IMMO VAN HAVERMAET: 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.
IMMO VAN HAVERMAET
Largest movements
- Current investments -€631,225
no longer reported in 2025 (was €631,225)
- Cash +€340,978
up €340,978 (+700%), from €48,728 to €389,705
mainly Debts after one year (+€1.6m) and Net result for the year (+€739,834)
- Receivables within one year +€219,203
up €219,203 (+12.0%), from €1.8m to €2.0m
of which Other amounts receivable: +€219,400
- Tangible fixed assets -€85,661
down €85,661 (-5.1%), from €1.7m to €1.6m
- Other debts -€2.1m
down €2.1m (-99.9%), from €2.1m to €1,642
- Debts after one year +€1.6m
up €1.6m (+444%), from €352,204 to €1.9m
- Reserves +€739,834
up €739,834 (+26.8%), from €2.8m to €3.5m
of which Distributable reserves: +€1.2m
- Short-term financial debts -€350,082
down €350,082 (-94.5%), from €370,289 to €20,207
- Financial income +€345,057
up €345,057 (+384%), from €89,756 to €434,813
of which Non-recurring financial income: +€360,429
- Financial charges -€24,986
down €24,986 (-22.5%), from €111,211 to €86,224
- Gross operating margin +€24,582
up €24,582 (+4.1%), from €599,545 to €624,128
- Depreciation -€20,951
down €20,951 (-19.7%), from €106,613 to €85,661
- Taxes -€17,800
down €17,800 (-17.3%), from €102,783 to €84,983
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 | €5,975,407 | €5,846,182 | -€129,226 | -2.2% |
| Fixed assets | 21/28 | €2,245,038 | €2,159,376 | -€85,661 | -3.8% |
| Tangible fixed assets | 22/27 | €1,667,638 | €1,581,976 | -€85,661 | -5.1% |
| Land and buildings | 22 | €1,667,638 | €1,581,976 | -€85,661 | -5.1% |
| Financial fixed assets | 28 | €577,400 | €577,400 | = | 0.0% |
| Current assets | 29/58 | €3,730,369 | €3,686,805 | -€43,564 | -1.2% |
| Amounts receivable after more than one year | 29 | €1,182,051 | €1,209,829 | +€27,778 | +2.3% |
| Other amounts receivable | 291 | €1,182,051 | €1,209,829 | +€27,778 | +2.3% |
| Amounts receivable within one year | 40/41 | €1,821,462 | €2,040,665 | +€219,203 | +12.0% |
| Trade receivables | 40 | €197 | - | -€197 | |
| Other amounts receivable | 41 | €1,821,265 | €2,040,665 | +€219,400 | +12.0% |
| Current investments | 50/53 | €631,225 | - | -€631,225 | |
| Cash at bank and in hand | 54/58 | €48,728 | €389,705 | +€340,978 | +700% |
| Deferred charges and accrued income | 490/1 | €46,904 | €46,606 | -€298 | -0.6% |
| Total equity and liabilities | 10/49 | €5,975,407 | €5,846,182 | -€129,226 | -2.2% |
| Equity | 10/15 | €2,825,440 | €3,565,274 | +€739,834 | +26.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €2,763,940 | €3,503,774 | +€739,834 | +26.8% |
| Non-distributable reserves | 130/1 | €469,535 | €6,150 | -€463,385 | -98.7% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Own shares acquired | 1312 | €463,385 | - | -€463,385 | |
| Distributable reserves | 133 | €2,294,405 | €3,497,624 | +€1.2m | +52.4% |
| Amounts payable | 17/49 | €3,149,967 | €2,280,908 | -€869,059 | -27.6% |
| Amounts payable after more than one year | 17 | €352,204 | €1,915,169 | +€1.6m | +444% |
| Financial debts | 170/4 | €352,204 | €1,915,169 | +€1.6m | +444% |
| Amounts payable within one year | 42/48 | €2,721,197 | €309,813 | -€2.4m | -88.6% |
| Current portion of amounts payable after more than one year | 42 | €260,782 | €286,966 | +€26,184 | +10.0% |
| Financial debts | 43 | €370,289 | €20,207 | -€350,082 | -94.5% |
| Credit institutions | 430/8 | €370,289 | €20,207 | -€350,082 | -94.5% |
| Trade debts | 44 | €163 | €998 | +€835 | +512% |
| Suppliers | 440/4 | €163 | €998 | +€835 | +512% |
| Taxes, remuneration and social security | 45 | €20,015 | - | -€20,015 | |
| Taxes | 450/3 | €20,015 | - | -€20,015 | |
| Other amounts payable | 47/48 | €2,069,948 | €1,642 | -€2.1m | -99.9% |
| Accrued charges and deferred income | 492/3 | €76,566 | €55,926 | -€20,640 | -27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,613 | €85,661 | -€20,951 | -19.7% |
| Other operating charges | 640/8 | €60,345 | €62,238 | +€1,893 | +3.1% |
| Gross operating margin | 9900 | €599,545 | €624,128 | +€24,582 | +4.1% |
| Operating profit (loss) | 9901 | €432,588 | €476,229 | +€43,641 | +10.1% |
| Financial income | 75/76B | €89,756 | €434,813 | +€345,057 | +384% |
| Recurring financial income | 75 | €89,756 | €74,384 | -€15,372 | -17.1% |
| Non-recurring financial income | 76B | - | €360,429 | +€360,429 | |
| Financial charges | 65/66B | €111,211 | €86,224 | -€24,986 | -22.5% |
| Recurring financial charges | 65 | €111,211 | €86,224 | -€24,986 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | €411,133 | €824,817 | +€413,684 | +101% |
| Income taxes | 67/77 | €102,783 | €84,983 | -€17,800 | -17.3% |
| Profit (loss) for the period | 9904 | €308,350 | €739,834 | +€431,484 | +140% |
| Profit (loss) for the period to be appropriated | 9905 | €308,350 | €739,834 | +€431,484 | +140% |
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 1 November 2026 via checked.be.