Equans Holding Belux: 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
Equans Holding Belux
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€147.3m
2024 · €37.5m+€109.8m
Equity
€1.23bn
2024 · €1.13bn+€103.0m
Cash
-
not filed
Balance sheet total
€1.28bn
2024 · €1.15bn+€122.4m
Largest movements
Assets
- Financial fixed assets +€125.0m
up €125.0m (+11.0%), from €1.14bn to €1.26bn
Equity and liabilities
- Profit (loss) carried forward +€99.7m
up €99.7m (+136%), from €73.3m to €172.9m
- Other debts +€18.9m
up €18.9m (+74.6%), from €25.4m to €44.3m
Income statement
- Financial income +€109.9m
up €109.9m (+294%), from €37.4m to €147.2m
of which Non-recurring financial income: +€125.0m
- Staff costs +€4.2m
up €4.2m (+77.9%), from €5.4m to €9.6m
- Turnover +€3.1m
up €3.1m (+47.8%), from €6.5m to €9.6m
- Other operating income +€743,620
up €743,620 (+1,220%), from €60,930 to €804,550
- Financial charges -€196,322
down €196,322 (-85.4%), from €229,767 to €33,445
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
€37.5m
Turnover
+€3.1m
Other operating income
+€743,620
Services and other goods
+€167,552
Staff costs
-€4.2m
Other operating charges
-€4,407
Financial income
+€109.9m
Financial charges
+€196,322
Taxes
-€31,141
Result 2025
€147.3m
raises the resultlowers the result
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,154,881,290 | €1,277,286,097 | +€122.4m | +10.6% |
| Fixed assets | 21/28 | €1,137,220,727 | €1,262,220,727 | +€125.0m | +11.0% |
| Financial fixed assets | 28 | €1,137,220,727 | €1,262,220,727 | +€125.0m | +11.0% |
| Affiliated companies | 280/1 | €1,137,220,727 | €1,262,220,727 | +€125.0m | +11.0% |
| Participating interests | 280 | €1,137,220,727 | €1,262,220,727 | +€125.0m | +11.0% |
| Current assets | 29/58 | €17,660,563 | €15,065,370 | -€2.6m | -14.7% |
| Amounts receivable within one year | 40/41 | €2,650,147 | €3,769,638 | +€1.1m | +42.2% |
| Trade receivables | 40 | €1,600,721 | €1,113,746 | -€486,976 | -30.4% |
| Other amounts receivable | 41 | €1,049,426 | €2,655,893 | +€1.6m | +153% |
| Current investments | 50/53 | €14,988,184 | €11,285,858 | -€3.7m | -24.7% |
| Other investments | 51/53 | €14,988,184 | €11,285,858 | -€3.7m | -24.7% |
| Deferred charges and accrued income | 490/1 | €22,232 | €9,873 | -€12,359 | -55.6% |
| Total equity and liabilities | 10/49 | €1,154,881,290 | €1,277,286,097 | +€122.4m | +10.6% |
| Equity | 10/15 | €1,127,422,717 | €1,230,459,656 | +€103.0m | +9.1% |
| Contributions | 10/11 | €1,047,061,500 | €1,047,061,500 | = | 0.0% |
| Capital | 10 | €104,761,500 | €104,761,500 | = | 0.0% |
| Issued capital | 100 | €104,761,500 | €104,761,500 | = | 0.0% |
| Contributions outside capital | 11 | €942,300,000 | €942,300,000 | = | 0.0% |
| Share premium | 1100/10 | €942,300,000 | €942,300,000 | = | 0.0% |
| Reserves | 13 | €7,089,632 | €10,476,150 | +€3.4m | +47.8% |
| Non-distributable reserves | 130/1 | €7,089,632 | €10,476,150 | +€3.4m | +47.8% |
| Legal reserve | 130 | €7,089,632 | €10,476,150 | +€3.4m | +47.8% |
| Profit (loss) carried forward | 14 | €73,271,585 | €172,922,006 | +€99.7m | +136% |
| Amounts payable | 17/49 | €27,458,573 | €46,826,441 | +€19.4m | +70.5% |
| Amounts payable within one year | 42/48 | €27,458,573 | €46,826,441 | +€19.4m | +70.5% |
| Trade debts | 44 | €103,913 | €20,980 | -€82,933 | -79.8% |
| Suppliers | 440/4 | €103,913 | €20,980 | -€82,933 | -79.8% |
| Taxes, remuneration and social security | 45 | €1,983,237 | €2,517,461 | +€534,224 | +26.9% |
| Taxes | 450/3 | €227,209 | €117,195 | -€110,015 | -48.4% |
| Remuneration and social security | 454/9 | €1,756,028 | €2,400,267 | +€644,239 | +36.7% |
| Other amounts payable | 47/48 | €25,371,423 | €44,288,000 | +€18.9m | +74.6% |
| Operating income | 70/76A | €6,587,185 | €10,453,401 | +€3.9m | +58.7% |
| Turnover | 70 | €6,526,254 | €9,648,851 | +€3.1m | +47.8% |
| Other operating income | 74 | €60,930 | €804,550 | +€743,620 | +1,220% |
| Operating charges | 60/66A | €6,072,993 | €10,131,507 | +€4.1m | +66.8% |
| Services and other goods | 61 | €653,643 | €486,091 | -€167,552 | -25.6% |
| Remuneration, social security and pensions | 62 | €5,415,884 | €9,637,543 | +€4.2m | +77.9% |
| Other operating charges | 640/8 | €3,466 | €7,873 | +€4,407 | +127% |
| Operating profit (loss) | 9901 | €514,192 | €321,894 | -€192,297 | -37.4% |
| Financial income | 75/76B | €37,357,131 | €147,222,540 | +€109.9m | +294% |
| Recurring financial income | 75 | €37,357,131 | €22,222,540 | -€15.1m | -40.5% |
| Income from financial fixed assets | 750 | €37,017,650 | €21,980,717 | -€15.0m | -40.6% |
| Income from current assets | 751 | €126,015 | €241,823 | +€115,808 | +91.9% |
| Other financial income | 752/9 | €213,466 | - | -€213,466 | |
| Non-recurring financial income | 76B | - | €125,000,000 | +€125.0m | |
| Financial charges | 65/66B | €229,767 | €33,445 | -€196,322 | -85.4% |
| Recurring financial charges | 65 | €229,767 | €33,445 | -€196,322 | -85.4% |
| Debt charges | 650 | €221,096 | €23,413 | -€197,683 | -89.4% |
| Other financial charges | 652/9 | €8,671 | €10,032 | +€1,361 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | €37,641,556 | €147,510,989 | +€109.9m | +292% |
| Income taxes | 67/77 | €154,909 | €186,050 | +€31,141 | +20.1% |
| Taxes | 670/3 | €180,574 | €186,050 | +€5,476 | +3.0% |
| Tax adjustments and reversals of tax provisions | 77 | €25,665 | - | -€25,665 | |
| Profit (loss) for the period | 9904 | €37,486,647 | €147,324,939 | +€109.8m | +293% |
| Profit (loss) for the period to be appropriated | 9905 | €37,486,647 | €147,324,939 | +€109.8m | +293% |
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 26 October 2026 via checked.be.