BH & PARTNERS: 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 & PARTNERS
Largest movements
- Cash -€18,478
down €18,478 (-6.3%), from €292,848 to €274,369
mainly Other debts (-€72,632) and Contributions, distributions and other (-€20,095)
- Receivables within one year +€11,171
up €11,171 (+7.6%), from €146,113 to €157,284
of which Trade receivables: +€10,011
- Reserves +€78,000
up €78,000 (+34.7%), from €224,595 to €302,595
of which Distributable reserves: +€78,000
- Other debts -€72,632
down €72,632 (-56.0%), from €129,775 to €57,143
- Tax, wage and social debts -€7,533
down €7,533 (-24.9%), from €30,217 to €22,684
of which Taxes: -€5,459
- Trade debts -€7,052
down €7,052 (-16.3%), from €43,335 to €36,284
- Gross operating margin +€62,820
up €62,820 (+26.2%), from €240,222 to €303,042
- Write-downs +€12,724
up €12,724 (+155%), from €8,230 to €20,954
- Staff costs +€9,188
up €9,188 (+6.9%), from €133,447 to €142,635
- Financial charges -€6,420
down €6,420 (-81.2%), from €7,905 to €1,484
- Taxes +€3,239
up €3,239 (+11.5%), from €28,092 to €31,331
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 | €459,720 | €450,399 | -€9,321 | -2.0% |
| Fixed assets | 21/28 | €12,555 | €13,369 | +€814 | +6.5% |
| Intangible fixed assets | 21 | €2,321 | €1,814 | -€507 | -21.8% |
| Tangible fixed assets | 22/27 | €1,464 | €1,100 | -€364 | -24.9% |
| Plant, machinery and equipment | 23 | €737 | €372 | -€364 | -49.5% |
| Furniture and vehicles | 24 | €728 | €728 | = | 0.0% |
| Other tangible fixed assets | 26 | €0 | €0 | = | 0.0% |
| Financial fixed assets | 28 | €8,770 | €10,455 | +€1,685 | +19.2% |
| Current assets | 29/58 | €447,165 | €437,030 | -€10,135 | -2.3% |
| Amounts receivable within one year | 40/41 | €146,113 | €157,284 | +€11,171 | +7.6% |
| Trade receivables | 40 | €142,554 | €152,566 | +€10,011 | +7.0% |
| Other amounts receivable | 41 | €3,558 | €4,718 | +€1,160 | +32.6% |
| Cash at bank and in hand | 54/58 | €292,848 | €274,369 | -€18,478 | -6.3% |
| Deferred charges and accrued income | 490/1 | €8,204 | €5,377 | -€2,828 | -34.5% |
| Total equity and liabilities | 10/49 | €459,720 | €450,399 | -€9,321 | -2.0% |
| Equity | 10/15 | €256,392 | €334,288 | +€77,895 | +30.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €224,595 | €302,595 | +€78,000 | +34.7% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €221,595 | €299,595 | +€78,000 | +35.2% |
| Profit (loss) carried forward | 14 | €1,797 | €1,692 | -€105 | -5.8% |
| Amounts payable | 17/49 | €203,327 | €116,111 | -€87,216 | -42.9% |
| Amounts payable within one year | 42/48 | €203,327 | €116,111 | -€87,216 | -42.9% |
| Trade debts | 44 | €43,335 | €36,284 | -€7,052 | -16.3% |
| Suppliers | 440/4 | €43,335 | €36,284 | -€7,052 | -16.3% |
| Taxes, remuneration and social security | 45 | €30,217 | €22,684 | -€7,533 | -24.9% |
| Taxes | 450/3 | €25,427 | €19,968 | -€5,459 | -21.5% |
| Remuneration and social security | 454/9 | €4,791 | €2,716 | -€2,074 | -43.3% |
| Other amounts payable | 47/48 | €129,775 | €57,143 | -€72,632 | -56.0% |
| Remuneration, social security and pensions | 62 | €133,447 | €142,635 | +€9,188 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,069 | €871 | -€198 | -18.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,230 | €20,954 | +€12,724 | +155% |
| Other operating charges | 640/8 | €3,672 | €2,654 | -€1,019 | -27.7% |
| Non-recurring operating charges | 66A | - | €5,300 | +€5,300 | |
| Gross operating margin | 9900 | €240,222 | €303,042 | +€62,820 | +26.2% |
| Operating profit (loss) | 9901 | €93,803 | €130,628 | +€36,825 | +39.3% |
| Financial income | 75/76B | €568 | €177 | -€391 | -68.8% |
| Recurring financial income | 75 | €568 | €177 | -€391 | -68.8% |
| Financial charges | 65/66B | €7,905 | €1,484 | -€6,420 | -81.2% |
| Recurring financial charges | 65 | €7,905 | €1,484 | -€6,420 | -81.2% |
| Profit (loss) for the period before taxes | 9903 | €86,466 | €129,321 | +€42,855 | +49.6% |
| Income taxes | 67/77 | €28,092 | €31,331 | +€3,239 | +11.5% |
| Profit (loss) for the period | 9904 | €58,374 | €97,990 | +€39,616 | +67.9% |
| Profit (loss) for the period to be appropriated | 9905 | €58,374 | €97,990 | +€39,616 | +67.9% |
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 27 October 2026 via checked.be.