B S H IMMO: 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 S H IMMO
Largest movements
- Tangible fixed assets -€75,099
down €75,099 (-3.9%), from €1.9m to €1.9m
of which Land and buildings: -€78,053
- Cash -€35,278
down €35,278 (-49.5%), from €71,283 to €36,005
mainly Debts after one year (-€149,468) and Other debts (-€36,747)
- Debts after one year -€149,468
down €149,468 (-16.8%), from €892,317 to €742,849
- Reserves +€105,250
up €105,250 (+585%), from €18,000 to €123,250
of which Tax-exempt reserves: +€105,250
- Other debts -€36,747
down €36,747 (-9.4%), from €392,708 to €355,961
- Depreciation -€151,143
down €151,143 (-65.8%), from €229,562 to €78,419
- Taxes +€22,445
up €22,445 (+155%), from €14,487 to €36,932
- Other operating charges +€9,572
up €9,572 (+232%), from €4,124 to €13,696
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 | €2,034,966 | €1,944,345 | -€90,621 | -4.5% |
| Fixed assets | 21/28 | €1,946,565 | €1,871,465 | -€75,099 | -3.9% |
| Tangible fixed assets | 22/27 | €1,946,565 | €1,871,465 | -€75,099 | -3.9% |
| Land and buildings | 22 | €1,946,565 | €1,868,511 | -€78,053 | -4.0% |
| Furniture and vehicles | 24 | - | €2,954 | +€2,954 | |
| Current assets | 29/58 | €88,401 | €72,879 | -€15,522 | -17.6% |
| Amounts receivable within one year | 40/41 | €16,504 | €23,269 | +€6,765 | +41.0% |
| Other amounts receivable | 41 | €16,504 | €23,269 | +€6,765 | +41.0% |
| Cash at bank and in hand | 54/58 | €71,283 | €36,005 | -€35,278 | -49.5% |
| Deferred charges and accrued income | 490/1 | €615 | €13,606 | +€12,991 | +2,113% |
| Total equity and liabilities | 10/49 | €2,034,966 | €1,944,345 | -€90,621 | -4.5% |
| Equity | 10/15 | €519,217 | €617,063 | +€97,846 | +18.8% |
| Contributions | 10/11 | €180,000 | €180,000 | = | 0.0% |
| Capital | 10 | €180,000 | €180,000 | = | 0.0% |
| Issued capital | 100 | €180,000 | €180,000 | = | 0.0% |
| Reserves | 13 | €18,000 | €123,250 | +€105,250 | +585% |
| Non-distributable reserves | 130/1 | €18,000 | €18,000 | = | 0.0% |
| Legal reserve | 130 | €18,000 | €18,000 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €105,250 | +€105,250 | |
| Profit (loss) carried forward | 14 | €321,217 | €313,813 | -€7,404 | -2.3% |
| Amounts payable | 17/49 | €1,515,749 | €1,327,282 | -€188,468 | -12.4% |
| Amounts payable after more than one year | 17 | €892,317 | €742,849 | -€149,468 | -16.8% |
| Financial debts | 170/4 | €892,317 | €742,849 | -€149,468 | -16.8% |
| Amounts payable within one year | 42/48 | €618,200 | €579,869 | -€38,331 | -6.2% |
| Current portion of amounts payable after more than one year | 42 | €148,051 | €149,468 | +€1,417 | +1.0% |
| Trade debts | 44 | €77,441 | €74,440 | -€3,001 | -3.9% |
| Suppliers | 440/4 | €77,441 | €74,440 | -€3,001 | -3.9% |
| Other amounts payable | 47/48 | €392,708 | €355,961 | -€36,747 | -9.4% |
| Accrued charges and deferred income | 492/3 | €5,232 | €4,564 | -€669 | -12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €229,562 | €78,419 | -€151,143 | -65.8% |
| Other operating charges | 640/8 | €4,124 | €13,696 | +€9,572 | +232% |
| Gross operating margin | 9900 | €240,611 | €242,061 | +€1,450 | +0.6% |
| Operating profit (loss) | 9901 | €6,925 | €149,946 | +€143,021 | +2,065% |
| Financial charges | 65/66B | €16,991 | €15,167 | -€1,824 | -10.7% |
| Recurring financial charges | 65 | €16,991 | €15,167 | -€1,824 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | -€10,065 | €134,779 | +€144,844 | |
| Transfer from deferred taxes | 780 | €15,555 | - | -€15,555 | |
| Income taxes | 67/77 | €14,487 | €36,932 | +€22,445 | +155% |
| Profit (loss) for the period | 9904 | -€8,998 | €97,846 | +€106,845 | |
| Transfer from tax-exempt reserves | 789 | €46,664 | - | -€46,664 | |
| Transfer to tax-exempt reserves | 689 | - | €105,250 | +€105,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,666 | -€7,404 | -€45,069 |
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 23 October 2026 via checked.be.