HOLON: 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.
HOLON
Largest movements
- Cash +€145,114
up €145,114 (+96.7%), from €150,021 to €295,136
mainly Current investments (+€120,646) and Net result for the year (+€102,600)
- Current investments -€120,646
down €120,646 (-63.5%), from €189,998 to €69,352
- Receivables within one year +€28,490
up €28,490 (+14.0%), from €203,341 to €231,831
of which Trade receivables: +€19,404
- Reserves +€42,867
up €42,867 (+10.6%), from €405,078 to €447,944
- Other debts -€10,474
down €10,474 (-100%), from €10,474 to €0
- Trade debts +€9,400
up €9,400 (+8.3%), from €113,227 to €122,627
- Tax, wage and social debts +€8,251
up €8,251 (+57.9%), from €14,242 to €22,493
of which Taxes: +€10,248
- Financial income +€42,564
up €42,564 (+1,626%), from €2,617 to €45,181
- Gross operating margin -€22,101
down €22,101 (-23.8%), from €92,967 to €70,867
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 | €562,354 | €612,250 | +€49,896 | +8.9% |
| Fixed assets | 21/28 | €10,517 | €7,326 | -€3,192 | -30.3% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €10,427 | €7,236 | -€3,192 | -30.6% |
| Furniture and vehicles | 24 | €1,503 | €642 | -€861 | -57.3% |
| Other tangible fixed assets | 26 | €8,924 | €6,594 | -€2,330 | -26.1% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €551,837 | €604,925 | +€53,088 | +9.6% |
| Amounts receivable within one year | 40/41 | €203,341 | €231,831 | +€28,490 | +14.0% |
| Trade receivables | 40 | €203,341 | €222,744 | +€19,404 | +9.5% |
| Other amounts receivable | 41 | €0 | €9,086 | +€9,086 | |
| Current investments | 50/53 | €189,998 | €69,352 | -€120,646 | -63.5% |
| Cash at bank and in hand | 54/58 | €150,021 | €295,136 | +€145,114 | +96.7% |
| Deferred charges and accrued income | 490/1 | €8,477 | €8,606 | +€130 | +1.5% |
| Total equity and liabilities | 10/49 | €562,354 | €612,250 | +€49,896 | +8.9% |
| Equity | 10/15 | €423,678 | €466,544 | +€42,867 | +10.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €405,078 | €447,944 | +€42,867 | +10.6% |
| Distributable reserves | 133 | €405,078 | €447,944 | +€42,867 | +10.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €138,677 | €145,706 | +€7,030 | +5.1% |
| Amounts payable within one year | 42/48 | €138,677 | €145,706 | +€7,030 | +5.1% |
| Financial debts | 43 | €734 | €586 | -€147 | -20.1% |
| Credit institutions | 430/8 | €734 | €586 | -€147 | -20.1% |
| Trade debts | 44 | €113,227 | €122,627 | +€9,400 | +8.3% |
| Suppliers | 440/4 | €113,227 | €122,627 | +€9,400 | +8.3% |
| Taxes, remuneration and social security | 45 | €14,242 | €22,493 | +€8,251 | +57.9% |
| Taxes | 450/3 | €12,245 | €22,493 | +€10,248 | +83.7% |
| Remuneration and social security | 454/9 | €1,997 | €0 | -€1,997 | -100% |
| Other amounts payable | 47/48 | €10,474 | €0 | -€10,474 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,994 | €3,192 | -€802 | -20.1% |
| Other operating charges | 640/8 | €613 | €632 | +€19 | +3.0% |
| Gross operating margin | 9900 | €92,967 | €70,867 | -€22,101 | -23.8% |
| Operating profit (loss) | 9901 | €88,360 | €67,043 | -€21,317 | -24.1% |
| Financial income | 75/76B | €2,617 | €45,181 | +€42,564 | +1,626% |
| Recurring financial income | 75 | €2,617 | €45,181 | +€42,564 | +1,626% |
| Financial charges | 65/66B | €440 | €148 | -€292 | -66.4% |
| Recurring financial charges | 65 | €440 | €148 | -€292 | -66.4% |
| Profit (loss) for the period before taxes | 9903 | €90,538 | €112,076 | +€21,539 | +23.8% |
| Income taxes | 67/77 | €8,944 | €9,476 | +€532 | +6.0% |
| Profit (loss) for the period | 9904 | €81,594 | €102,600 | +€21,006 | +25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €81,594 | €102,600 | +€21,006 | +25.7% |
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.