HA-VE: 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.
HA-VE
Largest movements
- Cash +€4,787
up €4,787 (+539.2%), from €888 to €5,675
mainly Net result for the year (+€5,971) and Depreciation (+€4,440)
- Tangible fixed assets -€3,986
down €3,986 (-13.4%), from €29,659 to €25,673
of which Other tangible fixed assets: -€3,547
- Receivables within one year -€2,028
down €2,028 (-10.7%), from €18,909 to €16,881
of which Trade receivables: -€2,299
- Deferred charges and accrued income -€672
no longer reported in 2025 (was €672)
- Debts after one year -€7,163
down €7,163 (-85.6%), from €8,366 to €1,203
- Reserves +€5,971
up €5,971 (+38.2%), from €15,643 to €21,614
of which Distributable reserves: +€5,971
- Trade debts -€679
down €679 (-12.2%), from €5,571 to €4,892
- Other operating charges -€13,156
down €13,156 (-97.1%), from €13,556 to €400
- Gross operating margin +€10,487
up €10,487 (+1558.1%), from €673 to €11,160
- Financial income -€747
no longer reported in 2025 (was €747)
- Depreciation -€630
down €630 (-12.4%), from €5,070 to €4,440
- Financial charges -€462
down €462 (-56.9%), from €812 to €350
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.
Cash bridge derived
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 | €50,127 | €48,229 | -€1,898 | -3.8% |
| Fixed assets | 21/28 | €29,659 | €25,673 | -€3,986 | -13.4% |
| Tangible fixed assets | 22/27 | €29,659 | €25,673 | -€3,986 | -13.4% |
| Plant, machinery and equipment | 23 | €1,953 | €1,653 | -€301 | -15.4% |
| Furniture and vehicles | 24 | €2,451 | €2,313 | -€138 | -5.6% |
| Other tangible fixed assets | 26 | €25,255 | €21,707 | -€3,547 | -14.0% |
| Current assets | 29/58 | €20,468 | €22,555 | +€2,087 | +10.2% |
| Amounts receivable within one year | 40/41 | €18,909 | €16,881 | -€2,028 | -10.7% |
| Trade receivables | 40 | €6,474 | €4,175 | -€2,299 | -35.5% |
| Other amounts receivable | 41 | €12,435 | €12,706 | +€271 | +2.2% |
| Cash at bank and in hand | 54/58 | €888 | €5,675 | +€4,787 | +539.2% |
| Deferred charges and accrued income | 490/1 | €672 | - | -€672 | |
| Total equity and liabilities | 10/49 | €50,127 | €48,229 | -€1,898 | -3.8% |
| Equity | 10/15 | €28,043 | €34,014 | +€5,971 | +21.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €15,643 | €21,614 | +€5,971 | +38.2% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €13,788 | €19,759 | +€5,971 | +43.3% |
| Amounts payable | 17/49 | €22,084 | €14,215 | -€7,869 | -35.6% |
| Amounts payable after more than one year | 17 | €8,366 | €1,203 | -€7,163 | -85.6% |
| Financial debts | 170/4 | €8,366 | €1,203 | -€7,163 | -85.6% |
| Amounts payable within one year | 42/48 | €13,718 | €13,012 | -€706 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €7,073 | €7,163 | +€90 | +1.3% |
| Trade debts | 44 | €5,571 | €4,892 | -€679 | -12.2% |
| Suppliers | 440/4 | €5,571 | €4,892 | -€679 | -12.2% |
| Taxes, remuneration and social security | 45 | €1,074 | €957 | -€117 | -10.9% |
| Taxes | 450/3 | €1,074 | €957 | -€117 | -10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,070 | €4,440 | -€630 | -12.4% |
| Other operating charges | 640/8 | €13,556 | €400 | -€13,156 | -97.1% |
| Gross operating margin | 9900 | €673 | €11,160 | +€10,487 | +1558.1% |
| Operating profit (loss) | 9901 | -€17,953 | €6,320 | +€24,273 | |
| Financial income | 75/76B | €747 | - | -€747 | |
| Recurring financial income | 75 | €747 | - | -€747 | |
| Financial charges | 65/66B | €812 | €350 | -€462 | -56.9% |
| Recurring financial charges | 65 | €812 | €350 | -€462 | -56.9% |
| Profit (loss) for the period before taxes | 9903 | -€18,018 | €5,971 | +€23,989 | |
| Income taxes | 67/77 | €59 | - | -€59 | |
| Profit (loss) for the period | 9904 | -€18,077 | €5,971 | +€24,048 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,077 | €5,971 | +€24,048 |
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 9 October 2026 via checked.be.