HOLDAST: what changed
HOLDAST
Largest movements
- Tangible fixed assets -€376,259
down €376,259 (-66.7%), from €564,520 to €188,261
of which Land and buildings: -€325,000
- Cash +€48,066
up €48,066 (+44.0%), from €109,223 to €157,289
mainly Investment in fixed assets (net) (+€325,000) and Depreciation (+€51,259)
- Debts after one year -€185,837
down €185,837 (-22.9%), from €812,203 to €626,366
of which Financial debts: -€158,381
- Other debts -€61,686
down €61,686 (-43.7%), from €141,061 to €79,376
- Profit (loss) carried forward -€46,550
down €46,550 (-24.2%), from -€192,659 to -€239,209
- Current portion of long-term debt -€30,697
down €30,697 (-51.0%), from €60,190 to €29,492
- Tax, wage and social debts -€22,264
down €22,264 (-48.0%), from €46,361 to €24,097
of which Taxes: -€12,812
- Gross operating margin -€112,877
down €112,877 (-51.1%), from €220,845 to €107,968
- Depreciation +€31,673
up €31,673 (+162%), from €19,587 to €51,259
- Other operating charges -€29,753
down €29,753 (-86.6%), from €34,354 to €4,601
- Staff costs +€9,614
up €9,614 (+29.0%), from €33,094 to €42,708
- Taxes -€7,615
down €7,615 (-91.3%), from €8,345 to €730
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,842,180 | €1,511,348 | -€330,833 | -18.0% |
| Fixed assets | 21/28 | €1,729,529 | €1,353,270 | -€376,259 | -21.8% |
| Tangible fixed assets | 22/27 | €564,520 | €188,261 | -€376,259 | -66.7% |
| Land and buildings | 22 | €325,000 | €0 | -€325,000 | -100% |
| Furniture and vehicles | 24 | €239,520 | €188,261 | -€51,259 | -21.4% |
| Financial fixed assets | 28 | €1,165,009 | €1,165,009 | = | 0.0% |
| Current assets | 29/58 | €112,651 | €158,078 | +€45,427 | +40.3% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €109,223 | €157,289 | +€48,066 | +44.0% |
| Deferred charges and accrued income | 490/1 | €3,428 | €789 | -€2,639 | -77.0% |
| Total equity and liabilities | 10/49 | €1,842,180 | €1,511,348 | -€330,833 | -18.0% |
| Equity | 10/15 | €775,072 | €728,522 | -€46,550 | -6.0% |
| Contributions | 10/11 | €675,000 | €675,000 | = | 0.0% |
| Reserves | 13 | €292,731 | €292,731 | = | 0.0% |
| Distributable reserves | 133 | €292,731 | €292,731 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€192,659 | -€239,209 | -€46,550 | -24.2% |
| Amounts payable | 17/49 | €1,067,108 | €782,825 | -€284,283 | -26.6% |
| Amounts payable after more than one year | 17 | €812,203 | €626,366 | -€185,837 | -22.9% |
| Financial debts | 170/4 | €225,147 | €66,766 | -€158,381 | -70.3% |
| Other amounts payable | 178/9 | €587,056 | €559,600 | -€27,456 | -4.7% |
| Amounts payable within one year | 42/48 | €248,887 | €148,903 | -€99,984 | -40.2% |
| Current portion of amounts payable after more than one year | 42 | €60,190 | €29,492 | -€30,697 | -51.0% |
| Trade debts | 44 | €1,275 | €15,938 | +€14,664 | +1,150% |
| Suppliers | 440/4 | €1,275 | €15,938 | +€14,664 | +1,150% |
| Taxes, remuneration and social security | 45 | €46,361 | €24,097 | -€22,264 | -48.0% |
| Taxes | 450/3 | €31,491 | €18,679 | -€12,812 | -40.7% |
| Remuneration and social security | 454/9 | €14,870 | €5,418 | -€9,453 | -63.6% |
| Other amounts payable | 47/48 | €141,061 | €79,376 | -€61,686 | -43.7% |
| Accrued charges and deferred income | 492/3 | €6,018 | €7,556 | +€1,538 | +25.6% |
| Non-recurring operating income | 76A | €171,485 | €5,120 | -€166,365 | -97.0% |
| Remuneration, social security and pensions | 62 | €33,094 | €42,708 | +€9,614 | +29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,587 | €51,259 | +€31,673 | +162% |
| Other operating charges | 640/8 | €34,354 | €4,601 | -€29,753 | -86.6% |
| Gross operating margin | 9900 | €220,845 | €107,968 | -€112,877 | -51.1% |
| Operating profit (loss) | 9901 | €133,810 | €9,399 | -€124,410 | -93.0% |
| Financial income | 75/76B | €4 | €0 | -€4 | -99.7% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -99.7% |
| Financial charges | 65/66B | €61,187 | €55,219 | -€5,968 | -9.8% |
| Recurring financial charges | 65 | €61,187 | €55,219 | -€5,968 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €72,626 | -€45,820 | -€118,446 | |
| Income taxes | 67/77 | €8,345 | €730 | -€7,615 | -91.3% |
| Profit (loss) for the period | 9904 | €64,282 | -€46,550 | -€110,831 | |
| Profit (loss) for the period to be appropriated | 9905 | €64,282 | -€46,550 | -€110,831 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.