HO-LA: 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.
HO-LA
Largest movements
- Tangible fixed assets -€13,149
down €13,149 (-26.7%), from €49,208 to €36,059
- Cash +€9,682
up €9,682 (+153%), from €6,323 to €16,005
mainly Depreciation (+€13,149) and Receivables within one year (+€8,940)
- Receivables within one year -€8,940
down €8,940 (-99.5%), from €8,983 to €43
- Deferred charges and accrued income +€1,322
new in 2025: €1,322
- Debts after one year -€8,640
down €8,640 (-26.2%), from €33,000 to €24,360
- Other debts -€4,155
down €4,155 (-51.0%), from €8,154 to €3,999
- Profit (loss) carried forward +€2,195
up €2,195 (+27.0%), from €8,128 to €10,324
- Trade debts -€1,008
down €1,008 (-32.6%), from €3,088 to €2,081
- Current portion of long-term debt +€811
up €811 (+11.1%), from €7,273 to €8,084
- Gross operating margin +€9,819
up €9,819 (+103%), from €9,567 to €19,387
- Depreciation +€6,926
up €6,926 (+111%), from €6,223 to €13,149
- Financial charges +€807
up €807 (+188%), from €429 to €1,235
- Taxes +€295
up €295 (+61.1%), from €483 to €779
- Other operating charges -€203
down €203 (-9.1%), from €2,231 to €2,028
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 | €64,514 | €53,429 | -€11,084 | -17.2% |
| Fixed assets | 21/28 | €49,208 | €36,059 | -€13,149 | -26.7% |
| Tangible fixed assets | 22/27 | €49,208 | €36,059 | -€13,149 | -26.7% |
| Furniture and vehicles | 24 | €49,208 | €36,059 | -€13,149 | -26.7% |
| Current assets | 29/58 | €15,306 | €17,370 | +€2,065 | +13.5% |
| Amounts receivable within one year | 40/41 | €8,983 | €43 | -€8,940 | -99.5% |
| Other amounts receivable | 41 | €8,983 | €43 | -€8,940 | -99.5% |
| Cash at bank and in hand | 54/58 | €6,323 | €16,005 | +€9,682 | +153% |
| Deferred charges and accrued income | 490/1 | - | €1,322 | +€1,322 | |
| Total equity and liabilities | 10/49 | €64,514 | €53,429 | -€11,084 | -17.2% |
| Equity | 10/15 | €10,628 | €12,824 | +€2,195 | +20.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,128 | €10,324 | +€2,195 | +27.0% |
| Amounts payable | 17/49 | €53,886 | €40,606 | -€13,280 | -24.6% |
| Amounts payable after more than one year | 17 | €33,000 | €24,360 | -€8,640 | -26.2% |
| Financial debts | 170/4 | €33,000 | €24,360 | -€8,640 | -26.2% |
| Amounts payable within one year | 42/48 | €20,886 | €16,246 | -€4,640 | -22.2% |
| Current portion of amounts payable after more than one year | 42 | €7,273 | €8,084 | +€811 | +11.1% |
| Trade debts | 44 | €3,088 | €2,081 | -€1,008 | -32.6% |
| Suppliers | 440/4 | €3,088 | €2,081 | -€1,008 | -32.6% |
| Taxes, remuneration and social security | 45 | €2,370 | €2,083 | -€288 | -12.1% |
| Taxes | 450/3 | €2,370 | €2,083 | -€288 | -12.1% |
| Other amounts payable | 47/48 | €8,154 | €3,999 | -€4,155 | -51.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,223 | €13,149 | +€6,926 | +111% |
| Other operating charges | 640/8 | €2,231 | €2,028 | -€203 | -9.1% |
| Gross operating margin | 9900 | €9,567 | €19,387 | +€9,819 | +103% |
| Operating profit (loss) | 9901 | €1,112 | €4,209 | +€3,097 | +278% |
| Financial charges | 65/66B | €429 | €1,235 | +€807 | +188% |
| Recurring financial charges | 65 | €429 | €1,235 | +€807 | +188% |
| Profit (loss) for the period before taxes | 9903 | €684 | €2,974 | +€2,290 | +335% |
| Income taxes | 67/77 | €483 | €779 | +€295 | +61.1% |
| Profit (loss) for the period | 9904 | €201 | €2,195 | +€1,995 | +994% |
| Profit (loss) for the period to be appropriated | 9905 | €201 | €2,195 | +€1,995 | +994% |
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 15 October 2026 via checked.be.