BHE GROUP: 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.
BHE GROUP
Largest movements
- Receivables within one year +€14,879
up €14,879 (+33.0%), from €45,056 to €59,935
of which Trade receivables: +€25,906
- Tangible fixed assets -€6,333
down €6,333 (-38.5%), from €16,440 to €10,107
- Cash +€2,417
new in 2025: €2,417
mainly Trade debts (+€8,533) and Net result for the year (+€7,058)
- Trade debts +€8,533
up €8,533 (+60.8%), from €14,035 to €22,569
- Debts after one year -€8,171
down €8,171 (-47.6%), from €17,171 to €9,000
of which Financial debts: -€8,171
- Profit (loss) carried forward +€7,058
up €7,058 (+61.5%), from €11,467 to €18,525
- Tax, wage and social debts +€3,832
up €3,832 (+84.3%), from €4,547 to €8,379
- Gross operating margin +€10,153
up €10,153 (+105%), from €9,680 to €19,833
- Taxes +€4,070
new in 2025: €4,070
- Other operating charges -€3,705
down €3,705 (-86.1%), from €4,300 to €596
- Financial charges -€1,359
down €1,359 (-43.3%), from €3,135 to €1,776
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 | €70,681 | €81,643 | +€10,963 | +15.5% |
| Fixed assets | 21/28 | €25,625 | €19,292 | -€6,333 | -24.7% |
| Tangible fixed assets | 22/27 | €16,440 | €10,107 | -€6,333 | -38.5% |
| Furniture and vehicles | 24 | €16,440 | €10,107 | -€6,333 | -38.5% |
| Financial fixed assets | 28 | €9,185 | €9,185 | = | 0.0% |
| Current assets | 29/58 | €45,056 | €62,352 | +€17,295 | +38.4% |
| Amounts receivable within one year | 40/41 | €45,056 | €59,935 | +€14,879 | +33.0% |
| Trade receivables | 40 | €14,985 | €40,891 | +€25,906 | +173% |
| Other amounts receivable | 41 | €30,071 | €19,044 | -€11,027 | -36.7% |
| Cash at bank and in hand | 54/58 | - | €2,417 | +€2,417 | |
| Total equity and liabilities | 10/49 | €70,681 | €81,643 | +€10,963 | +15.5% |
| Equity | 10/15 | €26,467 | €33,525 | +€7,058 | +26.7% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,467 | €18,525 | +€7,058 | +61.5% |
| Amounts payable | 17/49 | €44,214 | €48,119 | +€3,905 | +8.8% |
| Amounts payable after more than one year | 17 | €17,171 | €9,000 | -€8,171 | -47.6% |
| Financial debts | 170/4 | €8,171 | - | -€8,171 | |
| Other amounts payable | 178/9 | €9,000 | €9,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €27,043 | €39,119 | +€12,076 | +44.7% |
| Current portion of amounts payable after more than one year | 42 | €8,409 | €8,171 | -€238 | -2.8% |
| Financial debts | 43 | €51 | - | -€51 | |
| Credit institutions | 430/8 | €51 | - | -€51 | |
| Trade debts | 44 | €14,035 | €22,569 | +€8,533 | +60.8% |
| Suppliers | 440/4 | €14,035 | €22,569 | +€8,533 | +60.8% |
| Taxes, remuneration and social security | 45 | €4,547 | €8,379 | +€3,832 | +84.3% |
| Taxes | 450/3 | €4,547 | €8,379 | +€3,832 | +84.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,333 | €6,333 | = | 0.0% |
| Other operating charges | 640/8 | €4,300 | €596 | -€3,705 | -86.1% |
| Gross operating margin | 9900 | €9,680 | €19,833 | +€10,153 | +105% |
| Operating profit (loss) | 9901 | -€954 | €12,904 | +€13,858 | |
| Financial charges | 65/66B | €3,135 | €1,776 | -€1,359 | -43.3% |
| Recurring financial charges | 65 | €3,135 | €1,776 | -€1,359 | -43.3% |
| Profit (loss) for the period before taxes | 9903 | -€4,089 | €11,128 | +€15,217 | |
| Income taxes | 67/77 | - | €4,070 | +€4,070 | |
| Profit (loss) for the period | 9904 | -€4,089 | €7,058 | +€11,146 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,089 | €7,058 | +€11,146 |
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.