HOLDING TIAN: 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 TIAN
Largest movements
- Receivables within one year +€396,693
up €396,693 (+22.8%), from €1.7m to €2.1m
of which Other amounts receivable: +€509,508
- Current investments +€387,809
up €387,809 (+2.4%), from €16.2m to €16.6m
- Other debts +€1.0m
up €1.0m (+5,899,705%), from €17 to €1.0m
- Profit (loss) carried forward -€336,413
down €336,413 (-1.7%), from €19.3m to €18.9m
- Reserves +€273,650
up €273,650 (+16.8%), from €1.6m to €1.9m
of which Tax-exempt reserves: +€273,650
- Financial charges -€393,345
down €393,345 (-74.4%), from €528,665 to €135,320
of which Financial charges: -€209,984
- Financial income -€272,541
down €272,541 (-18.3%), from €1.5m to €1.2m
- Gross operating margin -€199,336
down €199,336 (-42.9%), from €464,625 to €265,289
- Staff costs -€53,221
down €53,221 (-12.9%), from €413,649 to €360,429
- Other operating charges +€16,638
up €16,638 (+180%), from €9,249 to €25,887
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 | €25,212,569 | €26,129,392 | +€916,823 | +3.6% |
| Fixed assets | 21/28 | €6,199,280 | €6,153,470 | -€45,809 | -0.7% |
| Tangible fixed assets | 22/27 | €156,631 | €133,078 | -€23,554 | -15.0% |
| Plant, machinery and equipment | 23 | €156,631 | €133,078 | -€23,554 | -15.0% |
| Financial fixed assets | 28 | €6,042,649 | €6,020,393 | -€22,256 | -0.4% |
| Current assets | 29/58 | €19,013,289 | €19,975,922 | +€962,633 | +5.1% |
| Amounts receivable within one year | 40/41 | €1,742,548 | €2,139,241 | +€396,693 | +22.8% |
| Trade receivables | 40 | €244,590 | €131,775 | -€112,815 | -46.1% |
| Other amounts receivable | 41 | €1,497,958 | €2,007,466 | +€509,508 | +34.0% |
| Current investments | 50/53 | €16,194,210 | €16,582,019 | +€387,809 | +2.4% |
| Cash at bank and in hand | 54/58 | €1,046,531 | €1,159,303 | +€112,772 | +10.8% |
| Deferred charges and accrued income | 490/1 | €30,000 | €95,359 | +€65,359 | +218% |
| Total equity and liabilities | 10/49 | €25,212,569 | €26,129,392 | +€916,823 | +3.6% |
| Equity | 10/15 | €25,037,929 | €24,975,165 | -€62,763 | -0.3% |
| Contributions | 10/11 | €4,152,000 | €4,152,000 | = | 0.0% |
| Capital | 10 | €4,152,000 | €4,152,000 | = | 0.0% |
| Issued capital | 100 | €4,152,000 | €4,152,000 | = | 0.0% |
| Reserves | 13 | €1,624,039 | €1,897,689 | +€273,650 | +16.8% |
| Non-distributable reserves | 130/1 | €415,200 | €415,200 | = | 0.0% |
| Legal reserve | 130 | €415,200 | €415,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €126,300 | €399,950 | +€273,650 | +217% |
| Distributable reserves | 133 | €1,082,539 | €1,082,539 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,261,890 | €18,925,477 | -€336,413 | -1.7% |
| Amounts payable | 17/49 | €174,640 | €1,154,227 | +€979,587 | +561% |
| Amounts payable after more than one year | 17 | €35,165 | - | -€35,165 | |
| Financial debts | 170/4 | €35,165 | - | -€35,165 | |
| Amounts payable within one year | 42/48 | €139,475 | €1,154,227 | +€1.0m | +728% |
| Current portion of amounts payable after more than one year | 42 | €41,261 | €38,376 | -€2,885 | -7.0% |
| Trade debts | 44 | €49,600 | €76,124 | +€26,524 | +53.5% |
| Suppliers | 440/4 | €49,600 | €76,124 | +€26,524 | +53.5% |
| Taxes, remuneration and social security | 45 | €48,596 | €39,710 | -€8,886 | -18.3% |
| Taxes | 450/3 | €4,595 | €2,151 | -€2,443 | -53.2% |
| Remuneration and social security | 454/9 | €44,002 | €37,558 | -€6,443 | -14.6% |
| Other amounts payable | 47/48 | €17 | €1,000,017 | +€1.0m | +5,899,705% |
| Remuneration, social security and pensions | 62 | €413,649 | €360,429 | -€53,221 | -12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,554 | €23,554 | = | 0.0% |
| Other operating charges | 640/8 | €9,249 | €25,887 | +€16,638 | +180% |
| Gross operating margin | 9900 | €464,625 | €265,289 | -€199,336 | -42.9% |
| Operating profit (loss) | 9901 | €18,173 | -€144,580 | -€162,753 | |
| Financial income | 75/76B | €1,490,999 | €1,218,458 | -€272,541 | -18.3% |
| Recurring financial income | 75 | €1,490,999 | €1,218,458 | -€272,541 | -18.3% |
| Financial charges | 65/66B | €528,665 | €135,320 | -€393,345 | -74.4% |
| Recurring financial charges | 65 | €289,578 | €79,594 | -€209,984 | -72.5% |
| Non-recurring financial charges | 66B | €239,088 | €55,727 | -€183,361 | -76.7% |
| Profit (loss) for the period before taxes | 9903 | €980,507 | €938,558 | -€41,949 | -4.3% |
| Income taxes | 67/77 | - | €1,321 | +€1,321 | |
| Profit (loss) for the period | 9904 | €980,507 | €937,237 | -€43,270 | -4.4% |
| Transfer to tax-exempt reserves | 689 | €126,300 | €273,650 | +€147,350 | +117% |
| Profit (loss) for the period to be appropriated | 9905 | €854,207 | €663,587 | -€190,620 | -22.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.