BHE 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.
BHE Management
Largest movements
- Cash +€95,055
up €95,055 (+28.5%), from €333,855 to €428,910
mainly Other debts (+€346,041) and Net result for the year (+€104,432)
- Tangible fixed assets +€9,679
up €9,679 (+1,285%), from €753 to €10,432
- Other debts +€346,041
up €346,041 (+4,537%), from €7,627 to €353,668
- Profit (loss) carried forward -€314,568
down €314,568 (-95.3%), from €329,968 to €15,399
- Tax, wage and social debts +€59,739
up €59,739 (+406%), from €14,709 to €74,449
- Accrued charges and deferred income +€12,094
up €12,094 (+967%), from €1,250 to €13,344
- Gross operating margin +€25,003
up €25,003 (+19.2%), from €130,203 to €155,206
- Financial charges +€11,337
up €11,337 (+1,047%), from €1,083 to €12,420
- Taxes +€8,298
up €8,298 (+30.5%), from €27,219 to €35,517
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 | €359,146 | €461,938 | +€102,793 | +28.6% |
| Fixed assets | 21/28 | €753 | €10,432 | +€9,679 | +1,285% |
| Tangible fixed assets | 22/27 | €753 | €10,432 | +€9,679 | +1,285% |
| Furniture and vehicles | 24 | €753 | €10,432 | +€9,679 | +1,285% |
| Current assets | 29/58 | €358,392 | €451,506 | +€93,114 | +26.0% |
| Amounts receivable within one year | 40/41 | €22,627 | €20,691 | -€1,936 | -8.6% |
| Trade receivables | 40 | €22,627 | €20,691 | -€1,936 | -8.6% |
| Cash at bank and in hand | 54/58 | €333,855 | €428,910 | +€95,055 | +28.5% |
| Deferred charges and accrued income | 490/1 | €1,910 | €1,905 | -€5 | -0.3% |
| Total equity and liabilities | 10/49 | €359,146 | €461,938 | +€102,793 | +28.6% |
| Equity | 10/15 | €334,968 | €20,399 | -€314,568 | -93.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €329,968 | €15,399 | -€314,568 | -95.3% |
| Amounts payable | 17/49 | €24,178 | €441,539 | +€417,361 | +1,726% |
| Amounts payable within one year | 42/48 | €22,928 | €428,196 | +€405,268 | +1,768% |
| Trade debts | 44 | €592 | €79 | -€513 | -86.7% |
| Suppliers | 440/4 | €592 | €79 | -€513 | -86.7% |
| Taxes, remuneration and social security | 45 | €14,709 | €74,449 | +€59,739 | +406% |
| Taxes | 450/3 | €14,709 | €74,449 | +€59,739 | +406% |
| Other amounts payable | 47/48 | €7,627 | €353,668 | +€346,041 | +4,537% |
| Accrued charges and deferred income | 492/3 | €1,250 | €13,344 | +€12,094 | +967% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,023 | €1,995 | +€972 | +95.0% |
| Other operating charges | 640/8 | €970 | €843 | -€127 | -13.1% |
| Gross operating margin | 9900 | €130,203 | €155,206 | +€25,003 | +19.2% |
| Operating profit (loss) | 9901 | €128,210 | €152,368 | +€24,158 | +18.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €1,083 | €12,420 | +€11,337 | +1,047% |
| Recurring financial charges | 65 | €1,083 | €12,420 | +€11,337 | +1,047% |
| Profit (loss) for the period before taxes | 9903 | €127,128 | €139,948 | +€12,821 | +10.1% |
| Income taxes | 67/77 | €27,219 | €35,517 | +€8,298 | +30.5% |
| Profit (loss) for the period | 9904 | €99,909 | €104,432 | +€4,523 | +4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €99,909 | €104,432 | +€4,523 | +4.5% |
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 22 October 2026 via checked.be.