HALEVO: 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.
HALEVO
Largest movements
- Tangible fixed assets -€40,985
down €40,985 (-6.3%), from €651,785 to €610,800
of which Plant, machinery and equipment: -€21,174
- Receivables within one year +€20,663
up €20,663 (+130%), from €15,928 to €36,590
of which Other amounts receivable: +€15,164
- Cash -€10,747
down €10,747 (-14.2%), from €75,423 to €64,677
mainly Debts after one year (-€32,198) and Investment in fixed assets (net) (-€30,016)
- Debts after one year -€32,198
down €32,198 (-16.8%), from €191,088 to €158,890
- Reserves +€25,500
up €25,500 (+11.5%), from €221,000 to €246,500
- Current portion of long-term debt -€16,100
down €16,100 (-16.9%), from €95,206 to €79,105
- Gross operating margin -€35,996
down €35,996 (-10.8%), from €333,617 to €297,621
- Financial charges -€10,107
down €10,107 (-39.7%), from €25,443 to €15,336
- Taxes -€8,372
down €8,372 (-40.5%), from €20,673 to €12,301
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 | €920,974 | €894,201 | -€26,774 | -2.9% |
| Fixed assets | 21/28 | €654,535 | €613,134 | -€41,402 | -6.3% |
| Intangible fixed assets | 21 | €1,250 | €833 | -€417 | -33.3% |
| Tangible fixed assets | 22/27 | €651,785 | €610,800 | -€40,985 | -6.3% |
| Land and buildings | 22 | €430,231 | €411,800 | -€18,431 | -4.3% |
| Plant, machinery and equipment | 23 | €204,713 | €183,540 | -€21,174 | -10.3% |
| Furniture and vehicles | 24 | €16,841 | €15,461 | -€1,380 | -8.2% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €266,439 | €281,067 | +€14,628 | +5.5% |
| Amounts receivable after more than one year | 29 | €52,293 | €53,601 | +€1,307 | +2.5% |
| Other amounts receivable | 291 | €52,293 | €53,601 | +€1,307 | +2.5% |
| Stocks and contracts in progress | 3 | €118,353 | €122,127 | +€3,774 | +3.2% |
| Stocks | 30/36 | €118,353 | €122,127 | +€3,774 | +3.2% |
| Amounts receivable within one year | 40/41 | €15,928 | €36,590 | +€20,663 | +130% |
| Trade receivables | 40 | €4,335 | €9,833 | +€5,498 | +127% |
| Other amounts receivable | 41 | €11,593 | €26,757 | +€15,164 | +131% |
| Cash at bank and in hand | 54/58 | €75,423 | €64,677 | -€10,747 | -14.2% |
| Deferred charges and accrued income | 490/1 | €4,441 | €4,072 | -€369 | -8.3% |
| Total equity and liabilities | 10/49 | €920,974 | €894,201 | -€26,774 | -2.9% |
| Equity | 10/15 | €231,730 | €257,364 | +€25,633 | +11.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €221,000 | €246,500 | +€25,500 | +11.5% |
| Distributable reserves | 133 | €221,000 | €246,500 | +€25,500 | +11.5% |
| Profit (loss) carried forward | 14 | €4,530 | €4,664 | +€133 | +2.9% |
| Amounts payable | 17/49 | €689,244 | €636,837 | -€52,407 | -7.6% |
| Amounts payable after more than one year | 17 | €191,088 | €158,890 | -€32,198 | -16.8% |
| Financial debts | 170/4 | €191,088 | €158,890 | -€32,198 | -16.8% |
| Amounts payable within one year | 42/48 | €498,156 | €477,847 | -€20,309 | -4.1% |
| Current portion of amounts payable after more than one year | 42 | €95,206 | €79,105 | -€16,100 | -16.9% |
| Trade debts | 44 | €182,674 | €177,784 | -€4,890 | -2.7% |
| Suppliers | 440/4 | €182,674 | €177,784 | -€4,890 | -2.7% |
| Taxes, remuneration and social security | 45 | €26,477 | €27,158 | +€681 | +2.6% |
| Taxes | 450/3 | €4,082 | €2,419 | -€1,663 | -40.7% |
| Remuneration and social security | 454/9 | €22,394 | €24,738 | +€2,344 | +10.5% |
| Other amounts payable | 47/48 | €193,800 | €193,800 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €100 | +€100 | |
| Remuneration, social security and pensions | 62 | €165,297 | €165,644 | +€347 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,695 | €71,417 | +€1,722 | +2.5% |
| Other operating charges | 640/8 | €5,769 | €9,065 | +€3,295 | +57.1% |
| Gross operating margin | 9900 | €333,617 | €297,621 | -€35,996 | -10.8% |
| Operating profit (loss) | 9901 | €92,856 | €51,496 | -€41,360 | -44.5% |
| Financial income | 75/76B | €1,605 | €1,774 | +€170 | +10.6% |
| Recurring financial income | 75 | €1,605 | €1,774 | +€170 | +10.6% |
| Financial charges | 65/66B | €25,443 | €15,336 | -€10,107 | -39.7% |
| Recurring financial charges | 65 | €25,443 | €15,336 | -€10,107 | -39.7% |
| Profit (loss) for the period before taxes | 9903 | €69,018 | €37,934 | -€31,084 | -45.0% |
| Income taxes | 67/77 | €20,673 | €12,301 | -€8,372 | -40.5% |
| Profit (loss) for the period | 9904 | €48,346 | €25,633 | -€22,712 | -47.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,346 | €25,633 | -€22,712 | -47.0% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.