HOLFIM: 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.
HOLFIM
Largest movements
- Current investments -€400,066
no longer reported in 2024 (was €400,066)
- Cash +€386,648
up €386,648 (+1572.5%), from €24,588 to €411,236
mainly Current investments (+€400,066) and Net result for the year (+€34,865)
- Receivables within one year +€11,153
up €11,153 (+6.6%), from €169,233 to €180,385
of which Trade receivables: +€12,699
- Tangible fixed assets -€7,294
down €7,294 (-5.6%), from €129,964 to €122,670
of which Land and buildings: -€7,911
- Other debts -€41,406
down €41,406 (-36.5%), from €113,358 to €71,951
- Reserves +€34,865
up €34,865 (+562.3%), from €6,200 to €41,065
of which Distributable reserves: +€34,865
- Tax, wage and social debts +€9,001
up €9,001 (+76.8%), from €11,715 to €20,716
- Trade debts -€8,575
down €8,575 (-5.6%), from €153,761 to €145,186
- Financial income +€17,958
up €17,958 (+760.1%), from €2,362 to €20,320
- Taxes +€6,013
up €6,013 (+43.8%), from €13,721 to €19,734
- Gross operating margin -€4,660
down €4,660 (-8.5%), from €54,631 to €49,971
- Other operating charges +€1,829
up €1,829 (+1206.6%), from €152 to €1,981
- Financial charges +€946
up €946 (+20.8%), from €4,547 to €5,493
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €723,850 | €714,291 | -€9,559 | -1.3% |
| Fixed assets | 21/28 | €129,964 | €122,670 | -€7,294 | -5.6% |
| Tangible fixed assets | 22/27 | €129,964 | €122,670 | -€7,294 | -5.6% |
| Land and buildings | 22 | €129,964 | €122,053 | -€7,911 | -6.1% |
| Furniture and vehicles | 24 | - | €617 | +€617 | |
| Current assets | 29/58 | €593,886 | €591,622 | -€2,265 | -0.4% |
| Amounts receivable within one year | 40/41 | €169,233 | €180,385 | +€11,153 | +6.6% |
| Trade receivables | 40 | €165,149 | €177,848 | +€12,699 | +7.7% |
| Other amounts receivable | 41 | €4,084 | €2,538 | -€1,546 | -37.9% |
| Current investments | 50/53 | €400,066 | - | -€400,066 | |
| Cash at bank and in hand | 54/58 | €24,588 | €411,236 | +€386,648 | +1572.5% |
| Total equity and liabilities | 10/49 | €723,850 | €714,291 | -€9,559 | -1.3% |
| Equity | 10/15 | €264,992 | €299,857 | +€34,865 | +13.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | - | €62,000 | +€62,000 | |
| Issued capital | 100 | - | €62,000 | +€62,000 | |
| Reserves | 13 | €6,200 | €41,065 | +€34,865 | +562.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | - | €6,200 | +€6,200 | |
| Reserves not available under the articles | 1311 | €6,200 | - | -€6,200 | |
| Distributable reserves | 133 | - | €34,865 | +€34,865 | |
| Profit (loss) carried forward | 14 | €196,792 | €196,792 | = | 0.0% |
| Amounts payable | 17/49 | €458,858 | €414,435 | -€44,424 | -9.7% |
| Amounts payable after more than one year | 17 | €91,087 | €91,087 | = | 0.0% |
| Other amounts payable | 178/9 | €91,087 | €91,087 | = | 0.0% |
| Amounts payable within one year | 42/48 | €282,584 | €239,436 | -€43,148 | -15.3% |
| Current portion of amounts payable after more than one year | 42 | €3,750 | €1,583 | -€2,167 | -57.8% |
| Trade debts | 44 | €153,761 | €145,186 | -€8,575 | -5.6% |
| Suppliers | 440/4 | €153,761 | €145,186 | -€8,575 | -5.6% |
| Taxes, remuneration and social security | 45 | €11,715 | €20,716 | +€9,001 | +76.8% |
| Taxes | 450/3 | €11,715 | €20,716 | +€9,001 | +76.8% |
| Other amounts payable | 47/48 | €113,358 | €71,951 | -€41,406 | -36.5% |
| Accrued charges and deferred income | 492/3 | €85,187 | €83,911 | -€1,276 | -1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,911 | €8,219 | +€308 | +3.9% |
| Other operating charges | 640/8 | €152 | €1,981 | +€1,829 | +1206.6% |
| Gross operating margin | 9900 | €54,631 | €49,971 | -€4,660 | -8.5% |
| Operating profit (loss) | 9901 | €46,569 | €39,771 | -€6,797 | -14.6% |
| Financial income | 75/76B | €2,362 | €20,320 | +€17,958 | +760.1% |
| Recurring financial income | 75 | €2,362 | €20,320 | +€17,958 | +760.1% |
| Financial charges | 65/66B | €4,547 | €5,493 | +€946 | +20.8% |
| Recurring financial charges | 65 | €4,547 | €5,493 | +€946 | +20.8% |
| Profit (loss) for the period before taxes | 9903 | €44,384 | €54,599 | +€10,214 | +23.0% |
| Income taxes | 67/77 | €13,721 | €19,734 | +€6,013 | +43.8% |
| Profit (loss) for the period | 9904 | €30,663 | €34,865 | +€4,202 | +13.7% |
| Profit (loss) for the period to be appropriated | 9905 | €30,663 | €34,865 | +€4,202 | +13.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.