HOLDIRIUS: 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.
HOLDIRIUS
Largest movements
- Cash -€539,107
down €539,107 (-75.1%), from €717,582 to €178,475
mainly Contributions, distributions and other (-€2.0m) and Debts after one year (-€1.5m)
- Financial fixed assets -€300,000
down €300,000 (-4.0%), from €7.5m to €7.2m
- Receivables within one year +€163,996
up €163,996 (+12.2%), from €1.3m to €1.5m
of which Other amounts receivable: +€920,183
- Debts after one year -€1.5m
down €1.5m (-48.2%), from €3.1m to €1.6m
of which Other amounts payable: -€767,470
- Profit (loss) carried forward +€427,580
up €427,580 (+19.0%), from €2.3m to €2.7m
- Other debts +€402,555
up €402,555 (+21.2%), from €1.9m to €2.3m
- Gross operating margin -€1.3m
down €1.3m (-78.1%), from €1.7m to €362,709
- Financial income +€1.2m
up €1.2m (+118%), from €1.0m to €2.2m
of which Financial income: +€1.2m
- Depreciation -€159,398
down €159,398 (-87.1%), from €183,071 to €23,673
- Taxes -€147,227
down €147,227 (-61.6%), from €238,828 to €91,601
- Financial charges -€82,743
down €82,743 (-57.1%), from €145,029 to €62,286
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 | €9,611,402 | €8,910,865 | -€700,537 | -7.3% |
| Fixed assets | 21/28 | €7,551,273 | €7,227,600 | -€323,673 | -4.3% |
| Intangible fixed assets | 21 | €23,673 | €0 | -€23,673 | -100% |
| Financial fixed assets | 28 | €7,527,600 | €7,227,600 | -€300,000 | -4.0% |
| Current assets | 29/58 | €2,060,129 | €1,683,265 | -€376,864 | -18.3% |
| Amounts receivable within one year | 40/41 | €1,340,793 | €1,504,789 | +€163,996 | +12.2% |
| Trade receivables | 40 | €1,030,540 | €274,352 | -€756,188 | -73.4% |
| Other amounts receivable | 41 | €310,254 | €1,230,437 | +€920,183 | +297% |
| Cash at bank and in hand | 54/58 | €717,582 | €178,475 | -€539,107 | -75.1% |
| Deferred charges and accrued income | 490/1 | €1,754 | €0 | -€1,754 | -100% |
| Total equity and liabilities | 10/49 | €9,611,402 | €8,910,865 | -€700,537 | -7.3% |
| Equity | 10/15 | €3,754,975 | €4,182,555 | +€427,580 | +11.4% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,254,975 | €2,682,555 | +€427,580 | +19.0% |
| Amounts payable | 17/49 | €5,856,428 | €4,728,311 | -€1.1m | -19.3% |
| Amounts payable after more than one year | 17 | €3,141,187 | €1,625,786 | -€1.5m | -48.2% |
| Financial debts | 170/4 | €747,931 | €0 | -€747,931 | -100% |
| Other amounts payable | 178/9 | €2,393,256 | €1,625,786 | -€767,470 | -32.1% |
| Amounts payable within one year | 42/48 | €2,715,240 | €3,099,784 | +€384,544 | +14.2% |
| Current portion of amounts payable after more than one year | 42 | €731,626 | €747,931 | +€16,305 | +2.2% |
| Taxes, remuneration and social security | 45 | €83,615 | €49,298 | -€34,317 | -41.0% |
| Taxes | 450/3 | €83,615 | €49,298 | -€34,317 | -41.0% |
| Other amounts payable | 47/48 | €1,900,000 | €2,302,555 | +€402,555 | +21.2% |
| Accrued charges and deferred income | 492/3 | €0 | €2,740 | +€2,740 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €183,071 | €23,673 | -€159,398 | -87.1% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Non-recurring operating charges | 66A | €100,000 | - | -€100,000 | |
| Gross operating margin | 9900 | €1,653,492 | €362,709 | -€1.3m | -78.1% |
| Operating profit (loss) | 9901 | €1,369,453 | €338,037 | -€1.0m | -75.3% |
| Financial income | 75/76B | €1,030,848 | €2,243,429 | +€1.2m | +118% |
| Recurring financial income | 75 | €1,030,848 | €2,243,429 | +€1.2m | +118% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €145,029 | €62,286 | -€82,743 | -57.1% |
| Recurring financial charges | 65 | €145,029 | €62,286 | -€82,743 | -57.1% |
| Profit (loss) for the period before taxes | 9903 | €2,255,273 | €2,519,180 | +€263,908 | +11.7% |
| Income taxes | 67/77 | €238,828 | €91,601 | -€147,227 | -61.6% |
| Profit (loss) for the period | 9904 | €2,016,445 | €2,427,580 | +€411,135 | +20.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,016,445 | €2,427,580 | +€411,135 | +20.4% |
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 13 October 2026 via checked.be.