P95 HoldCo: 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
P95 HoldCo
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€85,062
2024 · -€515,593+€430,531
Equity
€83.7m
2024 · €35.3m+€48.4m
Cash
€409,107
2024 · €227,924+€181,183
Balance sheet total
€83.9m
2024 · €35.5m+€48.4m
Largest movements
Assets
- Financial fixed assets +€48.5m
up €48.5m (+148%), from €32.7m to €81.2m
Equity and liabilities
- Contributions +€46.9m
up €46.9m (+131%), from €35.8m to €82.7m
- Reserves +€1.7m
new in 2025: €1.7m
Income statement
- Services and other goods -€1.1m
down €1.1m (-55.4%), from €2.0m to €895,087
- Turnover -€344,727
down €344,727 (-30.6%), from €1.1m to €781,244
- Other operating income -€301,003
down €301,003 (-100%), from €301,003 to €0
- Financial income -€42,476
down €42,476 (-58.2%), from €72,966 to €30,490
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
-€515,593
Turnover
-€344,727
Other operating income
-€301,003
Services and other goods
+€1.1m
Other operating charges
+€372
Financial income
-€42,476
Financial charges
+€7,733
Result 2025
-€85,062
raises the resultlowers the result
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.
From operations
+€591,183
Investment
-€48.9m
Financing
+€48.5m
Cash 2024
€227,924
From operations (derived)
+€591,183
Net result for the year
-€85,062
Receivables within one year
+€715,616
Smaller working-capital items
-€39,371
Investment (derived)
-€48.9m
Investment in fixed assets (net)
-€48.5m
Current investments
-€410,000
Financing
+€48.5m
Contributions, distributions and other
+€48.5m
Cash 2025
€409,107
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €35,465,745 | €83,865,601 | +€48.4m | +136% |
| Fixed assets | 21/28 | €32,700,000 | €81,224,444 | +€48.5m | +148% |
| Financial fixed assets | 28 | €32,700,000 | €81,224,444 | +€48.5m | +148% |
| Affiliated companies | 280/1 | €32,700,000 | €81,224,444 | +€48.5m | +148% |
| Participating interests | 280 | €32,700,000 | €81,224,444 | +€48.5m | +148% |
| Current assets | 29/58 | €2,765,745 | €2,641,157 | -€124,588 | -4.5% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €1,283,697 | €568,082 | -€715,616 | -55.7% |
| Trade receivables | 40 | €711,096 | €528,645 | -€182,451 | -25.7% |
| Other amounts receivable | 41 | €572,602 | €39,436 | -€533,165 | -93.1% |
| Current investments | 50/53 | €1,250,000 | €1,660,000 | +€410,000 | +32.8% |
| Own shares | 50 | - | €1,660,000 | +€1.7m | |
| Other investments | 51/53 | €1,250,000 | €0 | -€1.3m | -100% |
| Cash at bank and in hand | 54/58 | €227,924 | €409,107 | +€181,183 | +79.5% |
| Deferred charges and accrued income | 490/1 | €4,124 | €3,968 | -€156 | -3.8% |
| Total equity and liabilities | 10/49 | €35,465,745 | €83,865,601 | +€48.4m | +136% |
| Equity | 10/15 | €35,284,407 | €83,723,789 | +€48.4m | +137% |
| Contributions | 10/11 | €35,800,000 | €82,664,444 | +€46.9m | +131% |
| Reserves | 13 | - | €1,660,000 | +€1.7m | |
| Non-distributable reserves | 130/1 | - | €1,660,000 | +€1.7m | |
| Own shares acquired | 1312 | - | €1,660,000 | +€1.7m | |
| Profit (loss) carried forward | 14 | -€515,593 | -€600,655 | -€85,062 | -16.5% |
| Amounts payable | 17/49 | €181,339 | €141,812 | -€39,526 | -21.8% |
| Amounts payable within one year | 42/48 | €181,339 | €141,812 | -€39,526 | -21.8% |
| Trade debts | 44 | €165,479 | €141,812 | -€23,667 | -14.3% |
| Suppliers | 440/4 | €165,479 | €141,812 | -€23,667 | -14.3% |
| Taxes, remuneration and social security | 45 | €15,859 | €0 | -€15,859 | -100% |
| Taxes | 450/3 | €15,859 | €0 | -€15,859 | -100% |
| Operating income | 70/76A | €1,426,973 | €781,244 | -€645,730 | -45.3% |
| Turnover | 70 | €1,125,970 | €781,244 | -€344,727 | -30.6% |
| Other operating income | 74 | €301,003 | €0 | -€301,003 | -100% |
| Operating charges | 60/66A | €2,006,491 | €895,487 | -€1.1m | -55.4% |
| Services and other goods | 61 | €2,005,719 | €895,087 | -€1.1m | -55.4% |
| Other operating charges | 640/8 | €772 | €400 | -€372 | -48.2% |
| Operating profit (loss) | 9901 | -€579,517 | -€114,243 | +€465,274 | +80.3% |
| Financial income | 75/76B | €72,966 | €30,490 | -€42,476 | -58.2% |
| Recurring financial income | 75 | €72,966 | €30,490 | -€42,476 | -58.2% |
| Income from financial fixed assets | 750 | €7,366 | €6,766 | -€600 | -8.1% |
| Income from current assets | 751 | €58,841 | €23,724 | -€35,117 | -59.7% |
| Other financial income | 752/9 | €6,760 | €0 | -€6,760 | -100% |
| Financial charges | 65/66B | €9,042 | €1,309 | -€7,733 | -85.5% |
| Recurring financial charges | 65 | €9,042 | €1,309 | -€7,733 | -85.5% |
| Other financial charges | 652/9 | €9,042 | €1,309 | -€7,733 | -85.5% |
| Profit (loss) for the period before taxes | 9903 | -€515,593 | -€85,062 | +€430,531 | +83.5% |
| Profit (loss) for the period | 9904 | -€515,593 | -€85,062 | +€430,531 | +83.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€515,593 | -€85,062 | +€430,531 | +83.5% |
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 22 October 2026 via checked.be.