HOLE SHOT: 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.
HOLE SHOT
Largest movements
- Stocks and contracts -€44,160
down €44,160 (-6.1%), from €720,939 to €676,779
- Receivables within one year -€10,060
down €10,060 (-99.3%), from €10,128 to €69
- Profit (loss) carried forward -€38,487
down €38,487 (-27.1%), from -€142,092 to -€180,579
- Trade debts -€33,776
down €33,776 (-33.6%), from €100,577 to €66,801
- Other debts +€19,917
up €19,917 (+9.2%), from €216,434 to €236,352
- Gross operating margin -€41,519
down €41,519 (-72.9%), from €56,928 to €15,409
- Depreciation -€5,194
down €5,194 (-36.6%), from €14,188 to €8,994
- Other operating charges -€3,789
down €3,789 (-72.4%), from €5,232 to €1,443
- Financial charges -€2,112
down €2,112 (-10.3%), from €20,517 to €18,405
- Staff costs +€1,777
up €1,777 (+7.7%), from €22,961 to €24,738
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 | €756,967 | €701,025 | -€55,942 | -7.4% |
| Fixed assets | 21/28 | €15,985 | €10,485 | -€5,500 | -34.4% |
| Intangible fixed assets | 21 | €2,562 | €1,147 | -€1,415 | -55.2% |
| Tangible fixed assets | 22/27 | €13,211 | €9,127 | -€4,085 | -30.9% |
| Plant, machinery and equipment | 23 | €7,951 | €5,968 | -€1,983 | -24.9% |
| Furniture and vehicles | 24 | €5,260 | €3,159 | -€2,102 | -40.0% |
| Financial fixed assets | 28 | €212 | €212 | = | 0.0% |
| Current assets | 29/58 | €740,982 | €690,540 | -€50,442 | -6.8% |
| Stocks and contracts in progress | 3 | €720,939 | €676,779 | -€44,160 | -6.1% |
| Stocks | 30/36 | €720,939 | €676,779 | -€44,160 | -6.1% |
| Amounts receivable within one year | 40/41 | €10,128 | €69 | -€10,060 | -99.3% |
| Trade receivables | 40 | €10,128 | €69 | -€10,060 | -99.3% |
| Cash at bank and in hand | 54/58 | €8,951 | €12,879 | +€3,928 | +43.9% |
| Deferred charges and accrued income | 490/1 | €963 | €813 | -€150 | -15.6% |
| Total equity and liabilities | 10/49 | €756,967 | €701,025 | -€55,942 | -7.4% |
| Equity | 10/15 | -€89,592 | -€128,079 | -€38,487 | -43.0% |
| Contributions | 10/11 | €52,500 | €52,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€142,092 | -€180,579 | -€38,487 | -27.1% |
| Amounts payable | 17/49 | €846,559 | €829,103 | -€17,455 | -2.1% |
| Amounts payable after more than one year | 17 | €260,000 | €260,000 | = | 0.0% |
| Financial debts | 170/4 | €260,000 | €260,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €586,559 | €569,103 | -€17,455 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | €4,411 | €0 | -€4,411 | -100% |
| Financial debts | 43 | €246,212 | €245,414 | -€798 | -0.3% |
| Credit institutions | 430/8 | €246,212 | €245,414 | -€798 | -0.3% |
| Trade debts | 44 | €100,577 | €66,801 | -€33,776 | -33.6% |
| Suppliers | 440/4 | €100,577 | €66,801 | -€33,776 | -33.6% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €18,925 | €20,537 | +€1,612 | +8.5% |
| Taxes | 450/3 | €14,075 | €14,187 | +€111 | +0.8% |
| Remuneration and social security | 454/9 | €4,849 | €6,350 | +€1,501 | +30.9% |
| Other amounts payable | 47/48 | €216,434 | €236,352 | +€19,917 | +9.2% |
| Remuneration, social security and pensions | 62 | €22,961 | €24,738 | +€1,777 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,188 | €8,994 | -€5,194 | -36.6% |
| Other operating charges | 640/8 | €5,232 | €1,443 | -€3,789 | -72.4% |
| Gross operating margin | 9900 | €56,928 | €15,409 | -€41,519 | -72.9% |
| Operating profit (loss) | 9901 | €14,547 | -€19,766 | -€34,313 | |
| Financial income | 75/76B | €16 | €7 | -€9 | -54.7% |
| Recurring financial income | 75 | €16 | €7 | -€9 | -54.7% |
| Financial charges | 65/66B | €20,517 | €18,405 | -€2,112 | -10.3% |
| Recurring financial charges | 65 | €20,517 | €18,405 | -€2,112 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | -€5,954 | -€38,164 | -€32,210 | -541% |
| Income taxes | 67/77 | €583 | €323 | -€260 | -44.6% |
| Profit (loss) for the period | 9904 | -€6,537 | -€38,487 | -€31,950 | -489% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,537 | -€38,487 | -€31,950 | -489% |
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 16 October 2026 via checked.be.