HOLEBO: 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
HOLEBO
NACE 47.110, Non-specialised retail sale with food, beverages or tobacco predominating
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€15,247
2024 · €151,077-€166,324
Equity
€579,707
2024 · €694,988-€115,281
Cash
€188,128
2024 · €439,512-€251,384
Balance sheet total
€2.3m
2024 · €2.4m-€110,590
Largest movements
Assets
- Cash -€251,384
down €251,384 (-57.2%), from €439,512 to €188,128
mainly Investment in fixed assets (net) (-€169,052) and Contributions, distributions and other (-€100,033)
- Stocks and contracts +€72,542
up €72,542 (+15.3%), from €473,928 to €546,470
- Receivables within one year +€69,158
up €69,158 (+19.5%), from €353,860 to €423,018
of which Other amounts receivable: +€67,884
- Current investments +€43,325
up €43,325 (+23.8%), from €182,115 to €225,439
- Deferred charges and accrued income -€36,780
down €36,780 (-72.0%), from €51,085 to €14,305
Equity and liabilities
- Profit (loss) carried forward -€115,281
down €115,281 (-25.5%), from €452,109 to €336,828
- Current portion of long-term debt +€68,398
up €68,398 (+55.4%), from €123,453 to €191,850
- Trade debts -€68,265
down €68,265 (-13.7%), from €497,852 to €429,587
- Other debts +€50,138
up €50,138 (+100%), from €50,000 to €100,138
- Tax, wage and social debts -€36,159
down €36,159 (-17.6%), from €205,508 to €169,349
of which Taxes: -€29,960
Income statement
- Gross operating margin -€189,736
down €189,736 (-11.7%), from €1.6m to €1.4m
- Taxes -€25,006
down €25,006 (-82.3%), from €30,394 to €5,387
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
€151,077
Gross operating margin
-€189,736
Staff costs
-€5,628
Depreciation
+€8,562
Other operating charges
+€7,166
Financial income
+€2,543
Financial charges
-€14,238
Taxes
+€25,006
Result 2025
-€15,247
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
-€716
Investment
-€212,376
Financing
-€38,292
Cash 2024
€439,512
From operations (derived)
-€716
Net result for the year
-€15,247
Depreciation
+€176,501
Stocks and contracts
-€72,542
Receivables within one year
-€69,158
Deferred charges and accrued income
+€36,780
Trade debts
-€68,265
Tax, wage and social debts
-€36,159
Other debts
+€50,138
Accrued charges and deferred income
-€2,765
Investment (derived)
-€212,376
Investment in fixed assets (net)
-€169,052
Current investments
-€43,325
Financing
-€38,292
Debts after one year
-€18,550
Current portion of long-term debt
+€68,398
Short-term financial debts
+€11,894
Contributions, distributions and other
-€100,033
Cash 2025
€188,128
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,417,698 | €2,307,109 | -€110,590 | -4.6% |
| Formation expenses | 20 | €1,600 | - | -€1,600 | |
| Fixed assets | 21/28 | €915,598 | €909,749 | -€5,849 | -0.6% |
| Intangible fixed assets | 21 | €157,087 | €135,645 | -€21,442 | -13.6% |
| Tangible fixed assets | 22/27 | €726,276 | €750,053 | +€23,777 | +3.3% |
| Land and buildings | 22 | €411,812 | €345,861 | -€65,950 | -16.0% |
| Plant, machinery and equipment | 23 | €228,502 | €204,062 | -€24,440 | -10.7% |
| Furniture and vehicles | 24 | €85,962 | €98,612 | +€12,650 | +14.7% |
| Leasing and similar rights | 25 | - | €101,517 | +€101,517 | |
| Financial fixed assets | 28 | €32,235 | €24,051 | -€8,183 | -25.4% |
| Current assets | 29/58 | €1,500,500 | €1,397,360 | -€103,140 | -6.9% |
| Stocks and contracts in progress | 3 | €473,928 | €546,470 | +€72,542 | +15.3% |
| Stocks | 30/36 | €473,928 | €546,470 | +€72,542 | +15.3% |
| Amounts receivable within one year | 40/41 | €353,860 | €423,018 | +€69,158 | +19.5% |
| Trade receivables | 40 | €126,999 | €128,272 | +€1,274 | +1.0% |
| Other amounts receivable | 41 | €226,862 | €294,746 | +€67,884 | +29.9% |
| Current investments | 50/53 | €182,115 | €225,439 | +€43,325 | +23.8% |
| Cash at bank and in hand | 54/58 | €439,512 | €188,128 | -€251,384 | -57.2% |
| Deferred charges and accrued income | 490/1 | €51,085 | €14,305 | -€36,780 | -72.0% |
| Total equity and liabilities | 10/49 | €2,417,698 | €2,307,109 | -€110,590 | -4.6% |
| Equity | 10/15 | €694,988 | €579,707 | -€115,281 | -16.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €180,879 | €180,879 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €159,980 | €75,780 | -€84,200 | -52.6% |
| Distributable reserves | 133 | €14,699 | €98,899 | +€84,200 | +573% |
| Profit (loss) carried forward | 14 | €452,109 | €336,828 | -€115,281 | -25.5% |
| Amounts payable | 17/49 | €1,722,711 | €1,727,402 | +€4,691 | +0.3% |
| Amounts payable after more than one year | 17 | €788,122 | €769,572 | -€18,550 | -2.4% |
| Financial debts | 170/4 | €784,322 | €765,772 | -€18,550 | -2.4% |
| Other amounts payable | 178/9 | €3,800 | €3,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €931,813 | €957,818 | +€26,006 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €123,453 | €191,850 | +€68,398 | +55.4% |
| Financial debts | 43 | €55,000 | €66,894 | +€11,894 | +21.6% |
| Credit institutions | 430/8 | €55,000 | €66,894 | +€11,894 | +21.6% |
| Trade debts | 44 | €497,852 | €429,587 | -€68,265 | -13.7% |
| Suppliers | 440/4 | €497,852 | €429,587 | -€68,265 | -13.7% |
| Taxes, remuneration and social security | 45 | €205,508 | €169,349 | -€36,159 | -17.6% |
| Taxes | 450/3 | €35,357 | €5,397 | -€29,960 | -84.7% |
| Remuneration and social security | 454/9 | €170,151 | €163,951 | -€6,200 | -3.6% |
| Other amounts payable | 47/48 | €50,000 | €100,138 | +€50,138 | +100% |
| Accrued charges and deferred income | 492/3 | €2,776 | €11 | -€2,765 | -99.6% |
| Non-recurring operating income | 76A | €15,271 | €3,856 | -€11,415 | -74.8% |
| Remuneration, social security and pensions | 62 | €1,144,077 | €1,149,705 | +€5,628 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €185,063 | €176,501 | -€8,562 | -4.6% |
| Other operating charges | 640/8 | €78,936 | €71,770 | -€7,166 | -9.1% |
| Gross operating margin | 9900 | €1,623,031 | €1,433,295 | -€189,736 | -11.7% |
| Operating profit (loss) | 9901 | €214,955 | €35,319 | -€179,635 | -83.6% |
| Financial income | 75/76B | €38,353 | €40,896 | +€2,543 | +6.6% |
| Recurring financial income | 75 | €38,353 | €39,716 | +€1,363 | +3.6% |
| Non-recurring financial income | 76B | - | €1,180 | +€1,180 | |
| Financial charges | 65/66B | €71,837 | €86,075 | +€14,238 | +19.8% |
| Recurring financial charges | 65 | €57,256 | €63,008 | +€5,752 | +10.0% |
| Non-recurring financial charges | 66B | €14,581 | €23,067 | +€8,486 | +58.2% |
| Profit (loss) for the period before taxes | 9903 | €181,471 | -€9,860 | -€191,331 | |
| Income taxes | 67/77 | €30,394 | €5,387 | -€25,006 | -82.3% |
| Profit (loss) for the period | 9904 | €151,077 | -€15,247 | -€166,324 | |
| Transfer from tax-exempt reserves | 789 | - | €84,200 | +€84,200 | |
| Profit (loss) for the period to be appropriated | 9905 | €151,077 | €68,953 | -€82,124 | -54.4% |
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 21 October 2026 via checked.be.