HUVENA: 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.
HUVENA
Largest movements
- Tangible fixed assets +€1.5m
up €1.5m (+121.9%), from €1.2m to €2.7m
of which Land and buildings: +€1.5m
- Receivables within one year -€178,676
down €178,676 (-64.5%), from €277,025 to €98,349
of which Trade receivables: -€143,925
- Debts after one year +€985,345
up €985,345 (+174.9%), from €563,267 to €1.5m
- Other debts +€453,186
up €453,186 (+117.6%), from €385,403 to €838,589
- Reserves -€164,569
down €164,569 (-16.1%), from €1.0m to €860,204
- Current portion of long-term debt +€42,861
up €42,861 (+68.3%), from €62,718 to €105,579
- Financial income -€200,211
down €200,211 (-100.0%), from €200,222 to €10
- Gross operating margin -€180,915
down €180,915 (-70.3%), from €257,198 to €76,283
- Financial charges +€50,980
up €50,980 (+41.2%), from €123,826 to €174,806
- Taxes -€22,420
no longer reported in 2025 (was €22,420)
- Depreciation +€6,768
up €6,768 (+13.2%), from €51,373 to €58,141
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 | €2,185,966 | €3,494,722 | +€1.3m | +59.9% |
| Fixed assets | 21/28 | €1,879,542 | €3,382,487 | +€1.5m | +80.0% |
| Tangible fixed assets | 22/27 | €1,233,341 | €2,736,287 | +€1.5m | +121.9% |
| Land and buildings | 22 | €1,172,243 | €2,649,594 | +€1.5m | +126.0% |
| Plant, machinery and equipment | 23 | €8,369 | €28,154 | +€19,785 | +236.4% |
| Furniture and vehicles | 24 | €29,968 | €30,903 | +€935 | +3.1% |
| Other tangible fixed assets | 26 | €22,761 | €27,636 | +€4,875 | +21.4% |
| Financial fixed assets | 28 | €646,200 | €646,200 | = | 0.0% |
| Current assets | 29/58 | €306,424 | €112,235 | -€194,189 | -63.4% |
| Amounts receivable within one year | 40/41 | €277,025 | €98,349 | -€178,676 | -64.5% |
| Trade receivables | 40 | €214,625 | €70,700 | -€143,925 | -67.1% |
| Other amounts receivable | 41 | €62,400 | €27,649 | -€34,751 | -55.7% |
| Current investments | 50/53 | €20,842 | €850 | -€19,993 | -95.9% |
| Cash at bank and in hand | 54/58 | €7,146 | €11,213 | +€4,067 | +56.9% |
| Deferred charges and accrued income | 490/1 | €1,411 | €1,823 | +€412 | +29.2% |
| Total equity and liabilities | 10/49 | €2,185,966 | €3,494,722 | +€1.3m | +59.9% |
| Equity | 10/15 | €1,030,973 | €866,404 | -€164,569 | -16.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,024,773 | €860,204 | -€164,569 | -16.1% |
| Distributable reserves | 133 | €1,024,773 | €860,204 | -€164,569 | -16.1% |
| Amounts payable | 17/49 | €1,154,993 | €2,628,318 | +€1.5m | +127.6% |
| Amounts payable after more than one year | 17 | €563,267 | €1,548,612 | +€985,345 | +174.9% |
| Financial debts | 170/4 | €563,267 | €1,548,612 | +€985,345 | +174.9% |
| Amounts payable within one year | 42/48 | €586,201 | €1,074,224 | +€488,022 | +83.3% |
| Current portion of amounts payable after more than one year | 42 | €62,718 | €105,579 | +€42,861 | +68.3% |
| Financial debts | 43 | €133,452 | €125,000 | -€8,452 | -6.3% |
| Credit institutions | 430/8 | €133,452 | €125,000 | -€8,452 | -6.3% |
| Trade debts | 44 | €4,629 | €5,056 | +€427 | +9.2% |
| Suppliers | 440/4 | €4,629 | €5,056 | +€427 | +9.2% |
| Other amounts payable | 47/48 | €385,403 | €838,589 | +€453,186 | +117.6% |
| Accrued charges and deferred income | 492/3 | €5,524 | €5,482 | -€42 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,373 | €58,141 | +€6,768 | +13.2% |
| Other operating charges | 640/8 | €2,478 | €7,915 | +€5,437 | +219.4% |
| Gross operating margin | 9900 | €257,198 | €76,283 | -€180,915 | -70.3% |
| Operating profit (loss) | 9901 | €203,347 | €10,227 | -€193,120 | -95.0% |
| Financial income | 75/76B | €200,222 | €10 | -€200,211 | -100.0% |
| Recurring financial income | 75 | €200,222 | €10 | -€200,211 | -100.0% |
| Financial charges | 65/66B | €123,826 | €174,806 | +€50,980 | +41.2% |
| Recurring financial charges | 65 | €123,826 | €174,806 | +€50,980 | +41.2% |
| Profit (loss) for the period before taxes | 9903 | €279,743 | -€164,569 | -€444,312 | |
| Income taxes | 67/77 | €22,420 | - | -€22,420 | |
| Profit (loss) for the period | 9904 | €257,323 | -€164,569 | -€421,891 | |
| Profit (loss) for the period to be appropriated | 9905 | €257,323 | -€164,569 | -€421,891 |
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 10 October 2026 via checked.be.