HOLVAN: 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.
HOLVAN
Largest movements
- Current investments -€100,000
down €100,000 (-47.8%), from €209,034 to €109,034
- Cash +€53,676
up €53,676 (+19.8%), from €271,685 to €325,361
mainly Current investments (+€100,000) and Depreciation (+€36,377)
- Receivables within one year +€26,938
up €26,938 (+185.1%), from €14,550 to €41,488
of which Other amounts receivable: +€17,694
- Tangible fixed assets -€25,590
down €25,590 (-6.2%), from €413,908 to €388,318
of which Plant, machinery and equipment: -€16,970
- Trade debts -€25,764
down €25,764 (-80.5%), from €31,994 to €6,230
- Gross operating margin -€86,444
down €86,444 (-70.9%), from €121,967 to €35,523
- Taxes -€25,264
down €25,264 (-81.7%), from €30,918 to €5,654
- Other operating charges +€6,411
up €6,411 (+99.0%), from €6,473 to €12,884
- Depreciation +€4,700
up €4,700 (+14.8%), from €31,676 to €36,377
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 | €909,677 | €864,701 | -€44,976 | -4.9% |
| Fixed assets | 21/28 | €414,408 | €388,818 | -€25,590 | -6.2% |
| Tangible fixed assets | 22/27 | €413,908 | €388,318 | -€25,590 | -6.2% |
| Land and buildings | 22 | €360,773 | €352,153 | -€8,620 | -2.4% |
| Plant, machinery and equipment | 23 | €53,135 | €36,165 | -€16,970 | -31.9% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €495,269 | €475,883 | -€19,386 | -3.9% |
| Amounts receivable within one year | 40/41 | €14,550 | €41,488 | +€26,938 | +185.1% |
| Trade receivables | 40 | €9,481 | €18,725 | +€9,244 | +97.5% |
| Other amounts receivable | 41 | €5,070 | €22,764 | +€17,694 | +349.0% |
| Current investments | 50/53 | €209,034 | €109,034 | -€100,000 | -47.8% |
| Cash at bank and in hand | 54/58 | €271,685 | €325,361 | +€53,676 | +19.8% |
| Total equity and liabilities | 10/49 | €909,677 | €864,701 | -€44,976 | -4.9% |
| Equity | 10/15 | €786,894 | €781,334 | -€5,559 | -0.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €724,894 | €719,334 | -€5,559 | -0.8% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €200,074 | €181,715 | -€18,359 | -9.2% |
| Distributable reserves | 133 | €518,619 | €531,419 | +€12,800 | +2.5% |
| Provisions and deferred taxes | 16 | €84,041 | €76,330 | -€7,712 | -9.2% |
| Deferred taxes | 168 | €84,041 | €76,330 | -€7,712 | -9.2% |
| Amounts payable | 17/49 | €38,742 | €7,037 | -€31,705 | -81.8% |
| Amounts payable within one year | 42/48 | €38,742 | €7,037 | -€31,705 | -81.8% |
| Trade debts | 44 | €31,994 | €6,230 | -€25,764 | -80.5% |
| Suppliers | 440/4 | €31,994 | €6,230 | -€25,764 | -80.5% |
| Taxes, remuneration and social security | 45 | €6,748 | €807 | -€5,941 | -88.0% |
| Taxes | 450/3 | €6,748 | €807 | -€5,941 | -88.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,676 | €36,377 | +€4,700 | +14.8% |
| Other operating charges | 640/8 | €6,473 | €12,884 | +€6,411 | +99.0% |
| Gross operating margin | 9900 | €121,967 | €35,523 | -€86,444 | -70.9% |
| Operating profit (loss) | 9901 | €83,817 | -€13,738 | -€97,555 | |
| Financial income | 75/76B | €7,005 | €6,268 | -€737 | -10.5% |
| Recurring financial income | 75 | €7,005 | €6,268 | -€737 | -10.5% |
| Financial charges | 65/66B | €77 | €147 | +€70 | +90.4% |
| Recurring financial charges | 65 | €77 | €147 | +€70 | +90.4% |
| Profit (loss) for the period before taxes | 9903 | €90,745 | -€7,617 | -€98,362 | |
| Transfer from deferred taxes | 780 | €7,339 | €7,712 | +€372 | +5.1% |
| Income taxes | 67/77 | €30,918 | €5,654 | -€25,264 | -81.7% |
| Profit (loss) for the period | 9904 | €67,167 | -€5,559 | -€72,726 | |
| Transfer from tax-exempt reserves | 789 | €17,473 | €18,359 | +€886 | +5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €84,640 | €12,800 | -€71,840 | -84.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.