HOLVA: 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.
HOLVA
Largest movements
- Current investments +€155,000
up €155,000 (+55.4%), from €280,000 to €435,000
- Cash -€64,176
down €64,176 (-65.2%), from €98,366 to €34,189
mainly Current investments (-€155,000) and Deferred charges and accrued income (-€2,853)
- Tangible fixed assets -€61,798
down €61,798 (-5.8%), from €1.1m to €1.0m
of which Land and buildings: -€39,765
No liability line moved by more than 1% of the balance sheet total.
- Other operating charges +€4,065
up €4,065 (+36.8%), from €11,058 to €15,123
- Taxes +€2,859
up €2,859 (+16.8%), from €17,045 to €19,904
- Depreciation -€1,388
down €1,388 (-2.2%), from €63,186 to €61,798
- Financial income -€1,124
down €1,124 (-2.5%), from €44,756 to €43,632
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 | €2,084,409 | €2,109,571 | +€25,162 | +1.2% |
| Fixed assets | 21/28 | €1,069,752 | €1,007,954 | -€61,798 | -5.8% |
| Tangible fixed assets | 22/27 | €1,069,752 | €1,007,954 | -€61,798 | -5.8% |
| Land and buildings | 22 | €1,029,424 | €989,659 | -€39,765 | -3.9% |
| Furniture and vehicles | 24 | €40,328 | €18,295 | -€22,032 | -54.6% |
| Current assets | 29/58 | €1,014,657 | €1,101,617 | +€86,960 | +8.6% |
| Amounts receivable after more than one year | 29 | €613,750 | €613,750 | = | 0.0% |
| Other amounts receivable | 291 | €613,750 | €613,750 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,537 | €7,821 | -€6,716 | -46.2% |
| Trade receivables | 40 | €6,384 | €7,821 | +€1,437 | +22.5% |
| Other amounts receivable | 41 | €8,153 | €0 | -€8,153 | -100.0% |
| Current investments | 50/53 | €280,000 | €435,000 | +€155,000 | +55.4% |
| Cash at bank and in hand | 54/58 | €98,366 | €34,189 | -€64,176 | -65.2% |
| Deferred charges and accrued income | 490/1 | €8,004 | €10,856 | +€2,853 | +35.6% |
| Total equity and liabilities | 10/49 | €2,084,409 | €2,109,571 | +€25,162 | +1.2% |
| Equity | 10/15 | €2,051,593 | €2,071,096 | +€19,503 | +1.0% |
| Contributions | 10/11 | €1,237,870 | €1,237,870 | = | 0.0% |
| Reserves | 13 | €813,662 | €833,226 | +€19,563 | +2.4% |
| Tax-exempt reserves | 132 | €34,239 | €32,138 | -€2,101 | -6.1% |
| Distributable reserves | 133 | €779,423 | €801,088 | +€21,665 | +2.8% |
| Profit (loss) carried forward | 14 | €61 | €0 | -€61 | -100.0% |
| Provisions and deferred taxes | 16 | €11,415 | €10,713 | -€702 | -6.2% |
| Deferred taxes | 168 | €11,415 | €10,713 | -€702 | -6.2% |
| Amounts payable | 17/49 | €21,400 | €27,762 | +€6,362 | +29.7% |
| Amounts payable within one year | 42/48 | €20,310 | €26,707 | +€6,397 | +31.5% |
| Trade debts | 44 | €681 | €5,803 | +€5,122 | +751.9% |
| Suppliers | 440/4 | €681 | €5,803 | +€5,122 | +751.9% |
| Taxes, remuneration and social security | 45 | €2,105 | €5,518 | +€3,413 | +162.1% |
| Taxes | 450/3 | €2,105 | €5,518 | +€3,413 | +162.1% |
| Other amounts payable | 47/48 | €17,523 | €15,385 | -€2,138 | -12.2% |
| Accrued charges and deferred income | 492/3 | €1,091 | €1,056 | -€35 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,186 | €61,798 | -€1,388 | -2.2% |
| Other operating charges | 640/8 | €11,058 | €15,123 | +€4,065 | +36.8% |
| Gross operating margin | 9900 | €72,595 | €73,077 | +€482 | +0.7% |
| Operating profit (loss) | 9901 | -€1,649 | -€3,844 | -€2,195 | -133.1% |
| Financial income | 75/76B | €44,756 | €43,632 | -€1,124 | -2.5% |
| Recurring financial income | 75 | €44,756 | €43,632 | -€1,124 | -2.5% |
| Financial charges | 65/66B | €1,052 | €1,083 | +€32 | +3.0% |
| Recurring financial charges | 65 | €1,052 | €1,083 | +€32 | +3.0% |
| Profit (loss) for the period before taxes | 9903 | €42,055 | €38,705 | -€3,351 | -8.0% |
| Transfer from deferred taxes | 780 | €726 | €701 | -€25 | -3.5% |
| Income taxes | 67/77 | €17,045 | €19,904 | +€2,859 | +16.8% |
| Profit (loss) for the period | 9904 | €25,736 | €19,501 | -€6,235 | -24.2% |
| Transfer from tax-exempt reserves | 789 | €2,178 | €2,103 | -€76 | -3.5% |
| Profit (loss) for the period to be appropriated | 9905 | €27,914 | €21,604 | -€6,311 | -22.6% |
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 7 October 2026 via checked.be.