BH45: 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.
BH45
Largest movements
- Cash +€3,344
up €3,344 (+42.2%), from €7,928 to €11,272
mainly Net result for the year (+€13,139) and Receivables within one year (+€2,062)
- Receivables within one year -€2,062
down €2,062 (-12.1%), from €17,078 to €15,016
of which Trade receivables: -€3,555
- Stocks and contracts -€752
down €752 (-47.2%), from €1,595 to €843
- Profit (loss) carried forward +€13,139
up €13,139 (+55.7%), from -€23,600 to -€10,461
- Trade debts -€5,714
down €5,714 (-37.6%), from €15,184 to €9,471
- Tax, wage and social debts -€5,587
down €5,587 (-58.6%), from €9,533 to €3,946
of which Remuneration and social security: -€5,937
- Other debts -€3,568
down €3,568 (-26.3%), from €13,572 to €10,004
- Accrued charges and deferred income +€2,000
new in 2025: €2,000
- Staff costs -€17,262
down €17,262 (-79.2%), from €21,787 to €4,525
- Gross operating margin -€6,415
down €6,415 (-25.4%), from €25,256 to €18,842
- Other operating charges -€412
down €412 (-55.4%), from €744 to €332
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 | €29,691 | €29,960 | +€270 | +0.9% |
| Fixed assets | 21/28 | €3,091 | €2,831 | -€260 | -8.4% |
| Tangible fixed assets | 22/27 | €591 | €331 | -€260 | -44.0% |
| Plant, machinery and equipment | 23 | €591 | €331 | -€260 | -44.0% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €26,600 | €27,130 | +€530 | +2.0% |
| Stocks and contracts in progress | 3 | €1,595 | €843 | -€752 | -47.2% |
| Stocks | 30/36 | €1,595 | €843 | -€752 | -47.2% |
| Amounts receivable within one year | 40/41 | €17,078 | €15,016 | -€2,062 | -12.1% |
| Trade receivables | 40 | €13,772 | €10,217 | -€3,555 | -25.8% |
| Other amounts receivable | 41 | €3,306 | €4,799 | +€1,493 | +45.2% |
| Cash at bank and in hand | 54/58 | €7,928 | €11,272 | +€3,344 | +42.2% |
| Total equity and liabilities | 10/49 | €29,691 | €29,960 | +€270 | +0.9% |
| Equity | 10/15 | -€8,599 | €4,540 | +€13,139 | |
| Contributions | 10/11 | €15,001 | €15,001 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,600 | -€10,461 | +€13,139 | +55.7% |
| Amounts payable | 17/49 | €38,289 | €25,420 | -€12,869 | -33.6% |
| Amounts payable within one year | 42/48 | €38,289 | €23,420 | -€14,869 | -38.8% |
| Trade debts | 44 | €15,184 | €9,471 | -€5,714 | -37.6% |
| Suppliers | 440/4 | €15,184 | €9,471 | -€5,714 | -37.6% |
| Taxes, remuneration and social security | 45 | €9,533 | €3,946 | -€5,587 | -58.6% |
| Taxes | 450/3 | - | €350 | +€350 | |
| Remuneration and social security | 454/9 | €9,533 | €3,596 | -€5,937 | -62.3% |
| Other amounts payable | 47/48 | €13,572 | €10,004 | -€3,568 | -26.3% |
| Accrued charges and deferred income | 492/3 | - | €2,000 | +€2,000 | |
| Remuneration, social security and pensions | 62 | €21,787 | €4,525 | -€17,262 | -79.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €260 | €260 | = | 0.0% |
| Other operating charges | 640/8 | €744 | €332 | -€412 | -55.4% |
| Gross operating margin | 9900 | €25,256 | €18,842 | -€6,415 | -25.4% |
| Operating profit (loss) | 9901 | €2,465 | €13,724 | +€11,260 | +457% |
| Financial income | 75/76B | €0 | €0 | -€0 | -80.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -80.0% |
| Financial charges | 65/66B | €484 | €586 | +€102 | +21.1% |
| Recurring financial charges | 65 | €484 | €586 | +€102 | +21.1% |
| Profit (loss) for the period before taxes | 9903 | €1,981 | €13,139 | +€11,157 | +563% |
| Profit (loss) for the period | 9904 | €1,981 | €13,139 | +€11,157 | +563% |
| Profit (loss) for the period to be appropriated | 9905 | €1,981 | €13,139 | +€11,157 | +563% |
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 14 October 2026 via checked.be.