HOLDING PLH: 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 PLH
Largest movements
- Cash -€508,093
down €508,093 (-23.8%), from €2.1m to €1.6m
mainly Debts after one year (-€2.3m) and Contributions, distributions and other (-€1.8m)
- Reserves +€3.2m
up €3.2m (+56.9%), from €5.6m to €8.9m
of which Distributable reserves: +€3.2m
- Debts after one year -€2.3m
down €2.3m (-66.7%), from €3.4m to €1.1m
- Other debts -€1.3m
down €1.3m (-34.4%), from €3.8m to €2.5m
- Financial charges -€305,567
down €305,567 (-70.4%), from €434,247 to €128,679
of which Non-recurring financial charges: -€201,625
- Financial income -€196,373
down €196,373 (-3.7%), from €5.3m to €5.1m
of which Financial income: -€108,923
- Gross operating margin +€6,116
up €6,116 (+15.4%), from €39,628 to €45,744
- Other operating charges +€963
up €963 (+13.9%), from €6,924 to €7,888
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 | €15,327,466 | €14,959,059 | -€368,407 | -2.4% |
| Fixed assets | 21/28 | €8,769,315 | €8,763,479 | -€5,836 | -0.1% |
| Tangible fixed assets | 22/27 | €11,136 | €5,304 | -€5,832 | -52.4% |
| Furniture and vehicles | 24 | €11,136 | €5,304 | -€5,832 | -52.4% |
| Financial fixed assets | 28 | €8,758,179 | €8,758,175 | -€4 | 0.0% |
| Current assets | 29/58 | €6,558,151 | €6,195,579 | -€362,571 | -5.5% |
| Amounts receivable after more than one year | 29 | €763,688 | €895,237 | +€131,548 | +17.2% |
| Other amounts receivable | 291 | €763,688 | €895,237 | +€131,548 | +17.2% |
| Amounts receivable within one year | 40/41 | €1,711,683 | €1,711,223 | -€461 | 0.0% |
| Trade receivables | 40 | €50,635 | €50,635 | = | 0.0% |
| Other amounts receivable | 41 | €1,661,049 | €1,660,588 | -€461 | 0.0% |
| Current investments | 50/53 | €1,927,145 | €1,934,151 | +€7,006 | +0.4% |
| Cash at bank and in hand | 54/58 | €2,136,964 | €1,628,871 | -€508,093 | -23.8% |
| Deferred charges and accrued income | 490/1 | €18,671 | €26,098 | +€7,428 | +39.8% |
| Total equity and liabilities | 10/49 | €15,327,466 | €14,959,059 | -€368,407 | -2.4% |
| Equity | 10/15 | €5,854,885 | €9,066,322 | +€3.2m | +54.9% |
| Contributions | 10/11 | €209,749 | €209,749 | = | 0.0% |
| Reserves | 13 | €5,645,136 | €8,856,573 | +€3.2m | +56.9% |
| Non-distributable reserves | 130/1 | €2,425 | €2,425 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,425 | €2,425 | = | 0.0% |
| Distributable reserves | 133 | €5,642,710 | €8,854,148 | +€3.2m | +56.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €9,472,581 | €5,892,737 | -€3.6m | -37.8% |
| Amounts payable after more than one year | 17 | €3,428,571 | €1,142,857 | -€2.3m | -66.7% |
| Financial debts | 170/4 | €3,428,571 | €1,142,857 | -€2.3m | -66.7% |
| Amounts payable within one year | 42/48 | €6,043,985 | €4,749,854 | -€1.3m | -21.4% |
| Current portion of amounts payable after more than one year | 42 | €2,285,714 | €2,285,714 | = | 0.0% |
| Trade debts | 44 | €1,606 | €861 | -€744 | -46.4% |
| Suppliers | 440/4 | €1,606 | €861 | -€744 | -46.4% |
| Taxes, remuneration and social security | 45 | €1,501 | €1,594 | +€93 | +6.2% |
| Taxes | 450/3 | €1,501 | €1,594 | +€93 | +6.2% |
| Other amounts payable | 47/48 | €3,755,164 | €2,461,684 | -€1.3m | -34.4% |
| Accrued charges and deferred income | 492/3 | €25 | €26 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,892 | €5,832 | -€60 | -1.0% |
| Other operating charges | 640/8 | €6,924 | €7,888 | +€963 | +13.9% |
| Gross operating margin | 9900 | €39,628 | €45,744 | +€6,116 | +15.4% |
| Operating profit (loss) | 9901 | €26,813 | €32,025 | +€5,212 | +19.4% |
| Financial income | 75/76B | €5,254,536 | €5,058,162 | -€196,373 | -3.7% |
| Recurring financial income | 75 | €5,167,086 | €5,058,162 | -€108,923 | -2.1% |
| Non-recurring financial income | 76B | €87,450 | €0 | -€87,450 | -100.0% |
| Financial charges | 65/66B | €434,247 | €128,679 | -€305,567 | -70.4% |
| Recurring financial charges | 65 | €232,622 | €128,679 | -€103,942 | -44.7% |
| Non-recurring financial charges | 66B | €201,625 | €0 | -€201,625 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €4,847,101 | €4,961,508 | +€114,406 | +2.4% |
| Income taxes | 67/77 | €223 | €70 | -€153 | -68.5% |
| Profit (loss) for the period | 9904 | €4,846,879 | €4,961,438 | +€114,559 | +2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,846,879 | €4,961,438 | +€114,559 | +2.4% |
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 10 October 2026 via checked.be.