HOLDFAQUIN: 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.
HOLDFAQUIN
Largest movements
- Receivables within one year +€64,227
up €64,227 (+7954.9%), from €807 to €65,035
of which Other amounts receivable: +€64,152
- Current investments -€30,000
down €30,000 (-99.4%), from €30,179 to €179
- Cash -€11,416
down €11,416 (-75.2%), from €15,183 to €3,768
mainly Receivables within one year (-€64,227) and Debts after one year (-€42,858)
- Reserves +€62,995
up €62,995 (+16.2%), from €388,425 to €451,420
of which Distributable reserves: +€62,995
- Debts after one year -€42,858
down €42,858 (-100.0%), from €42,858 to €0
- Gross operating margin -€21,530
down €21,530 (-78.6%), from €27,377 to €5,847
- Financial income +€14,877
up €14,877 (+23.0%), from €64,781 to €79,658
- Taxes -€2,679
down €2,679 (-29.1%), from €9,208 to €6,529
- Financial charges -€2,003
down €2,003 (-13.0%), from €15,413 to €13,410
- Depreciation +€500
up €500 (+78.7%), from €636 to €1,136
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 | €885,713 | €911,130 | +€25,417 | +2.9% |
| Fixed assets | 21/28 | €838,529 | €840,219 | +€1,691 | +0.2% |
| Tangible fixed assets | 22/27 | €356 | €2,047 | +€1,691 | +474.7% |
| Furniture and vehicles | 24 | €356 | €2,047 | +€1,691 | +474.7% |
| Financial fixed assets | 28 | €838,172 | €838,172 | = | 0.0% |
| Current assets | 29/58 | €47,184 | €70,911 | +€23,726 | +50.3% |
| Amounts receivable within one year | 40/41 | €807 | €65,035 | +€64,227 | +7954.9% |
| Trade receivables | 40 | €0 | €76 | +€76 | |
| Other amounts receivable | 41 | €807 | €64,959 | +€64,152 | +7945.5% |
| Current investments | 50/53 | €30,179 | €179 | -€30,000 | -99.4% |
| Cash at bank and in hand | 54/58 | €15,183 | €3,768 | -€11,416 | -75.2% |
| Deferred charges and accrued income | 490/1 | €1,015 | €1,930 | +€914 | +90.1% |
| Total equity and liabilities | 10/49 | €885,713 | €911,130 | +€25,417 | +2.9% |
| Equity | 10/15 | €624,175 | €687,170 | +€62,995 | +10.1% |
| Contributions | 10/11 | €235,750 | €235,750 | = | 0.0% |
| Capital | 10 | €235,750 | €235,750 | = | 0.0% |
| Issued capital | 100 | €235,750 | €235,750 | = | 0.0% |
| Reserves | 13 | €388,425 | €451,420 | +€62,995 | +16.2% |
| Non-distributable reserves | 130/1 | €23,575 | €23,575 | = | 0.0% |
| Legal reserve | 130 | €23,575 | €23,575 | = | 0.0% |
| Distributable reserves | 133 | €364,850 | €427,845 | +€62,995 | +17.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €261,538 | €223,960 | -€37,578 | -14.4% |
| Amounts payable after more than one year | 17 | €42,858 | €0 | -€42,858 | -100.0% |
| Financial debts | 170/4 | €42,858 | €0 | -€42,858 | -100.0% |
| Amounts payable within one year | 42/48 | €205,293 | €212,093 | +€6,800 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €42,857 | €42,858 | +€1 | 0.0% |
| Trade debts | 44 | €119 | €227 | +€107 | +90.0% |
| Suppliers | 440/4 | €119 | €227 | +€107 | +90.0% |
| Taxes, remuneration and social security | 45 | €881 | €0 | -€881 | -100.0% |
| Taxes | 450/3 | €881 | €0 | -€881 | -100.0% |
| Other amounts payable | 47/48 | €161,436 | €169,008 | +€7,573 | +4.7% |
| Accrued charges and deferred income | 492/3 | €13,387 | €11,866 | -€1,520 | -11.4% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €636 | €1,136 | +€500 | +78.7% |
| Other operating charges | 640/8 | €1,442 | €1,436 | -€6 | -0.4% |
| Gross operating margin | 9900 | €27,377 | €5,847 | -€21,530 | -78.6% |
| Operating profit (loss) | 9901 | €25,299 | €3,275 | -€22,024 | -87.1% |
| Financial income | 75/76B | €64,781 | €79,658 | +€14,877 | +23.0% |
| Recurring financial income | 75 | €64,781 | €79,658 | +€14,877 | +23.0% |
| Financial charges | 65/66B | €15,413 | €13,410 | -€2,003 | -13.0% |
| Recurring financial charges | 65 | €15,413 | €13,410 | -€2,003 | -13.0% |
| Profit (loss) for the period before taxes | 9903 | €74,668 | €69,524 | -€5,144 | -6.9% |
| Income taxes | 67/77 | €9,208 | €6,529 | -€2,679 | -29.1% |
| Profit (loss) for the period | 9904 | €65,460 | €62,995 | -€2,465 | -3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €65,460 | €62,995 | -€2,465 | -3.8% |
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.