HOLOS: 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.
HOLOS
Largest movements
- Tangible fixed assets +€193,602
up €193,602 (+1,014%), from €19,093 to €212,696
of which Assets under construction and advance payments: +€132,003
- Cash +€134,373
up €134,373 (+674%), from €19,931 to €154,304
mainly Debts after one year (+€296,766) and Net result for the year (+€33,646)
- Receivables within one year -€6,316
down €6,316 (-63.0%), from €10,024 to €3,708
of which Trade receivables: -€6,838
- Current investments +€6,064
up €6,064 (+3.0%), from €204,935 to €210,999
- Debts after one year +€296,766
up €296,766 (+9,177%), from €3,234 to €300,000
- Reserves +€33,646
up €33,646 (+15.8%), from €212,763 to €246,409
of which Distributable reserves: +€33,646
- Gross operating margin -€11,766
down €11,766 (-14.4%), from €81,733 to €69,967
- Financial charges +€7,236
up €7,236 (+2,823%), from €256 to €7,492
- Taxes -€6,970
down €6,970 (-34.4%), from €20,248 to €13,278
- Depreciation +€6,005
up €6,005 (+67.3%), from €8,918 to €14,924
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 | €254,087 | €583,751 | +€329,665 | +130% |
| Fixed assets | 21/28 | €19,093 | €212,696 | +€193,602 | +1,014% |
| Tangible fixed assets | 22/27 | €19,093 | €212,696 | +€193,602 | +1,014% |
| Land and buildings | 22 | - | €69,500 | +€69,500 | |
| Furniture and vehicles | 24 | €19,093 | €11,193 | -€7,901 | -41.4% |
| Assets under construction and advance payments | 27 | - | €132,003 | +€132,003 | |
| Current assets | 29/58 | €234,993 | €371,056 | +€136,062 | +57.9% |
| Amounts receivable within one year | 40/41 | €10,024 | €3,708 | -€6,316 | -63.0% |
| Trade receivables | 40 | €8,998 | €2,160 | -€6,838 | -76.0% |
| Other amounts receivable | 41 | €1,026 | €1,548 | +€522 | +50.9% |
| Current investments | 50/53 | €204,935 | €210,999 | +€6,064 | +3.0% |
| Cash at bank and in hand | 54/58 | €19,931 | €154,304 | +€134,373 | +674% |
| Deferred charges and accrued income | 490/1 | €103 | €2,045 | +€1,942 | +1,885% |
| Total equity and liabilities | 10/49 | €254,087 | €583,751 | +€329,665 | +130% |
| Equity | 10/15 | €235,453 | €269,099 | +€33,646 | +14.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €212,763 | €246,409 | +€33,646 | +15.8% |
| 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 | €210,903 | €244,549 | +€33,646 | +16.0% |
| Profit (loss) carried forward | 14 | €10,289 | €10,289 | = | 0.0% |
| Amounts payable | 17/49 | €18,634 | €314,652 | +€296,018 | +1,589% |
| Amounts payable after more than one year | 17 | €3,234 | €300,000 | +€296,766 | +9,177% |
| Financial debts | 170/4 | €3,234 | €300,000 | +€296,766 | +9,177% |
| Amounts payable within one year | 42/48 | €15,400 | €14,652 | -€748 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €6,373 | €3,234 | -€3,139 | -49.3% |
| Trade debts | 44 | €3,837 | €399 | -€3,438 | -89.6% |
| Suppliers | 440/4 | €3,837 | €399 | -€3,438 | -89.6% |
| Taxes, remuneration and social security | 45 | €4,755 | €9,606 | +€4,851 | +102% |
| Taxes | 450/3 | €4,755 | €9,606 | +€4,851 | +102% |
| Other amounts payable | 47/48 | €435 | €1,414 | +€979 | +225% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,918 | €14,924 | +€6,005 | +67.3% |
| Other operating charges | 640/8 | €742 | €893 | +€150 | +20.2% |
| Gross operating margin | 9900 | €81,733 | €69,967 | -€11,766 | -14.4% |
| Operating profit (loss) | 9901 | €72,072 | €54,151 | -€17,921 | -24.9% |
| Financial income | 75/76B | €542 | €265 | -€277 | -51.0% |
| Recurring financial income | 75 | €542 | €265 | -€277 | -51.0% |
| Financial charges | 65/66B | €256 | €7,492 | +€7,236 | +2,823% |
| Recurring financial charges | 65 | €256 | €7,492 | +€7,236 | +2,823% |
| Profit (loss) for the period before taxes | 9903 | €72,358 | €46,924 | -€25,434 | -35.1% |
| Income taxes | 67/77 | €20,248 | €13,278 | -€6,970 | -34.4% |
| Profit (loss) for the period | 9904 | €52,110 | €33,646 | -€18,463 | -35.4% |
| Profit (loss) for the period to be appropriated | 9905 | €52,110 | €33,646 | -€18,463 | -35.4% |
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 26 October 2026 via checked.be.