HOLGERSSON CONSULT: what changed
Two fiscal 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.
HOLGERSSON CONSULT
Largest movements
- Cash -€80,668
down €80,668 (-18.7%), from €432,400 to €351,732
mainly Tax, wage and social debts (-€56,487) and Receivables within one year (-€44,408)
- Receivables within one year +€44,408
up €44,408 (+51.3%), from €86,621 to €131,029
of which Trade receivables: +€23,617
- Tangible fixed assets -€20,171
down €20,171 (-7.6%), from €264,375 to €244,204
of which Land and buildings: -€17,313
- Tax, wage and social debts -€56,487
down €56,487 (-72.3%), from €78,148 to €21,661
- Reserves +€42,930
up €42,930 (+3.1%), from €1.4m to €1.4m
of which Distributable reserves: +€42,930
- Other debts -€29,419
down €29,419 (-42.3%), from €69,579 to €40,160
- Gross operating margin -€223,104
down €223,104 (-67.3%), from €331,648 to €108,544
- Taxes -€77,590
down €77,590 (-69.9%), from €111,066 to €33,476
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.
Cash bridge derived
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 | €1,783,395 | €1,726,965 | -€56,430 | -3.2% |
| Fixed assets | 21/28 | €264,375 | €244,204 | -€20,171 | -7.6% |
| Tangible fixed assets | 22/27 | €264,375 | €244,204 | -€20,171 | -7.6% |
| Land and buildings | 22 | €242,379 | €225,066 | -€17,313 | -7.1% |
| Furniture and vehicles | 24 | €21,996 | €16,330 | -€5,666 | -25.8% |
| Other tangible fixed assets | 26 | - | €2,808 | +€2,808 | |
| Current assets | 29/58 | €1,519,020 | €1,482,761 | -€36,259 | -2.4% |
| Amounts receivable within one year | 40/41 | €86,621 | €131,029 | +€44,408 | +51.3% |
| Trade receivables | 40 | €63,718 | €87,334 | +€23,617 | +37.1% |
| Other amounts receivable | 41 | €22,903 | €43,695 | +€20,792 | +90.8% |
| Current investments | 50/53 | €1,000,000 | €1,000,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €432,400 | €351,732 | -€80,668 | -18.7% |
| Total equity and liabilities | 10/49 | €1,783,395 | €1,726,965 | -€56,430 | -3.2% |
| Equity | 10/15 | €1,408,366 | €1,451,296 | +€42,930 | +3.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,402,166 | €1,445,096 | +€42,930 | +3.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,400,306 | €1,443,236 | +€42,930 | +3.1% |
| Amounts payable | 17/49 | €375,029 | €275,669 | -€99,360 | -26.5% |
| Amounts payable after more than one year | 17 | €176,973 | €165,802 | -€11,171 | -6.3% |
| Financial debts | 170/4 | €176,973 | €165,802 | -€11,171 | -6.3% |
| Amounts payable within one year | 42/48 | €198,056 | €109,867 | -€88,189 | -44.5% |
| Current portion of amounts payable after more than one year | 42 | €10,885 | €11,171 | +€286 | +2.6% |
| Trade debts | 44 | €39,445 | €36,876 | -€2,569 | -6.5% |
| Suppliers | 440/4 | €39,445 | €36,876 | -€2,569 | -6.5% |
| Taxes, remuneration and social security | 45 | €78,148 | €21,661 | -€56,487 | -72.3% |
| Taxes | 450/3 | €78,148 | €21,661 | -€56,487 | -72.3% |
| Other amounts payable | 47/48 | €69,579 | €40,160 | -€29,419 | -42.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,386 | €23,171 | +€785 | +3.5% |
| Other operating charges | 640/8 | €1,848 | €1,898 | +€50 | +2.7% |
| Gross operating margin | 9900 | €331,648 | €108,544 | -€223,104 | -67.3% |
| Operating profit (loss) | 9901 | €307,414 | €83,475 | -€223,938 | -72.8% |
| Financial income | 75/76B | €40,154 | €38,320 | -€1,834 | -4.6% |
| Recurring financial income | 75 | €40,154 | €38,320 | -€1,834 | -4.6% |
| Financial charges | 65/66B | €6,729 | €5,390 | -€1,339 | -19.9% |
| Recurring financial charges | 65 | €6,729 | €5,390 | -€1,339 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €340,839 | €116,406 | -€224,433 | -65.8% |
| Income taxes | 67/77 | €111,066 | €33,476 | -€77,590 | -69.9% |
| Profit (loss) for the period | 9904 | €229,773 | €82,930 | -€146,843 | -63.9% |
| Profit (loss) for the period to be appropriated | 9905 | €229,773 | €82,930 | -€146,843 | -63.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.