HOLDSENEF: 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.
HOLDSENEF
Largest movements
- Financial fixed assets -€2.8m
down €2.8m (-99.4%), from €2.9m to €18,500
- Cash +€634,833
up €634,833 (+12,834%), from €4,947 to €639,779
mainly Investment in fixed assets (net) (+€2.8m) and Net result for the year (+€115,664)
- Other debts -€2.1m
no longer reported in 2025 (was €2.1m)
- Debts after one year -€248,503
no longer reported in 2025 (was €248,503)
- Profit (loss) carried forward +€115,664
up €115,664 (+23.8%), from €486,986 to €602,650
- Financial income -€93,359
down €93,359 (-45.4%), from €205,640 to €112,282
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 | €2,868,495 | €658,279 | -€2.2m | -77.1% |
| Fixed assets | 21/28 | €2,863,548 | €18,500 | -€2.8m | -99.4% |
| Financial fixed assets | 28 | €2,863,548 | €18,500 | -€2.8m | -99.4% |
| Affiliated companies | 280/1 | €2,863,548 | €18,500 | -€2.8m | -99.4% |
| Participating interests | 280 | €18,500 | €18,500 | = | 0.0% |
| Amounts receivable | 281 | €2,845,048 | - | -€2.8m | |
| Current assets | 29/58 | €4,947 | €639,779 | +€634,833 | +12,834% |
| Cash at bank and in hand | 54/58 | €4,947 | €639,779 | +€634,833 | +12,834% |
| Total equity and liabilities | 10/49 | €2,868,495 | €658,279 | -€2.2m | -77.1% |
| Equity | 10/15 | €493,286 | €608,950 | +€115,664 | +23.4% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | €486,986 | €602,650 | +€115,664 | +23.8% |
| Amounts payable | 17/49 | €2,375,208 | €49,329 | -€2.3m | -97.9% |
| Amounts payable after more than one year | 17 | €248,503 | - | -€248,503 | |
| Other amounts payable | 178/9 | €248,503 | - | -€248,503 | |
| Amounts payable within one year | 42/48 | €2,126,706 | €49,329 | -€2.1m | -97.7% |
| Trade debts | 44 | €1,643 | €1,650 | +€7 | +0.5% |
| Suppliers | 440/4 | €1,643 | €1,650 | +€7 | +0.5% |
| Taxes, remuneration and social security | 45 | €36,353 | €47,679 | +€11,326 | +31.2% |
| Taxes | 450/3 | €36,353 | €47,679 | +€11,326 | +31.2% |
| Other amounts payable | 47/48 | €2,088,710 | - | -€2.1m | |
| Operating income | 70/76A | €8,821 | €56,184 | +€47,363 | +537% |
| Non-recurring operating income | 76A | €8,821 | €56,184 | +€47,363 | +537% |
| Operating charges | 60/66A | €66,627 | €31,099 | -€35,528 | -53.3% |
| Services and other goods | 61 | €10,626 | €11,102 | +€476 | +4.5% |
| Non-recurring operating charges | 66A | €56,000 | €19,997 | -€36,004 | -64.3% |
| Operating profit (loss) | 9901 | -€57,806 | €25,085 | +€82,891 | |
| Financial income | 75/76B | €205,640 | €112,282 | -€93,359 | -45.4% |
| Recurring financial income | 75 | €205,640 | €112,282 | -€93,359 | -45.4% |
| Income from financial fixed assets | 750 | €205,640 | €112,282 | -€93,359 | -45.4% |
| Financial charges | 65/66B | €14,427 | €10,377 | -€4,050 | -28.1% |
| Recurring financial charges | 65 | €14,427 | €10,377 | -€4,050 | -28.1% |
| Debt charges | 650 | €13,881 | €9,900 | -€3,981 | -28.7% |
| Other financial charges | 652/9 | €546 | €476 | -€69 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | €133,407 | €126,990 | -€6,418 | -4.8% |
| Income taxes | 67/77 | €36,353 | €11,326 | -€25,028 | -68.8% |
| Taxes | 670/3 | €36,353 | €18,920 | -€17,433 | -48.0% |
| Tax adjustments and reversals of tax provisions | 77 | - | €7,594 | +€7,594 | |
| Profit (loss) for the period | 9904 | €97,054 | €115,664 | +€18,610 | +19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €97,054 | €115,664 | +€18,610 | +19.2% |
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 17 October 2026 via checked.be.