HOLYWATER: 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.
HOLYWATER
Largest movements
- Cash +€65,206
up €65,206 (+514%), from €12,675 to €77,881
mainly Debts after one year (+€78,594) and Current portion of long-term debt (+€15,875)
- Tangible fixed assets +€32,178
up €32,178 (+42.3%), from €75,990 to €108,168
- Receivables within one year +€9,249
up €9,249 (+311%), from €2,974 to €12,224
of which Trade receivables: +€7,707
- Financial fixed assets +€6,000
up €6,000 (+97.1%), from €6,180 to €12,180
- Stocks and contracts +€5,451
up €5,451 (+53.4%), from €10,204 to €15,655
- Debts after one year +€78,594
up €78,594 (+173%), from €45,506 to €124,100
- Current portion of long-term debt +€15,875
up €15,875 (+205%), from €7,728 to €23,603
- Profit (loss) carried forward +€15,386
up €15,386 (+118%), from €13,009 to €28,395
- Tax, wage and social debts +€10,217
up €10,217 (+82.8%), from €12,343 to €22,560
of which Remuneration and social security: +€6,071
- Other debts -€4,078
down €4,078 (-17.0%), from €23,935 to €19,857
- Gross operating margin +€87,354
up €87,354 (+134%), from €65,265 to €152,618
- Staff costs +€63,231
up €63,231 (+141%), from €44,844 to €108,076
- Depreciation +€4,453
up €4,453 (+41.2%), from €10,803 to €15,255
- Financial charges +€4,002
up €4,002 (+117%), from €3,424 to €7,426
- Taxes +€1,932
up €1,932 (+7,464%), from €26 to €1,958
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 | €113,415 | €233,955 | +€120,540 | +106% |
| Fixed assets | 21/28 | €82,170 | €120,348 | +€38,178 | +46.5% |
| Tangible fixed assets | 22/27 | €75,990 | €108,168 | +€32,178 | +42.3% |
| Plant, machinery and equipment | 23 | €6,568 | €12,267 | +€5,700 | +86.8% |
| Furniture and vehicles | 24 | €10,856 | €12,564 | +€1,707 | +15.7% |
| Leasing and similar rights | 25 | - | €10,552 | +€10,552 | |
| Other tangible fixed assets | 26 | €58,566 | €72,785 | +€14,219 | +24.3% |
| Financial fixed assets | 28 | €6,180 | €12,180 | +€6,000 | +97.1% |
| Current assets | 29/58 | €31,245 | €113,607 | +€82,362 | +264% |
| Stocks and contracts in progress | 3 | €10,204 | €15,655 | +€5,451 | +53.4% |
| Stocks | 30/36 | €10,204 | €15,655 | +€5,451 | +53.4% |
| Amounts receivable within one year | 40/41 | €2,974 | €12,224 | +€9,249 | +311% |
| Trade receivables | 40 | - | €7,707 | +€7,707 | |
| Other amounts receivable | 41 | €2,974 | €4,517 | +€1,542 | +51.9% |
| Cash at bank and in hand | 54/58 | €12,675 | €77,881 | +€65,206 | +514% |
| Deferred charges and accrued income | 490/1 | €5,392 | €7,847 | +€2,456 | +45.5% |
| Total equity and liabilities | 10/49 | €113,415 | €233,955 | +€120,540 | +106% |
| Equity | 10/15 | €19,209 | €34,595 | +€15,386 | +80.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,009 | €28,395 | +€15,386 | +118% |
| Amounts payable | 17/49 | €94,206 | €199,360 | +€105,154 | +112% |
| Amounts payable after more than one year | 17 | €45,506 | €124,100 | +€78,594 | +173% |
| Financial debts | 170/4 | €45,506 | €124,100 | +€78,594 | +173% |
| Amounts payable within one year | 42/48 | €48,675 | €73,477 | +€24,802 | +51.0% |
| Current portion of amounts payable after more than one year | 42 | €7,728 | €23,603 | +€15,875 | +205% |
| Trade debts | 44 | €4,668 | €7,456 | +€2,788 | +59.7% |
| Suppliers | 440/4 | €4,668 | €7,456 | +€2,788 | +59.7% |
| Taxes, remuneration and social security | 45 | €12,343 | €22,560 | +€10,217 | +82.8% |
| Taxes | 450/3 | €5,237 | €9,383 | +€4,146 | +79.2% |
| Remuneration and social security | 454/9 | €7,105 | €13,177 | +€6,071 | +85.4% |
| Other amounts payable | 47/48 | €23,935 | €19,857 | -€4,078 | -17.0% |
| Accrued charges and deferred income | 492/3 | €25 | €1,783 | +€1,758 | +6,915% |
| Remuneration, social security and pensions | 62 | €44,844 | €108,076 | +€63,231 | +141% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,803 | €15,255 | +€4,453 | +41.2% |
| Other operating charges | 640/8 | €5,822 | €4,523 | -€1,299 | -22.3% |
| Non-recurring operating charges | 66A | €1,704 | - | -€1,704 | |
| Gross operating margin | 9900 | €65,265 | €152,618 | +€87,354 | +134% |
| Operating profit (loss) | 9901 | €2,091 | €24,764 | +€22,672 | +1,084% |
| Financial income | 75/76B | €242 | €6 | -€236 | -97.5% |
| Recurring financial income | 75 | €242 | €6 | -€236 | -97.5% |
| Financial charges | 65/66B | €3,424 | €7,426 | +€4,002 | +117% |
| Recurring financial charges | 65 | €3,424 | €7,426 | +€4,002 | +117% |
| Profit (loss) for the period before taxes | 9903 | -€1,091 | €17,344 | +€18,434 | |
| Income taxes | 67/77 | €26 | €1,958 | +€1,932 | +7,464% |
| Profit (loss) for the period | 9904 | -€1,116 | €15,386 | +€16,503 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,116 | €15,386 | +€16,503 |
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 15 October 2026 via checked.be.