HAVERALS: 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.
HAVERALS
Largest movements
- Receivables within one year -€46,554
down €46,554 (-40.8%), from €114,117 to €67,563
of which Other amounts receivable: -€30,009
- Receivables after one year -€30,000
no longer reported in 2025 (was €30,000)
- Tangible fixed assets -€18,033
down €18,033 (-3.0%), from €600,845 to €582,812
of which Land and buildings: -€11,378
- Other debts -€71,675
down €71,675 (-69.3%), from €103,482 to €31,807
- Debts after one year -€24,404
down €24,404 (-8.7%), from €279,752 to €255,348
- Reserves +€23,135
up €23,135 (+6.5%), from €355,860 to €378,995
of which Distributable reserves: +€23,135
- Trade debts -€14,862
down €14,862 (-80.4%), from €18,477 to €3,615
- Tax, wage and social debts -€8,971
down €8,971 (-81.5%), from €11,009 to €2,038
- Gross operating margin -€19,813
down €19,813 (-22.1%), from €89,492 to €69,679
- Taxes -€6,487
down €6,487 (-40.1%), from €16,178 to €9,691
- Other operating charges +€2,868
up €2,868 (+209%), from €1,375 to €4,243
- Financial income -€1,309
down €1,309 (-99.5%), from €1,316 to €6
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 | €806,974 | €709,979 | -€96,995 | -12.0% |
| Fixed assets | 21/28 | €600,845 | €582,812 | -€18,033 | -3.0% |
| Tangible fixed assets | 22/27 | €600,845 | €582,812 | -€18,033 | -3.0% |
| Land and buildings | 22 | €585,814 | €574,436 | -€11,378 | -1.9% |
| Plant, machinery and equipment | 23 | €3,623 | €1,712 | -€1,911 | -52.8% |
| Furniture and vehicles | 24 | €7,141 | €2,397 | -€4,744 | -66.4% |
| Other tangible fixed assets | 26 | €4,267 | €4,267 | = | 0.0% |
| Current assets | 29/58 | €206,129 | €127,167 | -€78,962 | -38.3% |
| Amounts receivable after more than one year | 29 | €30,000 | - | -€30,000 | |
| Other amounts receivable | 291 | €30,000 | - | -€30,000 | |
| Amounts receivable within one year | 40/41 | €114,117 | €67,563 | -€46,554 | -40.8% |
| Trade receivables | 40 | €60,415 | €43,870 | -€16,545 | -27.4% |
| Other amounts receivable | 41 | €53,702 | €23,693 | -€30,009 | -55.9% |
| Cash at bank and in hand | 54/58 | €58,583 | €57,752 | -€831 | -1.4% |
| Deferred charges and accrued income | 490/1 | €3,429 | €1,852 | -€1,577 | -46.0% |
| Total equity and liabilities | 10/49 | €806,974 | €709,979 | -€96,995 | -12.0% |
| Equity | 10/15 | €362,060 | €385,195 | +€23,135 | +6.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €355,860 | €378,995 | +€23,135 | +6.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €354,000 | €377,135 | +€23,135 | +6.5% |
| Amounts payable | 17/49 | €444,915 | €324,784 | -€120,130 | -27.0% |
| Amounts payable after more than one year | 17 | €279,752 | €255,348 | -€24,404 | -8.7% |
| Financial debts | 170/4 | €279,752 | €255,348 | -€24,404 | -8.7% |
| Amounts payable within one year | 42/48 | €161,320 | €66,115 | -€95,205 | -59.0% |
| Current portion of amounts payable after more than one year | 42 | €24,089 | €24,404 | +€315 | +1.3% |
| Financial debts | 43 | €4,262 | €4,250 | -€12 | -0.3% |
| Credit institutions | 430/8 | €4,262 | €4,250 | -€12 | -0.3% |
| Trade debts | 44 | €18,477 | €3,615 | -€14,862 | -80.4% |
| Suppliers | 440/4 | €18,477 | €3,615 | -€14,862 | -80.4% |
| Taxes, remuneration and social security | 45 | €11,009 | €2,038 | -€8,971 | -81.5% |
| Taxes | 450/3 | €11,009 | €2,038 | -€8,971 | -81.5% |
| Other amounts payable | 47/48 | €103,482 | €31,807 | -€71,675 | -69.3% |
| Accrued charges and deferred income | 492/3 | €3,843 | €3,322 | -€521 | -13.6% |
| Non-recurring operating income | 76A | €521 | €2,526 | +€2,004 | +384% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,227 | €27,789 | -€437 | -1.5% |
| Other operating charges | 640/8 | €1,375 | €4,243 | +€2,868 | +209% |
| Gross operating margin | 9900 | €89,492 | €69,679 | -€19,813 | -22.1% |
| Operating profit (loss) | 9901 | €59,890 | €37,646 | -€22,244 | -37.1% |
| Financial income | 75/76B | €1,316 | €6 | -€1,309 | -99.5% |
| Recurring financial income | 75 | €1,316 | €6 | -€1,309 | -99.5% |
| Financial charges | 65/66B | €5,322 | €4,826 | -€496 | -9.3% |
| Recurring financial charges | 65 | €5,322 | €4,826 | -€496 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €55,884 | €32,826 | -€23,058 | -41.3% |
| Income taxes | 67/77 | €16,178 | €9,691 | -€6,487 | -40.1% |
| Profit (loss) for the period | 9904 | €39,705 | €23,135 | -€16,571 | -41.7% |
| Profit (loss) for the period to be appropriated | 9905 | €39,705 | €23,135 | -€16,571 | -41.7% |
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 14 October 2026 via checked.be.