HOLAM: 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.
HOLAM
Largest movements
- Current investments +€628,420
up €628,420 (+6.5%), from €9.7m to €10.3m
- Cash +€388,178
up €388,178 (+115%), from €337,781 to €725,959
mainly Net result for the year (+€501,635) and Other debts (+€303,815)
- Tangible fixed assets -€199,760
down €199,760 (-7.0%), from €2.8m to €2.6m
- Reserves +€501,635
up €501,635 (+6.1%), from €8.2m to €8.7m
of which Distributable reserves: +€476,553
- Other debts +€303,815
up €303,815 (+5.0%), from €6.1m to €6.4m
- Financial income +€449,989
up €449,989 (+319%), from €140,857 to €590,846
of which Financial income: +€451,812
- Gross operating margin -€82,862
down €82,862 (-12.0%), from €690,853 to €607,992
- Financial charges -€32,800
down €32,800 (-6.8%), from €479,788 to €446,989
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 | €17,974,216 | €18,803,920 | +€829,704 | +4.6% |
| Fixed assets | 21/28 | €7,139,062 | €6,939,302 | -€199,760 | -2.8% |
| Tangible fixed assets | 22/27 | €2,836,548 | €2,636,788 | -€199,760 | -7.0% |
| Land and buildings | 22 | €2,836,548 | €2,636,788 | -€199,760 | -7.0% |
| Financial fixed assets | 28 | €4,302,514 | €4,302,514 | = | 0.0% |
| Current assets | 29/58 | €10,835,154 | €11,864,618 | +€1.0m | +9.5% |
| Amounts receivable within one year | 40/41 | €181,427 | €285,686 | +€104,260 | +57.5% |
| Trade receivables | 40 | €48,470 | €48,470 | = | 0.0% |
| Other amounts receivable | 41 | €132,957 | €237,216 | +€104,260 | +78.4% |
| Current investments | 50/53 | €9,657,333 | €10,285,753 | +€628,420 | +6.5% |
| Cash at bank and in hand | 54/58 | €337,781 | €725,959 | +€388,178 | +115% |
| Deferred charges and accrued income | 490/1 | €658,613 | €567,219 | -€91,394 | -13.9% |
| Total equity and liabilities | 10/49 | €17,974,216 | €18,803,920 | +€829,704 | +4.6% |
| Equity | 10/15 | €11,692,966 | €12,194,601 | +€501,635 | +4.3% |
| Contributions | 10/11 | €3,500,000 | €3,500,000 | = | 0.0% |
| Capital | 10 | €3,500,000 | €3,500,000 | = | 0.0% |
| Issued capital | 100 | €3,500,000 | €3,500,000 | = | 0.0% |
| Reserves | 13 | €8,192,966 | €8,694,601 | +€501,635 | +6.1% |
| Non-distributable reserves | 130/1 | €58,059 | €83,141 | +€25,082 | +43.2% |
| Legal reserve | 130 | €58,059 | €83,141 | +€25,082 | +43.2% |
| Distributable reserves | 133 | €8,134,907 | €8,611,460 | +€476,553 | +5.9% |
| Amounts payable | 17/49 | €6,281,250 | €6,609,319 | +€328,069 | +5.2% |
| Amounts payable within one year | 42/48 | €6,281,250 | €6,609,319 | +€328,069 | +5.2% |
| Trade debts | 44 | €11,347 | €48 | -€11,299 | -99.6% |
| Suppliers | 440/4 | €11,347 | €48 | -€11,299 | -99.6% |
| Taxes, remuneration and social security | 45 | €139,654 | €175,207 | +€35,553 | +25.5% |
| Taxes | 450/3 | €139,654 | €130,207 | -€9,447 | -6.8% |
| Remuneration and social security | 454/9 | - | €45,000 | +€45,000 | |
| Other amounts payable | 47/48 | €6,130,249 | €6,434,065 | +€303,815 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €199,760 | €199,760 | = | 0.0% |
| Other operating charges | 640/8 | €44,303 | €46,692 | +€2,389 | +5.4% |
| Gross operating margin | 9900 | €690,853 | €607,992 | -€82,862 | -12.0% |
| Operating profit (loss) | 9901 | €446,791 | €361,540 | -€85,251 | -19.1% |
| Financial income | 75/76B | €140,857 | €590,846 | +€449,989 | +319% |
| Recurring financial income | 75 | €139,034 | €590,846 | +€451,812 | +325% |
| Non-recurring financial income | 76B | €1,823 | - | -€1,823 | |
| Financial charges | 65/66B | €479,788 | €446,989 | -€32,800 | -6.8% |
| Recurring financial charges | 65 | €479,788 | €446,989 | -€32,800 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €107,860 | €505,398 | +€397,538 | +369% |
| Income taxes | 67/77 | €9,434 | €3,763 | -€5,671 | -60.1% |
| Profit (loss) for the period | 9904 | €98,426 | €501,635 | +€403,209 | +410% |
| Profit (loss) for the period to be appropriated | 9905 | €98,426 | €501,635 | +€403,209 | +410% |
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 13 October 2026 via checked.be.