Holding 837: what changed
What changed
Holding 837
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€2.1m
2024 · €2.1m+€39,251
Equity
€3.6m
2024 · €2.5m+€1.1m
Cash
€23,031
2024 · €1.1m-€1.0m
Balance sheet total
€7.3m
2024 · €7.6m-€269,774
Largest movements
Assets
- Cash -€1.0m
down €1.0m (-97.8%), from €1.1m to €23,031
mainly Current portion of long-term debt (-€1.6m) and Contributions, distributions and other (-€1.0m)
- Financial fixed assets +€390,000
up €390,000 (+6.0%), from €6.5m to €6.9m
- Receivables within one year +€370,693
up €370,693 (+722%), from €51,360 to €422,053
of which Trade receivables: +€363,214
Equity and liabilities
- Current portion of long-term debt -€1.6m
no longer reported in 2025 (was €1.6m)
- Profit (loss) carried forward +€1.1m
up €1.1m (+51.2%), from €2.1m to €3.2m
- Short-term financial debts +€130,000
new in 2025: €130,000
- Trade debts +€93,067
up €93,067 (+484%), from €19,212 to €112,279
Income statement
- Turnover +€176,083
up €176,083 (+75.5%), from €233,217 to €409,300
- Services and other goods +€113,533
up €113,533 (+84.8%), from €133,875 to €247,407
- Financial charges +€14,776
up €14,776 (+75.9%), from €19,467 to €34,243
- Taxes +€13,656
up €13,656 (+66.8%), from €20,445 to €34,101
- Financial income +€5,163
up €5,163 (+0.3%), from €2.0m to €2.0m
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.
Result 2024
€2.1m
Turnover
+€176,083
Services and other goods
-€113,533
Other operating charges
-€31
Financial income
+€5,163
Financial charges
-€14,776
Taxes
-€13,656
Result 2025
€2.1m
raises the resultlowers the result
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.
From operations
+€1.8m
Investment
-€390,000
Financing
-€2.5m
Cash 2024
€1.1m
From operations (derived)
+€1.8m
Net result for the year
+€2.1m
Receivables within one year
-€370,693
Deferred charges and accrued income
-€2,433
Trade debts
+€93,067
Tax, wage and social debts
-€17,629
Accrued charges and deferred income
+€24,536
Investment (derived)
-€390,000
Investment in fixed assets (net)
-€390,000
Financing
-€2.5m
Current portion of long-term debt
-€1.6m
Short-term financial debts
+€130,000
Contributions, distributions and other
-€1.0m
Cash 2025
€23,031
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,599,835 | €7,330,060 | -€269,774 | -3.5% |
| Fixed assets | 21/28 | €6,490,005 | €6,880,005 | +€390,000 | +6.0% |
| Financial fixed assets | 28 | €6,490,005 | €6,880,005 | +€390,000 | +6.0% |
| Affiliated companies | 280/1 | €6,490,005 | €6,880,005 | +€390,000 | +6.0% |
| Participating interests | 280 | €6,410,005 | €6,800,005 | +€390,000 | +6.1% |
| Amounts receivable | 281 | €80,000 | €80,000 | = | 0.0% |
| Current assets | 29/58 | €1,109,830 | €450,055 | -€659,774 | -59.4% |
| Amounts receivable within one year | 40/41 | €51,360 | €422,053 | +€370,693 | +722% |
| Trade receivables | 40 | €51,360 | €414,574 | +€363,214 | +707% |
| Other amounts receivable | 41 | - | €7,479 | +€7,479 | |
| Cash at bank and in hand | 54/58 | €1,055,932 | €23,031 | -€1.0m | -97.8% |
| Deferred charges and accrued income | 490/1 | €2,538 | €4,971 | +€2,433 | +95.9% |
| Total equity and liabilities | 10/49 | €7,599,835 | €7,330,060 | -€269,774 | -3.5% |
| Equity | 10/15 | €2,477,114 | €3,577,365 | +€1.1m | +44.4% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €30,000 | €30,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,147,114 | €3,247,365 | +€1.1m | +51.2% |
| Amounts payable | 17/49 | €5,122,721 | €3,752,695 | -€1.4m | -26.7% |
| Amounts payable after more than one year | 17 | €3,480,000 | €3,480,000 | = | 0.0% |
| Financial debts | 170/4 | €3,480,000 | €3,480,000 | = | 0.0% |
| Subordinated loans | 170 | €3,480,000 | €3,480,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,642,721 | €248,159 | -€1.4m | -84.9% |
| Current portion of amounts payable after more than one year | 42 | €1,600,000 | - | -€1.6m | |
| Financial debts | 43 | - | €130,000 | +€130,000 | |
| Credit institutions | 430/8 | - | €130,000 | +€130,000 | |
| Trade debts | 44 | €19,212 | €112,279 | +€93,067 | +484% |
| Suppliers | 440/4 | €19,212 | €112,279 | +€93,067 | +484% |
| Taxes, remuneration and social security | 45 | €23,504 | €5,875 | -€17,629 | -75.0% |
| Taxes | 450/3 | €23,504 | €5,875 | -€17,629 | -75.0% |
| Other amounts payable | 47/48 | €5 | €5 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €24,536 | +€24,536 | |
| Operating income | 70/76A | €233,217 | €409,300 | +€176,083 | +75.5% |
| Turnover | 70 | €233,217 | €409,300 | +€176,083 | +75.5% |
| Operating charges | 60/66A | €134,842 | €248,406 | +€113,564 | +84.2% |
| Services and other goods | 61 | €133,875 | €247,407 | +€113,533 | +84.8% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Operating profit (loss) | 9901 | €98,375 | €160,894 | +€62,520 | +63.6% |
| Financial income | 75/76B | €2,002,538 | €2,007,700 | +€5,163 | +0.3% |
| Recurring financial income | 75 | €2,002,538 | €2,007,700 | +€5,163 | +0.3% |
| Income from financial fixed assets | 750 | €2,002,538 | €2,002,433 | -€104 | 0.0% |
| Income from current assets | 751 | - | €5,267 | +€5,267 | |
| Financial charges | 65/66B | €19,467 | €34,243 | +€14,776 | +75.9% |
| Recurring financial charges | 65 | €19,467 | €34,243 | +€14,776 | +75.9% |
| Debt charges | 650 | €19,467 | €34,243 | +€14,776 | +75.9% |
| Profit (loss) for the period before taxes | 9903 | €2,081,445 | €2,134,352 | +€52,906 | +2.5% |
| Income taxes | 67/77 | €20,445 | €34,101 | +€13,656 | +66.8% |
| Taxes | 670/3 | €20,445 | €34,101 | +€13,656 | +66.8% |
| Profit (loss) for the period | 9904 | €2,061,000 | €2,100,251 | +€39,251 | +1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €2,061,000 | €2,100,251 | +€39,251 | +1.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.