BHE SOLUTIONS: what changed
Two fiscal 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 SOLUTIONS
Largest movements
- Tangible fixed assets +€207,386
up €207,386 (+1114.3%), from €18,610 to €225,996
of which Land and buildings: +€187,563
- Receivables within one year -€102,887
down €102,887 (-75.0%), from €137,213 to €34,326
of which Trade receivables: -€61,067
- Intangible fixed assets -€34,375
down €34,375 (-48.0%), from €71,615 to €37,240
- Stocks and contracts +€20,000
up €20,000, from €0 to €20,000
of which Contracts in progress: +€20,000
- Cash +€12,806
up €12,806 (+15.2%), from €84,076 to €96,882
mainly Receivables within one year (+€102,887) and Debts after one year (+€59,922)
- Debts after one year +€59,922
up €59,922 (+60.1%), from €99,720 to €159,642
of which Other amounts payable: +€85,000
- Reserves +€39,000
up €39,000 (+37.9%), from €103,000 to €142,000
- Accrued charges and deferred income +€16,214
up €16,214 (+115.8%), from €13,997 to €30,211
- Tax, wage and social debts -€12,902
down €12,902 (-55.3%), from €23,325 to €10,423
of which Taxes: -€12,445
- Gross operating margin -€116,531
down €116,531 (-51.4%), from €226,900 to €110,369
- Taxes -€32,406
down €32,406 (-79.2%), from €40,925 to €8,519
- Financial charges +€4,602
up €4,602 (+124.4%), from €3,699 to €8,302
- Depreciation +€3,640
up €3,640 (+7.4%), from €49,456 to €53,097
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.
Cash bridge derived
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 | €314,761 | €418,586 | +€103,824 | +33.0% |
| Fixed assets | 21/28 | €90,225 | €263,236 | +€173,011 | +191.8% |
| Intangible fixed assets | 21 | €71,615 | €37,240 | -€34,375 | -48.0% |
| Tangible fixed assets | 22/27 | €18,610 | €225,996 | +€207,386 | +1114.3% |
| Land and buildings | 22 | - | €187,563 | +€187,563 | |
| Plant, machinery and equipment | 23 | €1,050 | €5,264 | +€4,214 | +401.3% |
| Furniture and vehicles | 24 | €17,560 | €8,467 | -€9,094 | -51.8% |
| Other tangible fixed assets | 26 | €0 | €24,702 | +€24,702 | |
| Current assets | 29/58 | €224,536 | €155,350 | -€69,186 | -30.8% |
| Stocks and contracts in progress | 3 | €0 | €20,000 | +€20,000 | |
| Stocks | 30/36 | €0 | - | = | |
| Contracts in progress | 37 | €0 | €20,000 | +€20,000 | |
| Amounts receivable within one year | 40/41 | €137,213 | €34,326 | -€102,887 | -75.0% |
| Trade receivables | 40 | €93,563 | €32,495 | -€61,067 | -65.3% |
| Other amounts receivable | 41 | €43,650 | €1,831 | -€41,819 | -95.8% |
| Cash at bank and in hand | 54/58 | €84,076 | €96,882 | +€12,806 | +15.2% |
| Deferred charges and accrued income | 490/1 | €3,247 | €4,141 | +€894 | +27.5% |
| Total equity and liabilities | 10/49 | €314,761 | €418,586 | +€103,824 | +33.0% |
| Equity | 10/15 | €122,067 | €160,839 | +€38,772 | +31.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €103,000 | €142,000 | +€39,000 | +37.9% |
| Distributable reserves | 133 | €103,000 | €142,000 | +€39,000 | +37.9% |
| Profit (loss) carried forward | 14 | €467 | €239 | -€228 | -48.8% |
| Amounts payable | 17/49 | €192,694 | €257,746 | +€65,052 | +33.8% |
| Amounts payable after more than one year | 17 | €99,720 | €159,642 | +€59,922 | +60.1% |
| Financial debts | 170/4 | €99,720 | €74,642 | -€25,078 | -25.1% |
| Other amounts payable | 178/9 | - | €85,000 | +€85,000 | |
| Amounts payable within one year | 42/48 | €78,978 | €67,893 | -€11,084 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | €24,443 | €25,078 | +€634 | +2.6% |
| Trade debts | 44 | €1,209 | €1,314 | +€105 | +8.6% |
| Suppliers | 440/4 | €1,209 | €1,314 | +€105 | +8.6% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €23,325 | €10,423 | -€12,902 | -55.3% |
| Taxes | 450/3 | €19,559 | €7,115 | -€12,445 | -63.6% |
| Remuneration and social security | 454/9 | €3,766 | €3,309 | -€457 | -12.1% |
| Other amounts payable | 47/48 | €30,000 | €31,078 | +€1,078 | +3.6% |
| Accrued charges and deferred income | 492/3 | €13,997 | €30,211 | +€16,214 | +115.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,456 | €53,097 | +€3,640 | +7.4% |
| Other operating charges | 640/8 | €1,673 | €1,822 | +€148 | +8.9% |
| Gross operating margin | 9900 | €226,900 | €110,369 | -€116,531 | -51.4% |
| Operating profit (loss) | 9901 | €175,771 | €55,451 | -€120,320 | -68.5% |
| Financial income | 75/76B | €2,088 | €142 | -€1,946 | -93.2% |
| Recurring financial income | 75 | €2,088 | €142 | -€1,946 | -93.2% |
| Financial charges | 65/66B | €3,699 | €8,302 | +€4,602 | +124.4% |
| Recurring financial charges | 65 | €3,699 | €8,302 | +€4,602 | +124.4% |
| Profit (loss) for the period before taxes | 9903 | €174,160 | €47,292 | -€126,868 | -72.8% |
| Income taxes | 67/77 | €40,925 | €8,519 | -€32,406 | -79.2% |
| Profit (loss) for the period | 9904 | €133,235 | €38,772 | -€94,462 | -70.9% |
| Profit (loss) for the period to be appropriated | 9905 | €133,235 | €38,772 | -€94,462 | -70.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.