CHART: what changed
What changed
CHART
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€243,916
2024 · €382,470-€138,554
Equity
€18,614
2024 · €31,197-€12,584
Cash
€639,292
2024 · €428,823+€210,469
Balance sheet total
€718,759
2024 · €525,255+€193,504
Largest movements
Assets
- Cash +€210,469
up €210,469 (+49.1%), from €428,823 to €639,292
mainly Net result for the year (+€243,916) and Other debts (+€205,992)
- Tangible fixed assets -€11,237
down €11,237 (-29.6%), from €37,931 to €26,693
of which Furniture and vehicles: -€10,474
- Current investments -€7,375
down €7,375 (-19.5%), from €37,908 to €30,532
Equity and liabilities
- Other debts +€205,992
up €205,992 (+43.5%), from €473,575 to €679,568
- Reserves -€12,584
down €12,584 (-99.9%), from €12,597 to €14
Income statement
- Gross operating margin -€179,628
down €179,628 (-34.7%), from €518,264 to €338,636
- Taxes -€39,163
down €39,163 (-31.8%), from €123,196 to €84,033
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.
Result 2024
€382,470
Gross operating margin
-€179,628
Depreciation
+€195
Other operating charges
+€87
Financial income
+€1,346
Financial charges
+€284
Taxes
+€39,163
Result 2025
€243,916
raises the resultlowers the result
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.
From operations
+€460,493
Investment
+€6,476
Financing
-€256,500
Cash 2024
€428,823
From operations (derived)
+€460,493
Net result for the year
+€243,916
Depreciation
+€12,136
Smaller working-capital items
+€116
Deferred charges and accrued income
-€1,668
Other debts
+€205,992
Investment (derived)
+€6,476
Investment in fixed assets (net)
-€899
Current investments
+€7,375
Financing
-€256,500
Contributions, distributions and other
-€256,500
Cash 2025
€639,292
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €525,255 | €718,759 | +€193,504 | +36.8% |
| Fixed assets | 21/28 | €37,931 | €26,693 | -€11,237 | -29.6% |
| Tangible fixed assets | 22/27 | €37,931 | €26,693 | -€11,237 | -29.6% |
| Plant, machinery and equipment | 23 | €2,121 | €1,358 | -€763 | -36.0% |
| Furniture and vehicles | 24 | €35,809 | €25,335 | -€10,474 | -29.3% |
| Current assets | 29/58 | €487,325 | €692,066 | +€204,741 | +42.0% |
| Amounts receivable within one year | 40/41 | €18,171 | €18,150 | -€21 | -0.1% |
| Trade receivables | 40 | €18,150 | €18,150 | = | 0.0% |
| Other amounts receivable | 41 | €21 | €0 | -€21 | -98.0% |
| Current investments | 50/53 | €37,908 | €30,532 | -€7,375 | -19.5% |
| Cash at bank and in hand | 54/58 | €428,823 | €639,292 | +€210,469 | +49.1% |
| Deferred charges and accrued income | 490/1 | €2,423 | €4,092 | +€1,668 | +68.8% |
| Total equity and liabilities | 10/49 | €525,255 | €718,759 | +€193,504 | +36.8% |
| Equity | 10/15 | €31,197 | €18,614 | -€12,584 | -40.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €12,597 | €14 | -€12,584 | -99.9% |
| Distributable reserves | 133 | €12,597 | €14 | -€12,584 | -99.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €494,058 | €700,145 | +€206,087 | +41.7% |
| Amounts payable within one year | 42/48 | €494,058 | €700,145 | +€206,087 | +41.7% |
| Trade debts | 44 | €5,474 | €5,234 | -€240 | -4.4% |
| Suppliers | 440/4 | €5,474 | €5,234 | -€240 | -4.4% |
| Taxes, remuneration and social security | 45 | €15,009 | €15,343 | +€335 | +2.2% |
| Taxes | 450/3 | €15,009 | €15,343 | +€335 | +2.2% |
| Other amounts payable | 47/48 | €473,575 | €679,568 | +€205,992 | +43.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,331 | €12,136 | -€195 | -1.6% |
| Other operating charges | 640/8 | €948 | €861 | -€87 | -9.1% |
| Gross operating margin | 9900 | €518,264 | €338,636 | -€179,628 | -34.7% |
| Operating profit (loss) | 9901 | €504,985 | €325,638 | -€179,347 | -35.5% |
| Financial income | 75/76B | €973 | €2,319 | +€1,346 | +138% |
| Recurring financial income | 75 | €973 | €2,319 | +€1,346 | +138% |
| Financial charges | 65/66B | €292 | €9 | -€284 | -97.0% |
| Recurring financial charges | 65 | €292 | €9 | -€284 | -97.0% |
| Profit (loss) for the period before taxes | 9903 | €505,666 | €327,949 | -€177,717 | -35.1% |
| Income taxes | 67/77 | €123,196 | €84,033 | -€39,163 | -31.8% |
| Profit (loss) for the period | 9904 | €382,470 | €243,916 | -€138,554 | -36.2% |
| Profit (loss) for the period to be appropriated | 9905 | €382,470 | €243,916 | -€138,554 | -36.2% |
Next steps
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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 8 November 2026 via checked.be.