HOLGOS: 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.
HOLGOS
Largest movements
- Tangible fixed assets -€38,678
down €38,678 (-9.5%), from €405,879 to €367,201
of which Furniture and vehicles: -€21,440
- Receivables within one year -€19,003
down €19,003 (-20.3%), from €93,662 to €74,659
of which Other amounts receivable: -€36,414
- Other debts -€236,989
down €236,989 (-64.3%), from €368,440 to €131,451
- Reserves +€169,625
up €169,625 (+31.2%), from €544,530 to €714,155
- Tax, wage and social debts +€27,220
up €27,220 (+346%), from €7,856 to €35,076
- Debts after one year -€14,979
down €14,979 (-26.2%), from €57,123 to €42,144
- Financial income +€338,744
up €338,744 (+11,905%), from €2,845 to €341,589
- Gross operating margin +€75,088
up €75,088, from -€64,062 to €11,026
- Taxes +€30,877
up €30,877, from -€1,192 to €29,685
- Depreciation +€2,904
up €2,904 (+8.1%), from €35,774 to €38,678
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 | €1,008,990 | €950,267 | -€58,723 | -5.8% |
| Fixed assets | 21/28 | €905,879 | €867,201 | -€38,678 | -4.3% |
| Tangible fixed assets | 22/27 | €405,879 | €367,201 | -€38,678 | -9.5% |
| Land and buildings | 22 | €320,551 | €303,314 | -€17,237 | -5.4% |
| Furniture and vehicles | 24 | €85,328 | €63,888 | -€21,440 | -25.1% |
| Financial fixed assets | 28 | €500,000 | €500,000 | = | 0.0% |
| Current assets | 29/58 | €103,111 | €83,066 | -€20,045 | -19.4% |
| Amounts receivable within one year | 40/41 | €93,662 | €74,659 | -€19,003 | -20.3% |
| Trade receivables | 40 | - | €17,410 | +€17,410 | |
| Other amounts receivable | 41 | €93,662 | €57,248 | -€36,414 | -38.9% |
| Cash at bank and in hand | 54/58 | €8,797 | €8,407 | -€390 | -4.4% |
| Deferred charges and accrued income | 490/1 | €651 | €0 | -€651 | -100% |
| Total equity and liabilities | 10/49 | €1,008,990 | €950,267 | -€58,723 | -5.8% |
| Equity | 10/15 | €556,930 | €726,555 | +€169,625 | +30.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €544,530 | €714,155 | +€169,625 | +31.2% |
| Distributable reserves | 133 | €544,530 | €714,155 | +€169,625 | +31.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €452,060 | €223,712 | -€228,348 | -50.5% |
| Amounts payable after more than one year | 17 | €57,123 | €42,144 | -€14,979 | -26.2% |
| Financial debts | 170/4 | €57,123 | €42,144 | -€14,979 | -26.2% |
| Amounts payable within one year | 42/48 | €394,937 | €181,568 | -€213,369 | -54.0% |
| Current portion of amounts payable after more than one year | 42 | €14,380 | €14,979 | +€599 | +4.2% |
| Trade debts | 44 | €4,260 | €61 | -€4,199 | -98.6% |
| Suppliers | 440/4 | €4,260 | €61 | -€4,199 | -98.6% |
| Taxes, remuneration and social security | 45 | €7,856 | €35,076 | +€27,220 | +346% |
| Taxes | 450/3 | €7,856 | €35,076 | +€27,220 | +346% |
| Other amounts payable | 47/48 | €368,440 | €131,451 | -€236,989 | -64.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,774 | €38,678 | +€2,904 | +8.1% |
| Other operating charges | 640/8 | €1,531 | €1,059 | -€472 | -30.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€64,062 | €11,026 | +€75,088 | |
| Operating profit (loss) | 9901 | -€101,367 | -€28,711 | +€72,657 | +71.7% |
| Financial income | 75/76B | €2,845 | €341,589 | +€338,744 | +11,905% |
| Recurring financial income | 75 | €2,845 | €341,589 | +€338,744 | +11,905% |
| Financial charges | 65/66B | €2,838 | €2,368 | -€470 | -16.6% |
| Recurring financial charges | 65 | €2,838 | €2,368 | -€470 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | -€101,360 | €310,510 | +€411,871 | |
| Income taxes | 67/77 | -€1,192 | €29,685 | +€30,877 | |
| Profit (loss) for the period | 9904 | -€100,168 | €280,825 | +€380,994 | |
| Profit (loss) for the period to be appropriated | 9905 | -€100,168 | €280,825 | +€380,994 |
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 29 October 2026 via checked.be.