HolsbeekVD Brecht: 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
HolsbeekVD Brecht
NACE 47.730, Retail sale of pharmaceutical products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€3,042
2024 · -€86,001+€89,043
Equity
€32,260
2024 · €29,217+€3,042
Cash
€15,520
2024 · €20,948-€5,428
Balance sheet total
€2.5m
2024 · €2.2m+€261,031
Largest movements
Assets
- Receivables within one year +€338,450
up €338,450 (+33.4%), from €1.0m to €1.4m
of which Other amounts receivable: +€298,745
- Tangible fixed assets -€87,024
down €87,024 (-10.7%), from €811,384 to €724,360
of which Plant, machinery and equipment: -€62,985
Equity and liabilities
- Trade debts +€303,576
up €303,576 (+55.2%), from €550,073 to €853,649
- Debts after one year -€80,706
down €80,706 (-9.4%), from €859,675 to €778,969
- Other debts +€48,476
up €48,476 (+57.8%), from €83,934 to €132,410
- Current portion of long-term debt -€29,108
down €29,108 (-26.5%), from €109,815 to €80,706
Income statement
- Gross operating margin +€114,394
up €114,394 (+32.6%), from €350,571 to €464,965
- Financial charges +€12,315
up €12,315 (+15.7%), from €78,524 to €90,840
- Staff costs +€12,081
up €12,081 (+4.7%), from €254,796 to €266,877
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
-€86,001
Gross operating margin
+€114,394
Staff costs
-€12,081
Depreciation
-€868
Other operating charges
-€131
Other operating items
+€180
Financial income
-€135
Financial charges
-€12,315
Result 2025
€3,042
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€118,938
Investment
-€14,689
Financing
-€109,678
Cash 2024
€20,948
From operations (derived)
+€118,938
Net result for the year
+€3,042
Depreciation
+€101,713
Stocks and contracts
-€19,422
Receivables within one year
-€338,450
Deferred charges and accrued income
+€4,388
Trade debts
+€303,576
Tax, wage and social debts
+€15,606
Other debts
+€48,476
Accrued charges and deferred income
+€8
Investment (derived)
-€14,689
Investment in fixed assets (net)
-€14,689
Financing
-€109,678
Debts after one year
-€80,706
Current portion of long-term debt
-€29,108
Short-term financial debts
+€137
Cash 2025
€15,520
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,196,840 | €2,457,871 | +€261,031 | +11.9% |
| Fixed assets | 21/28 | €811,384 | €724,360 | -€87,024 | -10.7% |
| Tangible fixed assets | 22/27 | €811,384 | €724,360 | -€87,024 | -10.7% |
| Land and buildings | 22 | €438,903 | €414,864 | -€24,040 | -5.5% |
| Plant, machinery and equipment | 23 | €372,481 | €309,496 | -€62,985 | -16.9% |
| Current assets | 29/58 | €1,385,456 | €1,733,511 | +€348,055 | +25.1% |
| Stocks and contracts in progress | 3 | €321,273 | €340,694 | +€19,422 | +6.0% |
| Stocks | 30/36 | €321,273 | €340,694 | +€19,422 | +6.0% |
| Amounts receivable within one year | 40/41 | €1,012,888 | €1,351,338 | +€338,450 | +33.4% |
| Trade receivables | 40 | €185,341 | €225,046 | +€39,705 | +21.4% |
| Other amounts receivable | 41 | €827,547 | €1,126,292 | +€298,745 | +36.1% |
| Cash at bank and in hand | 54/58 | €20,948 | €15,520 | -€5,428 | -25.9% |
| Deferred charges and accrued income | 490/1 | €30,347 | €25,959 | -€4,388 | -14.5% |
| Total equity and liabilities | 10/49 | €2,196,840 | €2,457,871 | +€261,031 | +11.9% |
| Equity | 10/15 | €29,217 | €32,260 | +€3,042 | +10.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €202,400 | €202,400 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,400 | €12,400 | = | 0.0% |
| Legal reserve | 130 | €12,400 | €12,400 | = | 0.0% |
| Distributable reserves | 133 | €190,000 | €190,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€234,683 | -€231,640 | +€3,042 | +1.3% |
| Amounts payable | 17/49 | €2,167,623 | €2,425,611 | +€257,988 | +11.9% |
| Amounts payable after more than one year | 17 | €859,675 | €778,969 | -€80,706 | -9.4% |
| Financial debts | 170/4 | €859,675 | €778,969 | -€80,706 | -9.4% |
| Amounts payable within one year | 42/48 | €1,306,267 | €1,644,954 | +€338,687 | +25.9% |
| Current portion of amounts payable after more than one year | 42 | €109,815 | €80,706 | -€29,108 | -26.5% |
| Financial debts | 43 | €520,017 | €520,153 | +€137 | 0.0% |
| Credit institutions | 430/8 | €520,017 | €520,153 | +€137 | 0.0% |
| Trade debts | 44 | €550,073 | €853,649 | +€303,576 | +55.2% |
| Suppliers | 440/4 | €550,073 | €853,649 | +€303,576 | +55.2% |
| Taxes, remuneration and social security | 45 | €42,429 | €58,035 | +€15,606 | +36.8% |
| Taxes | 450/3 | €3,944 | €5,904 | +€1,959 | +49.7% |
| Remuneration and social security | 454/9 | €38,485 | €52,131 | +€13,647 | +35.5% |
| Other amounts payable | 47/48 | €83,934 | €132,410 | +€48,476 | +57.8% |
| Accrued charges and deferred income | 492/3 | €1,680 | €1,688 | +€8 | +0.5% |
| Remuneration, social security and pensions | 62 | €254,796 | €266,877 | +€12,081 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,845 | €101,713 | +€868 | +0.9% |
| Other operating charges | 640/8 | €2,435 | €2,566 | +€131 | +5.4% |
| Non-recurring operating charges | 66A | €180 | - | -€180 | |
| Gross operating margin | 9900 | €350,571 | €464,965 | +€114,394 | +32.6% |
| Operating profit (loss) | 9901 | -€7,684 | €93,809 | +€101,493 | |
| Financial income | 75/76B | €208 | €73 | -€135 | -64.9% |
| Recurring financial income | 75 | €1 | €73 | +€72 | +5,009% |
| Non-recurring financial income | 76B | €207 | - | -€207 | |
| Financial charges | 65/66B | €78,524 | €90,840 | +€12,315 | +15.7% |
| Recurring financial charges | 65 | €78,524 | €90,840 | +€12,315 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | -€86,001 | €3,042 | +€89,043 | |
| Profit (loss) for the period | 9904 | -€86,001 | €3,042 | +€89,043 | |
| Profit (loss) for the period to be appropriated | 9905 | -€86,001 | €3,042 | +€89,043 |
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 24 October 2026 via checked.be.