -€1 | -0.2% |
| Recurring financial charges | 65 | €551 | €550 | -€1 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €35,397 | €156,228 | +€120,831 | +341% |
| Income taxes | 67/77 | €8,158 | €41,002 | +€32,844 | +403% |
| Profit (loss) for the period | 9904 | €27,239 | €115,226 | +€87,987 | +323% |
| Profit (loss) for the period to be appropriated | 9905 | €27,239 | €115,226 | +€87,987 | +323% |
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 1 November 2026 via checked.be.