441 HOLDING: 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.
441 HOLDING
Largest movements
- Receivables within one year -€328,135
down €328,135 (-92.7%), from €354,000 to €25,865
of which Other amounts receivable: -€329,194
- Debts after one year -€274,672
down €274,672 (-11.1%), from €2.5m to €2.2m
- Reserves -€67,456
down €67,456 (-11.2%), from €601,152 to €533,696
- Financial income -€350,000
down €350,000 (-100%), from €350,000 to €0
- Financial charges -€7,452
down €7,452 (-10.7%), from €69,711 to €62,259
- Gross operating margin +€397
up €397 (+10.9%), from -€3,658 to -€3,261
- Other operating charges -€126
down €126 (-100%), from €126 to €0
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 | €3,359,179 | €3,028,322 | -€330,857 | -9.8% |
| Fixed assets | 21/28 | €3,004,275 | €3,002,339 | -€1,936 | -0.1% |
| Intangible fixed assets | 21 | €4,275 | €2,339 | -€1,936 | -45.3% |
| Financial fixed assets | 28 | €3,000,000 | €3,000,000 | = | 0.0% |
| Current assets | 29/58 | €354,904 | €25,983 | -€328,921 | -92.7% |
| Amounts receivable within one year | 40/41 | €354,000 | €25,865 | -€328,135 | -92.7% |
| Trade receivables | 40 | - | €1,059 | +€1,059 | |
| Other amounts receivable | 41 | €354,000 | €24,806 | -€329,194 | -93.0% |
| Cash at bank and in hand | 54/58 | €904 | €118 | -€786 | -87.0% |
| Total equity and liabilities | 10/49 | €3,359,179 | €3,028,322 | -€330,857 | -9.8% |
| Equity | 10/15 | €621,152 | €553,696 | -€67,456 | -10.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €601,152 | €533,696 | -€67,456 | -11.2% |
| Distributable reserves | 133 | €601,152 | €533,696 | -€67,456 | -11.2% |
| Amounts payable | 17/49 | €2,738,027 | €2,474,626 | -€263,401 | -9.6% |
| Amounts payable after more than one year | 17 | €2,471,094 | €2,196,422 | -€274,672 | -11.1% |
| Financial debts | 170/4 | €2,471,094 | €2,196,422 | -€274,672 | -11.1% |
| Amounts payable within one year | 42/48 | €266,933 | €278,204 | +€11,271 | +4.2% |
| Current portion of amounts payable after more than one year | 42 | €264,333 | €274,672 | +€10,339 | +3.9% |
| Trade debts | 44 | €126 | €1,059 | +€933 | +740% |
| Suppliers | 440/4 | €126 | €1,059 | +€933 | +740% |
| Other amounts payable | 47/48 | €2,473 | €2,473 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,936 | €1,936 | = | 0.0% |
| Other operating charges | 640/8 | €126 | €0 | -€126 | -100% |
| Gross operating margin | 9900 | -€3,658 | -€3,261 | +€397 | +10.9% |
| Operating profit (loss) | 9901 | -€5,720 | -€5,197 | +€523 | +9.1% |
| Financial income | 75/76B | €350,000 | €0 | -€350,000 | -100% |
| Recurring financial income | 75 | €350,000 | €0 | -€350,000 | -100% |
| Financial charges | 65/66B | €69,711 | €62,259 | -€7,452 | -10.7% |
| Recurring financial charges | 65 | €69,711 | €62,259 | -€7,452 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €274,569 | -€67,456 | -€342,025 | |
| Profit (loss) for the period | 9904 | €274,569 | -€67,456 | -€342,025 | |
| Profit (loss) for the period to be appropriated | 9905 | €274,569 | -€67,456 | -€342,025 |
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 27 October 2026 via checked.be.