HOLVOET TOM: 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.
HOLVOET TOM
Largest movements
- Cash +€72,961
up €72,961 (+78.8%), from €92,586 to €165,547
mainly Net result for the year (+€185,630) and Other debts (+€45,167)
- Tangible fixed assets -€17,221
down €17,221 (-25.4%), from €67,888 to €50,667
of which Other tangible fixed assets: -€9,172
- Current investments +€7,995
up €7,995 (+26.4%), from €30,249 to €38,244
- Other debts +€45,167
up €45,167 (+498%), from €9,066 to €54,232
- Provisions +€35,428
new in 2025: €35,428
- Reserves -€14,370
down €14,370 (-5.2%), from €274,403 to €260,033
- Trade debts -€6,496
down €6,496 (-99.4%), from €6,537 to €41
- Tax, wage and social debts +€5,303
up €5,303 (+111%), from €4,781 to €10,084
of which Taxes: +€5,728
- Provisions +€35,428
new in 2025: €35,428
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €297,875 | €364,458 | +€66,583 | +22.4% |
| Fixed assets | 21/28 | €67,888 | €50,667 | -€17,221 | -25.4% |
| Tangible fixed assets | 22/27 | €67,888 | €50,667 | -€17,221 | -25.4% |
| Plant, machinery and equipment | 23 | €7,588 | €4,347 | -€3,241 | -42.7% |
| Furniture and vehicles | 24 | €14,976 | €10,168 | -€4,808 | -32.1% |
| Other tangible fixed assets | 26 | €45,324 | €36,152 | -€9,172 | -20.2% |
| Current assets | 29/58 | €229,987 | €313,791 | +€83,804 | +36.4% |
| Amounts receivable within one year | 40/41 | €9,995 | €10,522 | +€528 | +5.3% |
| Trade receivables | 40 | €594 | €10,522 | +€9,928 | +1,671% |
| Other amounts receivable | 41 | €9,400 | €0 | -€9,400 | -100% |
| Current investments | 50/53 | €30,249 | €38,244 | +€7,995 | +26.4% |
| Cash at bank and in hand | 54/58 | €92,586 | €165,547 | +€72,961 | +78.8% |
| Deferred charges and accrued income | 490/1 | €97,157 | €99,478 | +€2,321 | +2.4% |
| Total equity and liabilities | 10/49 | €297,875 | €364,458 | +€66,583 | +22.4% |
| Equity | 10/15 | €275,403 | €261,033 | -€14,370 | -5.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €274,403 | €260,033 | -€14,370 | -5.2% |
| Distributable reserves | 133 | €274,403 | €260,033 | -€14,370 | -5.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | - | €35,428 | +€35,428 | |
| Provisions for liabilities and charges | 160/5 | - | €35,428 | +€35,428 | |
| Other liabilities and charges | 164/5 | - | €35,428 | +€35,428 | |
| Amounts payable | 17/49 | €22,472 | €67,997 | +€45,525 | +203% |
| Amounts payable within one year | 42/48 | €21,540 | €66,143 | +€44,603 | +207% |
| Financial debts | 43 | €1,156 | €1,786 | +€630 | +54.5% |
| Credit institutions | 430/8 | €1,156 | €1,786 | +€630 | +54.5% |
| Trade debts | 44 | €6,537 | €41 | -€6,496 | -99.4% |
| Suppliers | 440/4 | €6,537 | €41 | -€6,496 | -99.4% |
| Taxes, remuneration and social security | 45 | €4,781 | €10,084 | +€5,303 | +111% |
| Taxes | 450/3 | €2,381 | €8,109 | +€5,728 | +241% |
| Remuneration and social security | 454/9 | €2,400 | €1,975 | -€425 | -17.7% |
| Other amounts payable | 47/48 | €9,066 | €54,232 | +€45,167 | +498% |
| Accrued charges and deferred income | 492/3 | €931 | €1,854 | +€922 | +99.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,641 | €17,221 | +€580 | +3.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €35,428 | +€35,428 | |
| Other operating charges | 640/8 | €718 | €610 | -€108 | -15.1% |
| Gross operating margin | 9900 | €314,265 | €312,887 | -€1,377 | -0.4% |
| Operating profit (loss) | 9901 | €296,906 | €259,629 | -€37,277 | -12.6% |
| Financial income | 75/76B | €2 | €328 | +€326 | +15,610% |
| Recurring financial income | 75 | €2 | €328 | +€326 | +15,610% |
| Financial charges | 65/66B | €2,205 | €4,123 | +€1,918 | +87.0% |
| Recurring financial charges | 65 | €2,205 | €4,123 | +€1,918 | +87.0% |
| Profit (loss) for the period before taxes | 9903 | €294,702 | €255,834 | -€38,868 | -13.2% |
| Income taxes | 67/77 | €70,600 | €70,204 | -€396 | -0.6% |
| Profit (loss) for the period | 9904 | €224,103 | €185,630 | -€38,472 | -17.2% |
| Profit (loss) for the period to be appropriated | 9905 | €224,103 | €185,630 | -€38,472 | -17.2% |
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 17 October 2026 via checked.be.