HOLDEN: 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.
HOLDEN
Largest movements
- Receivables within one year +€104,506
up €104,506 (+650.1%), from €16,076 to €120,582
of which Trade receivables: +€75,699
- Current investments -€75,000
no longer reported in 2025 (was €75,000)
- Cash +€11,082
up €11,082 (+96.7%), from €11,460 to €22,542
mainly Current investments (+€75,000) and Net result for the year (+€14,864)
- Deferred charges and accrued income -€9,282
down €9,282 (-69.7%), from €13,324 to €4,042
- Tangible fixed assets -€4,390
down €4,390 (-16.5%), from €26,590 to €22,199
of which Furniture and vehicles: -€2,529
- Tax, wage and social debts +€14,295
up €14,295 (+209.7%), from €6,816 to €21,112
- Reserves +€13,198
up €13,198 (+9.7%), from €136,058 to €149,257
- Other debts -€2,018
down €2,018 (-13.3%), from €15,201 to €13,183
- Gross operating margin +€21,395
up €21,395 (+204.1%), from €10,484 to €31,879
- Taxes +€6,182
up €6,182 (+298.9%), from €2,068 to €8,250
- Depreciation +€538
up €538 (+9.5%), from €5,633 to €6,171
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 | €167,450 | €194,365 | +€26,915 | +16.1% |
| Fixed assets | 21/28 | €51,590 | €47,199 | -€4,390 | -8.5% |
| Tangible fixed assets | 22/27 | €26,590 | €22,199 | -€4,390 | -16.5% |
| Plant, machinery and equipment | 23 | €607 | €307 | -€300 | -49.5% |
| Furniture and vehicles | 24 | €11,076 | €8,547 | -€2,529 | -22.8% |
| Other tangible fixed assets | 26 | €14,907 | €13,346 | -€1,561 | -10.5% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €115,860 | €147,166 | +€31,306 | +27.0% |
| Amounts receivable within one year | 40/41 | €16,076 | €120,582 | +€104,506 | +650.1% |
| Trade receivables | 40 | €14,883 | €90,582 | +€75,699 | +508.6% |
| Other amounts receivable | 41 | €1,193 | €30,000 | +€28,807 | +2413.9% |
| Current investments | 50/53 | €75,000 | - | -€75,000 | |
| Cash at bank and in hand | 54/58 | €11,460 | €22,542 | +€11,082 | +96.7% |
| Deferred charges and accrued income | 490/1 | €13,324 | €4,042 | -€9,282 | -69.7% |
| Total equity and liabilities | 10/49 | €167,450 | €194,365 | +€26,915 | +16.1% |
| Equity | 10/15 | €142,258 | €155,457 | +€13,198 | +9.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €136,058 | €149,257 | +€13,198 | +9.7% |
| Distributable reserves | 133 | €136,058 | €149,257 | +€13,198 | +9.7% |
| Amounts payable | 17/49 | €25,192 | €38,909 | +€13,717 | +54.5% |
| Amounts payable within one year | 42/48 | €23,816 | €35,799 | +€11,984 | +50.3% |
| Trade debts | 44 | €1,799 | €1,505 | -€293 | -16.3% |
| Suppliers | 440/4 | €1,799 | €1,505 | -€293 | -16.3% |
| Taxes, remuneration and social security | 45 | €6,816 | €21,112 | +€14,295 | +209.7% |
| Taxes | 450/3 | €6,816 | €21,112 | +€14,295 | +209.7% |
| Other amounts payable | 47/48 | €15,201 | €13,183 | -€2,018 | -13.3% |
| Accrued charges and deferred income | 492/3 | €1,376 | €3,109 | +€1,734 | +126.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,633 | €6,171 | +€538 | +9.5% |
| Other operating charges | 640/8 | €759 | €781 | +€22 | +2.9% |
| Gross operating margin | 9900 | €10,484 | €31,879 | +€21,395 | +204.1% |
| Operating profit (loss) | 9901 | €4,093 | €24,928 | +€20,836 | +509.1% |
| Financial income | 75/76B | €1,468 | €1,188 | -€280 | -19.1% |
| Recurring financial income | 75 | €1,468 | €1,188 | -€280 | -19.1% |
| Financial charges | 65/66B | €3,312 | €3,002 | -€309 | -9.3% |
| Recurring financial charges | 65 | €3,312 | €3,002 | -€309 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €2,249 | €23,114 | +€20,865 | +927.7% |
| Income taxes | 67/77 | €2,068 | €8,250 | +€6,182 | +298.9% |
| Profit (loss) for the period | 9904 | €181 | €14,864 | +€14,683 | +8128.6% |
| Profit (loss) for the period to be appropriated | 9905 | €181 | €14,864 | +€14,683 | +8128.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.