DEXIA 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.
What changed
DEXIA HOLDING
NACE 64.210, Activities of holding companies
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€15.5m
2024 · -€15.0m-€513,998
Equity
€617.0m
2024 · €632.5m-€15.5m
Cash
€4.4m
2024 · €20.0m-€15.5m
Balance sheet total
€741.2m
2024 · €778.8m-€37.6m
Largest movements
Assets
- Current investments -€44.8m
down €44.8m (-6.2%), from €720.1m to €675.3m
- Receivables within one year +€17.7m
up €17.7m (+177.6%), from €10.0m to €27.7m
of which Other amounts receivable: +€17.8m
- Cash -€15.5m
down €15.5m (-77.8%), from €20.0m to €4.4m
mainly Provisions (-€25.5m) and Receivables within one year (-€17.7m)
- Deferred charges and accrued income +€9.8m
up €9.8m (+1570.5%), from €624,865 to €10.4m
Equity and liabilities
- Provisions -€25.5m
down €25.5m (-52.2%), from €48.9m to €23.4m
- Debts after one year +€19.0m
up €19.0m (+25.4%), from €74.8m to €93.8m
- Tax, wage and social debts -€17.2m
down €17.2m (-92.4%), from €18.6m to €1.4m
of which Taxes: -€16.9m
- Profit (loss) carried forward -€15.5m
down €15.5m (-8.1%), from -€190.4m to -€205.9m
Income statement
- Taxes -€22.0m
down €22.0m (-96.1%), from €22.9m to €885,188
of which Taxes: -€22.0m
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.
Result 2024
-€15.0m
Staff costs
+€1.3m
Depreciation
-€276
Other operating charges
+€36,409
Other operating items
+€6.1m
Financial income
-€10.8m
Financial charges
-€3.7m
Other financial items
-€15.5m
Taxes
+€22.0m
Result 2025
-€15.5m
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.
From operations
-€82.5m
Investment
+€47.9m
Financing
+€19.0m
Cash 2024
€20.0m
From operations (derived)
-€82.5m
Net result for the year
-€15.5m
Depreciation
+€52,464
Receivables after one year
+€1.6m
Receivables within one year
-€17.7m
Deferred charges and accrued income
-€9.8m
Provisions
-€25.5m
Trade debts
-€194,059
Tax, wage and social debts
-€17.2m
Other debts
+€1.3m
Accrued charges and deferred income
+€550,495
Investment (derived)
+€47.9m
Investment in fixed assets (net)
+€3.1m
Current investments
+€44.8m
Financing
+€19.0m
Debts after one year
+€19.0m
Cash 2025
€4.4m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €778,773,394 | €741,163,461 | -€37.6m | -4.8% |
| Fixed assets | 21/28 | €18,317,713 | €15,165,249 | -€3.2m | -17.2% |
| Tangible fixed assets | 22/27 | €317,663 | €265,199 | -€52,464 | -16.5% |
| Plant, machinery and equipment | 23 | €1,214 | €1,079 | -€135 | -11.1% |
| Furniture and vehicles | 24 | €203,844 | €171,672 | -€32,172 | -15.8% |
| Other tangible fixed assets | 26 | €112,605 | €92,448 | -€20,157 | -17.9% |
| Financial fixed assets | 28 | €18,000,050 | €14,900,050 | -€3.1m | -17.2% |
| Affiliated companies | 280/1 | €18,000,000 | €14,900,000 | -€3.1m | -17.2% |
| Participating interests | 280 | €18,000,000 | €14,900,000 | -€3.1m | -17.2% |
| Other financial fixed assets | 284/8 | €50 | €50 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €760,455,681 | €725,998,212 | -€34.5m | -4.5% |
| Amounts receivable after more than one year | 29 | €9,806,847 | €8,166,339 | -€1.6m | -16.7% |
| Other amounts receivable | 291 | €9,806,847 | €8,166,339 | -€1.6m | -16.7% |
| Amounts receivable within one year | 40/41 | €9,979,345 | €27,706,098 | +€17.7m | +177.6% |
| Trade receivables | 40 | €639,740 | €533,118 | -€106,622 | -16.7% |
| Other amounts receivable | 41 | €9,339,605 | €27,172,980 | +€17.8m | +190.9% |
| Current investments | 50/53 | €720,069,122 | €675,250,381 | -€44.8m | -6.2% |
| Other investments | 51/53 | €720,069,122 | €675,250,381 | -€44.8m | -6.2% |
| Cash at bank and in hand | 54/58 | €19,975,502 | €4,436,850 | -€15.5m | -77.8% |
| Deferred charges and accrued income | 490/1 | €624,865 | €10,438,544 | +€9.8m | +1570.5% |
| Total equity and liabilities | 10/49 | €778,773,394 | €741,163,461 | -€37.6m | -4.8% |
| Equity | 10/15 | €632,496,069 | €616,999,729 | -€15.5m | -2.5% |
| Contributions | 10/11 | €500,000,000 | €500,000,000 | = | 0.0% |
| Capital | 10 | €500,000,000 | €500,000,000 | = | 0.0% |
| Issued capital | 100 | €500,000,000 | €500,000,000 | = | 0.0% |
| Reserves | 13 | €322,880,172 | €322,880,172 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50,000,000 | €50,000,000 | = | 0.0% |
| Legal reserve | 130 | €50,000,000 | €50,000,000 | = | 0.0% |
| Distributable reserves | 133 | €272,880,172 | €272,880,172 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€190,384,103 | -€205,880,443 | -€15.5m | -8.1% |
| Provisions and deferred taxes | 16 | €48,899,348 | €23,358,840 | -€25.5m | -52.2% |
| Provisions for liabilities and charges | 160/5 | €48,899,348 | €23,358,840 | -€25.5m | -52.2% |
| Other liabilities and charges | 164/5 | €48,899,348 | €23,358,840 | -€25.5m | -52.2% |
| Amounts payable | 17/49 | €97,377,977 | €100,804,892 | +€3.4m | +3.5% |
| Amounts payable after more than one year | 17 | €74,788,000 | €93,788,000 | +€19.0m | +25.4% |
| Financial debts | 170/4 | €74,788,000 | €93,788,000 | +€19.0m | +25.4% |
| Subordinated loans | 170 | €39,788,000 | €39,788,000 | = | 0.0% |
| Other loans | 174 | €35,000,000 | €54,000,000 | +€19.0m | +54.3% |
| Amounts payable within one year | 42/48 | €21,810,357 | €5,686,777 | -€16.1m | -73.9% |
| Trade debts | 44 | €1,188,604 | €994,545 | -€194,059 | -16.3% |
| Suppliers | 440/4 | €1,188,604 | €994,545 | -€194,059 | -16.3% |
| Taxes, remuneration and social security | 45 | €18,623,274 | €1,414,078 | -€17.2m | -92.4% |
| Taxes | 450/3 | €17,024,543 | €86,743 | -€16.9m | -99.5% |
| Remuneration and social security | 454/9 | €1,598,731 | €1,327,335 | -€271,396 | -17.0% |
| Other amounts payable | 47/48 | €1,998,479 | €3,278,154 | +€1.3m | +64.0% |
| Accrued charges and deferred income | 492/3 | €779,620 | €1,330,115 | +€550,495 | +70.6% |
| Operating income | 70/76A | €27,183,578 | €30,406,430 | +€3.2m | +11.9% |
| Other operating income | 74 | €7,183,578 | €6,459,901 | -€723,677 | -10.1% |
| Non-recurring operating income | 76A | €20,000,000 | €23,946,529 | +€3.9m | +19.7% |
| Operating charges | 60/66A | €19,585,014 | €15,357,541 | -€4.2m | -21.6% |
| Services and other goods | 61 | €8,117,040 | €7,800,284 | -€316,756 | -3.9% |
| Remuneration, social security and pensions | 62 | €8,296,131 | €6,980,293 | -€1.3m | -15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,188 | €52,464 | +€276 | +0.5% |
| Other operating charges | 640/8 | €62,692 | €26,283 | -€36,409 | -58.1% |
| Non-recurring operating charges | 66A | €3,056,963 | €498,217 | -€2.6m | -83.7% |
| Operating profit (loss) | 9901 | €7,598,564 | €15,048,889 | +€7.5m | +98.0% |
| Recurring financial income | 75 | €24,855,883 | €14,058,727 | -€10.8m | -43.4% |
| Income from current assets | 751 | €24,855,876 | €14,058,334 | -€10.8m | -43.4% |
| Other financial income | 752/9 | €7 | €393 | +€386 | +5514.3% |
| Non-recurring financial income | 76B | €15,604,312 | €134,612 | -€15.5m | -99.1% |
| Financial charges | 65/66B | €40,119,920 | €43,853,380 | +€3.7m | +9.3% |
| Recurring financial charges | 65 | €119,920 | €753,380 | +€633,460 | +528.2% |
| Debt charges | 650 | €90,478 | €724,833 | +€634,355 | +701.1% |
| Other financial charges | 652/9 | €29,442 | €28,547 | -€895 | -3.0% |
| Non-recurring financial charges | 66B | €40,000,000 | €43,100,000 | +€3.1m | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €7,938,839 | -€14,611,152 | -€22.5m | |
| Income taxes | 67/77 | €22,921,181 | €885,188 | -€22.0m | -96.1% |
| Taxes | 670/3 | €22,921,181 | €887,335 | -€22.0m | -96.1% |
| Tax adjustments and reversals of tax provisions | 77 | - | €2,147 | +€2,147 | |
| Profit (loss) for the period | 9904 | -€14,982,342 | -€15,496,340 | -€513,998 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,982,342 | -€15,496,340 | -€513,998 | -3.4% |
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 12 October 2026 via checked.be.