HAVER: what changed
HAVER
Largest movements
- Current investments +€75,000
new in 2025: €75,000
- Cash -€66,919
down €66,919 (-48.9%), from €136,797 to €69,878
mainly Current investments (-€75,000) and Investment in fixed assets (net) (-€25,000)
- Financial fixed assets +€25,000
new in 2025: €25,000
- Receivables within one year -€7,775
down €7,775 (-39.1%), from €19,886 to €12,110
of which Trade receivables: -€8,386
- Reserves +€33,587
up €33,587 (+31.3%), from €107,172 to €140,759
- Tax, wage and social debts -€9,705
down €9,705 (-40.3%), from €24,055 to €14,350
of which Taxes: -€5,916
- Trade debts +€1,952
up €1,952 (+178%), from €1,099 to €3,051
- Gross operating margin -€10,028
down €10,028 (-17.0%), from €58,914 to €48,886
- Taxes -€2,561
down €2,561 (-15.8%), from €16,161 to €13,601
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €159,160 | €183,737 | +€24,577 | +15.4% |
| Fixed assets | 21/28 | €2,478 | €26,749 | +€24,271 | +980% |
| Tangible fixed assets | 22/27 | €2,478 | €1,749 | -€729 | -29.4% |
| Plant, machinery and equipment | 23 | €1,811 | €1,582 | -€229 | -12.6% |
| Furniture and vehicles | 24 | €667 | €167 | -€500 | -75.0% |
| Financial fixed assets | 28 | - | €25,000 | +€25,000 | |
| Current assets | 29/58 | €156,683 | €156,988 | +€306 | +0.2% |
| Amounts receivable within one year | 40/41 | €19,886 | €12,110 | -€7,775 | -39.1% |
| Trade receivables | 40 | €19,876 | €11,490 | -€8,386 | -42.2% |
| Other amounts receivable | 41 | €9 | €620 | +€611 | +6,523% |
| Current investments | 50/53 | - | €75,000 | +€75,000 | |
| Cash at bank and in hand | 54/58 | €136,797 | €69,878 | -€66,919 | -48.9% |
| Total equity and liabilities | 10/49 | €159,160 | €183,737 | +€24,577 | +15.4% |
| Equity | 10/15 | €113,372 | €146,959 | +€33,587 | +29.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €107,172 | €140,759 | +€33,587 | +31.3% |
| Distributable reserves | 133 | €107,172 | €140,759 | +€33,587 | +31.3% |
| Amounts payable | 17/49 | €45,788 | €36,779 | -€9,010 | -19.7% |
| Amounts payable within one year | 42/48 | €45,788 | €36,779 | -€9,010 | -19.7% |
| Trade debts | 44 | €1,099 | €3,051 | +€1,952 | +178% |
| Suppliers | 440/4 | €1,099 | €3,051 | +€1,952 | +178% |
| Taxes, remuneration and social security | 45 | €24,055 | €14,350 | -€9,705 | -40.3% |
| Taxes | 450/3 | €20,266 | €14,350 | -€5,916 | -29.2% |
| Remuneration and social security | 454/9 | €3,789 | - | -€3,789 | |
| Other amounts payable | 47/48 | €20,634 | €19,377 | -€1,257 | -6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €729 | €729 | = | 0.0% |
| Other operating charges | 640/8 | €1,136 | €1,368 | +€232 | +20.4% |
| Gross operating margin | 9900 | €58,914 | €48,886 | -€10,028 | -17.0% |
| Operating profit (loss) | 9901 | €57,050 | €46,790 | -€10,260 | -18.0% |
| Financial income | 75/76B | €522 | €402 | -€120 | -23.0% |
| Recurring financial income | 75 | €522 | €402 | -€120 | -23.0% |
| Financial charges | 65/66B | €132 | €4 | -€128 | -96.8% |
| Recurring financial charges | 65 | €132 | €4 | -€128 | -96.8% |
| Profit (loss) for the period before taxes | 9903 | €57,439 | €47,187 | -€10,252 | -17.8% |
| Income taxes | 67/77 | €16,161 | €13,601 | -€2,561 | -15.8% |
| Profit (loss) for the period | 9904 | €41,278 | €33,587 | -€7,691 | -18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €41,278 | €33,587 | -€7,691 | -18.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.