BASH MANAGEMENT: 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.
BASH MANAGEMENT
Largest movements
- Current investments +€2.8m
up €2.8m (+11.3%), from €24.8m to €27.6m
- Financial fixed assets +€681,559
up €681,559 (+5.7%), from €11.9m to €12.6m
- Reserves +€3.8m
up €3.8m (+9.7%), from €39.1m to €42.8m
of which Distributable reserves: +€3.8m
- Financial income -€3.7m
down €3.7m (-42.3%), from €8.8m to €5.1m
- Taxes -€292,570
down €292,570 (-38.8%), from €754,121 to €461,551
- Gross operating margin +€54,578
up €54,578 (+11.1%), from -€490,231 to -€435,654
- Other operating charges +€5,995
up €5,995 (+21.7%), from €27,629 to €33,624
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 | €40,003,737 | €43,522,142 | +€3.5m | +8.8% |
| Fixed assets | 21/28 | €11,946,781 | €12,628,538 | +€681,757 | +5.7% |
| Tangible fixed assets | 22/27 | €8,546 | €8,744 | +€198 | +2.3% |
| Furniture and vehicles | 24 | €8,546 | €8,744 | +€198 | +2.3% |
| Financial fixed assets | 28 | €11,938,235 | €12,619,794 | +€681,559 | +5.7% |
| Current assets | 29/58 | €28,056,957 | €30,893,605 | +€2.8m | +10.1% |
| Amounts receivable within one year | 40/41 | €14,700 | €18,521 | +€3,821 | +26.0% |
| Other amounts receivable | 41 | €14,700 | €18,521 | +€3,821 | +26.0% |
| Current investments | 50/53 | €24,816,114 | €27,623,675 | +€2.8m | +11.3% |
| Cash at bank and in hand | 54/58 | €3,225,632 | €3,251,200 | +€25,568 | +0.8% |
| Deferred charges and accrued income | 490/1 | €510 | €208 | -€302 | -59.1% |
| Total equity and liabilities | 10/49 | €40,003,737 | €43,522,142 | +€3.5m | +8.8% |
| Equity | 10/15 | €39,382,703 | €43,166,709 | +€3.8m | +9.6% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €39,061,550 | €42,844,550 | +€3.8m | +9.7% |
| Non-distributable reserves | 130/1 | €12,550 | €12,550 | = | 0.0% |
| Legal reserve | 130 | €12,550 | €12,550 | = | 0.0% |
| Distributable reserves | 133 | €39,049,000 | €42,832,000 | +€3.8m | +9.7% |
| Profit (loss) carried forward | 14 | €196,153 | €197,159 | +€1,006 | +0.5% |
| Amounts payable | 17/49 | €621,035 | €355,433 | -€265,601 | -42.8% |
| Amounts payable within one year | 42/48 | €621,035 | €355,433 | -€265,601 | -42.8% |
| Trade debts | 44 | €3,523 | €37 | -€3,486 | -99.0% |
| Suppliers | 440/4 | €3,523 | €37 | -€3,486 | -99.0% |
| Taxes, remuneration and social security | 45 | €617,512 | €355,397 | -€262,115 | -42.4% |
| Taxes | 450/3 | €617,512 | €355,397 | -€262,115 | -42.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €940 | €591 | -€349 | -37.2% |
| Other operating charges | 640/8 | €27,629 | €33,624 | +€5,995 | +21.7% |
| Gross operating margin | 9900 | -€490,231 | -€435,654 | +€54,578 | +11.1% |
| Operating profit (loss) | 9901 | -€518,801 | -€469,869 | +€48,932 | +9.4% |
| Financial income | 75/76B | €8,817,050 | €5,089,936 | -€3.7m | -42.3% |
| Recurring financial income | 75 | €8,817,050 | €5,089,936 | -€3.7m | -42.3% |
| Financial charges | 65/66B | €3,452 | €510 | -€2,942 | -85.2% |
| Recurring financial charges | 65 | €3,452 | €510 | -€2,942 | -85.2% |
| Profit (loss) for the period before taxes | 9903 | €8,294,796 | €4,619,557 | -€3.7m | -44.3% |
| Income taxes | 67/77 | €754,121 | €461,551 | -€292,570 | -38.8% |
| Profit (loss) for the period | 9904 | €7,540,675 | €4,158,006 | -€3.4m | -44.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,540,675 | €4,158,006 | -€3.4m | -44.9% |
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 16 October 2026 via checked.be.