BH Holding: 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.
What changed
BH Holding
NACE 55.100, Hotels and similar accommodation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€19,783
2024 · €361,981-€342,198
Equity
€461,470
2024 · €441,687+€19,783
Cash
€379,496
2024 · €197,686+€181,809
Balance sheet total
€10.8m
2024 · €10.9m-€74,840
Largest movements
Assets
- Intangible fixed assets -€426,842
down €426,842 (-5.3%), from €8.1m to €7.7m
- Cash +€181,809
up €181,809 (+92.0%), from €197,686 to €379,496
mainly Depreciation (+€456,858) and Trade debts (+€290,841)
Equity and liabilities
- Debts after one year -€515,212
down €515,212 (-6.5%), from €7.9m to €7.4m
of which Other amounts payable: -€423,950
- Trade debts +€290,841
up €290,841 (+19.4%), from €1.5m to €1.8m
Income statement
- Gross operating margin -€307,080
down €307,080 (-19.5%), from €1.6m to €1.3m
- Financial charges +€124,717
up €124,717 (+151%), from €82,423 to €207,141
- Taxes -€114,290
down €114,290 (-81.6%), from €140,000 to €25,710
- Staff costs +€35,183
up €35,183 (+7.8%), from €448,670 to €483,854
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.
Result 2024
€361,981
Gross operating margin
-€307,080
Staff costs
-€35,183
Depreciation
-€10,371
Other operating charges
+€7,123
Other operating items
-€2
Financial income
+€13,741
Financial charges
-€124,717
Taxes
+€114,290
Result 2025
€19,783
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€764,981
Investment
-€72,177
Financing
-€510,995
Cash 2024
€197,686
From operations (derived)
+€764,981
Net result for the year
+€19,783
Depreciation
+€456,858
Receivables after one year
-€82,019
Receivables within one year
-€57,498
Deferred charges and accrued income
+€11,484
Trade debts
+€290,841
Tax, wage and social debts
+€39,476
Advances received
+€20,791
Accrued charges and deferred income
+€65,264
Investment (derived)
-€72,177
Investment in fixed assets (net)
-€72,177
Financing
-€510,995
Debts after one year
-€515,212
Current portion of long-term debt
+€4,218
Cash 2025
€379,496
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,903,259 | €10,828,419 | -€74,840 | -0.7% |
| Fixed assets | 21/28 | €8,302,009 | €7,917,327 | -€384,681 | -4.6% |
| Intangible fixed assets | 21 | €8,110,002 | €7,683,160 | -€426,842 | -5.3% |
| Tangible fixed assets | 22/27 | €132,073 | €174,234 | +€42,161 | +31.9% |
| Land and buildings | 22 | €61,669 | €75,576 | +€13,908 | +22.6% |
| Plant, machinery and equipment | 23 | €55,503 | €87,135 | +€31,632 | +57.0% |
| Furniture and vehicles | 24 | €14,901 | €11,523 | -€3,379 | -22.7% |
| Financial fixed assets | 28 | €59,933 | €59,933 | = | 0.0% |
| Current assets | 29/58 | €2,601,250 | €2,911,092 | +€309,842 | +11.9% |
| Amounts receivable after more than one year | 29 | €953,578 | €1,035,597 | +€82,019 | +8.6% |
| Other amounts receivable | 291 | €953,578 | €1,035,597 | +€82,019 | +8.6% |
| Amounts receivable within one year | 40/41 | €1,404,603 | €1,462,101 | +€57,498 | +4.1% |
| Trade receivables | 40 | €73,665 | €67 | -€73,598 | -99.9% |
| Other amounts receivable | 41 | €1,330,938 | €1,462,034 | +€131,095 | +9.8% |
| Cash at bank and in hand | 54/58 | €197,686 | €379,496 | +€181,809 | +92.0% |
| Deferred charges and accrued income | 490/1 | €45,383 | €33,899 | -€11,484 | -25.3% |
| Total equity and liabilities | 10/49 | €10,903,259 | €10,828,419 | -€74,840 | -0.7% |
| Equity | 10/15 | €441,687 | €461,470 | +€19,783 | +4.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €435,487 | €455,270 | +€19,783 | +4.5% |
| Amounts payable | 17/49 | €10,461,572 | €10,366,949 | -€94,622 | -0.9% |
| Amounts payable after more than one year | 17 | €7,890,773 | €7,375,561 | -€515,212 | -6.5% |
| Financial debts | 170/4 | €91,262 | - | -€91,262 | |
| Other amounts payable | 178/9 | €7,799,511 | €7,375,561 | -€423,950 | -5.4% |
| Amounts payable within one year | 42/48 | €2,570,798 | €2,926,125 | +€355,326 | +13.8% |
| Current portion of amounts payable after more than one year | 42 | €537,729 | €541,947 | +€4,218 | +0.8% |
| Trade debts | 44 | €1,502,788 | €1,793,629 | +€290,841 | +19.4% |
| Suppliers | 440/4 | €1,502,788 | €1,793,629 | +€290,841 | +19.4% |
| Advances received on contracts in progress | 46 | €4,722 | €25,513 | +€20,791 | +440% |
| Taxes, remuneration and social security | 45 | €252,272 | €291,748 | +€39,476 | +15.6% |
| Taxes | 450/3 | €167,758 | €203,116 | +€35,358 | +21.1% |
| Remuneration and social security | 454/9 | €84,513 | €88,632 | +€4,118 | +4.9% |
| Other amounts payable | 47/48 | €273,288 | €273,288 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | €65,264 | +€65,264 | |
| Non-recurring operating income | 76A | €384 | €1,087 | +€703 | +183% |
| Remuneration, social security and pensions | 62 | €448,670 | €483,854 | +€35,183 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €446,487 | €456,858 | +€10,371 | +2.3% |
| Other operating charges | 640/8 | €166,135 | €159,012 | -€7,123 | -4.3% |
| Non-recurring operating charges | 66A | - | €2 | +€2 | |
| Gross operating margin | 9900 | €1,576,045 | €1,268,965 | -€307,080 | -19.5% |
| Operating profit (loss) | 9901 | €514,752 | €169,240 | -€345,513 | -67.1% |
| Financial income | 75/76B | €69,652 | €83,393 | +€13,741 | +19.7% |
| Recurring financial income | 75 | €69,652 | €83,393 | +€13,741 | +19.7% |
| Financial charges | 65/66B | €82,423 | €207,141 | +€124,717 | +151% |
| Recurring financial charges | 65 | €82,423 | €207,141 | +€124,717 | +151% |
| Profit (loss) for the period before taxes | 9903 | €501,981 | €45,492 | -€456,489 | -90.9% |
| Income taxes | 67/77 | €140,000 | €25,710 | -€114,290 | -81.6% |
| Profit (loss) for the period | 9904 | €361,981 | €19,783 | -€342,198 | -94.5% |
| Profit (loss) for the period to be appropriated | 9905 | €361,981 | €19,783 | -€342,198 | -94.5% |
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 27 October 2026 via checked.be.