HAVECON: what changed
HAVECON
Largest movements
- Cash +€89,351
up €89,351 (+998%), from €8,952 to €98,304
mainly Net result for the year (+€53,276) and Investment in fixed assets (net) (+€23,796)
- Tangible fixed assets -€43,490
down €43,490 (-13.1%), from €332,838 to €289,348
of which Furniture and vehicles: -€38,203
- Receivables within one year -€18,415
down €18,415 (-27.2%), from €67,822 to €49,407
of which Trade receivables: -€29,185
- Profit (loss) carried forward +€53,276
up €53,276 (+31.9%), from €166,782 to €220,058
- Debts after one year -€50,047
down €50,047 (-32.9%), from €151,952 to €101,906
- Tax, wage and social debts +€19,705
up €19,705 (+67.3%), from €29,257 to €48,962
of which Taxes: +€23,989
- Trade debts +€5,959
up €5,959 (+63.6%), from €9,373 to €15,332
- Gross operating margin +€37,894
up €37,894 (+51.2%), from €73,988 to €111,883
- Taxes +€6,906
up €6,906 (+64.1%), from €10,782 to €17,688
- Depreciation -€6,395
down €6,395 (-24.5%), from €26,089 to €19,694
- Financial charges -€1,948
down €1,948 (-28.6%), from €6,808 to €4,860
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 | €414,249 | €444,072 | +€29,824 | +7.2% |
| Fixed assets | 21/28 | €333,338 | €289,848 | -€43,490 | -13.0% |
| Tangible fixed assets | 22/27 | €332,838 | €289,348 | -€43,490 | -13.1% |
| Land and buildings | 22 | €265,688 | €261,067 | -€4,621 | -1.7% |
| Plant, machinery and equipment | 23 | €17,555 | €16,889 | -€666 | -3.8% |
| Furniture and vehicles | 24 | €49,595 | €11,392 | -€38,203 | -77.0% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €80,911 | €154,225 | +€73,314 | +90.6% |
| Amounts receivable within one year | 40/41 | €67,822 | €49,407 | -€18,415 | -27.2% |
| Trade receivables | 40 | €29,185 | - | -€29,185 | |
| Other amounts receivable | 41 | €38,637 | €49,407 | +€10,770 | +27.9% |
| Cash at bank and in hand | 54/58 | €8,952 | €98,304 | +€89,351 | +998% |
| Deferred charges and accrued income | 490/1 | €4,136 | €6,514 | +€2,378 | +57.5% |
| Total equity and liabilities | 10/49 | €414,249 | €444,072 | +€29,824 | +7.2% |
| Equity | 10/15 | €174,842 | €228,118 | +€53,276 | +30.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €166,782 | €220,058 | +€53,276 | +31.9% |
| Amounts payable | 17/49 | €239,407 | €215,954 | -€23,453 | -9.8% |
| Amounts payable after more than one year | 17 | €151,952 | €101,906 | -€50,047 | -32.9% |
| Financial debts | 170/4 | €151,952 | €101,906 | -€50,047 | -32.9% |
| Amounts payable within one year | 42/48 | €87,455 | €114,049 | +€26,594 | +30.4% |
| Current portion of amounts payable after more than one year | 42 | €48,824 | €49,755 | +€931 | +1.9% |
| Trade debts | 44 | €9,373 | €15,332 | +€5,959 | +63.6% |
| Suppliers | 440/4 | €9,373 | €15,332 | +€5,959 | +63.6% |
| Taxes, remuneration and social security | 45 | €29,257 | €48,962 | +€19,705 | +67.3% |
| Taxes | 450/3 | €24,973 | €48,962 | +€23,989 | +96.1% |
| Remuneration and social security | 454/9 | €4,284 | - | -€4,284 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,089 | €19,694 | -€6,395 | -24.5% |
| Other operating charges | 640/8 | €3,093 | €3,645 | +€552 | +17.9% |
| Non-recurring operating charges | 66A | - | €15,097 | +€15,097 | |
| Gross operating margin | 9900 | €73,988 | €111,883 | +€37,894 | +51.2% |
| Operating profit (loss) | 9901 | €44,807 | €73,447 | +€28,640 | +63.9% |
| Financial income | 75/76B | €2,271 | €2,378 | +€107 | +4.7% |
| Recurring financial income | 75 | €2,271 | €2,378 | +€107 | +4.7% |
| Financial charges | 65/66B | €6,808 | €4,860 | -€1,948 | -28.6% |
| Recurring financial charges | 65 | €6,808 | €4,860 | -€1,948 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | €40,270 | €70,964 | +€30,694 | +76.2% |
| Income taxes | 67/77 | €10,782 | €17,688 | +€6,906 | +64.1% |
| Profit (loss) for the period | 9904 | €29,488 | €53,276 | +€23,788 | +80.7% |
| Profit (loss) for the period to be appropriated | 9905 | €29,488 | €53,276 | +€23,788 | +80.7% |
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 3 November 2026 via checked.be.