HOLDIT: 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.
What changed
HOLDIT
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€3.9m
2024 · €5.3m-€1.4m
Equity
€44.2m
2024 · €40.9m+€3.3m
Cash
€51,686
2024 · €80,126-€28,440
Balance sheet total
€66.3m
2024 · €62.8m+€3.5m
Largest movements
Assets
- Receivables within one year +€3.7m
up €3.7m (+21.5%), from €17.3m to €21.0m
of which Other amounts receivable: +€4.7m
Equity and liabilities
- Reserves +€3.3m
up €3.3m (+8.0%), from €40.9m to €44.1m
of which Distributable reserves: +€3.3m
Income statement
- Gross operating margin -€1.2m
down €1.2m (-49.3%), from €2.4m to €1.2m
- Financial income -€284,736
down €284,736 (-6.8%), from €4.2m to €3.9m
of which Financial income: -€284,736
- Taxes -€113,077
down €113,077 (-99.4%), from €113,717 to €639
- Financial charges +€35,631
up €35,631 (+3.1%), from €1.1m to €1.2m
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.
Result 2024
€5.3m
Gross operating margin
-€1.2m
Staff costs
-€2,854
Depreciation
-€2,546
Other operating charges
-€536
Financial income
-€284,736
Financial charges
-€35,631
Taxes
+€113,077
Result 2025
€3.9m
raises the resultlowers the result
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.
From operations
+€545,032
Investment
€0
Financing
-€573,472
Cash 2024
€80,126
From operations (derived)
+€545,032
Net result for the year
+€3.9m
Depreciation
+€7,017
Receivables within one year
-€3.7m
Deferred charges and accrued income
+€133,090
Trade debts
+€3,523
Tax, wage and social debts
-€27,579
Other debts
+€282,506
Financing
-€573,472
Short-term financial debts
+€26,528
Contributions, distributions and other
-€600,000
Cash 2025
€51,686
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €62,799,792 | €66,345,702 | +€3.5m | +5.6% |
| Fixed assets | 21/28 | €45,307,786 | €45,300,769 | -€7,017 | 0.0% |
| Tangible fixed assets | 22/27 | €14,293 | €7,275 | -€7,017 | -49.1% |
| Furniture and vehicles | 24 | €14,293 | €7,275 | -€7,017 | -49.1% |
| Financial fixed assets | 28 | €45,293,493 | €45,293,493 | = | 0.0% |
| Current assets | 29/58 | €17,492,006 | €21,044,933 | +€3.6m | +20.3% |
| Amounts receivable within one year | 40/41 | €17,273,478 | €20,987,935 | +€3.7m | +21.5% |
| Trade receivables | 40 | €1,004,127 | €0 | -€1.0m | -100% |
| Other amounts receivable | 41 | €16,269,351 | €20,987,935 | +€4.7m | +29.0% |
| Cash at bank and in hand | 54/58 | €80,126 | €51,686 | -€28,440 | -35.5% |
| Deferred charges and accrued income | 490/1 | €138,402 | €5,312 | -€133,090 | -96.2% |
| Total equity and liabilities | 10/49 | €62,799,792 | €66,345,702 | +€3.5m | +5.6% |
| Equity | 10/15 | €40,939,751 | €44,200,682 | +€3.3m | +8.0% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €40,874,751 | €44,135,682 | +€3.3m | +8.0% |
| Non-distributable reserves | 130/1 | €533,554 | €533,554 | = | 0.0% |
| Legal reserve | 130 | €533,554 | €533,554 | = | 0.0% |
| Distributable reserves | 133 | €40,341,197 | €43,602,128 | +€3.3m | +8.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €21,860,041 | €22,145,019 | +€284,978 | +1.3% |
| Amounts payable after more than one year | 17 | €12,591,667 | €12,591,667 | = | 0.0% |
| Financial debts | 170/4 | €12,591,667 | €12,591,667 | = | 0.0% |
| Amounts payable within one year | 42/48 | €9,268,374 | €9,553,352 | +€284,978 | +3.1% |
| Financial debts | 43 | €783,804 | €810,333 | +€26,528 | +3.4% |
| Credit institutions | 430/8 | €783,804 | €810,333 | +€26,528 | +3.4% |
| Trade debts | 44 | €12,501 | €16,024 | +€3,523 | +28.2% |
| Suppliers | 440/4 | €12,501 | €16,024 | +€3,523 | +28.2% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €348,666 | €321,087 | -€27,579 | -7.9% |
| Taxes | 450/3 | €336,357 | €308,408 | -€27,949 | -8.3% |
| Remuneration and social security | 454/9 | €12,309 | €12,680 | +€370 | +3.0% |
| Other amounts payable | 47/48 | €8,123,402 | €8,405,908 | +€282,506 | +3.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €101,351 | €104,205 | +€2,854 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,472 | €7,017 | +€2,546 | +56.9% |
| Other operating charges | 640/8 | €2,220 | €2,756 | +€536 | +24.1% |
| Gross operating margin | 9900 | €2,449,017 | €1,242,338 | -€1.2m | -49.3% |
| Operating profit (loss) | 9901 | €2,340,975 | €1,128,361 | -€1.2m | -51.8% |
| Financial income | 75/76B | €4,201,678 | €3,916,942 | -€284,736 | -6.8% |
| Recurring financial income | 75 | €4,201,678 | €3,916,942 | -€284,736 | -6.8% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €1,148,101 | €1,183,732 | +€35,631 | +3.1% |
| Recurring financial charges | 65 | €1,148,101 | €1,183,732 | +€35,631 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €5,394,552 | €3,861,571 | -€1.5m | -28.4% |
| Income taxes | 67/77 | €113,717 | €639 | -€113,077 | -99.4% |
| Profit (loss) for the period | 9904 | €5,280,835 | €3,860,932 | -€1.4m | -26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €5,280,835 | €3,860,932 | -€1.4m | -26.9% |
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.