BALHAN: 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.
BALHAN
Largest movements
- Tangible fixed assets +€67,362
up €67,362 (+714.0%), from €9,435 to €76,797
of which Furniture and vehicles: +€69,146
- Cash +€12,221
up €12,221 (+168.3%), from €7,261 to €19,483
mainly Debts after one year (+€55,847) and Net result for the year (+€27,831)
- Debts after one year +€55,847
new in 2025: €55,847
- Reserves +€25,000
up €25,000 (+36.0%), from €69,410 to €94,410
of which Non-distributable reserves: +€25,000
- Other debts -€10,923
down €10,923 (-26.1%), from €41,808 to €30,885
- Tax, wage and social debts +€4,026
up €4,026 (+152.5%), from €2,641 to €6,666
- Accrued charges and deferred income -€3,049
no longer reported in 2025 (was €3,049)
- Depreciation -€16,160
down €16,160 (-91.3%), from €17,705 to €1,545
- Gross operating margin +€7,034
up €7,034 (+24.7%), from €28,467 to €35,501
- Financial charges -€3,332
down €3,332 (-86.5%), from €3,854 to €522
- Taxes +€2,000
up €2,000 (+400.0%), from €500 to €2,500
- Other operating charges +€1,334
up €1,334 (+72.3%), from €1,846 to €3,180
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 | €101,289 | €179,942 | +€78,654 | +77.7% |
| Fixed assets | 21/28 | €9,435 | €76,797 | +€67,362 | +714.0% |
| Tangible fixed assets | 22/27 | €9,435 | €76,797 | +€67,362 | +714.0% |
| Plant, machinery and equipment | 23 | €1,784 | - | -€1,784 | |
| Furniture and vehicles | 24 | €7,651 | €76,797 | +€69,146 | +903.8% |
| Current assets | 29/58 | €91,854 | €103,145 | +€11,291 | +12.3% |
| Stocks and contracts in progress | 3 | €13,679 | €12,754 | -€925 | -6.8% |
| Stocks | 30/36 | €13,679 | €12,754 | -€925 | -6.8% |
| Amounts receivable within one year | 40/41 | €69,913 | €70,078 | +€164 | +0.2% |
| Trade receivables | 40 | €3,297 | €3,036 | -€261 | -7.9% |
| Other amounts receivable | 41 | €66,616 | €67,041 | +€425 | +0.6% |
| Cash at bank and in hand | 54/58 | €7,261 | €19,483 | +€12,221 | +168.3% |
| Deferred charges and accrued income | 490/1 | €1,000 | €831 | -€169 | -16.9% |
| Total equity and liabilities | 10/49 | €101,289 | €179,942 | +€78,654 | +77.7% |
| Equity | 10/15 | €36,207 | €63,963 | +€27,756 | +76.7% |
| Contributions | 10/11 | €33,600 | €33,600 | = | 0.0% |
| Reserves | 13 | €69,410 | €94,410 | +€25,000 | +36.0% |
| Non-distributable reserves | 130/1 | €51,050 | €76,050 | +€25,000 | +49.0% |
| Other | 1319 | €51,050 | €76,050 | +€25,000 | +49.0% |
| Distributable reserves | 133 | €18,360 | €18,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€66,916 | -€64,086 | +€2,831 | +4.2% |
| Investment grants | 15 | €113 | €39 | -€74 | -65.8% |
| Amounts payable | 17/49 | €65,082 | €115,979 | +€50,897 | +78.2% |
| Amounts payable after more than one year | 17 | - | €55,847 | +€55,847 | |
| Financial debts | 170/4 | - | €55,847 | +€55,847 | |
| Amounts payable within one year | 42/48 | €62,033 | €60,132 | -€1,901 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €10,096 | €13,080 | +€2,984 | +29.6% |
| Trade debts | 44 | €7,488 | €9,501 | +€2,012 | +26.9% |
| Suppliers | 440/4 | €7,488 | €9,501 | +€2,012 | +26.9% |
| Taxes, remuneration and social security | 45 | €2,641 | €6,666 | +€4,026 | +152.5% |
| Taxes | 450/3 | €2,641 | €6,666 | +€4,026 | +152.5% |
| Other amounts payable | 47/48 | €41,808 | €30,885 | -€10,923 | -26.1% |
| Accrued charges and deferred income | 492/3 | €3,049 | - | -€3,049 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,705 | €1,545 | -€16,160 | -91.3% |
| Other operating charges | 640/8 | €1,846 | €3,180 | +€1,334 | +72.3% |
| Gross operating margin | 9900 | €28,467 | €35,501 | +€7,034 | +24.7% |
| Operating profit (loss) | 9901 | €8,916 | €30,776 | +€21,860 | +245.2% |
| Financial income | 75/76B | €573 | €77 | -€496 | -86.6% |
| Recurring financial income | 75 | €573 | €77 | -€496 | -86.6% |
| Financial charges | 65/66B | €3,854 | €522 | -€3,332 | -86.5% |
| Recurring financial charges | 65 | €3,854 | €522 | -€3,332 | -86.5% |
| Profit (loss) for the period before taxes | 9903 | €5,635 | €30,331 | +€24,696 | +438.3% |
| Income taxes | 67/77 | €500 | €2,500 | +€2,000 | +400.0% |
| Profit (loss) for the period | 9904 | €5,135 | €27,831 | +€22,696 | +442.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,135 | €27,831 | +€22,696 | +442.0% |
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 5 October 2026 via checked.be.