HLDNG: 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.
HLDNG
Largest movements
- Cash -€22,179
down €22,179 (-99.5%), from €22,286 to €107
mainly Debts after one year (-€227,334) and Other debts (-€59,195)
- Profit (loss) carried forward +€264,820
up €264,820, from -€8,412 to €256,408
- Debts after one year -€227,334
down €227,334 (-37.1%), from €612,680 to €385,346
- Other debts -€59,195
down €59,195 (-47.4%), from €125,000 to €65,805
- Financial income +€260,000
new in 2025: €260,000
- Financial charges -€2,581
down €2,581 (-20.1%), from €12,816 to €10,235
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 | €922,628 | €902,499 | -€20,129 | -2.2% |
| Fixed assets | 21/28 | €900,000 | €900,000 | = | 0.0% |
| Financial fixed assets | 28 | €900,000 | €900,000 | = | 0.0% |
| Current assets | 29/58 | €22,628 | €2,499 | -€20,129 | -89.0% |
| Amounts receivable within one year | 40/41 | €26 | €2,026 | +€2,000 | +7619.0% |
| Other amounts receivable | 41 | €26 | €2,026 | +€2,000 | +7619.0% |
| Cash at bank and in hand | 54/58 | €22,286 | €107 | -€22,179 | -99.5% |
| Deferred charges and accrued income | 490/1 | €316 | €366 | +€50 | +15.8% |
| Total equity and liabilities | 10/49 | €922,628 | €902,499 | -€20,129 | -2.2% |
| Equity | 10/15 | €91,588 | €356,408 | +€264,820 | +289.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,412 | €256,408 | +€264,820 | |
| Amounts payable | 17/49 | €831,040 | €546,091 | -€284,949 | -34.3% |
| Amounts payable after more than one year | 17 | €612,680 | €385,346 | -€227,334 | -37.1% |
| Financial debts | 170/4 | €612,680 | €385,346 | -€227,334 | -37.1% |
| Amounts payable within one year | 42/48 | €218,360 | €160,745 | -€57,615 | -26.4% |
| Current portion of amounts payable after more than one year | 42 | €92,808 | €94,334 | +€1,526 | +1.6% |
| Trade debts | 44 | €293 | €354 | +€61 | +20.6% |
| Suppliers | 440/4 | €293 | €354 | +€61 | +20.6% |
| Taxes, remuneration and social security | 45 | €259 | €252 | -€7 | -2.8% |
| Taxes | 450/3 | €259 | €252 | -€7 | -2.8% |
| Other amounts payable | 47/48 | €125,000 | €65,805 | -€59,195 | -47.4% |
| Other operating charges | 640/8 | €1,030 | €1,060 | +€31 | +3.0% |
| Gross operating margin | 9900 | €16,242 | €16,116 | -€126 | -0.8% |
| Operating profit (loss) | 9901 | €15,213 | €15,055 | -€157 | -1.0% |
| Financial income | 75/76B | - | €260,000 | +€260,000 | |
| Recurring financial income | 75 | - | €260,000 | +€260,000 | |
| Financial charges | 65/66B | €12,816 | €10,235 | -€2,581 | -20.1% |
| Recurring financial charges | 65 | €12,816 | €10,235 | -€2,581 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €2,396 | €264,820 | +€262,424 | +10950.5% |
| Profit (loss) for the period | 9904 | €2,396 | €264,820 | +€262,424 | +10950.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,396 | €264,820 | +€262,424 | +10950.5% |
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.