HAVETRA: 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.
HAVETRA
Largest movements
- Receivables within one year -€331,719
down €331,719 (-53.0%), from €625,364 to €293,645
of which Trade receivables: -€322,536
- Cash +€314,317
up €314,317 (+405.6%), from €77,496 to €391,814
mainly Receivables within one year (+€331,719) and Net result for the year (+€87,083)
- Reserves +€78,000
up €78,000 (+46.6%), from €167,527 to €245,527
of which Distributable reserves: +€78,000
- Trade debts -€47,361
down €47,361 (-31.7%), from €149,208 to €101,847
- Tax, wage and social debts -€36,155
down €36,155 (-43.7%), from €82,758 to €46,603
of which Taxes: -€41,748
- Current portion of long-term debt -€19,034
down €19,034 (-100.0%), from €19,034 to €0
- Accrued charges and deferred income +€17,059
up €17,059 (+79.3%), from €21,500 to €38,559
- Financial charges +€7,841
up €7,841 (+58.5%), from €13,393 to €21,234
- Depreciation -€6,804
down €6,804 (-10.8%), from €62,766 to €55,961
- Gross operating margin -€4,485
down €4,485 (-1.3%), from €343,473 to €338,988
- Taxes -€3,473
down €3,473 (-10.4%), from €33,551 to €30,078
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 | €914,329 | €893,966 | -€20,364 | -2.2% |
| Fixed assets | 21/28 | €176,131 | €182,385 | +€6,254 | +3.6% |
| Tangible fixed assets | 22/27 | €175,676 | €181,930 | +€6,254 | +3.6% |
| Plant, machinery and equipment | 23 | €2,097 | €3,235 | +€1,138 | +54.3% |
| Furniture and vehicles | 24 | €156,377 | €163,920 | +€7,542 | +4.8% |
| Other tangible fixed assets | 26 | €17,201 | €14,775 | -€2,427 | -14.1% |
| Financial fixed assets | 28 | €455 | €455 | = | 0.0% |
| Current assets | 29/58 | €738,198 | €711,581 | -€26,617 | -3.6% |
| Stocks and contracts in progress | 3 | €5,000 | €0 | -€5,000 | -100.0% |
| Stocks | 30/36 | €5,000 | €0 | -€5,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €625,364 | €293,645 | -€331,719 | -53.0% |
| Trade receivables | 40 | €615,716 | €293,180 | -€322,536 | -52.4% |
| Other amounts receivable | 41 | €9,649 | €465 | -€9,184 | -95.2% |
| Cash at bank and in hand | 54/58 | €77,496 | €391,814 | +€314,317 | +405.6% |
| Deferred charges and accrued income | 490/1 | €30,338 | €26,123 | -€4,215 | -13.9% |
| Total equity and liabilities | 10/49 | €914,329 | €893,966 | -€20,364 | -2.2% |
| Equity | 10/15 | €209,798 | €287,880 | +€78,083 | +37.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €167,527 | €245,527 | +€78,000 | +46.6% |
| Non-distributable reserves | 130/1 | €1,427 | €1,427 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,427 | €1,427 | = | 0.0% |
| Tax-exempt reserves | 132 | €40,000 | €40,000 | = | 0.0% |
| Distributable reserves | 133 | €126,100 | €204,100 | +€78,000 | +61.9% |
| Profit (loss) carried forward | 14 | €23,671 | €23,753 | +€83 | +0.3% |
| Amounts payable | 17/49 | €704,532 | €606,086 | -€98,446 | -14.0% |
| Amounts payable after more than one year | 17 | €310,000 | €310,000 | = | 0.0% |
| Financial debts | 170/4 | €40,000 | €40,000 | = | 0.0% |
| Other amounts payable | 178/9 | €270,000 | €270,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €373,032 | €257,526 | -€115,505 | -31.0% |
| Current portion of amounts payable after more than one year | 42 | €19,034 | €0 | -€19,034 | -100.0% |
| Trade debts | 44 | €149,208 | €101,847 | -€47,361 | -31.7% |
| Suppliers | 440/4 | €149,208 | €101,847 | -€47,361 | -31.7% |
| Taxes, remuneration and social security | 45 | €82,758 | €46,603 | -€36,155 | -43.7% |
| Taxes | 450/3 | €67,275 | €25,526 | -€41,748 | -62.1% |
| Remuneration and social security | 454/9 | €15,483 | €21,077 | +€5,594 | +36.1% |
| Other amounts payable | 47/48 | €122,032 | €109,076 | -€12,956 | -10.6% |
| Accrued charges and deferred income | 492/3 | €21,500 | €38,559 | +€17,059 | +79.3% |
| Remuneration, social security and pensions | 62 | €139,134 | €142,313 | +€3,179 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,766 | €55,961 | -€6,804 | -10.8% |
| Other operating charges | 640/8 | €3,642 | €3,101 | -€541 | -14.8% |
| Gross operating margin | 9900 | €343,473 | €338,988 | -€4,485 | -1.3% |
| Operating profit (loss) | 9901 | €137,932 | €137,614 | -€318 | -0.2% |
| Financial income | 75/76B | €304 | €781 | +€478 | +157.4% |
| Recurring financial income | 75 | €304 | €781 | +€478 | +157.4% |
| Financial charges | 65/66B | €13,393 | €21,234 | +€7,841 | +58.5% |
| Recurring financial charges | 65 | €13,393 | €21,234 | +€7,841 | +58.5% |
| Profit (loss) for the period before taxes | 9903 | €124,842 | €117,161 | -€7,682 | -6.2% |
| Income taxes | 67/77 | €33,551 | €30,078 | -€3,473 | -10.4% |
| Profit (loss) for the period | 9904 | €91,291 | €87,083 | -€4,208 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €91,291 | €87,083 | -€4,208 | -4.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.