BAHO: what changed
BAHO
Largest movements
- Cash +€390,229
up €390,229 (+213%), from €183,631 to €573,860
mainly Net result for the year (+€200,829) and Investment in fixed assets (net) (+€185,615)
- Tangible fixed assets -€203,672
down €203,672 (-87.6%), from €232,424 to €28,752
of which Furniture and vehicles: -€187,917
- Receivables within one year -€73,164
down €73,164 (-26.4%), from €277,529 to €204,365
of which Other amounts receivable: -€76,138
- Reserves +€200,000
up €200,000 (+39.4%), from €507,360 to €707,360
of which Distributable reserves: +€200,000
- Other debts -€142,827
down €142,827 (-99.4%), from €143,644 to €817
- Tax, wage and social debts +€57,695
up €57,695 (+554%), from €10,407 to €68,102
of which Taxes: +€60,288
- Gross operating margin +€93,688
up €93,688 (+18.5%), from €506,328 to €600,016
- Depreciation -€68,814
down €68,814 (-79.2%), from €86,871 to €18,058
- Taxes +€55,302
up €55,302 (+160%), from €34,548 to €89,849
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €701,569 | €816,213 | +€114,644 | +16.3% |
| Fixed assets | 21/28 | €232,924 | €29,252 | -€203,672 | -87.4% |
| Tangible fixed assets | 22/27 | €232,424 | €28,752 | -€203,672 | -87.6% |
| Plant, machinery and equipment | 23 | €42,304 | €26,549 | -€15,755 | -37.2% |
| Furniture and vehicles | 24 | €190,120 | €2,202 | -€187,917 | -98.8% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €468,645 | €786,961 | +€318,316 | +67.9% |
| Amounts receivable within one year | 40/41 | €277,529 | €204,365 | -€73,164 | -26.4% |
| Trade receivables | 40 | €51,786 | €54,760 | +€2,974 | +5.7% |
| Other amounts receivable | 41 | €225,743 | €149,605 | -€76,138 | -33.7% |
| Cash at bank and in hand | 54/58 | €183,631 | €573,860 | +€390,229 | +213% |
| Deferred charges and accrued income | 490/1 | €7,485 | €8,736 | +€1,251 | +16.7% |
| Total equity and liabilities | 10/49 | €701,569 | €816,213 | +€114,644 | +16.3% |
| Equity | 10/15 | €531,882 | €732,711 | +€200,829 | +37.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €507,360 | €707,360 | +€200,000 | +39.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €505,500 | €705,500 | +€200,000 | +39.6% |
| Profit (loss) carried forward | 14 | €5,930 | €6,759 | +€829 | +14.0% |
| Amounts payable | 17/49 | €169,687 | €83,502 | -€86,185 | -50.8% |
| Amounts payable within one year | 42/48 | €169,687 | €83,502 | -€86,185 | -50.8% |
| Trade debts | 44 | €15,635 | €14,582 | -€1,054 | -6.7% |
| Suppliers | 440/4 | €15,635 | €14,582 | -€1,054 | -6.7% |
| Taxes, remuneration and social security | 45 | €10,407 | €68,102 | +€57,695 | +554% |
| Taxes | 450/3 | €0 | €60,288 | +€60,288 | |
| Remuneration and social security | 454/9 | €10,407 | €7,814 | -€2,593 | -24.9% |
| Other amounts payable | 47/48 | €143,644 | €817 | -€142,827 | -99.4% |
| Non-recurring operating income | 76A | €21,570 | €124,385 | +€102,815 | +477% |
| Remuneration, social security and pensions | 62 | €285,848 | €283,388 | -€2,460 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,871 | €18,058 | -€68,814 | -79.2% |
| Other operating charges | 640/8 | €1,359 | €1,495 | +€136 | +10.0% |
| Gross operating margin | 9900 | €506,328 | €600,016 | +€93,688 | +18.5% |
| Operating profit (loss) | 9901 | €132,250 | €297,076 | +€164,826 | +125% |
| Financial income | 75/76B | €0 | €311 | +€311 | +622,340% |
| Recurring financial income | 75 | €0 | €311 | +€311 | +622,340% |
| Financial charges | 65/66B | €7,424 | €6,709 | -€715 | -9.6% |
| Recurring financial charges | 65 | €7,424 | €6,709 | -€715 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €124,827 | €290,678 | +€165,851 | +133% |
| Income taxes | 67/77 | €34,548 | €89,849 | +€55,302 | +160% |
| Profit (loss) for the period | 9904 | €90,279 | €200,829 | +€110,550 | +122% |
| Profit (loss) for the period to be appropriated | 9905 | €90,279 | €200,829 | +€110,550 | +122% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.