BH IMMO: 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.
BH IMMO
Largest movements
- Receivables within one year -€132,428
down €132,428 (-93.0%), from €142,342 to €9,914
of which Trade receivables: -€132,270
- Intangible fixed assets -€105,119
no longer reported in 2025 (was €105,119)
- Tangible fixed assets +€102,594
up €102,594 (+16.0%), from €640,605 to €743,198
of which Land and buildings: +€215,119
- Stocks and contracts -€68,274
no longer reported in 2025 (was €68,274)
- Cash -€24,896
down €24,896 (-89.2%), from €27,906 to €3,010
mainly Trade debts (-€190,475) and Contributions, distributions and other (-€116,519)
- Trade debts -€190,475
down €190,475 (-96.2%), from €197,923 to €7,449
- Debts after one year +€154,815
up €154,815 (+33.7%), from €459,753 to €614,568
of which Financial debts: +€179,546
- Reserves -€102,305
down €102,305 (-85.4%), from €119,780 to €17,476
- Current portion of long-term debt -€38,290
down €38,290 (-34.5%), from €111,093 to €72,803
- Tax, wage and social debts -€31,989
down €31,989 (-72.3%), from €44,254 to €12,266
of which Remuneration and social security: -€16,688
- Turnover -€1.0m
no longer reported in 2025 (was €1.0m)
- Purchases and services -€780,774
no longer reported in 2025 (was €780,774)
- Gross operating margin -€60,488
down €60,488 (-21.5%), from €281,066 to €220,578
- Write-downs +€29,375
new in 2025: €29,375
- Staff costs -€25,829
down €25,829 (-23.6%), from €109,310 to €83,480
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 | €987,804 | €756,379 | -€231,425 | -23.4% |
| Fixed assets | 21/28 | €747,723 | €743,198 | -€4,525 | -0.6% |
| Intangible fixed assets | 21 | €105,119 | - | -€105,119 | |
| Tangible fixed assets | 22/27 | €640,605 | €743,198 | +€102,594 | +16.0% |
| Land and buildings | 22 | €199,692 | €414,811 | +€215,119 | +108% |
| Plant, machinery and equipment | 23 | €45,147 | - | -€45,147 | |
| Furniture and vehicles | 24 | €17,325 | - | -€17,325 | |
| Leasing and similar rights | 25 | €27,746 | - | -€27,746 | |
| Other tangible fixed assets | 26 | €350,695 | €328,388 | -€22,308 | -6.4% |
| Financial fixed assets | 28 | €2,000 | - | -€2,000 | |
| Current assets | 29/58 | €240,081 | €13,181 | -€226,900 | -94.5% |
| Stocks and contracts in progress | 3 | €68,274 | - | -€68,274 | |
| Stocks | 30/36 | €68,274 | - | -€68,274 | |
| Amounts receivable within one year | 40/41 | €142,342 | €9,914 | -€132,428 | -93.0% |
| Trade receivables | 40 | €132,270 | - | -€132,270 | |
| Other amounts receivable | 41 | €10,072 | €9,914 | -€158 | -1.6% |
| Cash at bank and in hand | 54/58 | €27,906 | €3,010 | -€24,896 | -89.2% |
| Deferred charges and accrued income | 490/1 | €1,559 | €256 | -€1,303 | -83.6% |
| Total equity and liabilities | 10/49 | €987,804 | €756,379 | -€231,425 | -23.4% |
| Equity | 10/15 | €174,780 | €49,294 | -€125,486 | -71.8% |
| Contributions | 10/11 | €55,000 | €40,786 | -€14,214 | -25.8% |
| Reserves | 13 | €119,780 | €17,476 | -€102,305 | -85.4% |
| Distributable reserves | 133 | €119,780 | €17,476 | -€102,305 | -85.4% |
| Profit (loss) carried forward | 14 | - | -€8,967 | -€8,967 | |
| Amounts payable | 17/49 | €813,024 | €707,085 | -€105,939 | -13.0% |
| Amounts payable after more than one year | 17 | €459,753 | €614,568 | +€154,815 | +33.7% |
| Financial debts | 170/4 | €435,022 | €614,568 | +€179,546 | +41.3% |
| Trade debts | 175 | €24,731 | - | -€24,731 | |
| Amounts payable within one year | 42/48 | €353,271 | €92,517 | -€260,754 | -73.8% |
| Current portion of amounts payable after more than one year | 42 | €111,093 | €72,803 | -€38,290 | -34.5% |
| Trade debts | 44 | €197,923 | €7,449 | -€190,475 | -96.2% |
| Suppliers | 440/4 | €197,923 | €7,449 | -€190,475 | -96.2% |
| Taxes, remuneration and social security | 45 | €44,254 | €12,266 | -€31,989 | -72.3% |
| Taxes | 450/3 | €27,566 | €12,266 | -€15,301 | -55.5% |
| Remuneration and social security | 454/9 | €16,688 | - | -€16,688 | |
| Turnover | 70 | €1,013,341 | - | -€1.0m | |
| Goods, raw materials, services and sundry goods | 60/61 | €780,774 | - | -€780,774 | |
| Remuneration, social security and pensions | 62 | €109,310 | €83,480 | -€25,829 | -23.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,715 | €89,103 | +€3,388 | +4.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €29,375 | +€29,375 | |
| Other operating charges | 640/8 | €5,075 | €2,839 | -€2,236 | -44.1% |
| Non-recurring operating charges | 66A | - | €1 | +€1 | |
| Gross operating margin | 9900 | €281,066 | €220,578 | -€60,488 | -21.5% |
| Operating profit (loss) | 9901 | €80,966 | €15,780 | -€65,186 | -80.5% |
| Financial income | 75/76B | €1,919 | €0 | -€1,919 | -100.0% |
| Recurring financial income | 75 | €696 | €0 | -€696 | -100.0% |
| Non-recurring financial income | 76B | €1,222 | - | -€1,222 | |
| Financial charges | 65/66B | €13,316 | €24,747 | +€11,431 | +85.8% |
| Recurring financial charges | 65 | €13,316 | €24,496 | +€11,180 | +84.0% |
| Non-recurring financial charges | 66B | - | €251 | +€251 | |
| Profit (loss) for the period before taxes | 9903 | €69,569 | -€8,967 | -€78,536 | |
| Income taxes | 67/77 | €17,325 | - | -€17,325 | |
| Profit (loss) for the period | 9904 | €52,243 | -€8,967 | -€61,211 | |
| Profit (loss) for the period to be appropriated | 9905 | €52,243 | -€8,967 | -€61,211 |
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.