extend 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.
extend holding
Largest movements
- Financial fixed assets +€21.7m
up €21.7m (+603%), from €3.6m to €25.3m
- Current investments -€19.7m
down €19.7m (-96.5%), from €20.4m to €707,350
- Receivables within one year +€536,945
up €536,945 (+22.4%), from €2.4m to €2.9m
of which Other amounts receivable: +€478,902
- Cash -€303,653
down €303,653 (-94.9%), from €320,017 to €16,364
mainly Investment in fixed assets (net) (-€21.9m) and Short-term financial debts (-€691,011)
- Reserves +€1.5m
up €1.5m (+29.4%), from €5.0m to €6.5m
of which Distributable reserves: +€1.5m
- Accrued charges and deferred income +€1.0m
up €1.0m (+1,421%), from €73,660 to €1.1m
- Short-term financial debts -€691,011
down €691,011 (-11.6%), from €6.0m to €5.3m
- Other debts +€356,218
up €356,218 (+153%), from €232,711 to €588,929
- Financial charges -€265,285
down €265,285 (-45.5%), from €582,844 to €317,559
- Taxes +€209,992
up €209,992 (+95.4%), from €220,152 to €430,144
- Financial income +€165,293
up €165,293 (+5.3%), from €3.1m to €3.3m
- Gross operating margin -€92,270
down €92,270 (-49.4%), from -€186,894 to -€279,164
- Other operating charges +€56,429
up €56,429 (+43.8%), from €128,693 to €185,122
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.
Derived cash bridge
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 | €26,769,650 | €29,177,609 | +€2.4m | +9.0% |
| Fixed assets | 21/28 | €3,613,592 | €25,513,046 | +€21.9m | +606% |
| Tangible fixed assets | 22/27 | €7,093 | €169,609 | +€162,516 | +2,291% |
| Furniture and vehicles | 24 | €5,260 | €4,541 | -€719 | -13.7% |
| Other tangible fixed assets | 26 | €1,833 | €165,068 | +€163,235 | +8,903% |
| Financial fixed assets | 28 | €3,606,499 | €25,343,437 | +€21.7m | +603% |
| Current assets | 29/58 | €23,156,057 | €3,664,562 | -€19.5m | -84.2% |
| Amounts receivable within one year | 40/41 | €2,398,964 | €2,935,909 | +€536,945 | +22.4% |
| Trade receivables | 40 | €31,957 | €90,000 | +€58,043 | +182% |
| Other amounts receivable | 41 | €2,367,007 | €2,845,909 | +€478,902 | +20.2% |
| Current investments | 50/53 | €20,437,077 | €707,350 | -€19.7m | -96.5% |
| Cash at bank and in hand | 54/58 | €320,017 | €16,364 | -€303,653 | -94.9% |
| Deferred charges and accrued income | 490/1 | - | €4,940 | +€4,940 | |
| Total equity and liabilities | 10/49 | €26,769,650 | €29,177,609 | +€2.4m | +9.0% |
| Equity | 10/15 | €20,501,116 | €21,973,591 | +€1.5m | +7.2% |
| Contributions | 10/11 | €15,498,130 | €15,498,130 | = | 0.0% |
| Reserves | 13 | €5,002,986 | €6,475,461 | +€1.5m | +29.4% |
| Non-distributable reserves | 130/1 | €156,500 | €156,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €156,500 | €156,500 | = | 0.0% |
| Distributable reserves | 133 | €4,846,486 | €6,318,961 | +€1.5m | +30.4% |
| Amounts payable | 17/49 | €6,268,533 | €7,204,017 | +€935,484 | +14.9% |
| Amounts payable within one year | 42/48 | €6,194,873 | €6,083,867 | -€111,006 | -1.8% |
| Financial debts | 43 | €5,952,478 | €5,261,467 | -€691,011 | -11.6% |
| Credit institutions | 430/8 | €5,952,478 | €5,261,467 | -€691,011 | -11.6% |
| Trade debts | 44 | €8,165 | €18,136 | +€9,971 | +122% |
| Suppliers | 440/4 | €8,165 | €18,136 | +€9,971 | +122% |
| Taxes, remuneration and social security | 45 | €1,518 | €215,335 | +€213,817 | +14,081% |
| Taxes | 450/3 | €1,518 | €215,335 | +€213,817 | +14,081% |
| Other amounts payable | 47/48 | €232,711 | €588,929 | +€356,218 | +153% |
| Accrued charges and deferred income | 492/3 | €73,660 | €1,120,150 | +€1.0m | +1,421% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €177 | €966 | +€789 | +447% |
| Other operating charges | 640/8 | €128,693 | €185,122 | +€56,429 | +43.8% |
| Gross operating margin | 9900 | -€186,894 | -€279,164 | -€92,270 | -49.4% |
| Operating profit (loss) | 9901 | -€315,764 | -€465,252 | -€149,488 | -47.3% |
| Financial income | 75/76B | €3,109,066 | €3,274,359 | +€165,293 | +5.3% |
| Recurring financial income | 75 | €3,109,066 | €3,274,359 | +€165,293 | +5.3% |
| Financial charges | 65/66B | €582,844 | €317,559 | -€265,285 | -45.5% |
| Recurring financial charges | 65 | €582,844 | €317,559 | -€265,285 | -45.5% |
| Profit (loss) for the period before taxes | 9903 | €2,210,458 | €2,491,548 | +€281,090 | +12.7% |
| Income taxes | 67/77 | €220,152 | €430,144 | +€209,992 | +95.4% |
| Profit (loss) for the period | 9904 | €1,990,306 | €2,061,404 | +€71,098 | +3.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,990,306 | €2,061,404 | +€71,098 | +3.6% |
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 23 October 2026 via checked.be.