HOLDBERG: 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.
HOLDBERG
Largest movements
- Receivables within one year -€1.4m
down €1.4m (-81.3%), from €1.7m to €313,500
- Other debts -€1.4m
down €1.4m (-23.0%), from €5.9m to €4.5m
- Accrued charges and deferred income +€102,781
new in 2025: €102,781
- Profit (loss) carried forward -€87,400
down €87,400, from €1,292 to -€86,107
- Financial charges +€105,845
up €105,845, from -€1,426 to €104,419
- Financial income +€19,438
up €19,438 (+4213.1%), from €461 to €19,900
- Gross operating margin -€1,965
new in 2025: -€1,965
- Other operating charges +€321
up €321 (+53.9%), from €595 to €916
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 | €5,914,776 | €4,570,081 | -€1.3m | -22.7% |
| Fixed assets | 21/28 | €4,235,000 | €4,235,000 | = | 0.0% |
| Financial fixed assets | 28 | €4,235,000 | €4,235,000 | = | 0.0% |
| Current assets | 29/58 | €1,679,776 | €335,081 | -€1.3m | -80.1% |
| Amounts receivable within one year | 40/41 | €1,676,484 | €313,500 | -€1.4m | -81.3% |
| Other amounts receivable | 41 | €1,676,484 | €313,500 | -€1.4m | -81.3% |
| Cash at bank and in hand | 54/58 | €1,193 | €1,220 | +€27 | +2.3% |
| Deferred charges and accrued income | 490/1 | €2,099 | €20,361 | +€18,262 | +869.9% |
| Total equity and liabilities | 10/49 | €5,914,776 | €4,570,081 | -€1.3m | -22.7% |
| Equity | 10/15 | €6,292 | -€81,107 | -€87,400 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,292 | -€86,107 | -€87,400 | |
| Amounts payable | 17/49 | €5,908,484 | €4,651,189 | -€1.3m | -21.3% |
| Amounts payable within one year | 42/48 | €5,908,484 | €4,548,408 | -€1.4m | -23.0% |
| Other amounts payable | 47/48 | €5,908,484 | €4,548,408 | -€1.4m | -23.0% |
| Accrued charges and deferred income | 492/3 | - | €102,781 | +€102,781 | |
| Other operating charges | 640/8 | €595 | €916 | +€321 | +53.9% |
| Gross operating margin | 9900 | - | -€1,965 | -€1,965 | |
| Operating profit (loss) | 9901 | -€595 | -€2,881 | -€2,286 | -384.2% |
| Financial income | 75/76B | €461 | €19,900 | +€19,438 | +4213.1% |
| Recurring financial income | 75 | €461 | €19,900 | +€19,438 | +4213.1% |
| Financial charges | 65/66B | -€1,426 | €104,419 | +€105,845 | |
| Recurring financial charges | 65 | -€1,426 | €104,419 | +€105,845 | |
| Profit (loss) for the period before taxes | 9903 | €1,292 | -€87,400 | -€88,692 | |
| Profit (loss) for the period | 9904 | €1,292 | -€87,400 | -€88,692 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,292 | -€87,400 | -€88,692 |
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 4 October 2026 via checked.be.