HEADSTART HOLDINGS: what changed
HEADSTART HOLDINGS
Largest movements
- Receivables within one year -€23,225
down €23,225 (-21.8%), from €106,683 to €83,458
of which Trade receivables: -€23,278
- Financial fixed assets +€22,168
up €22,168 (+12.7%), from €175,000 to €197,168
- Cash -€17,440
down €17,440 (-46.4%), from €37,568 to €20,128
mainly Net result for the year (-€24,984) and Investment in fixed assets (net) (-€22,168)
- Profit (loss) carried forward -€24,984
down €24,984 (-34.4%), from -€72,709 to -€97,693
- Other debts +€17,282
up €17,282 (+17.1%), from €101,005 to €118,288
- Trade debts -€11,896
down €11,896 (-74.9%), from €15,872 to €3,977
- Financial charges -€14,894
down €14,894 (-39.7%), from €37,542 to €22,649
of which Non-recurring financial charges: -€15,480
- Gross operating margin +€9,855
up €9,855 (+79.2%), from -€12,440 to -€2,585
- Financial income -€999
down €999 (-54.2%), from €1,842 to €844
- Other operating charges -€484
down €484 (-44.9%), from €1,078 to €594
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €320,169 | €301,672 | -€18,497 | -5.8% |
| Fixed assets | 21/28 | €175,000 | €197,168 | +€22,168 | +12.7% |
| Financial fixed assets | 28 | €175,000 | €197,168 | +€22,168 | +12.7% |
| Current assets | 29/58 | €145,169 | €104,504 | -€40,664 | -28.0% |
| Amounts receivable within one year | 40/41 | €106,683 | €83,458 | -€23,225 | -21.8% |
| Trade receivables | 40 | €29,631 | €6,353 | -€23,278 | -78.6% |
| Other amounts receivable | 41 | €77,052 | €77,106 | +€54 | +0.1% |
| Cash at bank and in hand | 54/58 | €37,568 | €20,128 | -€17,440 | -46.4% |
| Deferred charges and accrued income | 490/1 | €918 | €918 | = | 0.0% |
| Total equity and liabilities | 10/49 | €320,169 | €301,672 | -€18,497 | -5.8% |
| Equity | 10/15 | €202,291 | €177,307 | -€24,984 | -12.4% |
| Contributions | 10/11 | €275,000 | €275,000 | = | 0.0% |
| Capital | 10 | €275,000 | €275,000 | = | 0.0% |
| Issued capital | 100 | €275,000 | €275,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€72,709 | -€97,693 | -€24,984 | -34.4% |
| Amounts payable | 17/49 | €117,878 | €124,365 | +€6,487 | +5.5% |
| Amounts payable within one year | 42/48 | €116,877 | €123,360 | +€6,483 | +5.5% |
| Trade debts | 44 | €15,872 | €3,977 | -€11,896 | -74.9% |
| Suppliers | 440/4 | €15,872 | €3,977 | -€11,896 | -74.9% |
| Taxes, remuneration and social security | 45 | - | €1,096 | +€1,096 | |
| Taxes | 450/3 | - | €1,096 | +€1,096 | |
| Other amounts payable | 47/48 | €101,005 | €118,288 | +€17,282 | +17.1% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,004 | +€4 | +0.4% |
| Non-recurring operating income | 76A | - | €200 | +€200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €1,078 | €594 | -€484 | -44.9% |
| Gross operating margin | 9900 | -€12,440 | -€2,585 | +€9,855 | +79.2% |
| Operating profit (loss) | 9901 | -€13,518 | -€3,179 | +€10,339 | +76.5% |
| Financial income | 75/76B | €1,842 | €844 | -€999 | -54.2% |
| Recurring financial income | 75 | €1,842 | €844 | -€999 | -54.2% |
| Financial charges | 65/66B | €37,542 | €22,649 | -€14,894 | -39.7% |
| Recurring financial charges | 65 | €2,102 | €2,689 | +€587 | +27.9% |
| Non-recurring financial charges | 66B | €35,440 | €19,960 | -€15,480 | -43.7% |
| Profit (loss) for the period before taxes | 9903 | -€49,218 | -€24,984 | +€24,234 | +49.2% |
| Profit (loss) for the period | 9904 | -€49,218 | -€24,984 | +€24,234 | +49.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€49,218 | -€24,984 | +€24,234 | +49.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.