ELECTRO HASEVOETS: 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.
ELECTRO HASEVOETS
Largest movements
- Receivables within one year +€135,128
up €135,128 (+78.7%), from €171,809 to €306,937
of which Trade receivables: +€125,231
- Cash -€90,793
down €90,793 (-63.2%), from €143,678 to €52,885
mainly Receivables within one year (-€135,128) and Stocks and contracts (-€49,477)
- Stocks and contracts +€49,477
up €49,477 (+22.9%), from €216,292 to €265,768
of which Stocks: +€27,977
- Tangible fixed assets -€20,130
down €20,130 (-28.3%), from €71,058 to €50,928
of which Leasing and similar rights: -€15,834
- Trade debts +€122,539
up €122,539 (+162%), from €75,651 to €198,190
- Debts after one year -€18,571
down €18,571 (-41.9%), from €44,275 to €25,704
- Short-term financial debts -€13,878
down €13,878 (-8.2%), from €169,955 to €156,077
- Tax, wage and social debts -€10,031
down €10,031 (-42.4%), from €23,648 to €13,617
of which Remuneration and social security: -€10,217
- Gross operating margin -€108,761
down €108,761 (-37.9%), from €286,623 to €177,862
- Staff costs -€90,670
down €90,670 (-37.8%), from €239,604 to €148,933
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 | €612,932 | €684,685 | +€71,753 | +11.7% |
| Fixed assets | 21/28 | €73,255 | €53,125 | -€20,130 | -27.5% |
| Tangible fixed assets | 22/27 | €71,058 | €50,928 | -€20,130 | -28.3% |
| Plant, machinery and equipment | 23 | €665 | - | -€665 | |
| Leasing and similar rights | 25 | €43,443 | €27,609 | -€15,834 | -36.4% |
| Other tangible fixed assets | 26 | €26,951 | €23,319 | -€3,631 | -13.5% |
| Financial fixed assets | 28 | €2,196 | €2,196 | = | 0.0% |
| Current assets | 29/58 | €539,677 | €631,560 | +€91,883 | +17.0% |
| Stocks and contracts in progress | 3 | €216,292 | €265,768 | +€49,477 | +22.9% |
| Stocks | 30/36 | €144,292 | €172,268 | +€27,977 | +19.4% |
| Contracts in progress | 37 | €72,000 | €93,500 | +€21,500 | +29.9% |
| Amounts receivable within one year | 40/41 | €171,809 | €306,937 | +€135,128 | +78.7% |
| Trade receivables | 40 | €134,202 | €259,433 | +€125,231 | +93.3% |
| Other amounts receivable | 41 | €37,607 | €47,504 | +€9,897 | +26.3% |
| Cash at bank and in hand | 54/58 | €143,678 | €52,885 | -€90,793 | -63.2% |
| Deferred charges and accrued income | 490/1 | €7,898 | €5,969 | -€1,929 | -24.4% |
| Total equity and liabilities | 10/49 | €612,932 | €684,685 | +€71,753 | +11.7% |
| Equity | 10/15 | €262,617 | €258,117 | -€4,500 | -1.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €212,617 | €208,117 | -€4,500 | -2.1% |
| Distributable reserves | 133 | €212,617 | €208,117 | -€4,500 | -2.1% |
| Amounts payable | 17/49 | €350,314 | €426,568 | +€76,253 | +21.8% |
| Amounts payable after more than one year | 17 | €44,275 | €25,704 | -€18,571 | -41.9% |
| Financial debts | 170/4 | €44,275 | €25,704 | -€18,571 | -41.9% |
| Amounts payable within one year | 42/48 | €306,039 | €400,863 | +€94,824 | +31.0% |
| Current portion of amounts payable after more than one year | 42 | €20,292 | €18,946 | -€1,346 | -6.6% |
| Financial debts | 43 | €169,955 | €156,077 | -€13,878 | -8.2% |
| Credit institutions | 430/8 | €169,955 | €156,077 | -€13,878 | -8.2% |
| Trade debts | 44 | €75,651 | €198,190 | +€122,539 | +162% |
| Suppliers | 440/4 | €75,651 | €198,190 | +€122,539 | +162% |
| Taxes, remuneration and social security | 45 | €23,648 | €13,617 | -€10,031 | -42.4% |
| Taxes | 450/3 | €525 | €710 | +€186 | +35.4% |
| Remuneration and social security | 454/9 | €23,123 | €12,907 | -€10,217 | -44.2% |
| Other amounts payable | 47/48 | €16,493 | €14,033 | -€2,460 | -14.9% |
| Remuneration, social security and pensions | 62 | €239,604 | €148,933 | -€90,670 | -37.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,228 | €20,130 | -€98 | -0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,496 | - | -€2,496 | |
| Other operating charges | 640/8 | €619 | €1,852 | +€1,232 | +199% |
| Gross operating margin | 9900 | €286,623 | €177,862 | -€108,761 | -37.9% |
| Operating profit (loss) | 9901 | €23,676 | €6,948 | -€16,728 | -70.7% |
| Financial income | 75/76B | €285 | €120 | -€166 | -58.0% |
| Recurring financial income | 75 | €285 | €120 | -€166 | -58.0% |
| Financial charges | 65/66B | €13,656 | €11,568 | -€2,088 | -15.3% |
| Recurring financial charges | 65 | €13,656 | €11,568 | -€2,088 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €10,306 | -€4,500 | -€14,805 | |
| Income taxes | 67/77 | €1,529 | - | -€1,529 | |
| Profit (loss) for the period | 9904 | €8,777 | -€4,500 | -€13,277 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,777 | -€4,500 | -€13,277 |
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.