BHB WINDOWS: 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.
BHB WINDOWS
Largest movements
- Tangible fixed assets -€119,361
down €119,361 (-19.4%), from €616,592 to €497,231
of which Furniture and vehicles: -€62,209
- Receivables within one year +€81,852
up €81,852 (+8.8%), from €933,030 to €1.0m
of which Trade receivables: +€73,994
- Cash +€53,289
up €53,289 (+31.2%), from €170,659 to €223,947
mainly Depreciation (+€122,934) and Trade debts (+€65,238)
- Stocks and contracts -€38,169
down €38,169 (-12.8%), from €299,051 to €260,882
- Trade debts +€65,238
up €65,238 (+5.2%), from €1.2m to €1.3m
- Debts after one year -€63,282
down €63,282 (-17.5%), from €360,593 to €297,311
- Profit (loss) carried forward -€25,178
down €25,178 (-22.8%), from €110,595 to €85,417
- Gross operating margin -€106,540
down €106,540 (-12.8%), from €829,854 to €723,314
- Write-downs -€35,778
no longer reported in 2025 (was €35,778)
- Staff costs -€33,545
down €33,545 (-5.4%), from €622,157 to €588,612
- Taxes +€10,794
new in 2025: €10,794
- Other operating charges -€8,984
down €8,984 (-90.0%), from €9,983 to €998
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 | €2,028,140 | €2,005,158 | -€22,982 | -1.1% |
| Fixed assets | 21/28 | €616,592 | €497,231 | -€119,361 | -19.4% |
| Tangible fixed assets | 22/27 | €616,592 | €497,231 | -€119,361 | -19.4% |
| Plant, machinery and equipment | 23 | €9,382 | €7,187 | -€2,194 | -23.4% |
| Furniture and vehicles | 24 | €178,021 | €115,812 | -€62,209 | -34.9% |
| Other tangible fixed assets | 26 | €429,189 | €374,231 | -€54,958 | -12.8% |
| Current assets | 29/58 | €1,411,548 | €1,507,928 | +€96,380 | +6.8% |
| Stocks and contracts in progress | 3 | €299,051 | €260,882 | -€38,169 | -12.8% |
| Stocks | 30/36 | €299,051 | €260,882 | -€38,169 | -12.8% |
| Amounts receivable within one year | 40/41 | €933,030 | €1,014,883 | +€81,852 | +8.8% |
| Trade receivables | 40 | €926,519 | €1,000,512 | +€73,994 | +8.0% |
| Other amounts receivable | 41 | €6,511 | €14,370 | +€7,859 | +121% |
| Cash at bank and in hand | 54/58 | €170,659 | €223,947 | +€53,289 | +31.2% |
| Deferred charges and accrued income | 490/1 | €8,808 | €8,216 | -€592 | -6.7% |
| Total equity and liabilities | 10/49 | €2,028,140 | €2,005,158 | -€22,982 | -1.1% |
| Equity | 10/15 | €218,786 | €193,608 | -€25,178 | -11.5% |
| Contributions | 10/11 | €63,128 | €63,128 | = | 0.0% |
| Capital | 10 | €63,128 | - | -€63,128 | |
| Issued capital | 100 | €63,128 | - | -€63,128 | |
| Reserves | 13 | €45,063 | €45,063 | = | 0.0% |
| Non-distributable reserves | 130/1 | €45,063 | €6,313 | -€38,750 | -86.0% |
| Legal reserve | 130 | €6,313 | - | -€6,313 | |
| Reserves not available under the articles | 1311 | - | €6,313 | +€6,313 | |
| Other | 1319 | €38,750 | - | -€38,750 | |
| Tax-exempt reserves | 132 | - | €38,750 | +€38,750 | |
| Profit (loss) carried forward | 14 | €110,595 | €85,417 | -€25,178 | -22.8% |
| Amounts payable | 17/49 | €1,809,354 | €1,811,550 | +€2,196 | +0.1% |
| Amounts payable after more than one year | 17 | €360,593 | €297,311 | -€63,282 | -17.5% |
| Financial debts | 170/4 | €360,593 | €297,311 | -€63,282 | -17.5% |
| Amounts payable within one year | 42/48 | €1,448,760 | €1,514,239 | +€65,479 | +4.5% |
| Current portion of amounts payable after more than one year | 42 | €62,488 | €63,282 | +€794 | +1.3% |
| Trade debts | 44 | €1,247,512 | €1,312,750 | +€65,238 | +5.2% |
| Suppliers | 440/4 | €1,247,512 | €1,312,750 | +€65,238 | +5.2% |
| Taxes, remuneration and social security | 45 | €138,760 | €138,207 | -€553 | -0.4% |
| Taxes | 450/3 | €97,546 | €97,347 | -€199 | -0.2% |
| Remuneration and social security | 454/9 | €41,214 | €40,860 | -€354 | -0.9% |
| Remuneration, social security and pensions | 62 | €622,157 | €588,612 | -€33,545 | -5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €125,463 | €122,934 | -€2,529 | -2.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €35,778 | - | -€35,778 | |
| Other operating charges | 640/8 | €9,983 | €998 | -€8,984 | -90.0% |
| Gross operating margin | 9900 | €829,854 | €723,314 | -€106,540 | -12.8% |
| Operating profit (loss) | 9901 | €36,474 | €10,770 | -€25,704 | -70.5% |
| Financial income | 75/76B | €11,699 | €12,689 | +€990 | +8.5% |
| Recurring financial income | 75 | €11,699 | €12,689 | +€990 | +8.5% |
| Financial charges | 65/66B | €45,758 | €37,843 | -€7,915 | -17.3% |
| Recurring financial charges | 65 | €45,758 | €35,423 | -€10,335 | -22.6% |
| Non-recurring financial charges | 66B | - | €2,420 | +€2,420 | |
| Profit (loss) for the period before taxes | 9903 | €2,415 | -€14,384 | -€16,800 | |
| Income taxes | 67/77 | - | €10,794 | +€10,794 | |
| Profit (loss) for the period | 9904 | €2,415 | -€25,178 | -€27,593 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,415 | -€25,178 | -€27,593 |
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 17 October 2026 via checked.be.