DHOLE: 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.
DHOLE
Largest movements
- Current investments +€6.7m
up €6.7m (+70.3%), from €9.6m to €16.3m
- Cash -€5.9m
down €5.9m (-89.5%), from €6.6m to €688,410
mainly Current investments (-€6.7m) and Contributions, distributions and other (-€1.0m)
- Tangible fixed assets +€742,476
new in 2025: €742,476
of which Land and buildings: +€741,466
- Reserves +€1.4m
up €1.4m (+37.0%), from €3.8m to €5.2m
- Other debts +€1.1m
up €1.1m (+626.6%), from €170,000 to €1.2m
- Profit (loss) carried forward -€1.0m
down €1.0m (-8.2%), from €12.3m to €11.3m
- Financial income +€1.2m
up €1.2m (+118.8%), from €990,319 to €2.2m
- Financial charges +€320,493
up €320,493 (+2062.8%), from €15,537 to €336,030
- Taxes +€300,154
up €300,154 (+345.0%), from €86,992 to €387,146
- Depreciation +€17,241
new in 2025: €17,241
- Other operating charges +€4,296
up €4,296 (+42.5%), from €10,106 to €14,402
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 | €16,413,217 | €17,927,106 | +€1.5m | +9.2% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €168,840 | €911,316 | +€742,476 | +439.8% |
| Tangible fixed assets | 22/27 | - | €742,476 | +€742,476 | |
| Land and buildings | 22 | - | €741,466 | +€741,466 | |
| Furniture and vehicles | 24 | - | €1,010 | +€1,010 | |
| Financial fixed assets | 28 | €168,840 | €168,840 | = | 0.0% |
| Current assets | 29/58 | €16,244,377 | €17,015,790 | +€771,413 | +4.7% |
| Amounts receivable within one year | 40/41 | €87,905 | €913 | -€86,992 | -99.0% |
| Other amounts receivable | 41 | €87,905 | €913 | -€86,992 | -99.0% |
| Current investments | 50/53 | €9,585,831 | €16,326,467 | +€6.7m | +70.3% |
| Cash at bank and in hand | 54/58 | €6,570,641 | €688,410 | -€5.9m | -89.5% |
| Total equity and liabilities | 10/49 | €16,413,217 | €17,927,106 | +€1.5m | +9.2% |
| Equity | 10/15 | €16,154,295 | €16,549,062 | +€394,767 | +2.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,801,437 | €5,206,205 | +€1.4m | +37.0% |
| Distributable reserves | 133 | €3,801,437 | €5,206,205 | +€1.4m | +37.0% |
| Profit (loss) carried forward | 14 | €12,334,258 | €11,324,258 | -€1.0m | -8.2% |
| Amounts payable | 17/49 | €258,922 | €1,378,044 | +€1.1m | +432.2% |
| Amounts payable within one year | 42/48 | €257,165 | €1,376,700 | +€1.1m | +435.3% |
| Trade debts | 44 | €173 | €1,041 | +€868 | +501.5% |
| Suppliers | 440/4 | €173 | €1,041 | +€868 | +501.5% |
| Taxes, remuneration and social security | 45 | €86,992 | €140,477 | +€53,485 | +61.5% |
| Taxes | 450/3 | €86,992 | €140,477 | +€53,485 | +61.5% |
| Other amounts payable | 47/48 | €170,000 | €1,235,183 | +€1.1m | +626.6% |
| Accrued charges and deferred income | 492/3 | €1,757 | €1,343 | -€414 | -23.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €17,241 | +€17,241 | |
| Other operating charges | 640/8 | €10,106 | €14,402 | +€4,296 | +42.5% |
| Gross operating margin | 9900 | -€7,766 | -€6,956 | +€809 | +10.4% |
| Operating profit (loss) | 9901 | -€17,872 | -€38,599 | -€20,727 | -116.0% |
| Financial income | 75/76B | €990,319 | €2,166,541 | +€1.2m | +118.8% |
| Recurring financial income | 75 | €990,319 | €2,166,541 | +€1.2m | +118.8% |
| Financial charges | 65/66B | €15,537 | €336,030 | +€320,493 | +2062.8% |
| Recurring financial charges | 65 | €15,537 | €336,030 | +€320,493 | +2062.8% |
| Profit (loss) for the period before taxes | 9903 | €956,910 | €1,791,913 | +€835,003 | +87.3% |
| Income taxes | 67/77 | €86,992 | €387,146 | +€300,154 | +345.0% |
| Profit (loss) for the period | 9904 | €869,918 | €1,404,767 | +€534,849 | +61.5% |
| Profit (loss) for the period to be appropriated | 9905 | €869,918 | €1,404,767 | +€534,849 | +61.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.