B.H.D.: 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.
B.H.D.
Largest movements
- Receivables within one year -€17,959
down €17,959 (-59.9%), from €29,994 to €12,035
of which Other amounts receivable: -€14,056
- Tangible fixed assets -€2,206
down €2,206 (-11.1%), from €19,925 to €17,719
of which Furniture and vehicles: -€1,325
- Deferred charges and accrued income +€1,747
up €1,747 (+1,092%), from €160 to €1,907
- Trade debts -€9,742
down €9,742 (-92.4%), from €10,539 to €797
- Current portion of long-term debt -€5,763
down €5,763 (-82.9%), from €6,954 to €1,191
- Reserves -€2,054
down €2,054 (-5.0%), from €40,800 to €38,746
- Debts after one year -€1,191
down €1,191 (-100%), from €1,191 to €0
- Gross operating margin -€15,419
down €15,419 (-40.5%), from €38,075 to €22,656
- Taxes -€4,891
down €4,891 (-54.9%), from €8,915 to €4,024
- Other operating charges +€838
up €838 (+50.4%), from €1,663 to €2,501
- Depreciation +€793
up €793 (+13.6%), from €5,823 to €6,616
- Financial income -€654
down €654 (-83.2%), from €786 to €132
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 | €94,708 | €76,487 | -€18,221 | -19.2% |
| Fixed assets | 21/28 | €19,925 | €17,719 | -€2,206 | -11.1% |
| Tangible fixed assets | 22/27 | €19,925 | €17,719 | -€2,206 | -11.1% |
| Plant, machinery and equipment | 23 | €6,272 | €5,391 | -€881 | -14.0% |
| Furniture and vehicles | 24 | €13,653 | €12,328 | -€1,325 | -9.7% |
| Current assets | 29/58 | €74,783 | €58,768 | -€16,015 | -21.4% |
| Stocks and contracts in progress | 3 | €345 | €640 | +€295 | +85.5% |
| Stocks | 30/36 | €345 | €640 | +€295 | +85.5% |
| Amounts receivable within one year | 40/41 | €29,994 | €12,035 | -€17,959 | -59.9% |
| Trade receivables | 40 | €14,173 | €10,270 | -€3,903 | -27.5% |
| Other amounts receivable | 41 | €15,821 | €1,764 | -€14,056 | -88.8% |
| Cash at bank and in hand | 54/58 | €44,284 | €44,186 | -€98 | -0.2% |
| Deferred charges and accrued income | 490/1 | €160 | €1,907 | +€1,747 | +1,092% |
| Total equity and liabilities | 10/49 | €94,708 | €76,487 | -€18,221 | -19.2% |
| Equity | 10/15 | €60,800 | €58,746 | -€2,054 | -3.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €40,800 | €38,746 | -€2,054 | -5.0% |
| Distributable reserves | 133 | €40,800 | €38,746 | -€2,054 | -5.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €33,907 | €17,741 | -€16,166 | -47.7% |
| Amounts payable after more than one year | 17 | €1,191 | €0 | -€1,191 | -100% |
| Financial debts | 170/4 | €1,191 | €0 | -€1,191 | -100% |
| Amounts payable within one year | 42/48 | €32,717 | €17,710 | -€15,006 | -45.9% |
| Current portion of amounts payable after more than one year | 42 | €6,954 | €1,191 | -€5,763 | -82.9% |
| Trade debts | 44 | €10,539 | €797 | -€9,742 | -92.4% |
| Suppliers | 440/4 | €10,539 | €797 | -€9,742 | -92.4% |
| Taxes, remuneration and social security | 45 | €3,894 | €3,894 | = | 0.0% |
| Taxes | 450/3 | €3,894 | €3,894 | = | 0.0% |
| Other amounts payable | 47/48 | €11,330 | €11,829 | +€499 | +4.4% |
| Accrued charges and deferred income | 492/3 | €0 | €31 | +€31 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,823 | €6,616 | +€793 | +13.6% |
| Other operating charges | 640/8 | €1,663 | €2,501 | +€838 | +50.4% |
| Gross operating margin | 9900 | €38,075 | €22,656 | -€15,419 | -40.5% |
| Operating profit (loss) | 9901 | €30,589 | €13,539 | -€17,050 | -55.7% |
| Financial income | 75/76B | €786 | €132 | -€654 | -83.2% |
| Recurring financial income | 75 | €786 | €132 | -€654 | -83.2% |
| Financial charges | 65/66B | €1,470 | €1,687 | +€217 | +14.8% |
| Recurring financial charges | 65 | €1,470 | €1,687 | +€217 | +14.8% |
| Profit (loss) for the period before taxes | 9903 | €29,905 | €11,984 | -€17,921 | -59.9% |
| Income taxes | 67/77 | €8,915 | €4,024 | -€4,891 | -54.9% |
| Profit (loss) for the period | 9904 | €20,990 | €7,961 | -€13,029 | -62.1% |
| Profit (loss) for the period to be appropriated | 9905 | €20,990 | €7,961 | -€13,029 | -62.1% |
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.