DR-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.
What changed
DR-Hold
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3.8m
2024 · €219,039+€3.5m
Equity
€10.8m
2024 · €7.1m+€3.8m
Cash
€12,573
2024 · €27,333-€14,760
Balance sheet total
€11.7m
2024 · €11.1m+€578,557
Largest movements
Assets
- Current investments +€575,000
up €575,000 (+104.5%), from €550,000 to €1.1m
Equity and liabilities
- Reserves +€3.8m
up €3.8m (+164.3%), from €2.3m to €6.0m
of which Distributable reserves: +€3.6m
- Debts after one year -€3.1m
down €3.1m (-88.0%), from €3.6m to €428,571
Income statement
- Financial income +€3.6m
up €3.6m (+4059.0%), from €88,355 to €3.7m
- Services and other goods +€91,274
up €91,274 (+17.9%), from €508,512 to €599,786
- Turnover +€26,998
up €26,998 (+3.5%), from €771,250 to €798,248
- Taxes -€16,693
down €16,693 (-32.8%), from €50,824 to €34,131
of which Taxes: -€16,765
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
€219,039
Turnover
+€26,998
Services and other goods
-€91,274
Other operating charges
-€526
Financial income
+€3.6m
Financial charges
+€2,442
Taxes
+€16,693
Result 2025
€3.8m
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
+€3.7m
Investment
-€575,000
Financing
-€3.1m
Cash 2024
€27,333
From operations (derived)
+€3.7m
Net result for the year
+€3.8m
Smaller working-capital items
-€10,183
Accrued charges and deferred income
-€60,750
Investment (derived)
-€575,000
Current investments
-€575,000
Financing
-€3.1m
Debts after one year
-€3.1m
Cash 2025
€12,573
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,145,722 | €11,724,279 | +€578,557 | +5.2% |
| Fixed assets | 21/28 | €10,483,015 | €10,483,015 | = | 0.0% |
| Financial fixed assets | 28 | €10,483,015 | €10,483,015 | = | 0.0% |
| Affiliated companies | 280/1 | €10,483,015 | €10,483,015 | = | 0.0% |
| Participating interests | 280 | €10,483,015 | €10,483,015 | = | 0.0% |
| Current assets | 29/58 | €662,707 | €1,241,264 | +€578,557 | +87.3% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €80,259 | €89,618 | +€9,360 | +11.7% |
| Trade receivables | 40 | €65,049 | €66,521 | +€1,472 | +2.3% |
| Other amounts receivable | 41 | €15,210 | €23,098 | +€7,887 | +51.9% |
| Current investments | 50/53 | €550,000 | €1,125,000 | +€575,000 | +104.5% |
| Other investments | 51/53 | €550,000 | €1,125,000 | +€575,000 | +104.5% |
| Cash at bank and in hand | 54/58 | €27,333 | €12,573 | -€14,760 | -54.0% |
| Deferred charges and accrued income | 490/1 | €5,116 | €14,074 | +€8,958 | +175.1% |
| Total equity and liabilities | 10/49 | €11,145,722 | €11,724,279 | +€578,557 | +5.2% |
| Equity | 10/15 | €7,058,185 | €10,817,929 | +€3.8m | +53.3% |
| Contributions | 10/11 | €4,770,000 | €4,770,000 | = | 0.0% |
| Capital | 10 | €4,770,000 | €4,770,000 | = | 0.0% |
| Issued capital | 100 | €4,770,000 | €4,770,000 | = | 0.0% |
| Reserves | 13 | €2,288,185 | €6,047,929 | +€3.8m | +164.3% |
| Non-distributable reserves | 130/1 | €165,400 | €353,400 | +€188,000 | +113.7% |
| Legal reserve | 130 | €165,400 | €353,400 | +€188,000 | +113.7% |
| Distributable reserves | 133 | €2,122,785 | €5,694,529 | +€3.6m | +168.3% |
| Amounts payable | 17/49 | €4,087,537 | €906,350 | -€3.2m | -77.8% |
| Amounts payable after more than one year | 17 | €3,557,143 | €428,571 | -€3.1m | -88.0% |
| Financial debts | 170/4 | €3,557,143 | €428,571 | -€3.1m | -88.0% |
| Credit institutions | 173 | €857,143 | €428,571 | -€428,571 | -50.0% |
| Other loans | 174 | €2,700,000 | €0 | -€2.7m | -100.0% |
| Amounts payable within one year | 42/48 | €469,644 | €477,779 | +€8,135 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €428,571 | €428,571 | = | 0.0% |
| Trade debts | 44 | €722 | €9,230 | +€8,508 | +1177.7% |
| Suppliers | 440/4 | €722 | €9,230 | +€8,508 | +1177.7% |
| Taxes, remuneration and social security | 45 | €40,351 | €39,978 | -€373 | -0.9% |
| Taxes | 450/3 | €40,351 | €39,978 | -€373 | -0.9% |
| Accrued charges and deferred income | 492/3 | €60,750 | €0 | -€60,750 | -100.0% |
| Operating income | 70/76A | €771,250 | €798,248 | +€26,998 | +3.5% |
| Turnover | 70 | €771,250 | €798,248 | +€26,998 | +3.5% |
| Operating charges | 60/66A | €509,620 | €601,420 | +€91,800 | +18.0% |
| Services and other goods | 61 | €508,512 | €599,786 | +€91,274 | +17.9% |
| Other operating charges | 640/8 | €1,108 | €1,634 | +€526 | +47.5% |
| Operating profit (loss) | 9901 | €261,630 | €196,828 | -€64,803 | -24.8% |
| Financial income | 75/76B | €88,355 | €3,674,728 | +€3.6m | +4059.0% |
| Recurring financial income | 75 | €88,355 | €3,674,728 | +€3.6m | +4059.0% |
| Income from financial fixed assets | 750 | €68,000 | €3,668,000 | +€3.6m | +5294.1% |
| Income from current assets | 751 | €20,355 | €6,728 | -€13,627 | -66.9% |
| Financial charges | 65/66B | €80,122 | €77,681 | -€2,442 | -3.0% |
| Recurring financial charges | 65 | €80,122 | €77,681 | -€2,442 | -3.0% |
| Debt charges | 650 | €79,859 | €76,931 | -€2,928 | -3.7% |
| Other financial charges | 652/9 | €264 | €750 | +€487 | +184.6% |
| Profit (loss) for the period before taxes | 9903 | €269,863 | €3,793,875 | +€3.5m | +1305.9% |
| Income taxes | 67/77 | €50,824 | €34,131 | -€16,693 | -32.8% |
| Taxes | 670/3 | €50,897 | €34,131 | -€16,765 | -32.9% |
| Tax adjustments and reversals of tax provisions | 77 | €72 | €0 | -€72 | -100.0% |
| Profit (loss) for the period | 9904 | €219,039 | €3,759,744 | +€3.5m | +1616.5% |
| Profit (loss) for the period to be appropriated | 9905 | €219,039 | €3,759,744 | +€3.5m | +1616.5% |
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 6 October 2026 via checked.be.