Ha-Ver: what changed
Two fiscal 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-Ver
Largest movements
- Current investments -€31,601
down €31,601 (-7.8%), from €406,989 to €375,388
- Cash +€23,351
up €23,351 (+37.8%), from €61,711 to €85,062
mainly Net result for the year (+€85,946) and Current investments (+€31,601)
- Receivables within one year -€17,786
down €17,786 (-30.3%), from €58,697 to €40,911
- Tangible fixed assets -€8,151
down €8,151 (-17.8%), from €45,686 to €37,535
of which Furniture and vehicles: -€15,313
- Other debts -€33,544
down €33,544 (-94.0%), from €35,669 to €2,125
- Reserves +€17,669
up €17,669 (+3.7%), from €473,285 to €490,954
- Debts after one year -€13,459
down €13,459 (-49.3%), from €27,301 to €13,841
- Gross operating margin +€8,284
up €8,284 (+6.6%), from €125,223 to €133,506
- Financial income -€7,434
down €7,434 (-62.2%), from €11,948 to €4,514
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 | €574,792 | €540,759 | -€34,033 | -5.9% |
| Fixed assets | 21/28 | €45,686 | €37,535 | -€8,151 | -17.8% |
| Tangible fixed assets | 22/27 | €45,686 | €37,535 | -€8,151 | -17.8% |
| Land and buildings | 22 | €0 | €7,526 | +€7,526 | |
| Plant, machinery and equipment | 23 | €705 | €340 | -€364 | -51.7% |
| Furniture and vehicles | 24 | €44,982 | €29,669 | -€15,313 | -34.0% |
| Current assets | 29/58 | €529,105 | €503,223 | -€25,882 | -4.9% |
| Amounts receivable within one year | 40/41 | €58,697 | €40,911 | -€17,786 | -30.3% |
| Trade receivables | 40 | €58,697 | €40,911 | -€17,786 | -30.3% |
| Current investments | 50/53 | €406,989 | €375,388 | -€31,601 | -7.8% |
| Cash at bank and in hand | 54/58 | €61,711 | €85,062 | +€23,351 | +37.8% |
| Deferred charges and accrued income | 490/1 | €1,710 | €1,863 | +€153 | +9.0% |
| Total equity and liabilities | 10/49 | €574,792 | €540,759 | -€34,033 | -5.9% |
| Equity | 10/15 | €486,793 | €504,462 | +€17,669 | +3.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €473,285 | €490,954 | +€17,669 | +3.7% |
| Distributable reserves | 133 | €473,285 | €490,954 | +€17,669 | +3.7% |
| Profit (loss) carried forward | 14 | €7,308 | €7,308 | = | 0.0% |
| Amounts payable | 17/49 | €87,999 | €36,297 | -€51,702 | -58.8% |
| Amounts payable after more than one year | 17 | €27,301 | €13,841 | -€13,459 | -49.3% |
| Financial debts | 170/4 | €27,301 | €13,841 | -€13,459 | -49.3% |
| Amounts payable within one year | 42/48 | €60,653 | €22,455 | -€38,198 | -63.0% |
| Current portion of amounts payable after more than one year | 42 | €13,088 | €13,459 | +€372 | +2.8% |
| Trade debts | 44 | €5,559 | €3,476 | -€2,083 | -37.5% |
| Suppliers | 440/4 | €5,559 | €3,476 | -€2,083 | -37.5% |
| Taxes, remuneration and social security | 45 | €6,337 | €3,395 | -€2,942 | -46.4% |
| Taxes | 450/3 | €6,337 | €3,395 | -€2,942 | -46.4% |
| Other amounts payable | 47/48 | €35,669 | €2,125 | -€33,544 | -94.0% |
| Accrued charges and deferred income | 492/3 | €45 | €0 | -€45 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,854 | €16,205 | +€351 | +2.2% |
| Other operating charges | 640/8 | €843 | €933 | +€89 | +10.6% |
| Gross operating margin | 9900 | €125,223 | €133,506 | +€8,284 | +6.6% |
| Operating profit (loss) | 9901 | €108,525 | €116,369 | +€7,844 | +7.2% |
| Financial income | 75/76B | €11,948 | €4,514 | -€7,434 | -62.2% |
| Recurring financial income | 75 | €11,948 | €4,514 | -€7,434 | -62.2% |
| Financial charges | 65/66B | €1,405 | €1,059 | -€346 | -24.6% |
| Recurring financial charges | 65 | €1,405 | €1,059 | -€346 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €119,068 | €119,823 | +€755 | +0.6% |
| Income taxes | 67/77 | €33,670 | €33,877 | +€207 | +0.6% |
| Profit (loss) for the period | 9904 | €85,398 | €85,946 | +€549 | +0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €85,398 | €85,946 | +€549 | +0.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.