Holvoet: 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
Holvoet
NACE 46.841, Wholesale trade
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€705,776
2024 · €512,264+€193,512
Equity
€17.0m
2024 · €17.3m-€294,224
Cash
€721,395
2024 · €637,095+€84,300
Balance sheet total
€25.8m
2024 · €27.2m-€1.4m
Largest movements
Assets
- Current investments -€8.1m
down €8.1m (-94.1%), from €8.6m to €507,387
- Receivables within one year +€6.0m
up €6.0m (+46.6%), from €13.0m to €19.0m
of which Other amounts receivable: +€5.1m
- Stocks and contracts +€770,240
up €770,240 (+17.8%), from €4.3m to €5.1m
Equity and liabilities
- Other debts -€1.2m
down €1.2m (-16.8%), from €7.3m to €6.1m
- Reserves -€294,224
down €294,224 (-1.8%), from €16.5m to €16.2m
of which Distributable reserves: -€292,241
Income statement
No income-statement line moved by more than 1% of the activity.
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
€512,264
Turnover
-€240,029
Other operating income
+€282,174
Goods and materials
+€265,639
Services and other goods
+€264,946
Staff costs
-€114,898
Depreciation
-€57,229
Write-downs
-€8,889
Other operating charges
+€15,984
Other operating items
-€505
Financial income
-€189,839
Financial charges
+€56,805
Taxes
-€80,307
Deferred taxes and other
-€340
Result 2025
€705,776
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.
From operations
-€7.0m
Investment
+€8.1m
Financing
-€1.0m
Cash 2024
€637,095
From operations (derived)
-€7.0m
Net result for the year
+€705,776
Depreciation
+€222,915
Stocks and contracts
-€770,240
Receivables within one year
-€6.0m
Smaller working-capital items
+€2,900
Trade debts
-€70,086
Tax, wage and social debts
+€174,424
Other debts
-€1.2m
Investment (derived)
+€8.1m
Investment in fixed assets (net)
-€46,119
Current investments
+€8.1m
Financing
-€1.0m
Contributions, distributions and other
-€1.0m
Cash 2025
€721,395
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €27,202,585 | €25,786,057 | -€1.4m | -5.2% |
| Fixed assets | 21/28 | €628,808 | €452,012 | -€176,796 | -28.1% |
| Tangible fixed assets | 22/27 | €624,387 | €447,591 | -€176,796 | -28.3% |
| Plant, machinery and equipment | 23 | €459,305 | €316,722 | -€142,583 | -31.0% |
| Furniture and vehicles | 24 | €118,386 | €96,573 | -€21,813 | -18.4% |
| Other tangible fixed assets | 26 | €46,695 | €34,295 | -€12,400 | -26.6% |
| Financial fixed assets | 28 | €4,421 | €4,421 | = | 0.0% |
| Other financial fixed assets | 284/8 | €4,421 | €4,421 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €4,421 | €4,421 | = | 0.0% |
| Current assets | 29/58 | €26,573,778 | €25,334,045 | -€1.2m | -4.7% |
| Stocks and contracts in progress | 3 | €4,330,212 | €5,100,453 | +€770,240 | +17.8% |
| Stocks | 30/36 | €4,330,212 | €5,100,453 | +€770,240 | +17.8% |
| Goods purchased for resale | 34 | €4,330,212 | €5,100,453 | +€770,240 | +17.8% |
| Amounts receivable within one year | 40/41 | €12,960,109 | €18,998,112 | +€6.0m | +46.6% |
| Trade receivables | 40 | €4,075,457 | €4,998,660 | +€923,203 | +22.7% |
| Other amounts receivable | 41 | €8,884,652 | €13,999,451 | +€5.1m | +57.6% |
| Current investments | 50/53 | €8,636,100 | €507,387 | -€8.1m | -94.1% |
| Other investments | 51/53 | €8,636,100 | €507,387 | -€8.1m | -94.1% |
| Cash at bank and in hand | 54/58 | €637,095 | €721,395 | +€84,300 | +13.2% |
| Deferred charges and accrued income | 490/1 | €10,261 | €6,699 | -€3,562 | -34.7% |
| Total equity and liabilities | 10/49 | €27,202,585 | €25,786,057 | -€1.4m | -5.2% |
| Equity | 10/15 | €17,250,776 | €16,956,552 | -€294,224 | -1.7% |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Capital | 10 | €750,000 | €750,000 | = | 0.0% |
| Issued capital | 100 | €750,000 | €750,000 | = | 0.0% |
| Reserves | 13 | €16,500,776 | €16,206,552 | -€294,224 | -1.8% |
| Non-distributable reserves | 130/1 | €75,000 | €75,000 | = | 0.0% |
| Legal reserve | 130 | €75,000 | €75,000 | = | 0.0% |
| Other | 1319 | €0 | - | = | |
| Tax-exempt reserves | 132 | €508,358 | €506,375 | -€1,983 | -0.4% |
| Distributable reserves | 133 | €15,917,417 | €15,625,176 | -€292,241 | -1.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €980 | €317 | -€663 | -67.6% |
| Deferred taxes | 168 | €980 | €317 | -€663 | -67.6% |
| Amounts payable | 17/49 | €9,950,830 | €8,829,188 | -€1.1m | -11.3% |
| Amounts payable within one year | 42/48 | €9,950,830 | €8,829,188 | -€1.1m | -11.3% |
| Trade debts | 44 | €1,762,614 | €1,692,528 | -€70,086 | -4.0% |
| Suppliers | 440/4 | €1,762,614 | €1,692,528 | -€70,086 | -4.0% |
| Taxes, remuneration and social security | 45 | €909,859 | €1,084,283 | +€174,424 | +19.2% |
| Taxes | 450/3 | €390,745 | €602,231 | +€211,486 | +54.1% |
| Remuneration and social security | 454/9 | €519,114 | €482,052 | -€37,062 | -7.1% |
| Other amounts payable | 47/48 | €7,278,358 | €6,052,377 | -€1.2m | -16.8% |
| Operating income | 70/76A | €30,931,859 | €30,973,500 | +€41,640 | +0.1% |
| Turnover | 70 | €30,692,957 | €30,452,928 | -€240,029 | -0.8% |
| Other operating income | 74 | €238,398 | €520,571 | +€282,174 | +118.4% |
| Non-recurring operating income | 76A | €505 | €0 | -€505 | -100.0% |
| Operating charges | 60/66A | €30,518,382 | €30,152,829 | -€365,553 | -1.2% |
| Goods for resale, raw materials and consumables | 60 | €22,858,298 | €22,592,659 | -€265,639 | -1.2% |
| Purchases | 600/8 | €21,872,317 | €23,362,900 | +€1.5m | +6.8% |
| Change in stocks: decrease (increase) | 609 | €985,981 | -€770,240 | -€1.8m | |
| Services and other goods | 61 | €3,506,338 | €3,241,392 | -€264,946 | -7.6% |
| Remuneration, social security and pensions | 62 | €3,913,244 | €4,028,141 | +€114,898 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €165,686 | €222,915 | +€57,229 | +34.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€15,412 | -€6,522 | +€8,889 | +57.7% |
| Other operating charges | 640/8 | €90,229 | €74,244 | -€15,984 | -17.7% |
| Operating profit (loss) | 9901 | €413,477 | €820,670 | +€407,193 | +98.5% |
| Financial income | 75/76B | €503,798 | €313,959 | -€189,839 | -37.7% |
| Recurring financial income | 75 | €503,798 | €313,959 | -€189,839 | -37.7% |
| Income from current assets | 751 | €357,865 | €169,418 | -€188,446 | -52.7% |
| Other financial income | 752/9 | €145,934 | €144,541 | -€1,393 | -1.0% |
| Financial charges | 65/66B | €374,053 | €317,248 | -€56,805 | -15.2% |
| Recurring financial charges | 65 | €374,053 | €317,248 | -€56,805 | -15.2% |
| Debt charges | 650 | €365,852 | €308,055 | -€57,797 | -15.8% |
| Other financial charges | 652/9 | €8,202 | €9,193 | +€992 | +12.1% |
| Profit (loss) for the period before taxes | 9903 | €543,222 | €817,381 | +€274,159 | +50.5% |
| Transfer from deferred taxes | 780 | €1,002 | €663 | -€340 | -33.9% |
| Income taxes | 67/77 | €31,961 | €112,268 | +€80,307 | +251.3% |
| Taxes | 670/3 | €31,961 | €112,268 | +€80,307 | +251.3% |
| Profit (loss) for the period | 9904 | €512,264 | €705,776 | +€193,512 | +37.8% |
| Transfer from tax-exempt reserves | 789 | €2,879 | €1,983 | -€896 | -31.1% |
| Profit (loss) for the period to be appropriated | 9905 | €515,143 | €707,759 | +€192,616 | +37.4% |
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 12 October 2026 via checked.be.