HAVANA DISTRIBUTION: 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.
HAVANA DISTRIBUTION
Largest movements
- Receivables within one year -€63,194
down €63,194 (-10.7%), from €588,366 to €525,172
of which Trade receivables: -€79,474
- Receivables after one year +€45,500
new in 2025: €45,500
- Tangible fixed assets +€42,453
up €42,453 (+83.7%), from €50,701 to €93,154
of which Furniture and vehicles: +€22,661
- Current investments +€30,004
up €30,004 (+109%), from €27,500 to €57,504
- Deferred charges and accrued income -€26,396
down €26,396 (-91.5%), from €28,846 to €2,450
- Profit (loss) carried forward +€72,130
up €72,130 (+95.8%), from €75,262 to €147,391
- Other debts -€33,000
down €33,000 (-100%), from €33,000 to €0
- Debts after one year -€24,655
down €24,655 (-35.1%), from €70,229 to €45,573
- Trade debts -€20,860
down €20,860 (-5.1%), from €411,062 to €390,202
- Tax, wage and social debts +€14,564
up €14,564 (+29.1%), from €50,105 to €64,669
of which Remuneration and social security: +€13,402
- Staff costs +€89,068
up €89,068 (+86.4%), from €103,106 to €192,174
- Gross operating margin +€49,295
up €49,295 (+18.5%), from €266,899 to €316,194
- Write-downs -€42,194
down €42,194, from €23,306 to -€18,888
- Taxes +€4,427
up €4,427 (+16.8%), from €26,351 to €30,778
- Depreciation +€3,905
up €3,905 (+20.0%), from €19,514 to €23,419
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 | €1,074,887 | €1,092,545 | +€17,658 | +1.6% |
| Fixed assets | 21/28 | €52,201 | €94,654 | +€42,453 | +81.3% |
| Tangible fixed assets | 22/27 | €50,701 | €93,154 | +€42,453 | +83.7% |
| Plant, machinery and equipment | 23 | €13,270 | €33,061 | +€19,791 | +149% |
| Furniture and vehicles | 24 | €37,432 | €60,093 | +€22,661 | +60.5% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €1,022,686 | €997,890 | -€24,795 | -2.4% |
| Amounts receivable after more than one year | 29 | - | €45,500 | +€45,500 | |
| Other amounts receivable | 291 | - | €45,500 | +€45,500 | |
| Stocks and contracts in progress | 3 | €195,098 | €183,454 | -€11,644 | -6.0% |
| Stocks | 30/36 | €195,098 | €183,454 | -€11,644 | -6.0% |
| Amounts receivable within one year | 40/41 | €588,366 | €525,172 | -€63,194 | -10.7% |
| Trade receivables | 40 | €516,170 | €436,696 | -€79,474 | -15.4% |
| Other amounts receivable | 41 | €72,197 | €88,476 | +€16,280 | +22.5% |
| Current investments | 50/53 | €27,500 | €57,504 | +€30,004 | +109% |
| Cash at bank and in hand | 54/58 | €182,875 | €183,809 | +€934 | +0.5% |
| Deferred charges and accrued income | 490/1 | €28,846 | €2,450 | -€26,396 | -91.5% |
| Total equity and liabilities | 10/49 | €1,074,887 | €1,092,545 | +€17,658 | +1.6% |
| Equity | 10/15 | €464,092 | €536,222 | +€72,130 | +15.5% |
| Contributions | 10/11 | €385,189 | €385,189 | = | 0.0% |
| Reserves | 13 | €3,642 | €3,642 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,642 | €3,642 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,642 | €3,642 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,262 | €147,391 | +€72,130 | +95.8% |
| Amounts payable | 17/49 | €610,795 | €556,323 | -€54,472 | -8.9% |
| Amounts payable after more than one year | 17 | €70,229 | €45,573 | -€24,655 | -35.1% |
| Financial debts | 170/4 | €70,229 | €45,573 | -€24,655 | -35.1% |
| Amounts payable within one year | 42/48 | €540,566 | €510,749 | -€29,817 | -5.5% |
| Current portion of amounts payable after more than one year | 42 | €46,399 | €55,878 | +€9,479 | +20.4% |
| Trade debts | 44 | €411,062 | €390,202 | -€20,860 | -5.1% |
| Suppliers | 440/4 | €411,062 | €390,202 | -€20,860 | -5.1% |
| Taxes, remuneration and social security | 45 | €50,105 | €64,669 | +€14,564 | +29.1% |
| Taxes | 450/3 | €41,704 | €42,866 | +€1,162 | +2.8% |
| Remuneration and social security | 454/9 | €8,401 | €21,803 | +€13,402 | +160% |
| Other amounts payable | 47/48 | €33,000 | €0 | -€33,000 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €4,353 | €718 | -€3,635 | -83.5% |
| Remuneration, social security and pensions | 62 | €103,106 | €192,174 | +€89,068 | +86.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,514 | €23,419 | +€3,905 | +20.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €23,306 | -€18,888 | -€42,194 | |
| Other operating charges | 640/8 | €7,887 | €9,064 | +€1,177 | +14.9% |
| Non-recurring operating charges | 66A | €13,066 | €118 | -€12,948 | -99.1% |
| Gross operating margin | 9900 | €266,899 | €316,194 | +€49,295 | +18.5% |
| Operating profit (loss) | 9901 | €100,020 | €110,307 | +€10,287 | +10.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €7,926 | €7,400 | -€526 | -6.6% |
| Recurring financial charges | 65 | €7,926 | €7,400 | -€526 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €92,094 | €102,907 | +€10,813 | +11.7% |
| Income taxes | 67/77 | €26,351 | €30,778 | +€4,427 | +16.8% |
| Profit (loss) for the period | 9904 | €65,744 | €72,130 | +€6,386 | +9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €65,744 | €72,130 | +€6,386 | +9.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.