HAVEMA: 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.
HAVEMA
Largest movements
- Tangible fixed assets -€5,821
down €5,821 (-2.9%), from €198,076 to €192,255
of which Land and buildings: -€5,651
- Cash -€3,828
down €3,828 (-5.9%), from €64,794 to €60,966
mainly Other debts (-€42,969) and Debts after one year (-€26,024)
- Reserves +€58,129
up €58,129 (+45.3%), from €128,319 to €186,448
- Other debts -€42,969
down €42,969 (-99.8%), from €43,075 to €106
- Debts after one year -€26,024
down €26,024 (-85.6%), from €30,392 to €4,368
- Gross operating margin +€5,080
up €5,080 (+6.1%), from €83,187 to €88,267
- Taxes +€1,116
up €1,116 (+5.3%), from €20,944 to €22,059
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 | €263,071 | €254,235 | -€8,836 | -3.4% |
| Fixed assets | 21/28 | €198,276 | €192,455 | -€5,821 | -2.9% |
| Tangible fixed assets | 22/27 | €198,076 | €192,255 | -€5,821 | -2.9% |
| Land and buildings | 22 | €197,751 | €192,100 | -€5,651 | -2.9% |
| Furniture and vehicles | 24 | €325 | €155 | -€170 | -52.2% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €64,794 | €61,780 | -€3,015 | -4.7% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €64,794 | €60,966 | -€3,828 | -5.9% |
| Deferred charges and accrued income | 490/1 | - | €813 | +€813 | |
| Total equity and liabilities | 10/49 | €263,071 | €254,235 | -€8,836 | -3.4% |
| Equity | 10/15 | €146,919 | €205,048 | +€58,129 | +39.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €128,319 | €186,448 | +€58,129 | +45.3% |
| Distributable reserves | 133 | €128,319 | €186,448 | +€58,129 | +45.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €116,151 | €49,187 | -€66,964 | -57.7% |
| Amounts payable after more than one year | 17 | €30,392 | €4,368 | -€26,024 | -85.6% |
| Financial debts | 170/4 | €30,392 | €4,368 | -€26,024 | -85.6% |
| Amounts payable within one year | 42/48 | €84,882 | €43,893 | -€40,989 | -48.3% |
| Current portion of amounts payable after more than one year | 42 | €25,710 | €26,024 | +€315 | +1.2% |
| Trade debts | 44 | €1,015 | €203 | -€812 | -80.0% |
| Suppliers | 440/4 | €1,015 | €203 | -€812 | -80.0% |
| Taxes, remuneration and social security | 45 | €15,083 | €17,560 | +€2,477 | +16.4% |
| Taxes | 450/3 | €15,083 | €15,367 | +€284 | +1.9% |
| Remuneration and social security | 454/9 | - | €2,193 | +€2,193 | |
| Other amounts payable | 47/48 | €43,075 | €106 | -€42,969 | -99.8% |
| Accrued charges and deferred income | 492/3 | €877 | €926 | +€49 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,929 | €5,821 | -€108 | -1.8% |
| Other operating charges | 640/8 | €1,105 | €1,585 | +€480 | +43.5% |
| Gross operating margin | 9900 | €83,187 | €88,267 | +€5,080 | +6.1% |
| Operating profit (loss) | 9901 | €76,153 | €80,861 | +€4,708 | +6.2% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €1,070 | €673 | -€397 | -37.1% |
| Recurring financial charges | 65 | €1,070 | €673 | -€397 | -37.1% |
| Profit (loss) for the period before taxes | 9903 | €75,084 | €80,188 | +€5,104 | +6.8% |
| Income taxes | 67/77 | €20,944 | €22,059 | +€1,116 | +5.3% |
| Profit (loss) for the period | 9904 | €54,140 | €58,129 | +€3,989 | +7.4% |
| Profit (loss) for the period to be appropriated | 9905 | €54,140 | €58,129 | +€3,989 | +7.4% |
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 6 October 2026 via checked.be.