HOLIVER: 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.
HOLIVER
Largest movements
- Receivables within one year +€15,542
up €15,542 (+3.6%), from €426,485 to €442,027
- Cash +€13,275
up €13,275 (+14.7%), from €90,554 to €103,830
mainly Trade debts (+€17,361) and Depreciation (+€10,442)
- Trade debts +€17,361
up €17,361, from €0 to €17,361
- Gross operating margin -€27,458
down €27,458 (-74.9%), from €36,683 to €9,224
- Financial charges -€9,799
down €9,799 (-92.6%), from €10,578 to €779
- Taxes -€4,860
down €4,860 (-56.5%), from €8,599 to €3,739
- Other operating charges +€1,039
up €1,039 (+28.9%), from €3,592 to €4,631
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 | €1,120,769 | €1,139,385 | +€18,617 | +1.7% |
| Fixed assets | 21/28 | €583,579 | €573,137 | -€10,442 | -1.8% |
| Tangible fixed assets | 22/27 | €186,330 | €175,888 | -€10,442 | -5.6% |
| Land and buildings | 22 | €186,330 | €175,888 | -€10,442 | -5.6% |
| Financial fixed assets | 28 | €397,248 | €397,248 | = | 0.0% |
| Current assets | 29/58 | €537,190 | €566,249 | +€29,059 | +5.4% |
| Amounts receivable within one year | 40/41 | €426,485 | €442,027 | +€15,542 | +3.6% |
| Other amounts receivable | 41 | €426,485 | €442,027 | +€15,542 | +3.6% |
| Cash at bank and in hand | 54/58 | €90,554 | €103,830 | +€13,275 | +14.7% |
| Deferred charges and accrued income | 490/1 | €20,150 | €20,392 | +€242 | +1.2% |
| Total equity and liabilities | 10/49 | €1,120,769 | €1,139,385 | +€18,617 | +1.7% |
| Equity | 10/15 | €1,070,971 | €1,077,236 | +€6,265 | +0.6% |
| Contributions | 10/11 | €273,000 | €273,000 | = | 0.0% |
| Capital | 10 | €273,000 | €273,000 | = | 0.0% |
| Issued capital | 100 | €273,000 | €273,000 | = | 0.0% |
| Reserves | 13 | €844,364 | €840,643 | -€3,721 | -0.4% |
| Non-distributable reserves | 130/1 | €27,300 | €27,300 | = | 0.0% |
| Legal reserve | 130 | €27,300 | €27,300 | = | 0.0% |
| Tax-exempt reserves | 132 | €67,064 | €63,343 | -€3,721 | -5.5% |
| Distributable reserves | 133 | €750,000 | €750,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,394 | -€36,407 | +€9,987 | +21.5% |
| Provisions and deferred taxes | 16 | €22,355 | €21,114 | -€1,240 | -5.5% |
| Deferred taxes | 168 | €22,355 | €21,114 | -€1,240 | -5.5% |
| Amounts payable | 17/49 | €27,443 | €41,035 | +€13,592 | +49.5% |
| Amounts payable within one year | 42/48 | €8,600 | €21,111 | +€12,511 | +145.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €0 | €17,361 | +€17,361 | |
| Suppliers | 440/4 | €0 | €17,361 | +€17,361 | |
| Taxes, remuneration and social security | 45 | €8,600 | €3,750 | -€4,850 | -56.4% |
| Taxes | 450/3 | €8,600 | €3,750 | -€4,850 | -56.4% |
| Accrued charges and deferred income | 492/3 | €18,843 | €19,924 | +€1,081 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,442 | €10,442 | = | 0.0% |
| Other operating charges | 640/8 | €3,592 | €4,631 | +€1,039 | +28.9% |
| Gross operating margin | 9900 | €36,683 | €9,224 | -€27,458 | -74.9% |
| Operating profit (loss) | 9901 | €22,648 | -€5,849 | -€28,498 | |
| Financial income | 75/76B | €15,150 | €15,392 | +€242 | +1.6% |
| Recurring financial income | 75 | €15,150 | €15,392 | +€242 | +1.6% |
| Financial charges | 65/66B | €10,578 | €779 | -€9,799 | -92.6% |
| Recurring financial charges | 65 | €10,578 | €779 | -€9,799 | -92.6% |
| Profit (loss) for the period before taxes | 9903 | €27,220 | €8,764 | -€18,457 | -67.8% |
| Transfer from deferred taxes | 780 | €1,240 | €1,240 | = | 0.0% |
| Income taxes | 67/77 | €8,599 | €3,739 | -€4,860 | -56.5% |
| Profit (loss) for the period | 9904 | €19,862 | €6,265 | -€13,596 | -68.5% |
| Transfer from tax-exempt reserves | 789 | €3,721 | €3,721 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €23,583 | €9,987 | -€13,596 | -57.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.