Havian: 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.
What changed
Havian
NACE 46.321, Wholesale of meat and meat products, excluding game and poultry
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€234,345
2024 · €208,591+€25,755
Equity
€706,262
2024 · €609,617+€96,645
Cash
€37,157
2024 · €49,613-€12,456
Balance sheet total
€2.8m
2024 · €2.4m+€462,025
Largest movements
Assets
- Receivables within one year +€381,865
up €381,865 (+21.7%), from €1.8m to €2.1m
of which Trade receivables: +€315,885
- Stocks and contracts +€68,029
up €68,029 (+44.1%), from €154,136 to €222,166
Equity and liabilities
- Trade debts +€345,571
up €345,571 (+43.3%), from €798,782 to €1.1m
- Reserves +€117,300
up €117,300 (+20.6%), from €570,012 to €687,312
of which Distributable reserves: +€117,300
- Current portion of long-term debt -€38,394
down €38,394 (-13.2%), from €290,487 to €252,092
- Tax, wage and social debts +€32,829
up €32,829 (+27.5%), from €119,525 to €152,353
of which Taxes: +€52,526
Income statement
- Staff costs -€71,351
down €71,351 (-10.1%), from €706,295 to €634,943
- Other operating charges +€37,467
up €37,467 (+154%), from €24,317 to €61,785
- Gross operating margin +€24,607
up €24,607 (+2.1%), from €1.2m to €1.2m
- Financial charges +€20,894
up €20,894 (+73.0%), from €28,640 to €49,534
- Taxes +€18,152
up €18,152 (+20.1%), from €90,215 to €108,367
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.
Result 2024
€208,591
Gross operating margin
+€24,607
Staff costs
+€71,351
Depreciation
-€11,559
Write-downs
+€568
Other operating charges
-€37,467
Financial income
+€17,300
Financial charges
-€20,894
Taxes
-€18,152
Result 2025
€234,345
raises the resultlowers the result
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.
From operations
+€232,544
Investment
-€94,280
Financing
-€150,720
Cash 2024
€49,613
From operations (derived)
+€232,544
Net result for the year
+€234,345
Depreciation
+€82,128
Receivables after one year
-€5,000
Stocks and contracts
-€68,029
Receivables within one year
-€381,865
Deferred charges and accrued income
-€7,435
Trade debts
+€345,571
Tax, wage and social debts
+€32,829
Investment (derived)
-€94,280
Investment in fixed assets (net)
-€94,280
Financing
-€150,720
Debts after one year
+€4,006
Current portion of long-term debt
-€38,394
Short-term financial debts
+€21,368
Contributions, distributions and other
-€137,700
Cash 2025
€37,157
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,365,543 | €2,827,568 | +€462,025 | +19.5% |
| Fixed assets | 21/28 | €175,024 | €187,175 | +€12,152 | +6.9% |
| Tangible fixed assets | 22/27 | €169,510 | €184,697 | +€15,187 | +9.0% |
| Plant, machinery and equipment | 23 | €13,271 | €5,336 | -€7,935 | -59.8% |
| Furniture and vehicles | 24 | €91,542 | €107,380 | +€15,837 | +17.3% |
| Leasing and similar rights | 25 | €64,696 | €71,981 | +€7,285 | +11.3% |
| Financial fixed assets | 28 | €5,514 | €2,479 | -€3,035 | -55.0% |
| Current assets | 29/58 | €2,190,519 | €2,640,392 | +€449,873 | +20.5% |
| Amounts receivable after more than one year | 29 | €218,250 | €223,250 | +€5,000 | +2.3% |
| Other amounts receivable | 291 | €218,250 | €223,250 | +€5,000 | +2.3% |
| Stocks and contracts in progress | 3 | €154,136 | €222,166 | +€68,029 | +44.1% |
| Stocks | 30/36 | €154,136 | €222,166 | +€68,029 | +44.1% |
| Amounts receivable within one year | 40/41 | €1,755,963 | €2,137,828 | +€381,865 | +21.7% |
| Trade receivables | 40 | €1,533,589 | €1,849,475 | +€315,885 | +20.6% |
| Other amounts receivable | 41 | €222,373 | €288,353 | +€65,979 | +29.7% |
| Cash at bank and in hand | 54/58 | €49,613 | €37,157 | -€12,456 | -25.1% |
| Deferred charges and accrued income | 490/1 | €12,557 | €19,992 | +€7,435 | +59.2% |
| Total equity and liabilities | 10/49 | €2,365,543 | €2,827,568 | +€462,025 | +19.5% |
| Equity | 10/15 | €609,617 | €706,262 | +€96,645 | +15.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €570,012 | €687,312 | +€117,300 | +20.6% |
| Tax-exempt reserves | 132 | €20,952 | €20,952 | = | 0.0% |
| Distributable reserves | 133 | €549,060 | €666,360 | +€117,300 | +21.4% |
| Profit (loss) carried forward | 14 | €21,013 | €359 | -€20,655 | -98.3% |
| Amounts payable | 17/49 | €1,755,926 | €2,121,306 | +€365,380 | +20.8% |
| Amounts payable after more than one year | 17 | €226,904 | €230,911 | +€4,006 | +1.8% |
| Financial debts | 170/4 | €226,904 | €230,911 | +€4,006 | +1.8% |
| Amounts payable within one year | 42/48 | €1,529,022 | €1,890,395 | +€361,373 | +23.6% |
| Current portion of amounts payable after more than one year | 42 | €290,487 | €252,092 | -€38,394 | -13.2% |
| Financial debts | 43 | €290,228 | €311,597 | +€21,368 | +7.4% |
| Credit institutions | 430/8 | €290,228 | €311,597 | +€21,368 | +7.4% |
| Trade debts | 44 | €798,782 | €1,144,352 | +€345,571 | +43.3% |
| Suppliers | 440/4 | €798,782 | €1,144,352 | +€345,571 | +43.3% |
| Taxes, remuneration and social security | 45 | €119,525 | €152,353 | +€32,829 | +27.5% |
| Taxes | 450/3 | €68,282 | €120,808 | +€52,526 | +76.9% |
| Remuneration and social security | 454/9 | €51,243 | €31,546 | -€19,697 | -38.4% |
| Other amounts payable | 47/48 | €30,000 | €30,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €706,295 | €634,943 | -€71,351 | -10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,569 | €82,128 | +€11,559 | +16.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €61,972 | €61,404 | -€568 | -0.9% |
| Other operating charges | 640/8 | €24,317 | €61,785 | +€37,467 | +154% |
| Gross operating margin | 9900 | €1,183,010 | €1,207,617 | +€24,607 | +2.1% |
| Operating profit (loss) | 9901 | €319,857 | €367,357 | +€47,500 | +14.9% |
| Financial income | 75/76B | €7,589 | €24,889 | +€17,300 | +228% |
| Recurring financial income | 75 | €7,589 | €24,889 | +€17,300 | +228% |
| Financial charges | 65/66B | €28,640 | €49,534 | +€20,894 | +73.0% |
| Recurring financial charges | 65 | €28,640 | €49,534 | +€20,894 | +73.0% |
| Profit (loss) for the period before taxes | 9903 | €298,806 | €342,712 | +€43,906 | +14.7% |
| Income taxes | 67/77 | €90,215 | €108,367 | +€18,152 | +20.1% |
| Profit (loss) for the period | 9904 | €208,591 | €234,345 | +€25,755 | +12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €208,591 | €234,345 | +€25,755 | +12.3% |
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 15 October 2026 via checked.be.