BEARHUNTER: 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.
BEARHUNTER
Largest movements
- Cash -€224,468
down €224,468 (-96.0%), from €233,828 to €9,360
mainly Receivables after one year (-€220,000) and Current investments (-€14,543)
- Receivables after one year +€220,000
new in 2025: €220,000
- Current investments +€14,543
up €14,543 (+8.3%), from €175,332 to €189,875
- Tangible fixed assets -€8,471
down €8,471 (-3.1%), from €273,920 to €265,449
- Profit (loss) carried forward +€11,844
up €11,844 (+82.5%), from €14,348 to €26,192
- Provisions -€10,500
down €10,500 (-42.0%), from €25,000 to €14,500
- Provisions -€35,500
down €35,500, from €25,000 to -€10,500
- Gross operating margin -€24,186
down €24,186, from €10,672 to -€13,514
- Financial income +€9,525
up €9,525 (+50.8%), from €18,755 to €28,280
of which Financial income: +€9,525
- Taxes -€2,096
down €2,096 (-42.7%), from €4,911 to €2,815
- Financial charges -€1,514
down €1,514 (-41.5%), from €3,650 to €2,136
of which Financial charges: -€1,514
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 | €701,748 | €703,092 | +€1,344 | +0.2% |
| Fixed assets | 21/28 | €291,920 | €283,449 | -€8,471 | -2.9% |
| Tangible fixed assets | 22/27 | €273,920 | €265,449 | -€8,471 | -3.1% |
| Land and buildings | 22 | €273,920 | €265,449 | -€8,471 | -3.1% |
| Financial fixed assets | 28 | €18,000 | €18,000 | = | 0.0% |
| Current assets | 29/58 | €409,828 | €419,643 | +€9,815 | +2.4% |
| Amounts receivable after more than one year | 29 | - | €220,000 | +€220,000 | |
| Other amounts receivable | 291 | - | €220,000 | +€220,000 | |
| Amounts receivable within one year | 40/41 | €668 | €408 | -€260 | -38.9% |
| Other amounts receivable | 41 | €668 | €408 | -€260 | -38.9% |
| Current investments | 50/53 | €175,332 | €189,875 | +€14,543 | +8.3% |
| Cash at bank and in hand | 54/58 | €233,828 | €9,360 | -€224,468 | -96.0% |
| Total equity and liabilities | 10/49 | €701,748 | €703,092 | +€1,344 | +0.2% |
| Equity | 10/15 | €676,748 | €688,592 | +€11,844 | +1.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €650,000 | €650,000 | = | 0.0% |
| 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 | €648,140 | €648,140 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,348 | €26,192 | +€11,844 | +82.5% |
| Provisions and deferred taxes | 16 | €25,000 | €14,500 | -€10,500 | -42.0% |
| Provisions for liabilities and charges | 160/5 | €25,000 | €14,500 | -€10,500 | -42.0% |
| Other liabilities and charges | 164/5 | €25,000 | €14,500 | -€10,500 | -42.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,471 | €8,471 | = | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €25,000 | -€10,500 | -€35,500 | |
| Gross operating margin | 9900 | €10,672 | -€13,514 | -€24,186 | |
| Operating profit (loss) | 9901 | -€22,799 | -€11,485 | +€11,314 | +49.6% |
| Financial income | 75/76B | €18,755 | €28,280 | +€9,525 | +50.8% |
| Recurring financial income | 75 | €18,755 | €28,280 | +€9,525 | +50.8% |
| Non-recurring financial income | 76B | €18,755 | €28,280 | +€9,525 | +50.8% |
| Financial charges | 65/66B | €3,650 | €2,136 | -€1,514 | -41.5% |
| Recurring financial charges | 65 | €3,650 | €2,136 | -€1,514 | -41.5% |
| Non-recurring financial charges | 66B | €3,650 | €2,136 | -€1,514 | -41.5% |
| Profit (loss) for the period before taxes | 9903 | -€7,694 | €14,659 | +€22,353 | |
| Income taxes | 67/77 | €4,911 | €2,815 | -€2,096 | -42.7% |
| Profit (loss) for the period | 9904 | -€12,605 | €11,844 | +€24,449 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,605 | €11,844 | +€24,449 |
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 29 September 2026 via checked.be.