HOLDING VAN ELST: 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 VAN ELST
Largest movements
- Receivables within one year -€32,878
down €32,878 (-74.2%), from €44,308 to €11,430
of which Other amounts receivable: -€40,678
- Tangible fixed assets -€8,491
down €8,491 (-68.0%), from €12,494 to €4,003
- Other debts -€143,296
down €143,296 (-92.4%), from €155,000 to €11,704
- Reserves +€137,280
up €137,280 (+615%), from €22,317 to €159,597
- Debts after one year -€25,888
down €25,888 (-7.6%), from €339,738 to €313,850
of which Trade debts: -€170,000
- Financial income +€125,000
new in 2025: €125,000
- Gross operating margin -€846
down €846 (-3.0%), from €28,644 to €27,798
- Financial charges -€387
down €387 (-11.8%), from €3,279 to €2,892
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 | €597,708 | €560,289 | -€37,420 | -6.3% |
| Fixed assets | 21/28 | €542,494 | €534,003 | -€8,491 | -1.6% |
| Tangible fixed assets | 22/27 | €12,494 | €4,003 | -€8,491 | -68.0% |
| Furniture and vehicles | 24 | €12,494 | €4,003 | -€8,491 | -68.0% |
| Financial fixed assets | 28 | €530,000 | €530,000 | = | 0.0% |
| Current assets | 29/58 | €55,214 | €26,285 | -€28,929 | -52.4% |
| Amounts receivable within one year | 40/41 | €44,308 | €11,430 | -€32,878 | -74.2% |
| Trade receivables | 40 | €3,630 | €11,430 | +€7,800 | +215% |
| Other amounts receivable | 41 | €40,678 | €0 | -€40,678 | -100% |
| Cash at bank and in hand | 54/58 | €8,958 | €14,294 | +€5,336 | +59.6% |
| Deferred charges and accrued income | 490/1 | €1,949 | €562 | -€1,387 | -71.2% |
| Total equity and liabilities | 10/49 | €597,708 | €560,289 | -€37,420 | -6.3% |
| Equity | 10/15 | €62,317 | €199,597 | +€137,280 | +220% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €22,317 | €159,597 | +€137,280 | +615% |
| Distributable reserves | 133 | €22,317 | €159,597 | +€137,280 | +615% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €535,391 | €360,691 | -€174,700 | -32.6% |
| Amounts payable after more than one year | 17 | €339,738 | €313,850 | -€25,888 | -7.6% |
| Financial debts | 170/4 | €169,738 | €313,850 | +€144,112 | +84.9% |
| Trade debts | 175 | €170,000 | - | -€170,000 | |
| Amounts payable within one year | 42/48 | €195,654 | €46,842 | -€148,812 | -76.1% |
| Current portion of amounts payable after more than one year | 42 | €29,463 | €25,888 | -€3,575 | -12.1% |
| Trade debts | 44 | €2,198 | €3,131 | +€932 | +42.4% |
| Suppliers | 440/4 | €2,198 | €3,131 | +€932 | +42.4% |
| Taxes, remuneration and social security | 45 | €8,992 | €6,119 | -€2,873 | -31.9% |
| Taxes | 450/3 | €8,992 | €6,119 | -€2,873 | -31.9% |
| Other amounts payable | 47/48 | €155,000 | €11,704 | -€143,296 | -92.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,491 | €8,491 | = | 0.0% |
| Other operating charges | 640/8 | €1,083 | €874 | -€209 | -19.3% |
| Gross operating margin | 9900 | €28,644 | €27,798 | -€846 | -3.0% |
| Operating profit (loss) | 9901 | €19,070 | €18,433 | -€637 | -3.3% |
| Financial income | 75/76B | - | €125,000 | +€125,000 | |
| Recurring financial income | 75 | - | €125,000 | +€125,000 | |
| Financial charges | 65/66B | €3,279 | €2,892 | -€387 | -11.8% |
| Recurring financial charges | 65 | €3,279 | €2,892 | -€387 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €15,791 | €140,541 | +€124,750 | +790% |
| Income taxes | 67/77 | €3,297 | €3,262 | -€35 | -1.1% |
| Profit (loss) for the period | 9904 | €12,494 | €137,280 | +€124,786 | +999% |
| Profit (loss) for the period to be appropriated | 9905 | €12,494 | €137,280 | +€124,786 | +999% |
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 31 October 2026 via checked.be.