B4Hotels: what changed
Two fiscal 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.
B4Hotels
Largest movements
- Tangible fixed assets +€681,357
up €681,357 (+9386.7%), from €7,259 to €688,616
of which Land and buildings: +€658,067
- Financial fixed assets +€435,578
up €435,578 (+7.5%), from €5.8m to €6.2m
- Cash -€203,395
down €203,395 (-76.0%), from €267,715 to €64,320
mainly Investment in fixed assets (net) (-€1.2m) and Contributions, distributions and other (-€200,000)
- Short-term financial debts +€660,000
new in 2025: €660,000
- Other debts +€261,003
up €261,003 (+91.7%), from €284,498 to €545,501
- Gross operating margin -€302,752
down €302,752 (-47.2%), from €641,856 to €339,104
- Financial income -€158,208
down €158,208 (-91.0%), from €173,791 to €15,584
- Taxes -€92,936
down €92,936 (-61.3%), from €151,506 to €58,570
- Depreciation +€90,978
up €90,978 (+6849.4%), from €1,328 to €92,306
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 | €6,090,805 | €7,008,438 | +€917,633 | +15.1% |
| Fixed assets | 21/28 | €5,781,144 | €6,898,079 | +€1.1m | +19.3% |
| Tangible fixed assets | 22/27 | €7,259 | €688,616 | +€681,357 | +9386.7% |
| Land and buildings | 22 | - | €658,067 | +€658,067 | |
| Plant, machinery and equipment | 23 | €2,021 | €1,319 | -€701 | -34.7% |
| Furniture and vehicles | 24 | €5,238 | €29,230 | +€23,991 | +458.0% |
| Financial fixed assets | 28 | €5,773,885 | €6,209,463 | +€435,578 | +7.5% |
| Current assets | 29/58 | €309,661 | €110,359 | -€199,302 | -64.4% |
| Amounts receivable within one year | 40/41 | €34,992 | €35,852 | +€860 | +2.5% |
| Trade receivables | 40 | €34,228 | €10,363 | -€23,865 | -69.7% |
| Other amounts receivable | 41 | €764 | €25,489 | +€24,725 | +3234.5% |
| Cash at bank and in hand | 54/58 | €267,715 | €64,320 | -€203,395 | -76.0% |
| Deferred charges and accrued income | 490/1 | €6,954 | €10,187 | +€3,233 | +46.5% |
| Total equity and liabilities | 10/49 | €6,090,805 | €7,008,438 | +€917,633 | +15.1% |
| Equity | 10/15 | €3,502,371 | €3,480,490 | -€21,881 | -0.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,483,771 | €3,461,890 | -€21,881 | -0.6% |
| Distributable reserves | 133 | €3,483,771 | €3,461,890 | -€21,881 | -0.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,588,434 | €3,527,948 | +€939,514 | +36.3% |
| Amounts payable after more than one year | 17 | €1,995,000 | €1,995,000 | = | 0.0% |
| Financial debts | 170/4 | €1,995,000 | €1,995,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €325,343 | €1,244,144 | +€918,801 | +282.4% |
| Financial debts | 43 | - | €660,000 | +€660,000 | |
| Credit institutions | 430/8 | - | €660,000 | +€660,000 | |
| Trade debts | 44 | €9,607 | €5,205 | -€4,402 | -45.8% |
| Suppliers | 440/4 | €9,607 | €5,205 | -€4,402 | -45.8% |
| Taxes, remuneration and social security | 45 | €31,237 | €33,438 | +€2,201 | +7.0% |
| Taxes | 450/3 | €31,237 | €33,438 | +€2,201 | +7.0% |
| Other amounts payable | 47/48 | €284,498 | €545,501 | +€261,003 | +91.7% |
| Accrued charges and deferred income | 492/3 | €268,092 | €288,805 | +€20,713 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,328 | €92,306 | +€90,978 | +6849.4% |
| Other operating charges | 640/8 | €1,497 | €1,478 | -€19 | -1.3% |
| Gross operating margin | 9900 | €641,856 | €339,104 | -€302,752 | -47.2% |
| Operating profit (loss) | 9901 | €639,031 | €245,320 | -€393,711 | -61.6% |
| Financial income | 75/76B | €173,791 | €15,584 | -€158,208 | -91.0% |
| Recurring financial income | 75 | €173,791 | €15,584 | -€158,208 | -91.0% |
| Financial charges | 65/66B | €29,449 | €24,215 | -€5,235 | -17.8% |
| Recurring financial charges | 65 | €29,449 | €24,215 | -€5,235 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | €783,373 | €236,689 | -€546,684 | -69.8% |
| Income taxes | 67/77 | €151,506 | €58,570 | -€92,936 | -61.3% |
| Profit (loss) for the period | 9904 | €631,867 | €178,119 | -€453,748 | -71.8% |
| Profit (loss) for the period to be appropriated | 9905 | €631,867 | €178,119 | -€453,748 | -71.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.