HOLOW: 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.
HOLOW
Largest movements
- Cash +€24,548
up €24,548 (+166.5%), from €14,742 to €39,290
mainly Trade debts (+€13,228) and Depreciation (+€13,202)
- Receivables within one year -€2,628
down €2,628 (-9.6%), from €27,413 to €24,785
of which Other amounts receivable: -€4,628
- Tangible fixed assets +€1,098
up €1,098 (+4.9%), from €22,440 to €23,538
- Trade debts +€13,228
up €13,228 (+448.8%), from €2,948 to €16,175
- Profit (loss) carried forward +€7,919
up €7,919 (+28.2%), from €28,079 to €35,998
- Tax, wage and social debts +€2,131
up €2,131 (+16.3%), from €13,049 to €15,180
of which Taxes: +€3,253
- Gross operating margin -€25,305
down €25,305 (-41.1%), from €61,523 to €36,218
- Staff costs -€7,113
down €7,113 (-92.3%), from €7,706 to €592
- Taxes -€5,825
down €5,825 (-57.2%), from €10,178 to €4,353
- Depreciation +€1,763
up €1,763 (+15.4%), from €11,440 to €13,202
- Financial income +€1,475
up €1,475 (+95787.7%), from €2 to €1,477
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 | €64,795 | €87,813 | +€23,018 | +35.5% |
| Fixed assets | 21/28 | €22,640 | €23,738 | +€1,098 | +4.8% |
| Tangible fixed assets | 22/27 | €22,440 | €23,538 | +€1,098 | +4.9% |
| Furniture and vehicles | 24 | €22,440 | €23,538 | +€1,098 | +4.9% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €42,155 | €64,076 | +€21,920 | +52.0% |
| Amounts receivable within one year | 40/41 | €27,413 | €24,785 | -€2,628 | -9.6% |
| Trade receivables | 40 | - | €2,000 | +€2,000 | |
| Other amounts receivable | 41 | €27,413 | €22,785 | -€4,628 | -16.9% |
| Cash at bank and in hand | 54/58 | €14,742 | €39,290 | +€24,548 | +166.5% |
| Total equity and liabilities | 10/49 | €64,795 | €87,813 | +€23,018 | +35.5% |
| Equity | 10/15 | €48,539 | €56,458 | +€7,919 | +16.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,079 | €35,998 | +€7,919 | +28.2% |
| Amounts payable | 17/49 | €16,257 | €31,355 | +€15,099 | +92.9% |
| Amounts payable within one year | 42/48 | €16,257 | €31,355 | +€15,099 | +92.9% |
| Trade debts | 44 | €2,948 | €16,175 | +€13,228 | +448.8% |
| Suppliers | 440/4 | €2,948 | €16,175 | +€13,228 | +448.8% |
| Taxes, remuneration and social security | 45 | €13,049 | €15,180 | +€2,131 | +16.3% |
| Taxes | 450/3 | €11,926 | €15,180 | +€3,253 | +27.3% |
| Remuneration and social security | 454/9 | €1,123 | - | -€1,123 | |
| Other amounts payable | 47/48 | €260 | - | -€260 | |
| Remuneration, social security and pensions | 62 | €7,706 | €592 | -€7,113 | -92.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,440 | €13,202 | +€1,763 | +15.4% |
| Other operating charges | 640/8 | €3,878 | €3,946 | +€68 | +1.8% |
| Non-recurring operating charges | 66A | - | €7,355 | +€7,355 | |
| Gross operating margin | 9900 | €61,523 | €36,218 | -€25,305 | -41.1% |
| Operating profit (loss) | 9901 | €38,500 | €11,122 | -€27,378 | -71.1% |
| Financial income | 75/76B | €2 | €1,477 | +€1,475 | +95787.7% |
| Recurring financial income | 75 | €2 | €1,477 | +€1,475 | +95787.7% |
| Financial charges | 65/66B | €364 | €327 | -€38 | -10.3% |
| Recurring financial charges | 65 | €364 | €327 | -€38 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €38,137 | €12,272 | -€25,865 | -67.8% |
| Income taxes | 67/77 | €10,178 | €4,353 | -€5,825 | -57.2% |
| Profit (loss) for the period | 9904 | €27,959 | €7,919 | -€20,040 | -71.7% |
| Profit (loss) for the period to be appropriated | 9905 | €27,959 | €7,919 | -€20,040 | -71.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.