HANAVI: 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.
HANAVI
Largest movements
- Cash +€378,265
new in 2025: €378,265
mainly Net result for the year (+€921,764) and Receivables within one year (+€213,396)
- Tangible fixed assets +€234,513
up €234,513 (+51.9%), from €451,799 to €686,311
- Receivables within one year -€213,396
down €213,396 (-39.6%), from €539,456 to €326,060
of which Trade receivables: -€222,102
- Financial fixed assets +€17,272
up €17,272 (+28786.5%), from €60 to €17,332
- Profit (loss) carried forward +€921,764
up €921,764, from -€640,033 to €281,732
- Trade debts -€441,489
down €441,489 (-69.4%), from €636,147 to €194,658
- Short-term financial debts -€38,472
no longer reported in 2025 (was €38,472)
- Debts after one year -€21,038
down €21,038 (-14.4%), from €145,765 to €124,727
- Gross operating margin +€501,575
up €501,575 (+211.4%), from €237,216 to €738,791
- Financial income +€368,942
up €368,942 (+339694.6%), from €109 to €369,051
of which Non-recurring financial income: +€369,051
- Depreciation -€49,614
down €49,614 (-40.9%), from €121,387 to €71,773
- Taxes +€13,773
new in 2025: €13,773
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 | €1,007,116 | €1,413,995 | +€406,879 | +40.4% |
| Fixed assets | 21/28 | €451,859 | €703,643 | +€251,784 | +55.7% |
| Tangible fixed assets | 22/27 | €451,799 | €686,311 | +€234,513 | +51.9% |
| Land and buildings | 22 | €276,236 | €295,652 | +€19,417 | +7.0% |
| Plant, machinery and equipment | 23 | €173,813 | €283,764 | +€109,951 | +63.3% |
| Furniture and vehicles | 24 | €1,750 | €2,675 | +€925 | +52.9% |
| Leasing and similar rights | 25 | - | €104,219 | +€104,219 | |
| Financial fixed assets | 28 | €60 | €17,332 | +€17,272 | +28786.5% |
| Current assets | 29/58 | €555,257 | €710,352 | +€155,094 | +27.9% |
| Stocks and contracts in progress | 3 | - | €3,238 | +€3,238 | |
| Stocks | 30/36 | - | €3,238 | +€3,238 | |
| Amounts receivable within one year | 40/41 | €539,456 | €326,060 | -€213,396 | -39.6% |
| Trade receivables | 40 | €539,456 | €317,354 | -€222,102 | -41.2% |
| Other amounts receivable | 41 | - | €8,706 | +€8,706 | |
| Cash at bank and in hand | 54/58 | - | €378,265 | +€378,265 | |
| Deferred charges and accrued income | 490/1 | €15,801 | €2,789 | -€13,012 | -82.3% |
| Total equity and liabilities | 10/49 | €1,007,116 | €1,413,995 | +€406,879 | +40.4% |
| Equity | 10/15 | -€447,533 | €474,232 | +€921,764 | |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Capital | 10 | €175,000 | €175,000 | = | 0.0% |
| Issued capital | 100 | €175,000 | €175,000 | = | 0.0% |
| Reserves | 13 | €17,500 | €17,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,500 | €17,500 | = | 0.0% |
| Legal reserve | 130 | €17,500 | €17,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€640,033 | €281,732 | +€921,764 | |
| Amounts payable | 17/49 | €1,454,649 | €939,763 | -€514,885 | -35.4% |
| Amounts payable after more than one year | 17 | €145,765 | €124,727 | -€21,038 | -14.4% |
| Financial debts | 170/4 | €145,765 | €124,727 | -€21,038 | -14.4% |
| Amounts payable within one year | 42/48 | €1,307,568 | €815,037 | -€492,531 | -37.7% |
| Current portion of amounts payable after more than one year | 42 | €98,494 | €89,013 | -€9,481 | -9.6% |
| Financial debts | 43 | €38,472 | - | -€38,472 | |
| Credit institutions | 430/8 | €38,472 | - | -€38,472 | |
| Trade debts | 44 | €636,147 | €194,658 | -€441,489 | -69.4% |
| Suppliers | 440/4 | €636,147 | €194,658 | -€441,489 | -69.4% |
| Advances received on contracts in progress | 46 | €246,989 | €237,053 | -€9,936 | -4.0% |
| Taxes, remuneration and social security | 45 | €17,014 | €24,301 | +€7,287 | +42.8% |
| Taxes | 450/3 | €7,692 | €15,110 | +€7,418 | +96.4% |
| Remuneration and social security | 454/9 | €9,322 | €9,191 | -€131 | -1.4% |
| Other amounts payable | 47/48 | €270,452 | €270,012 | -€440 | -0.2% |
| Accrued charges and deferred income | 492/3 | €1,316 | - | -€1,316 | |
| Remuneration, social security and pensions | 62 | €75,960 | €83,159 | +€7,199 | +9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,387 | €71,773 | -€49,614 | -40.9% |
| Other operating charges | 640/8 | €7,618 | €8,132 | +€514 | +6.8% |
| Gross operating margin | 9900 | €237,216 | €738,791 | +€501,575 | +211.4% |
| Operating profit (loss) | 9901 | €32,251 | €575,727 | +€543,476 | +1685.2% |
| Financial income | 75/76B | €109 | €369,051 | +€368,942 | +339694.6% |
| Recurring financial income | 75 | €109 | €0 | -€108 | -99.7% |
| Non-recurring financial income | 76B | - | €369,051 | +€369,051 | |
| Financial charges | 65/66B | €15,014 | €9,241 | -€5,773 | -38.4% |
| Recurring financial charges | 65 | €15,014 | €9,241 | -€5,773 | -38.4% |
| Profit (loss) for the period before taxes | 9903 | €17,346 | €935,537 | +€918,191 | +5293.5% |
| Income taxes | 67/77 | - | €13,773 | +€13,773 | |
| Profit (loss) for the period | 9904 | €17,346 | €921,764 | +€904,418 | +5214.1% |
| Profit (loss) for the period to be appropriated | 9905 | €17,346 | €921,764 | +€904,418 | +5214.1% |
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 3 October 2026 via checked.be.