Havan: 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.
Havan
Largest movements
- Receivables within one year -€104,752
down €104,752 (-48.0%), from €218,148 to €113,396
of which Trade receivables: -€112,043
- Intangible fixed assets +€91,216
new in 2025: €91,216
- Tangible fixed assets +€27,946
up €27,946 (+1.8%), from €1.5m to €1.5m
of which Land and buildings: +€64,369
- Debts after one year -€52,301
down €52,301 (-4.9%), from €1.1m to €1.0m
- Reserves +€50,000
up €50,000 (+25.0%), from €200,000 to €250,000
- Other debts +€34,513
up €34,513 (+88.8%), from €38,888 to €73,401
- Tax, wage and social debts -€27,040
down €27,040 (-70.6%), from €38,309 to €11,270
of which Taxes: -€25,240
- Gross operating margin -€47,167
down €47,167 (-12.8%), from €367,548 to €320,381
- Taxes -€18,406
down €18,406 (-32.9%), from €55,909 to €37,503
- Depreciation +€16,683
up €16,683 (+13.2%), from €126,503 to €143,186
- Financial charges +€6,576
up €6,576 (+31.9%), from €20,610 to €27,185
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 | €1,831,784 | €1,855,766 | +€23,982 | +1.3% |
| Fixed assets | 21/28 | €1,514,921 | €1,634,083 | +€119,162 | +7.9% |
| Intangible fixed assets | 21 | - | €91,216 | +€91,216 | |
| Tangible fixed assets | 22/27 | €1,513,121 | €1,541,067 | +€27,946 | +1.8% |
| Land and buildings | 22 | €1,264,796 | €1,329,165 | +€64,369 | +5.1% |
| Plant, machinery and equipment | 23 | €188,469 | €168,781 | -€19,689 | -10.4% |
| Furniture and vehicles | 24 | €2,399 | €1,115 | -€1,283 | -53.5% |
| Leasing and similar rights | 25 | €57,457 | €42,005 | -€15,451 | -26.9% |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €316,863 | €221,683 | -€95,180 | -30.0% |
| Stocks and contracts in progress | 3 | €73,816 | €64,433 | -€9,383 | -12.7% |
| Stocks | 30/36 | €73,816 | €64,433 | -€9,383 | -12.7% |
| Amounts receivable within one year | 40/41 | €218,148 | €113,396 | -€104,752 | -48.0% |
| Trade receivables | 40 | €217,674 | €105,631 | -€112,043 | -51.5% |
| Other amounts receivable | 41 | €475 | €7,765 | +€7,291 | +1,536% |
| Cash at bank and in hand | 54/58 | €24,559 | €41,809 | +€17,250 | +70.2% |
| Deferred charges and accrued income | 490/1 | €341 | €2,046 | +€1,705 | +500% |
| Total equity and liabilities | 10/49 | €1,831,784 | €1,855,766 | +€23,982 | +1.3% |
| Equity | 10/15 | €340,546 | €392,993 | +€52,447 | +15.4% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €200,000 | €250,000 | +€50,000 | +25.0% |
| Distributable reserves | 133 | €200,000 | €250,000 | +€50,000 | +25.0% |
| Profit (loss) carried forward | 14 | €100,546 | €102,993 | +€2,447 | +2.4% |
| Amounts payable | 17/49 | €1,491,238 | €1,462,772 | -€28,465 | -1.9% |
| Amounts payable after more than one year | 17 | €1,070,515 | €1,018,213 | -€52,301 | -4.9% |
| Financial debts | 170/4 | €1,070,515 | €1,018,213 | -€52,301 | -4.9% |
| Amounts payable within one year | 42/48 | €419,988 | €441,199 | +€21,211 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €126,404 | €130,218 | +€3,814 | +3.0% |
| Trade debts | 44 | €216,387 | €226,309 | +€9,923 | +4.6% |
| Suppliers | 440/4 | €216,387 | €226,309 | +€9,923 | +4.6% |
| Taxes, remuneration and social security | 45 | €38,309 | €11,270 | -€27,040 | -70.6% |
| Taxes | 450/3 | €35,909 | €10,670 | -€25,240 | -70.3% |
| Remuneration and social security | 454/9 | €2,400 | €600 | -€1,800 | -75.0% |
| Other amounts payable | 47/48 | €38,888 | €73,401 | +€34,513 | +88.8% |
| Accrued charges and deferred income | 492/3 | €735 | €3,361 | +€2,626 | +357% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,503 | €143,186 | +€16,683 | +13.2% |
| Other operating charges | 640/8 | €8,473 | €10,515 | +€2,042 | +24.1% |
| Gross operating margin | 9900 | €367,548 | €320,381 | -€47,167 | -12.8% |
| Operating profit (loss) | 9901 | €232,572 | €166,680 | -€65,892 | -28.3% |
| Financial income | 75/76B | €199 | €456 | +€257 | +129% |
| Recurring financial income | 75 | €199 | €456 | +€257 | +129% |
| Financial charges | 65/66B | €20,610 | €27,185 | +€6,576 | +31.9% |
| Recurring financial charges | 65 | €20,610 | €27,185 | +€6,576 | +31.9% |
| Profit (loss) for the period before taxes | 9903 | €212,161 | €139,950 | -€72,211 | -34.0% |
| Income taxes | 67/77 | €55,909 | €37,503 | -€18,406 | -32.9% |
| Profit (loss) for the period | 9904 | €156,251 | €102,447 | -€53,804 | -34.4% |
| Profit (loss) for the period to be appropriated | 9905 | €156,251 | €102,447 | -€53,804 | -34.4% |
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 15 October 2026 via checked.be.