B & H TRADNAV: 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 TRADNAV
Largest movements
- Receivables within one year -€2.3m
down €2.3m (-99.5%), from €2.3m to €11,814
of which Trade receivables: -€2.3m
- Cash -€133,882
down €133,882 (-78.1%), from €171,527 to €37,645
mainly Trade debts (-€2.5m) and Other debts (-€30,917)
- Current investments -€47,888
down €47,888 (-41.3%), from €116,000 to €68,112
- Trade debts -€2.5m
down €2.5m (-99.5%), from €2.5m to €12,394
- Other debts -€30,917
down €30,917 (-92.8%), from €33,327 to €2,410
- Gross operating margin -€83,743
down €83,743 (-77.0%), from €108,770 to €25,027
- Depreciation +€13,194
up €13,194 (+336.0%), from €3,926 to €17,121
- Taxes -€13,094
down €13,094 (-86.9%), from €15,060 to €1,967
- Other operating charges -€4,439
down €4,439 (-78.1%), from €5,684 to €1,245
- Financial charges -€2,217
down €2,217 (-42.6%), from €5,200 to €2,983
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.
Cash bridge derived
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 | €2,722,874 | €205,937 | -€2.5m | -92.4% |
| Fixed assets | 21/28 | €75,962 | €58,841 | -€17,121 | -22.5% |
| Tangible fixed assets | 22/27 | €75,962 | €58,841 | -€17,121 | -22.5% |
| Plant, machinery and equipment | 23 | €7,159 | €5,015 | -€2,145 | -30.0% |
| Furniture and vehicles | 24 | €68,803 | €53,826 | -€14,976 | -21.8% |
| Current assets | 29/58 | €2,646,912 | €147,096 | -€2.5m | -94.4% |
| Amounts receivable within one year | 40/41 | €2,332,746 | €11,814 | -€2.3m | -99.5% |
| Trade receivables | 40 | €2,319,051 | €10,278 | -€2.3m | -99.6% |
| Other amounts receivable | 41 | €13,696 | €1,536 | -€12,160 | -88.8% |
| Current investments | 50/53 | €116,000 | €68,112 | -€47,888 | -41.3% |
| Cash at bank and in hand | 54/58 | €171,527 | €37,645 | -€133,882 | -78.1% |
| Deferred charges and accrued income | 490/1 | €26,639 | €29,525 | +€2,887 | +10.8% |
| Total equity and liabilities | 10/49 | €2,722,874 | €205,937 | -€2.5m | -92.4% |
| Equity | 10/15 | €159,689 | €162,278 | +€2,589 | +1.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €154,689 | €157,278 | +€2,589 | +1.7% |
| Distributable reserves | 133 | €154,689 | €157,278 | +€2,589 | +1.7% |
| Amounts payable | 17/49 | €2,563,185 | €43,659 | -€2.5m | -98.3% |
| Amounts payable after more than one year | 17 | €27,775 | €9,463 | -€18,312 | -65.9% |
| Financial debts | 170/4 | €27,775 | €9,463 | -€18,312 | -65.9% |
| Amounts payable within one year | 42/48 | €2,535,410 | €34,196 | -€2.5m | -98.7% |
| Current portion of amounts payable after more than one year | 42 | €17,477 | €18,292 | +€814 | +4.7% |
| Trade debts | 44 | €2,471,733 | €12,394 | -€2.5m | -99.5% |
| Suppliers | 440/4 | €2,471,733 | €12,394 | -€2.5m | -99.5% |
| Taxes, remuneration and social security | 45 | €12,872 | €1,100 | -€11,773 | -91.5% |
| Taxes | 450/3 | €12,872 | €1,100 | -€11,773 | -91.5% |
| Other amounts payable | 47/48 | €33,327 | €2,410 | -€30,917 | -92.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,926 | €17,121 | +€13,194 | +336.0% |
| Other operating charges | 640/8 | €5,684 | €1,245 | -€4,439 | -78.1% |
| Non-recurring operating charges | 66A | €43,288 | €0 | -€43,288 | -100.0% |
| Gross operating margin | 9900 | €108,770 | €25,027 | -€83,743 | -77.0% |
| Operating profit (loss) | 9901 | €55,871 | €6,661 | -€49,211 | -88.1% |
| Financial income | 75/76B | €2,334 | €878 | -€1,456 | -62.4% |
| Recurring financial income | 75 | €2,334 | €878 | -€1,456 | -62.4% |
| Financial charges | 65/66B | €5,200 | €2,983 | -€2,217 | -42.6% |
| Recurring financial charges | 65 | €5,200 | €2,983 | -€2,217 | -42.6% |
| Profit (loss) for the period before taxes | 9903 | €53,005 | €4,556 | -€48,450 | -91.4% |
| Income taxes | 67/77 | €15,060 | €1,967 | -€13,094 | -86.9% |
| Profit (loss) for the period | 9904 | €37,945 | €2,589 | -€35,356 | -93.2% |
| Profit (loss) for the period to be appropriated | 9905 | €37,945 | €2,589 | -€35,356 | -93.2% |
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 9 October 2026 via checked.be.