HAEVE: 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.
HAEVE
Largest movements
- Tangible fixed assets -€29,970
down €29,970 (-15.2%), from €197,243 to €167,273
of which Plant, machinery and equipment: -€21,570
- Cash +€2,314
up €2,314 (+15.8%), from €14,619 to €16,933
mainly Depreciation (+€29,970) and Net result for the year (+€11,106)
- Debts after one year -€38,143
down €38,143 (-26.1%), from €145,958 to €107,815
- Reserves +€11,106
up €11,106 (+118.7%), from €9,357 to €20,463
- Tax, wage and social debts +€2,657
up €2,657 (+70677.7%), from €4 to €2,661
- Gross operating margin +€19,528
up €19,528 (+66.1%), from €29,549 to €49,077
- Depreciation +€13,613
up €13,613 (+83.2%), from €16,357 to €29,970
- Taxes +€2,399
new in 2025: €2,399
- Financial charges +€1,637
up €1,637 (+42.7%), from €3,838 to €5,474
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 | €218,229 | €192,092 | -€26,137 | -12.0% |
| Fixed assets | 21/28 | €197,378 | €167,408 | -€29,970 | -15.2% |
| Tangible fixed assets | 22/27 | €197,243 | €167,273 | -€29,970 | -15.2% |
| Plant, machinery and equipment | 23 | €160,076 | €138,506 | -€21,570 | -13.5% |
| Furniture and vehicles | 24 | €37,167 | €28,767 | -€8,400 | -22.6% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €20,852 | €24,685 | +€3,833 | +18.4% |
| Amounts receivable within one year | 40/41 | €6,232 | €6,088 | -€144 | -2.3% |
| Trade receivables | 40 | €5,706 | €6,056 | +€350 | +6.1% |
| Other amounts receivable | 41 | €526 | €33 | -€494 | -93.8% |
| Cash at bank and in hand | 54/58 | €14,619 | €16,933 | +€2,314 | +15.8% |
| Deferred charges and accrued income | 490/1 | - | €1,663 | +€1,663 | |
| Total equity and liabilities | 10/49 | €218,229 | €192,092 | -€26,137 | -12.0% |
| Equity | 10/15 | €34,357 | €45,463 | +€11,106 | +32.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €9,357 | €20,463 | +€11,106 | +118.7% |
| Distributable reserves | 133 | €9,357 | €20,463 | +€11,106 | +118.7% |
| Amounts payable | 17/49 | €183,873 | €146,629 | -€37,243 | -20.3% |
| Amounts payable after more than one year | 17 | €145,958 | €107,815 | -€38,143 | -26.1% |
| Financial debts | 170/4 | €145,958 | €107,815 | -€38,143 | -26.1% |
| Amounts payable within one year | 42/48 | €37,915 | €38,815 | +€900 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €33,000 | €33,000 | = | 0.0% |
| Trade debts | 44 | €4,911 | €3,153 | -€1,758 | -35.8% |
| Suppliers | 440/4 | €4,911 | €3,153 | -€1,758 | -35.8% |
| Taxes, remuneration and social security | 45 | €4 | €2,661 | +€2,657 | +70677.7% |
| Taxes | 450/3 | €4 | €2,661 | +€2,657 | +70677.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,357 | €29,970 | +€13,613 | +83.2% |
| Other operating charges | 640/8 | - | €128 | +€128 | |
| Gross operating margin | 9900 | €29,549 | €49,077 | +€19,528 | +66.1% |
| Operating profit (loss) | 9901 | €13,192 | €18,979 | +€5,788 | +43.9% |
| Financial income | 75/76B | €3 | €0 | -€3 | -100.0% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100.0% |
| Financial charges | 65/66B | €3,838 | €5,474 | +€1,637 | +42.7% |
| Recurring financial charges | 65 | €3,838 | €5,474 | +€1,637 | +42.7% |
| Profit (loss) for the period before taxes | 9903 | €9,357 | €13,505 | +€4,148 | +44.3% |
| Income taxes | 67/77 | - | €2,399 | +€2,399 | |
| Profit (loss) for the period | 9904 | €9,357 | €11,106 | +€1,749 | +18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,357 | €11,106 | +€1,749 | +18.7% |
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 11 October 2026 via checked.be.