HOLVAET: 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.
HOLVAET
Largest movements
- Cash -€14,159
down €14,159 (-30.6%), from €46,226 to €32,067
mainly Debts after one year (-€12,368) and Trade debts (-€8,522)
- Tangible fixed assets -€7,158
down €7,158 (-26.6%), from €26,901 to €19,743
of which Furniture and vehicles: -€5,667
- Receivables within one year +€6,244
up €6,244 (+89.7%), from €6,963 to €13,207
- Stocks and contracts -€3,143
down €3,143 (-17.4%), from €18,051 to €14,908
- Debts after one year -€12,368
down €12,368 (-54.8%), from €22,588 to €10,220
- Trade debts -€8,522
down €8,522 (-25.7%), from €33,143 to €24,621
- Tax, wage and social debts +€2,427
up €2,427 (+86.1%), from €2,819 to €5,246
of which Taxes: +€2,309
- Purchases and services -€7,091
down €7,091 (-5.0%), from €142,795 to €135,704
- Turnover -€4,253
down €4,253 (-2.3%), from €184,933 to €180,680
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €98,141 | €79,925 | -€18,216 | -18.6% |
| Fixed assets | 21/28 | €26,901 | €19,743 | -€7,158 | -26.6% |
| Tangible fixed assets | 22/27 | €26,901 | €19,743 | -€7,158 | -26.6% |
| Plant, machinery and equipment | 23 | €6,227 | €4,736 | -€1,491 | -23.9% |
| Furniture and vehicles | 24 | €20,674 | €15,007 | -€5,667 | -27.4% |
| Current assets | 29/58 | €71,240 | €60,182 | -€11,058 | -15.5% |
| Stocks and contracts in progress | 3 | €18,051 | €14,908 | -€3,143 | -17.4% |
| Stocks | 30/36 | €18,051 | €14,908 | -€3,143 | -17.4% |
| Amounts receivable within one year | 40/41 | €6,963 | €13,207 | +€6,244 | +89.7% |
| Trade receivables | 40 | €6,963 | €13,207 | +€6,244 | +89.7% |
| Cash at bank and in hand | 54/58 | €46,226 | €32,067 | -€14,159 | -30.6% |
| Total equity and liabilities | 10/49 | €98,141 | €79,925 | -€18,216 | -18.6% |
| Equity | 10/15 | €39,591 | €39,838 | +€247 | +0.6% |
| Contributions | 10/11 | €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 | €19,131 | €19,378 | +€247 | +1.3% |
| Amounts payable | 17/49 | €58,550 | €40,087 | -€18,463 | -31.5% |
| Amounts payable after more than one year | 17 | €22,588 | €10,220 | -€12,368 | -54.8% |
| Financial debts | 170/4 | €22,588 | €10,220 | -€12,368 | -54.8% |
| Amounts payable within one year | 42/48 | €35,962 | €29,867 | -€6,095 | -16.9% |
| Trade debts | 44 | €33,143 | €24,621 | -€8,522 | -25.7% |
| Suppliers | 440/4 | €33,143 | €24,621 | -€8,522 | -25.7% |
| Taxes, remuneration and social security | 45 | €2,819 | €5,246 | +€2,427 | +86.1% |
| Taxes | 450/3 | €433 | €2,742 | +€2,309 | +533.3% |
| Remuneration and social security | 454/9 | €2,386 | €2,504 | +€118 | +4.9% |
| Turnover | 70 | €184,933 | €180,680 | -€4,253 | -2.3% |
| Non-recurring operating income | 76A | €3,197 | €237 | -€2,960 | -92.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €142,795 | €135,704 | -€7,091 | -5.0% |
| Remuneration, social security and pensions | 62 | €33,260 | €34,033 | +€773 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,779 | €10,146 | +€367 | +3.8% |
| Other operating charges | 640/8 | €979 | €437 | -€542 | -55.4% |
| Gross operating margin | 9900 | €45,335 | €45,213 | -€122 | -0.3% |
| Operating profit (loss) | 9901 | €1,317 | €597 | -€720 | -54.7% |
| Financial charges | 65/66B | €479 | €258 | -€221 | -46.1% |
| Recurring financial charges | 65 | €479 | €258 | -€221 | -46.1% |
| Profit (loss) for the period before taxes | 9903 | €838 | €339 | -€499 | -59.5% |
| Income taxes | 67/77 | €626 | €92 | -€534 | -85.3% |
| Profit (loss) for the period | 9904 | €212 | €247 | +€35 | +16.5% |
| Transfer from tax-exempt reserves | 789 | - | €0 | = | |
| Transfer to tax-exempt reserves | 689 | - | €0 | = | |
| Profit (loss) for the period to be appropriated | 9905 | €212 | €247 | +€35 | +16.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.