HOLDING LAND: 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.
HOLDING LAND
Largest movements
- Current investments +€300,000
new in 2025: €300,000
- Cash -€181,843
down €181,843 (-44.1%), from €412,681 to €230,839
mainly Current investments (-€300,000) and Contributions, distributions and other (-€115,455)
- Other debts +€66,210
up €66,210 (+103%), from €64,545 to €130,755
- Reserves +€56,364
up €56,364 (+3.5%), from €1.6m to €1.6m
- Gross operating margin +€57,927
up €57,927 (+31.0%), from €186,843 to €244,770
- Financial charges +€30,351
up €30,351 (+36,132%), from €84 to €30,435
- Financial income +€28,651
up €28,651 (+206%), from €13,906 to €42,557
- Taxes +€8,811
up €8,811 (+14.0%), from €62,950 to €71,761
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.
Derived cash bridge
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 | €1,761,633 | €1,890,360 | +€128,727 | +7.3% |
| Fixed assets | 21/28 | €1,343,411 | €1,341,684 | -€1,726 | -0.1% |
| Tangible fixed assets | 22/27 | €9,345 | €7,619 | -€1,726 | -18.5% |
| Land and buildings | 22 | €1,000 | €1,000 | = | 0.0% |
| Furniture and vehicles | 24 | €8,345 | €4,589 | -€3,756 | -45.0% |
| Other tangible fixed assets | 26 | - | €2,030 | +€2,030 | |
| Financial fixed assets | 28 | €1,334,066 | €1,334,066 | = | 0.0% |
| Current assets | 29/58 | €418,222 | €548,676 | +€130,453 | +31.2% |
| Amounts receivable within one year | 40/41 | €5,541 | €17,837 | +€12,296 | +222% |
| Other amounts receivable | 41 | €5,541 | €17,837 | +€12,296 | +222% |
| Current investments | 50/53 | - | €300,000 | +€300,000 | |
| Cash at bank and in hand | 54/58 | €412,681 | €230,839 | -€181,843 | -44.1% |
| Total equity and liabilities | 10/49 | €1,761,633 | €1,890,360 | +€128,727 | +7.3% |
| Equity | 10/15 | €1,675,504 | €1,741,283 | +€65,779 | +3.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,591,414 | €1,647,777 | +€56,364 | +3.5% |
| Distributable reserves | 133 | €1,591,414 | €1,647,777 | +€56,364 | +3.5% |
| Profit (loss) carried forward | 14 | €65,491 | €74,906 | +€9,415 | +14.4% |
| Amounts payable | 17/49 | €86,129 | €149,077 | +€62,948 | +73.1% |
| Amounts payable within one year | 42/48 | €86,129 | €149,077 | +€62,948 | +73.1% |
| Trade debts | 44 | €3,303 | €1,140 | -€2,163 | -65.5% |
| Suppliers | 440/4 | €3,303 | €1,140 | -€2,163 | -65.5% |
| Taxes, remuneration and social security | 45 | €18,280 | €17,182 | -€1,098 | -6.0% |
| Taxes | 450/3 | €18,280 | €17,182 | -€1,098 | -6.0% |
| Other amounts payable | 47/48 | €64,545 | €130,755 | +€66,210 | +103% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,548 | €3,826 | -€722 | -15.9% |
| Other operating charges | 640/8 | €69 | €72 | +€2 | +3.2% |
| Gross operating margin | 9900 | €186,843 | €244,770 | +€57,927 | +31.0% |
| Operating profit (loss) | 9901 | €182,225 | €240,872 | +€58,647 | +32.2% |
| Financial income | 75/76B | €13,906 | €42,557 | +€28,651 | +206% |
| Recurring financial income | 75 | €13,906 | €42,557 | +€28,651 | +206% |
| Financial charges | 65/66B | €84 | €30,435 | +€30,351 | +36,132% |
| Recurring financial charges | 65 | €84 | €30,435 | +€30,351 | +36,132% |
| Profit (loss) for the period before taxes | 9903 | €196,047 | €252,994 | +€56,947 | +29.0% |
| Income taxes | 67/77 | €62,950 | €71,761 | +€8,811 | +14.0% |
| Profit (loss) for the period | 9904 | €133,097 | €181,233 | +€48,136 | +36.2% |
| Profit (loss) for the period to be appropriated | 9905 | €133,097 | €181,233 | +€48,136 | +36.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.