HAVI LEASE: 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.
HAVI LEASE
Largest movements
- Tangible fixed assets -€27,393
down €27,393 (-5.5%), from €495,202 to €467,809
of which Land and buildings: -€27,391
- Cash +€22,158
up €22,158 (+88.0%), from €25,178 to €47,336
mainly Net result for the year (+€32,011) and Depreciation (+€30,325)
- Reserves +€32,011
up €32,011 (+21.8%), from €146,822 to €178,833
of which Distributable reserves: +€38,040
- Debts after one year -€30,636
down €30,636 (-16.8%), from €181,926 to €151,290
- Gross operating margin +€21,222
up €21,222 (+29.0%), from €73,054 to €94,276
- Taxes +€5,097
up €5,097 (+52.7%), from €9,676 to €14,773
- Financial income -€1,352
down €1,352 (-100%), from €1,352 to €0
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 | €530,646 | €529,454 | -€1,192 | -0.2% |
| Fixed assets | 21/28 | €495,202 | €467,809 | -€27,393 | -5.5% |
| Tangible fixed assets | 22/27 | €495,202 | €467,809 | -€27,393 | -5.5% |
| Land and buildings | 22 | €476,801 | €449,410 | -€27,391 | -5.7% |
| Plant, machinery and equipment | 23 | €17,767 | €18,399 | +€632 | +3.6% |
| Furniture and vehicles | 24 | €633 | €0 | -€633 | -100% |
| Current assets | 29/58 | €35,444 | €61,645 | +€26,201 | +73.9% |
| Amounts receivable within one year | 40/41 | €10,266 | €14,308 | +€4,042 | +39.4% |
| Trade receivables | 40 | €9,133 | €12,744 | +€3,612 | +39.5% |
| Other amounts receivable | 41 | €1,133 | €1,564 | +€431 | +38.0% |
| Current investments | 50/53 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €25,178 | €47,336 | +€22,158 | +88.0% |
| Total equity and liabilities | 10/49 | €530,646 | €529,454 | -€1,192 | -0.2% |
| Equity | 10/15 | €301,756 | €333,766 | +€32,011 | +10.6% |
| Contributions | 10/11 | €154,933 | €154,933 | = | 0.0% |
| Capital | 10 | €154,933 | €154,933 | = | 0.0% |
| Issued capital | 100 | €154,933 | €154,933 | = | 0.0% |
| Reserves | 13 | €146,822 | €178,833 | +€32,011 | +21.8% |
| Non-distributable reserves | 130/1 | €2,959 | €4,961 | +€2,002 | +67.7% |
| Legal reserve | 130 | €2,959 | €4,961 | +€2,002 | +67.7% |
| Tax-exempt reserves | 132 | €104,038 | €96,006 | -€8,032 | -7.7% |
| Distributable reserves | 133 | €39,826 | €77,866 | +€38,040 | +95.5% |
| Provisions and deferred taxes | 16 | €20,808 | €19,201 | -€1,606 | -7.7% |
| Deferred taxes | 168 | €20,808 | €19,201 | -€1,606 | -7.7% |
| Amounts payable | 17/49 | €208,083 | €176,487 | -€31,596 | -15.2% |
| Amounts payable after more than one year | 17 | €181,926 | €151,290 | -€30,636 | -16.8% |
| Financial debts | 170/4 | €181,926 | €151,290 | -€30,636 | -16.8% |
| Amounts payable within one year | 42/48 | €26,157 | €25,197 | -€960 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €15,515 | €15,515 | = | 0.0% |
| Trade debts | 44 | €320 | €637 | +€318 | +99.5% |
| Suppliers | 440/4 | €320 | €637 | +€318 | +99.5% |
| Taxes, remuneration and social security | 45 | €10,322 | €8,751 | -€1,571 | -15.2% |
| Taxes | 450/3 | €10,322 | €8,751 | -€1,571 | -15.2% |
| Other amounts payable | 47/48 | - | €293 | +€293 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,225 | €30,325 | +€100 | +0.3% |
| Other operating charges | 640/8 | €11,849 | €12,219 | +€370 | +3.1% |
| Gross operating margin | 9900 | €73,054 | €94,276 | +€21,222 | +29.0% |
| Operating profit (loss) | 9901 | €30,979 | €51,732 | +€20,752 | +67.0% |
| Financial income | 75/76B | €1,352 | €0 | -€1,352 | -100% |
| Recurring financial income | 75 | €1,352 | €0 | -€1,352 | -100% |
| Financial charges | 65/66B | €7,010 | €6,555 | -€455 | -6.5% |
| Recurring financial charges | 65 | €7,010 | €6,555 | -€455 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €25,321 | €45,177 | +€19,856 | +78.4% |
| Transfer from deferred taxes | 780 | €1,606 | €1,606 | = | 0.0% |
| Income taxes | 67/77 | €9,676 | €14,773 | +€5,097 | +52.7% |
| Profit (loss) for the period | 9904 | €17,252 | €32,011 | +€14,758 | +85.5% |
| Transfer from tax-exempt reserves | 789 | €8,032 | €8,032 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,284 | €40,043 | +€14,758 | +58.4% |
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 27 October 2026 via checked.be.