HAVA: 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.
HAVA
Largest movements
- Receivables within one year +€31,109
up €31,109 (+14.9%), from €209,246 to €240,356
of which Other amounts receivable: +€34,406
- Cash -€3,116
down €3,116 (-33.8%), from €9,227 to €6,111
mainly Receivables within one year (-€31,109) and Debts after one year (-€5,807)
- Profit (loss) carried forward +€21,458
up €21,458 (+11.8%), from €181,476 to €202,934
- Tax, wage and social debts +€8,930
up €8,930 (+42.0%), from €21,286 to €30,215
- Debts after one year -€5,807
down €5,807 (-63.3%), from €9,175 to €3,368
- Gross operating margin -€38,133
down €38,133 (-53.0%), from €72,006 to €33,872
- Taxes -€10,241
down €10,241 (-52.4%), from €19,545 to €9,304
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 | €239,119 | €267,712 | +€28,593 | +12.0% |
| Fixed assets | 21/28 | €1,304 | €2,270 | +€966 | +74.1% |
| Tangible fixed assets | 22/27 | €1,304 | €2,270 | +€966 | +74.1% |
| Plant, machinery and equipment | 23 | €1,304 | €1,304 | = | 0.0% |
| Furniture and vehicles | 24 | - | €966 | +€966 | |
| Current assets | 29/58 | €237,815 | €265,442 | +€27,627 | +11.6% |
| Stocks and contracts in progress | 3 | €2,325 | €1,599 | -€726 | -31.2% |
| Stocks | 30/36 | €2,325 | €1,599 | -€726 | -31.2% |
| Amounts receivable within one year | 40/41 | €209,246 | €240,356 | +€31,109 | +14.9% |
| Trade receivables | 40 | €3,297 | - | -€3,297 | |
| Other amounts receivable | 41 | €205,949 | €240,356 | +€34,406 | +16.7% |
| Cash at bank and in hand | 54/58 | €9,227 | €6,111 | -€3,116 | -33.8% |
| Deferred charges and accrued income | 490/1 | €17,017 | €17,376 | +€359 | +2.1% |
| Total equity and liabilities | 10/49 | €239,119 | €267,712 | +€28,593 | +12.0% |
| Equity | 10/15 | €197,937 | €219,395 | +€21,458 | +10.8% |
| Contributions | 10/11 | €14,602 | €14,602 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €181,476 | €202,934 | +€21,458 | +11.8% |
| Amounts payable | 17/49 | €41,182 | €48,318 | +€7,136 | +17.3% |
| Amounts payable after more than one year | 17 | €9,175 | €3,368 | -€5,807 | -63.3% |
| Financial debts | 170/4 | €9,175 | €3,368 | -€5,807 | -63.3% |
| Amounts payable within one year | 42/48 | €32,007 | €43,184 | +€11,177 | +34.9% |
| Current portion of amounts payable after more than one year | 42 | €4,786 | €5,475 | +€688 | +14.4% |
| Financial debts | 43 | - | €678 | +€678 | |
| Credit institutions | 430/8 | - | €678 | +€678 | |
| Trade debts | 44 | €5,935 | €6,816 | +€881 | +14.8% |
| Suppliers | 440/4 | €5,935 | €6,816 | +€881 | +14.8% |
| Taxes, remuneration and social security | 45 | €21,286 | €30,215 | +€8,930 | +42.0% |
| Taxes | 450/3 | €21,286 | €30,215 | +€8,930 | +42.0% |
| Accrued charges and deferred income | 492/3 | - | €1,766 | +€1,766 | |
| Remuneration, social security and pensions | 62 | €163 | €241 | +€78 | +47.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130 | €106 | -€24 | -18.7% |
| Other operating charges | 640/8 | €2,046 | €1,740 | -€305 | -14.9% |
| Gross operating margin | 9900 | €72,006 | €33,872 | -€38,133 | -53.0% |
| Operating profit (loss) | 9901 | €69,667 | €31,785 | -€37,882 | -54.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,402 | €1,024 | -€378 | -27.0% |
| Recurring financial charges | 65 | €1,402 | €1,024 | -€378 | -27.0% |
| Profit (loss) for the period before taxes | 9903 | €68,265 | €30,762 | -€37,504 | -54.9% |
| Income taxes | 67/77 | €19,545 | €9,304 | -€10,241 | -52.4% |
| Profit (loss) for the period | 9904 | €48,720 | €21,458 | -€27,263 | -56.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,720 | €21,458 | -€27,263 | -56.0% |
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.