HAVAKAM: 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.
HAVAKAM
Largest movements
- Tangible fixed assets -€4,397
down €4,397 (-2.1%), from €209,149 to €204,751
- Profit (loss) carried forward -€9,929
down €9,929 (-6.8%), from -€145,936 to -€155,864
- Other debts +€4,945
up €4,945 (+1.7%), from €291,298 to €296,243
- Gross operating margin +€2,522
up €2,522 (+51.7%), from -€4,873 to -€2,352
- Other operating charges +€115
up €115 (+3.8%), from €3,019 to €3,134
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 | €210,608 | €205,624 | -€4,984 | -2.4% |
| Fixed assets | 21/28 | €209,774 | €205,377 | -€4,397 | -2.1% |
| Tangible fixed assets | 22/27 | €209,149 | €204,751 | -€4,397 | -2.1% |
| Land and buildings | 22 | €209,149 | €204,751 | -€4,397 | -2.1% |
| Financial fixed assets | 28 | €625 | €625 | = | 0.0% |
| Current assets | 29/58 | €834 | €248 | -€586 | -70.3% |
| Cash at bank and in hand | 54/58 | €834 | €248 | -€586 | -70.3% |
| Total equity and liabilities | 10/49 | €210,608 | €205,624 | -€4,984 | -2.4% |
| Equity | 10/15 | -€80,690 | -€90,619 | -€9,929 | -12.3% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €3,272 | €3,272 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,272 | €3,272 | = | 0.0% |
| Legal reserve | 130 | €3,272 | €3,272 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€145,936 | -€155,864 | -€9,929 | -6.8% |
| Amounts payable | 17/49 | €291,298 | €296,243 | +€4,945 | +1.7% |
| Amounts payable within one year | 42/48 | €291,298 | €296,243 | +€4,945 | +1.7% |
| Other amounts payable | 47/48 | €291,298 | €296,243 | +€4,945 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,397 | €4,397 | = | 0.0% |
| Other operating charges | 640/8 | €3,019 | €3,134 | +€115 | +3.8% |
| Gross operating margin | 9900 | -€4,873 | -€2,352 | +€2,522 | +51.7% |
| Operating profit (loss) | 9901 | -€12,290 | -€9,883 | +€2,407 | +19.6% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €44 | €46 | +€3 | +6.0% |
| Recurring financial charges | 65 | €44 | €46 | +€3 | +6.0% |
| Profit (loss) for the period before taxes | 9903 | -€12,332 | -€9,929 | +€2,403 | +19.5% |
| Profit (loss) for the period | 9904 | -€12,332 | -€9,929 | +€2,403 | +19.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,332 | -€9,929 | +€2,403 | +19.5% |
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.