HAVANI: 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.
HAVANI
Largest movements
- Financial fixed assets +€76,108
up €76,108 (+2,537%), from €3,000 to €79,108
- Receivables within one year -€36,188
down €36,188 (-77.5%), from €46,685 to €10,497
of which Trade receivables: -€36,188
- Cash +€21,226
up €21,226 (+19.8%), from €107,249 to €128,475
mainly Net result for the year (+€60,600) and Receivables within one year (+€36,188)
- Stocks and contracts +€8,321
up €8,321 (+125%), from €6,676 to €14,997
- Tangible fixed assets -€5,981
down €5,981 (-26.8%), from €22,291 to €16,310
of which Furniture and vehicles: -€7,282
- Reserves +€60,600
up €60,600 (+71.0%), from €85,322 to €145,922
- Other debts -€11,783
down €11,783 (-50.2%), from €23,461 to €11,678
- Advances received +€7,300
up €7,300 (+17.4%), from €41,974 to €49,274
- Trade debts +€6,546
up €6,546 (+91.4%), from €7,165 to €13,711
of which Bills of exchange payable: +€9,297
- Gross operating margin +€43,802
up €43,802 (+72.5%), from €60,444 to €104,246
- Taxes +€14,263
up €14,263 (+94.3%), from €15,128 to €29,391
- Financial income +€1,553
up €1,553 (+912%), from €170 to €1,724
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 | €191,728 | €252,098 | +€60,370 | +31.5% |
| Fixed assets | 21/28 | €30,120 | €97,360 | +€67,241 | +223% |
| Intangible fixed assets | 21 | €4,828 | €1,942 | -€2,886 | -59.8% |
| Tangible fixed assets | 22/27 | €22,291 | €16,310 | -€5,981 | -26.8% |
| Plant, machinery and equipment | 23 | €1,288 | €2,589 | +€1,301 | +101% |
| Furniture and vehicles | 24 | €21,004 | €13,721 | -€7,282 | -34.7% |
| Financial fixed assets | 28 | €3,000 | €79,108 | +€76,108 | +2,537% |
| Current assets | 29/58 | €161,608 | €154,737 | -€6,871 | -4.3% |
| Stocks and contracts in progress | 3 | €6,676 | €14,997 | +€8,321 | +125% |
| Stocks | 30/36 | €6,676 | €14,997 | +€8,321 | +125% |
| Amounts receivable within one year | 40/41 | €46,685 | €10,497 | -€36,188 | -77.5% |
| Trade receivables | 40 | €44,939 | €8,751 | -€36,188 | -80.5% |
| Other amounts receivable | 41 | €1,746 | €1,746 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €107,249 | €128,475 | +€21,226 | +19.8% |
| Deferred charges and accrued income | 490/1 | €998 | €768 | -€230 | -23.0% |
| Total equity and liabilities | 10/49 | €191,728 | €252,098 | +€60,370 | +31.5% |
| Equity | 10/15 | €103,922 | €164,522 | +€60,600 | +58.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €85,322 | €145,922 | +€60,600 | +71.0% |
| Distributable reserves | 133 | €85,322 | €145,922 | +€60,600 | +71.0% |
| Amounts payable | 17/49 | €87,806 | €87,576 | -€230 | -0.3% |
| Amounts payable within one year | 42/48 | €87,806 | €87,576 | -€230 | -0.3% |
| Trade debts | 44 | €7,165 | €13,711 | +€6,546 | +91.4% |
| Suppliers | 440/4 | €7,165 | €4,414 | -€2,751 | -38.4% |
| Bills of exchange payable | 441 | - | €9,297 | +€9,297 | |
| Advances received on contracts in progress | 46 | €41,974 | €49,274 | +€7,300 | +17.4% |
| Taxes, remuneration and social security | 45 | €15,206 | €12,914 | -€2,293 | -15.1% |
| Taxes | 450/3 | €15,206 | €12,914 | -€2,293 | -15.1% |
| Other amounts payable | 47/48 | €23,461 | €11,678 | -€11,783 | -50.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,040 | €13,048 | +€1,008 | +8.4% |
| Other operating charges | 640/8 | €2,209 | €1,999 | -€210 | -9.5% |
| Gross operating margin | 9900 | €60,444 | €104,246 | +€43,802 | +72.5% |
| Operating profit (loss) | 9901 | €46,195 | €89,199 | +€43,004 | +93.1% |
| Financial income | 75/76B | €170 | €1,724 | +€1,553 | +912% |
| Recurring financial income | 75 | €170 | €1,724 | +€1,553 | +912% |
| Financial charges | 65/66B | €1,478 | €932 | -€546 | -37.0% |
| Recurring financial charges | 65 | €1,478 | €932 | -€546 | -37.0% |
| Profit (loss) for the period before taxes | 9903 | €44,888 | €89,991 | +€45,103 | +100% |
| Income taxes | 67/77 | €15,128 | €29,391 | +€14,263 | +94.3% |
| Profit (loss) for the period | 9904 | €29,759 | €60,600 | +€30,840 | +104% |
| Profit (loss) for the period to be appropriated | 9905 | €29,759 | €60,600 | +€30,840 | +104% |
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 16 October 2026 via checked.be.