HOLLAERT: 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.
What changed
HOLLAERT
NACE 25.940, Manufacture of fabricated metal products, except machinery and equipment
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€52,309
2024 · €36,798+€15,511
Equity
€413,159
2024 · €365,957+€47,202
Cash
€8,959
2024 · €8,165+€794
Balance sheet total
€1.2m
2024 · €1.2m-€24,457
Largest movements
Assets
- Tangible fixed assets -€43,441
down €43,441 (-9.8%), from €443,838 to €400,397
of which Land and buildings: -€33,622
Equity and liabilities
- Trade debts -€79,645
down €79,645 (-49.7%), from €160,391 to €80,746
- Other debts -€75,000
down €75,000 (-15.2%), from €494,000 to €419,000
- Profit (loss) carried forward +€52,309
up €52,309 (+38.5%), from €135,904 to €188,213
- Debts after one year +€43,653
up €43,653 (+26.0%), from €167,804 to €211,457
- Current portion of long-term debt +€27,285
up €27,285 (+69.2%), from €39,453 to €66,738
Income statement
- Gross operating margin +€40,673
up €40,673 (+14.5%), from €280,436 to €321,109
- Taxes +€17,416
up €17,416 (+149.2%), from €11,676 to €29,092
- Financial charges +€3,997
up €3,997 (+25.1%), from €15,911 to €19,909
- Depreciation +€3,577
up €3,577 (+7.5%), from €47,430 to €51,007
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.
Result 2024
€36,798
Gross operating margin
+€40,673
Staff costs
+€741
Depreciation
-€3,577
Write-downs
-€347
Other operating charges
-€2,518
Financial income
+€1,953
Financial charges
-€3,997
Taxes
-€17,416
Result 2025
€52,309
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.
From operations
-€57,471
Investment
-€7,566
Financing
+€65,831
Cash 2024
€8,165
From operations (derived)
-€57,471
Net result for the year
+€52,309
Depreciation
+€51,007
Stocks and contracts
-€9,811
Receivables within one year
-€9,457
Deferred charges and accrued income
+€1,077
Trade debts
-€79,645
Tax, wage and social debts
+€12,048
Other debts
-€75,000
Investment (derived)
-€7,566
Investment in fixed assets (net)
-€7,566
Financing
+€65,831
Debts after one year
+€43,653
Current portion of long-term debt
+€27,285
Contributions, distributions and other
-€5,107
Cash 2025
€8,959
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,249,826 | €1,225,369 | -€24,457 | -2.0% |
| Fixed assets | 21/28 | €443,863 | €400,422 | -€43,441 | -9.8% |
| Tangible fixed assets | 22/27 | €443,838 | €400,397 | -€43,441 | -9.8% |
| Land and buildings | 22 | €416,481 | €382,860 | -€33,622 | -8.1% |
| Plant, machinery and equipment | 23 | €3,186 | €1,200 | -€1,986 | -62.3% |
| Furniture and vehicles | 24 | €24,171 | €16,337 | -€7,833 | -32.4% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €805,963 | €824,947 | +€18,984 | +2.4% |
| Stocks and contracts in progress | 3 | €429,935 | €439,745 | +€9,811 | +2.3% |
| Stocks | 30/36 | €429,935 | €439,745 | +€9,811 | +2.3% |
| Amounts receivable within one year | 40/41 | €358,691 | €368,148 | +€9,457 | +2.6% |
| Trade receivables | 40 | €355,230 | €367,863 | +€12,633 | +3.6% |
| Other amounts receivable | 41 | €3,462 | €286 | -€3,176 | -91.7% |
| Cash at bank and in hand | 54/58 | €8,165 | €8,959 | +€794 | +9.7% |
| Deferred charges and accrued income | 490/1 | €9,172 | €8,095 | -€1,077 | -11.7% |
| Total equity and liabilities | 10/49 | €1,249,826 | €1,225,369 | -€24,457 | -2.0% |
| Equity | 10/15 | €365,957 | €413,159 | +€47,202 | +12.9% |
| Contributions | 10/11 | €172,000 | €172,000 | = | 0.0% |
| Capital | 10 | €172,000 | €172,000 | = | 0.0% |
| Issued capital | 100 | €172,000 | €172,000 | = | 0.0% |
| Reserves | 13 | €17,200 | €17,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,200 | €17,200 | = | 0.0% |
| Legal reserve | 130 | €17,200 | €17,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €135,904 | €188,213 | +€52,309 | +38.5% |
| Investment grants | 15 | €40,854 | €35,747 | -€5,107 | -12.5% |
| Amounts payable | 17/49 | €883,869 | €812,209 | -€71,660 | -8.1% |
| Amounts payable after more than one year | 17 | €167,804 | €211,457 | +€43,653 | +26.0% |
| Financial debts | 170/4 | €167,804 | €211,457 | +€43,653 | +26.0% |
| Amounts payable within one year | 42/48 | €716,065 | €600,753 | -€115,312 | -16.1% |
| Current portion of amounts payable after more than one year | 42 | €39,453 | €66,738 | +€27,285 | +69.2% |
| Trade debts | 44 | €160,391 | €80,746 | -€79,645 | -49.7% |
| Suppliers | 440/4 | €160,391 | €80,746 | -€79,645 | -49.7% |
| Taxes, remuneration and social security | 45 | €22,221 | €34,269 | +€12,048 | +54.2% |
| Taxes | 450/3 | €818 | €14,017 | +€13,199 | +1612.8% |
| Remuneration and social security | 454/9 | €21,403 | €20,251 | -€1,151 | -5.4% |
| Other amounts payable | 47/48 | €494,000 | €419,000 | -€75,000 | -15.2% |
| Remuneration, social security and pensions | 62 | €177,624 | €176,883 | -€741 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,430 | €51,007 | +€3,577 | +7.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €347 | +€347 | |
| Other operating charges | 640/8 | €13,590 | €16,108 | +€2,518 | +18.5% |
| Gross operating margin | 9900 | €280,436 | €321,109 | +€40,673 | +14.5% |
| Operating profit (loss) | 9901 | €41,791 | €76,762 | +€34,972 | +83.7% |
| Financial income | 75/76B | €22,595 | €24,547 | +€1,953 | +8.6% |
| Recurring financial income | 75 | €22,595 | €24,547 | +€1,953 | +8.6% |
| Financial charges | 65/66B | €15,911 | €19,909 | +€3,997 | +25.1% |
| Recurring financial charges | 65 | €15,911 | €19,909 | +€3,997 | +25.1% |
| Profit (loss) for the period before taxes | 9903 | €48,475 | €81,401 | +€32,927 | +67.9% |
| Income taxes | 67/77 | €11,676 | €29,092 | +€17,416 | +149.2% |
| Profit (loss) for the period | 9904 | €36,798 | €52,309 | +€15,511 | +42.2% |
| Profit (loss) for the period to be appropriated | 9905 | €36,798 | €52,309 | +€15,511 | +42.2% |
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 9 October 2026 via checked.be.