HOLFIX: 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.
HOLFIX
Largest movements
- Receivables within one year +€34,861
up €34,861 (+739%), from €4,717 to €39,578
of which Trade receivables: +€38,172
- Tangible fixed assets -€12,880
down €12,880 (-20.0%), from €64,446 to €51,566
of which Furniture and vehicles: -€12,107
- Stocks and contracts +€5,000
up €5,000 (+4.3%), from €115,000 to €120,000
- Other debts +€29,608
up €29,608 (+26.4%), from €111,991 to €141,599
- Trade debts -€14,262
down €14,262 (-37.1%), from €38,436 to €24,174
- Reserves +€5,731
up €5,731 (+16.1%), from €35,513 to €41,245
- Tax, wage and social debts +€4,363
up €4,363 (+37.3%), from €11,685 to €16,048
- Gross operating margin -€33,508
down €33,508 (-55.6%), from €60,270 to €26,762
- Taxes -€7,723
down €7,723 (-84.8%), from €9,111 to €1,388
- Depreciation +€4,566
up €4,566 (+33.5%), from €13,626 to €18,192
- Other operating charges -€628
down €628 (-31.5%), from €1,992 to €1,364
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 | €199,625 | €225,066 | +€25,441 | +12.7% |
| Fixed assets | 21/28 | €64,446 | €51,566 | -€12,880 | -20.0% |
| Tangible fixed assets | 22/27 | €64,446 | €51,566 | -€12,880 | -20.0% |
| Plant, machinery and equipment | 23 | €16,743 | €15,970 | -€773 | -4.6% |
| Furniture and vehicles | 24 | €47,703 | €35,596 | -€12,107 | -25.4% |
| Current assets | 29/58 | €135,179 | €173,500 | +€38,321 | +28.3% |
| Stocks and contracts in progress | 3 | €115,000 | €120,000 | +€5,000 | +4.3% |
| Contracts in progress | 37 | €115,000 | €120,000 | +€5,000 | +4.3% |
| Amounts receivable within one year | 40/41 | €4,717 | €39,578 | +€34,861 | +739% |
| Trade receivables | 40 | €1,406 | €39,578 | +€38,172 | +2,715% |
| Other amounts receivable | 41 | €3,311 | - | -€3,311 | |
| Cash at bank and in hand | 54/58 | €15,077 | €13,523 | -€1,554 | -10.3% |
| Deferred charges and accrued income | 490/1 | €385 | €399 | +€14 | +3.6% |
| Total equity and liabilities | 10/49 | €199,625 | €225,066 | +€25,441 | +12.7% |
| Equity | 10/15 | €37,513 | €43,245 | +€5,731 | +15.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €35,513 | €41,245 | +€5,731 | +16.1% |
| Non-distributable reserves | 130/1 | €35,513 | €41,245 | +€5,731 | +16.1% |
| Other | 1319 | €35,513 | €41,245 | +€5,731 | +16.1% |
| Amounts payable | 17/49 | €162,112 | €181,822 | +€19,709 | +12.2% |
| Amounts payable within one year | 42/48 | €162,112 | €181,822 | +€19,709 | +12.2% |
| Trade debts | 44 | €38,436 | €24,174 | -€14,262 | -37.1% |
| Suppliers | 440/4 | €38,436 | €24,174 | -€14,262 | -37.1% |
| Taxes, remuneration and social security | 45 | €11,685 | €16,048 | +€4,363 | +37.3% |
| Taxes | 450/3 | €11,685 | €16,048 | +€4,363 | +37.3% |
| Other amounts payable | 47/48 | €111,991 | €141,599 | +€29,608 | +26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,626 | €18,192 | +€4,566 | +33.5% |
| Other operating charges | 640/8 | €1,992 | €1,364 | -€628 | -31.5% |
| Gross operating margin | 9900 | €60,270 | €26,762 | -€33,508 | -55.6% |
| Operating profit (loss) | 9901 | €44,652 | €7,206 | -€37,446 | -83.9% |
| Financial income | 75/76B | €80 | €129 | +€48 | +60.0% |
| Recurring financial income | 75 | €80 | €129 | +€48 | +60.0% |
| Financial charges | 65/66B | €109 | €216 | +€107 | +98.4% |
| Recurring financial charges | 65 | €109 | €216 | +€107 | +98.4% |
| Profit (loss) for the period before taxes | 9903 | €44,624 | €7,119 | -€37,505 | -84.0% |
| Income taxes | 67/77 | €9,111 | €1,388 | -€7,723 | -84.8% |
| Profit (loss) for the period | 9904 | €35,513 | €5,731 | -€29,782 | -83.9% |
| Profit (loss) for the period to be appropriated | 9905 | €35,513 | €5,731 | -€29,782 | -83.9% |
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 14 October 2026 via checked.be.