B.HOLD: what changed
Two fiscal 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.
B.HOLD
Largest movements
- Current investments -€150,000
down €150,000 (-100.0%), from €150,000 to €0
- Tangible fixed assets -€8,930
down €8,930 (-20.0%), from €44,581 to €35,651
of which Furniture and vehicles: -€8,670
- Other debts -€169,068
down €169,068 (-78.4%), from €215,662 to €46,594
- Reserves +€30,087
up €30,087 (+6.3%), from €481,151 to €511,238
- Debts after one year -€10,765
down €10,765 (-41.8%), from €25,765 to €15,000
- Current portion of long-term debt -€10,572
down €10,572 (-49.5%), from €21,337 to €10,765
- Financial income -€1.0m
down €1.0m (-99.9%), from €1.0m to €1,525
of which Non-recurring financial income: -€1.0m
- Gross operating margin +€44,233
up €44,233 (+294.4%), from €15,023 to €59,256
- Taxes -€24,703
down €24,703 (-64.1%), from €38,517 to €13,814
- Depreciation +€8,861
up €8,861 (+12832.7%), from €69 to €8,930
- Financial charges +€5,818
up €5,818 (+514.5%), from €1,131 to €6,948
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 | €781,381 | €621,688 | -€159,693 | -20.4% |
| Fixed assets | 21/28 | €521,839 | €512,909 | -€8,930 | -1.7% |
| Tangible fixed assets | 22/27 | €44,581 | €35,651 | -€8,930 | -20.0% |
| Furniture and vehicles | 24 | €43,303 | €34,633 | -€8,670 | -20.0% |
| Other tangible fixed assets | 26 | €1,278 | €1,018 | -€260 | -20.3% |
| Financial fixed assets | 28 | €477,258 | €477,258 | = | 0.0% |
| Current assets | 29/58 | €259,542 | €108,779 | -€150,763 | -58.1% |
| Amounts receivable within one year | 40/41 | €22,912 | €15,107 | -€7,805 | -34.1% |
| Trade receivables | 40 | €14,257 | €13,465 | -€791 | -5.6% |
| Other amounts receivable | 41 | €8,655 | €1,641 | -€7,013 | -81.0% |
| Current investments | 50/53 | €150,000 | €0 | -€150,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €85,655 | €91,585 | +€5,930 | +6.9% |
| Deferred charges and accrued income | 490/1 | €976 | €2,087 | +€1,111 | +113.9% |
| Total equity and liabilities | 10/49 | €781,381 | €621,688 | -€159,693 | -20.4% |
| Equity | 10/15 | €488,651 | €518,738 | +€30,087 | +6.2% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €481,151 | €511,238 | +€30,087 | +6.3% |
| Distributable reserves | 133 | €481,151 | €511,238 | +€30,087 | +6.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €292,730 | €102,950 | -€189,781 | -64.8% |
| Amounts payable after more than one year | 17 | €25,765 | €15,000 | -€10,765 | -41.8% |
| Financial debts | 170/4 | €25,765 | €15,000 | -€10,765 | -41.8% |
| Amounts payable within one year | 42/48 | €266,808 | €87,792 | -€179,015 | -67.1% |
| Current portion of amounts payable after more than one year | 42 | €21,337 | €10,765 | -€10,572 | -49.5% |
| Trade debts | 44 | €51 | €206 | +€155 | +303.0% |
| Suppliers | 440/4 | €51 | €206 | +€155 | +303.0% |
| Taxes, remuneration and social security | 45 | €29,757 | €30,227 | +€470 | +1.6% |
| Taxes | 450/3 | €29,757 | €30,227 | +€470 | +1.6% |
| Other amounts payable | 47/48 | €215,662 | €46,594 | -€169,068 | -78.4% |
| Accrued charges and deferred income | 492/3 | €158 | €158 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69 | €8,930 | +€8,861 | +12832.7% |
| Other operating charges | 640/8 | €449 | €1,001 | +€553 | +123.1% |
| Gross operating margin | 9900 | €15,023 | €59,256 | +€44,233 | +294.4% |
| Operating profit (loss) | 9901 | €14,505 | €49,324 | +€34,819 | +240.1% |
| Financial income | 75/76B | €1,041,294 | €1,525 | -€1.0m | -99.9% |
| Recurring financial income | 75 | €10 | €1,525 | +€1,516 | +15955.3% |
| Non-recurring financial income | 76B | €1,041,284 | €0 | -€1.0m | -100.0% |
| Financial charges | 65/66B | €1,131 | €6,948 | +€5,818 | +514.5% |
| Recurring financial charges | 65 | €1,131 | €6,948 | +€5,818 | +514.5% |
| Profit (loss) for the period before taxes | 9903 | €1,054,668 | €43,901 | -€1.0m | -95.8% |
| Income taxes | 67/77 | €38,517 | €13,814 | -€24,703 | -64.1% |
| Profit (loss) for the period | 9904 | €1,016,151 | €30,087 | -€986,064 | -97.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,016,151 | €30,087 | -€986,064 | -97.0% |
Source: filed annual accounts (NBB), fiscal 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 October 2026 via checked.be.