HOLADCO: 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.
HOLADCO
Largest movements
- Receivables after one year -€311,838
down €311,838 (-18.7%), from €1.7m to €1.4m
- Receivables within one year -€259,115
down €259,115 (-84.9%), from €305,342 to €46,227
of which Trade receivables: -€302,999
- Cash +€118,539
up €118,539 (+425%), from €27,873 to €146,412
mainly Receivables after one year (+€311,838) and Receivables within one year (+€259,115)
- Other debts -€190,390
down €190,390 (-55.6%), from €342,456 to €152,066
- Reserves -€113,000
down €113,000 (-5.7%), from €2.0m to €1.9m
- Provisions -€95,442
down €95,442 (-7.5%), from €1.3m to €1.2m
- Tax, wage and social debts -€57,975
down €57,975 (-37.6%), from €154,133 to €96,158
of which Taxes: -€58,285
- Financial income -€778,358
down €778,358 (-95.5%), from €814,955 to €36,596
- Taxes -€63,674
down €63,674 (-95.5%), from €66,647 to €2,973
- Staff costs -€42,125
down €42,125 (-32.5%), from €129,790 to €87,665
- Gross operating margin +€17,053
up €17,053 (+15.2%), from €111,828 to €128,881
- Turnover +€12,737
up €12,737 (+3.2%), from €398,469 to €411,206
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 | €5,362,093 | €4,896,210 | -€465,883 | -8.7% |
| Fixed assets | 21/28 | €3,341,482 | €3,336,237 | -€5,245 | -0.2% |
| Tangible fixed assets | 22/27 | €37,506 | €32,261 | -€5,245 | -14.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €8,565 | €3,320 | -€5,245 | -61.2% |
| Other tangible fixed assets | 26 | €28,941 | €28,941 | = | 0.0% |
| Financial fixed assets | 28 | €3,303,976 | €3,303,976 | = | 0.0% |
| Current assets | 29/58 | €2,020,611 | €1,559,973 | -€460,638 | -22.8% |
| Amounts receivable after more than one year | 29 | €1,671,838 | €1,360,000 | -€311,838 | -18.7% |
| Other amounts receivable | 291 | €1,671,838 | €1,360,000 | -€311,838 | -18.7% |
| Amounts receivable within one year | 40/41 | €305,342 | €46,227 | -€259,115 | -84.9% |
| Trade receivables | 40 | €302,999 | €0 | -€302,999 | -100% |
| Other amounts receivable | 41 | €2,343 | €46,227 | +€43,884 | +1,873% |
| Cash at bank and in hand | 54/58 | €27,873 | €146,412 | +€118,539 | +425% |
| Deferred charges and accrued income | 490/1 | €15,558 | €7,334 | -€8,224 | -52.9% |
| Total equity and liabilities | 10/49 | €5,362,093 | €4,896,210 | -€465,883 | -8.7% |
| Equity | 10/15 | €3,569,787 | €3,457,665 | -€112,122 | -3.1% |
| Contributions | 10/11 | €1,280,000 | €1,280,000 | = | 0.0% |
| Reserves | 13 | €1,967,200 | €1,854,200 | -€113,000 | -5.7% |
| Distributable reserves | 133 | €1,967,200 | €1,854,200 | -€113,000 | -5.7% |
| Profit (loss) carried forward | 14 | €322,587 | €323,465 | +€878 | +0.3% |
| Provisions and deferred taxes | 16 | €1,270,793 | €1,175,350 | -€95,442 | -7.5% |
| Provisions for liabilities and charges | 160/5 | €1,270,793 | €1,175,350 | -€95,442 | -7.5% |
| Environmental obligations | 163 | €1,270,793 | €1,175,350 | -€95,442 | -7.5% |
| Amounts payable | 17/49 | €521,513 | €263,194 | -€258,319 | -49.5% |
| Amounts payable within one year | 42/48 | €521,513 | €263,194 | -€258,319 | -49.5% |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €24,924 | €14,969 | -€9,954 | -39.9% |
| Suppliers | 440/4 | €24,924 | €14,969 | -€9,954 | -39.9% |
| Taxes, remuneration and social security | 45 | €154,133 | €96,158 | -€57,975 | -37.6% |
| Taxes | 450/3 | €145,416 | €87,130 | -€58,285 | -40.1% |
| Remuneration and social security | 454/9 | €8,717 | €9,028 | +€311 | +3.6% |
| Other amounts payable | 47/48 | €342,456 | €152,066 | -€190,390 | -55.6% |
| Turnover | 70 | €398,469 | €411,206 | +€12,737 | +3.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €304,430 | €294,154 | -€10,276 | -3.4% |
| Remuneration, social security and pensions | 62 | €129,790 | €87,665 | -€42,125 | -32.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,220 | €5,245 | +€25 | +0.5% |
| Other operating charges | 640/8 | €404 | €159 | -€244 | -60.5% |
| Gross operating margin | 9900 | €111,828 | €128,881 | +€17,053 | +15.2% |
| Operating profit (loss) | 9901 | -€23,587 | €35,811 | +€59,398 | |
| Financial income | 75/76B | €814,955 | €36,596 | -€778,358 | -95.5% |
| Recurring financial income | 75 | €814,955 | €36,596 | -€778,358 | -95.5% |
| Financial charges | 65/66B | €49,088 | €45,556 | -€3,532 | -7.2% |
| Recurring financial charges | 65 | €49,088 | €45,556 | -€3,532 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €742,280 | €26,851 | -€715,429 | -96.4% |
| Income taxes | 67/77 | €66,647 | €2,973 | -€63,674 | -95.5% |
| Profit (loss) for the period | 9904 | €675,633 | €23,878 | -€651,755 | -96.5% |
| Profit (loss) for the period to be appropriated | 9905 | €675,633 | €23,878 | -€651,755 | -96.5% |
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 19 October 2026 via checked.be.