S - Holder: 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.
S - Holder
Largest movements
- Cash +€70,770
up €70,770 (+506%), from €13,977 to €84,747
mainly Net result for the year (+€129,283) and Depreciation (+€11,128)
- Tangible fixed assets -€11,128
down €11,128 (-33.5%), from €33,243 to €22,115
of which Land and buildings: -€11,128
- Receivables within one year -€6,740
down €6,740 (-99.9%), from €6,750 to €10
of which Trade receivables: -€6,750
- Reserves +€81,783
up €81,783 (+328%), from €24,899 to €106,682
- Profit (loss) carried forward +€39,505
up €39,505, from -€39,505 to €0
- Debts after one year -€24,160
down €24,160 (-100%), from €24,160 to €0
- Other debts -€23,205
down €23,205 (-100%), from €23,205 to €0
- Contributions -€18,549
down €18,549 (-100.0%), from €18,550 to €1
- Gross operating margin +€142,963
up €142,963 (+7,267%), from €1,967 to €144,930
- Financial charges -€1,828
down €1,828 (-89.6%), from €2,041 to €213
- Other operating charges +€1,506
up €1,506 (+53.2%), from €2,833 to €4,339
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 | €55,088 | €107,049 | +€51,961 | +94.3% |
| Fixed assets | 21/28 | €33,243 | €22,115 | -€11,128 | -33.5% |
| Tangible fixed assets | 22/27 | €33,243 | €22,115 | -€11,128 | -33.5% |
| Land and buildings | 22 | €33,243 | €22,115 | -€11,128 | -33.5% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €21,845 | €84,935 | +€63,089 | +289% |
| Amounts receivable within one year | 40/41 | €6,750 | €10 | -€6,740 | -99.9% |
| Trade receivables | 40 | €6,750 | €0 | -€6,750 | -100% |
| Other amounts receivable | 41 | - | €10 | +€10 | |
| Cash at bank and in hand | 54/58 | €13,977 | €84,747 | +€70,770 | +506% |
| Deferred charges and accrued income | 490/1 | €1,118 | €178 | -€941 | -84.1% |
| Total equity and liabilities | 10/49 | €55,088 | €107,049 | +€51,961 | +94.3% |
| Equity | 10/15 | €3,943 | €106,683 | +€102,740 | +2,605% |
| Contributions | 10/11 | €18,550 | €1 | -€18,549 | -100.0% |
| Reserves | 13 | €24,899 | €106,682 | +€81,783 | +328% |
| Distributable reserves | 133 | €24,899 | €106,682 | +€81,783 | +328% |
| Profit (loss) carried forward | 14 | -€39,505 | €0 | +€39,505 | |
| Amounts payable | 17/49 | €51,145 | €366 | -€50,779 | -99.3% |
| Amounts payable after more than one year | 17 | €24,160 | €0 | -€24,160 | -100% |
| Other amounts payable | 178/9 | €24,160 | €0 | -€24,160 | -100% |
| Amounts payable within one year | 42/48 | €26,985 | €366 | -€26,618 | -98.6% |
| Trade debts | 44 | €2,008 | €366 | -€1,642 | -81.8% |
| Suppliers | 440/4 | €2,008 | €366 | -€1,642 | -81.8% |
| Taxes, remuneration and social security | 45 | €1,771 | €0 | -€1,771 | -100% |
| Taxes | 450/3 | €1,771 | €0 | -€1,771 | -100% |
| Other amounts payable | 47/48 | €23,205 | €0 | -€23,205 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,540 | €11,128 | -€412 | -3.6% |
| Other operating charges | 640/8 | €2,833 | €4,339 | +€1,506 | +53.2% |
| Gross operating margin | 9900 | €1,967 | €144,930 | +€142,963 | +7,267% |
| Operating profit (loss) | 9901 | -€12,406 | €129,463 | +€141,869 | |
| Financial income | 75/76B | €69 | €33 | -€36 | -52.4% |
| Recurring financial income | 75 | €69 | €33 | -€36 | -52.4% |
| Financial charges | 65/66B | €2,041 | €213 | -€1,828 | -89.6% |
| Recurring financial charges | 65 | €2,041 | €213 | -€1,828 | -89.6% |
| Profit (loss) for the period before taxes | 9903 | -€14,378 | €129,283 | +€143,661 | |
| Income taxes | 67/77 | €18 | €0 | -€18 | -100% |
| Profit (loss) for the period | 9904 | -€14,396 | €129,283 | +€143,679 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,396 | €129,283 | +€143,679 |
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.