Van Havere Projects: what changed
Van Havere Projects
Largest movements
- Cash -€189,522
down €189,522 (-62.3%), from €304,296 to €114,774
mainly Contributions, distributions and other (-€285,362) and Other debts (-€49,361)
- Receivables within one year -€108,738
down €108,738 (-39.9%), from €272,622 to €163,884
of which Trade receivables: -€93,157
- Tangible fixed assets -€35,029
down €35,029 (-12.1%), from €288,716 to €253,687
of which Furniture and vehicles: -€23,474
- Stocks and contracts -€14,419
down €14,419 (-14.7%), from €98,178 to €83,759
- Reserves -€205,933
down €205,933 (-35.8%), from €575,200 to €369,267
of which Distributable reserves: -€205,933
- Other debts -€49,361
down €49,361 (-100%), from €49,361 to €0
- Trade debts -€48,872
down €48,872 (-63.8%), from €76,603 to €27,731
- Debts after one year -€36,398
down €36,398 (-19.9%), from €182,663 to €146,265
- Staff costs -€119,407
down €119,407 (-33.3%), from €358,167 to €238,760
- Gross operating margin -€54,266
down €54,266 (-11.9%), from €454,334 to €400,068
- Taxes +€10,624
up €10,624 (+53.9%), from €19,720 to €30,344
- Depreciation +€10,098
up €10,098 (+32.5%), from €31,085 to €41,183
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €963,996 | €616,288 | -€347,708 | -36.1% |
| Fixed assets | 21/28 | €288,900 | €253,871 | -€35,029 | -12.1% |
| Tangible fixed assets | 22/27 | €288,716 | €253,687 | -€35,029 | -12.1% |
| Land and buildings | 22 | €179,510 | €171,671 | -€7,839 | -4.4% |
| Plant, machinery and equipment | 23 | €31,343 | €27,627 | -€3,717 | -11.9% |
| Furniture and vehicles | 24 | €77,863 | €54,389 | -€23,474 | -30.1% |
| Financial fixed assets | 28 | €184 | €184 | = | 0.0% |
| Current assets | 29/58 | €675,096 | €362,417 | -€312,679 | -46.3% |
| Stocks and contracts in progress | 3 | €98,178 | €83,759 | -€14,419 | -14.7% |
| Stocks | 30/36 | €98,178 | €83,759 | -€14,419 | -14.7% |
| Amounts receivable within one year | 40/41 | €272,622 | €163,884 | -€108,738 | -39.9% |
| Trade receivables | 40 | €244,964 | €151,807 | -€93,157 | -38.0% |
| Other amounts receivable | 41 | €27,658 | €12,077 | -€15,581 | -56.3% |
| Cash at bank and in hand | 54/58 | €304,296 | €114,774 | -€189,522 | -62.3% |
| Total equity and liabilities | 10/49 | €963,996 | €616,288 | -€347,708 | -36.1% |
| Equity | 10/15 | €590,928 | €384,995 | -€205,933 | -34.8% |
| Contributions | 10/11 | €7,069 | €7,069 | = | 0.0% |
| Reserves | 13 | €575,200 | €369,267 | -€205,933 | -35.8% |
| Non-distributable reserves | 130/1 | €842 | €842 | = | 0.0% |
| Reserves not available under the articles | 1311 | €842 | €842 | = | 0.0% |
| Distributable reserves | 133 | €574,358 | €368,425 | -€205,933 | -35.9% |
| Profit (loss) carried forward | 14 | €8,659 | €8,659 | = | 0.0% |
| Amounts payable | 17/49 | €373,068 | €231,293 | -€141,776 | -38.0% |
| Amounts payable after more than one year | 17 | €182,663 | €146,265 | -€36,398 | -19.9% |
| Financial debts | 170/4 | €182,663 | €146,265 | -€36,398 | -19.9% |
| Amounts payable within one year | 42/48 | €188,714 | €83,336 | -€105,378 | -55.8% |
| Current portion of amounts payable after more than one year | 42 | €35,572 | €36,305 | +€732 | +2.1% |
| Financial debts | 43 | €7,845 | €3,370 | -€4,475 | -57.0% |
| Credit institutions | 430/8 | €7,845 | €3,370 | -€4,475 | -57.0% |
| Trade debts | 44 | €76,603 | €27,731 | -€48,872 | -63.8% |
| Suppliers | 440/4 | €76,603 | €27,731 | -€48,872 | -63.8% |
| Taxes, remuneration and social security | 45 | €19,333 | €15,930 | -€3,403 | -17.6% |
| Taxes | 450/3 | €5,228 | €6,960 | +€1,732 | +33.1% |
| Remuneration and social security | 454/9 | €14,105 | €8,970 | -€5,135 | -36.4% |
| Other amounts payable | 47/48 | €49,361 | €0 | -€49,361 | -100% |
| Accrued charges and deferred income | 492/3 | €1,692 | €1,692 | = | 0.0% |
| Non-recurring operating income | 76A | €22,255 | €5,000 | -€17,255 | -77.5% |
| Remuneration, social security and pensions | 62 | €358,167 | €238,760 | -€119,407 | -33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,085 | €41,183 | +€10,098 | +32.5% |
| Other operating charges | 640/8 | €5,434 | €5,021 | -€413 | -7.6% |
| Gross operating margin | 9900 | €454,334 | €400,068 | -€54,266 | -11.9% |
| Operating profit (loss) | 9901 | €59,647 | €115,104 | +€55,456 | +93.0% |
| Financial income | 75/76B | €2 | €0 | -€2 | -98.6% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -98.6% |
| Financial charges | 65/66B | €5,773 | €5,331 | -€442 | -7.7% |
| Recurring financial charges | 65 | €5,773 | €5,331 | -€442 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | €53,876 | €109,773 | +€55,896 | +104% |
| Income taxes | 67/77 | €19,720 | €30,344 | +€10,624 | +53.9% |
| Profit (loss) for the period | 9904 | €34,156 | €79,429 | +€45,273 | +133% |
| Profit (loss) for the period to be appropriated | 9905 | €34,156 | €79,429 | +€45,273 | +133% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.