BHConsult & Project Management: 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.
BHConsult & Project Management
Largest movements
- Cash +€389,035
up €389,035 (+274%), from €142,076 to €531,111
mainly Advances received (+€508,540) and Trade debts (+€209,498)
- Stocks and contracts +€311,427
up €311,427 (+252%), from €123,629 to €435,056
- Receivables within one year +€70,670
up €70,670 (+530%), from €13,338 to €84,008
of which Trade receivables: +€62,235
- Advances received +€508,540
new in 2025: €508,540
- Trade debts +€209,498
up €209,498 (+3,891%), from €5,384 to €214,882
- Other debts +€45,329
up €45,329 (+755%), from €6,000 to €51,329
- Gross operating margin -€45,231
down €45,231 (-33.7%), from €134,353 to €89,122
- Taxes -€10,385
down €10,385 (-38.0%), from €27,327 to €16,941
- Depreciation -€1,953
down €1,953 (-27.1%), from €7,196 to €5,244
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 | €293,240 | €1,063,327 | +€770,088 | +263% |
| Fixed assets | 21/28 | €14,101 | €13,053 | -€1,048 | -7.4% |
| Tangible fixed assets | 22/27 | €14,101 | €13,053 | -€1,048 | -7.4% |
| Plant, machinery and equipment | 23 | - | €1,521 | +€1,521 | |
| Furniture and vehicles | 24 | €14,101 | €11,532 | -€2,568 | -18.2% |
| Current assets | 29/58 | €279,139 | €1,050,275 | +€771,136 | +276% |
| Stocks and contracts in progress | 3 | €123,629 | €435,056 | +€311,427 | +252% |
| Stocks | 30/36 | €123,629 | €435,056 | +€311,427 | +252% |
| Amounts receivable within one year | 40/41 | €13,338 | €84,008 | +€70,670 | +530% |
| Trade receivables | 40 | €11,547 | €73,782 | +€62,235 | +539% |
| Other amounts receivable | 41 | €1,791 | €10,226 | +€8,435 | +471% |
| Cash at bank and in hand | 54/58 | €142,076 | €531,111 | +€389,035 | +274% |
| Deferred charges and accrued income | 490/1 | €96 | €100 | +€4 | +4.0% |
| Total equity and liabilities | 10/49 | €293,240 | €1,063,327 | +€770,088 | +263% |
| Equity | 10/15 | €272,312 | €279,388 | +€7,076 | +2.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €250,000 | €260,000 | +€10,000 | +4.0% |
| Distributable reserves | 133 | €250,000 | €260,000 | +€10,000 | +4.0% |
| Profit (loss) carried forward | 14 | €3,712 | €788 | -€2,924 | -78.8% |
| Amounts payable | 17/49 | €20,928 | €783,939 | +€763,011 | +3,646% |
| Amounts payable within one year | 42/48 | €20,928 | €783,939 | +€763,011 | +3,646% |
| Trade debts | 44 | €5,384 | €214,882 | +€209,498 | +3,891% |
| Suppliers | 440/4 | €5,384 | €214,882 | +€209,498 | +3,891% |
| Advances received on contracts in progress | 46 | - | €508,540 | +€508,540 | |
| Taxes, remuneration and social security | 45 | €9,544 | €9,188 | -€356 | -3.7% |
| Taxes | 450/3 | €7,544 | €7,188 | -€356 | -4.7% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Other amounts payable | 47/48 | €6,000 | €51,329 | +€45,329 | +755% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,196 | €5,244 | -€1,953 | -27.1% |
| Other operating charges | 640/8 | €7,104 | €6,320 | -€784 | -11.0% |
| Gross operating margin | 9900 | €134,353 | €89,122 | -€45,231 | -33.7% |
| Operating profit (loss) | 9901 | €120,052 | €77,558 | -€42,494 | -35.4% |
| Financial income | 75/76B | - | €30 | +€30 | |
| Recurring financial income | 75 | - | €30 | +€30 | |
| Financial charges | 65/66B | €3,999 | €3,571 | -€428 | -10.7% |
| Recurring financial charges | 65 | €3,999 | €3,571 | -€428 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €116,054 | €74,018 | -€42,036 | -36.2% |
| Income taxes | 67/77 | €27,327 | €16,941 | -€10,385 | -38.0% |
| Profit (loss) for the period | 9904 | €88,727 | €57,076 | -€31,651 | -35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €88,727 | €57,076 | -€31,651 | -35.7% |
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 25 October 2026 via checked.be.