HOLCIM GO4ZERO: 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.
HOLCIM GO4ZERO
Largest movements
- Tangible fixed assets +€116.4m
up €116.4m (+129.9%), from €89.6m to €205.9m
- Receivables within one year +€39.6m
up €39.6m (+573.5%), from €6.9m to €46.5m
of which Other amounts receivable: +€45.1m
- Debts after one year +€67.6m
up €67.6m (+119.0%), from €56.8m to €124.3m
- Short-term financial debts +€64.1m
up €64.1m (+557.3%), from €11.5m to €75.6m
of which Credit institutions: +€65.5m
- Investment grants +€43.8m
new in 2025: €43.8m
- Trade debts -€16.3m
down €16.3m (-55.9%), from €29.1m to €12.8m
- Profit (loss) carried forward -€4.9m
down €4.9m (-219.2%), from -€2.3m to -€7.2m
- Financial charges +€2.6m
up €2.6m (+104.5%), from €2.5m to €5.1m
- Financial income -€73,999
down €73,999 (-30.1%), from €245,469 to €171,471
- Gross operating margin -€6,268
new in 2025: -€6,268
- Services and other goods -€4,322
no longer reported in 2025 (was €4,322)
- Other operating charges +€3,562
new in 2025: €3,562
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 | €96,534,470 | €252,504,170 | +€156.0m | +161.6% |
| Formation expenses | 20 | €15,275 | €11,118 | -€4,157 | -27.2% |
| Fixed assets | 21/28 | €89,585,993 | €205,944,504 | +€116.4m | +129.9% |
| Tangible fixed assets | 22/27 | €89,585,993 | €205,944,504 | +€116.4m | +129.9% |
| Assets under construction and advance payments | 27 | €89,585,993 | €205,944,504 | +€116.4m | +129.9% |
| Current assets | 29/58 | €6,933,202 | €46,548,548 | +€39.6m | +571.4% |
| Amounts receivable within one year | 40/41 | €6,900,642 | €46,478,740 | +€39.6m | +573.5% |
| Trade receivables | 40 | €5,531,188 | €43,549 | -€5.5m | -99.2% |
| Other amounts receivable | 41 | €1,369,454 | €46,435,191 | +€45.1m | +3290.8% |
| Cash at bank and in hand | 54/58 | - | €51,090 | +€51,090 | |
| Deferred charges and accrued income | 490/1 | €32,560 | €18,718 | -€13,842 | -42.5% |
| Total equity and liabilities | 10/49 | €96,534,470 | €252,504,170 | +€156.0m | +161.6% |
| Equity | 10/15 | -€2,157,218 | €36,706,585 | +€38.9m | |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,257,218 | -€7,205,465 | -€4.9m | -219.2% |
| Investment grants | 15 | - | €43,812,050 | +€43.8m | |
| Amounts payable | 17/49 | €98,691,688 | €215,797,586 | +€117.1m | +118.7% |
| Amounts payable after more than one year | 17 | €56,769,927 | €124,346,499 | +€67.6m | +119.0% |
| Financial debts | 170/4 | €56,769,927 | €124,346,499 | +€67.6m | +119.0% |
| Other loans | 174 | €56,769,927 | - | -€56.8m | |
| Amounts payable within one year | 42/48 | €40,635,985 | €88,599,904 | +€48.0m | +118.0% |
| Financial debts | 43 | €11,496,691 | €75,568,094 | +€64.1m | +557.3% |
| Credit institutions | 430/8 | €10,018,853 | €75,568,094 | +€65.5m | +654.3% |
| Other loans | 439 | €1,477,839 | - | -€1.5m | |
| Trade debts | 44 | €29,139,293 | €12,842,514 | -€16.3m | -55.9% |
| Suppliers | 440/4 | €29,139,293 | €12,842,514 | -€16.3m | -55.9% |
| Taxes, remuneration and social security | 45 | - | €189,297 | +€189,297 | |
| Remuneration and social security | 454/9 | - | €189,297 | +€189,297 | |
| Accrued charges and deferred income | 492/3 | €1,285,776 | €2,851,183 | +€1.6m | +121.7% |
| Operating charges | 60/66A | €4,322 | - | -€4,322 | |
| Services and other goods | 61 | €4,322 | - | -€4,322 | |
| Other operating charges | 640/8 | - | €3,562 | +€3,562 | |
| Gross operating margin | 9900 | - | -€6,268 | -€6,268 | |
| Operating profit (loss) | 9901 | -€4,322 | -€9,829 | -€5,507 | -127.4% |
| Financial income | 75/76B | €245,469 | €171,471 | -€73,999 | -30.1% |
| Recurring financial income | 75 | €245,469 | €171,471 | -€73,999 | -30.1% |
| Income from current assets | 751 | €245,469 | - | -€245,469 | |
| Financial charges | 65/66B | €2,498,365 | €5,109,889 | +€2.6m | +104.5% |
| Recurring financial charges | 65 | €2,498,365 | €5,109,889 | +€2.6m | +104.5% |
| Debt charges | 650 | €2,455,703 | - | -€2.5m | |
| Other financial charges | 652/9 | €42,663 | - | -€42,663 | |
| Profit (loss) for the period before taxes | 9903 | -€2,257,218 | -€4,948,247 | -€2.7m | -119.2% |
| Profit (loss) for the period | 9904 | -€2,257,218 | -€4,948,247 | -€2.7m | -119.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,257,218 | -€4,948,247 | -€2.7m | -119.2% |
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 5 October 2026 via checked.be.