BHF 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.
BHF GROUP
Largest movements
- Receivables within one year -€30,780
down €30,780 (-27.8%), from €110,617 to €79,838
of which Other amounts receivable: -€30,780
- Stocks and contracts -€15,000
no longer reported in 2025 (was €15,000)
- Cash -€5,561
down €5,561 (-99.9%), from €5,567 to €6
mainly Net result for the year (-€68,187) and Trade debts (-€2,720)
- Deferred charges and accrued income -€1,715
no longer reported in 2025 (was €1,715)
- Profit (loss) carried forward -€68,187
down €68,187, from €49,622 to -€18,565
- Tax, wage and social debts +€16,735
up €16,735 (+170%), from €9,873 to €26,608
of which Remuneration and social security: +€17,280
- Trade debts -€2,720
down €2,720 (-5.1%), from €53,172 to €50,452
- Purchases and services +€86,711
new in 2025: €86,711
- Turnover +€71,273
new in 2025: €71,273
- Gross operating margin -€31,023
down €31,023, from €21,040 to -€9,983
- Staff costs -€12,234
down €12,234 (-81.8%), from €14,961 to €2,727
- Taxes +€4,926
up €4,926 (+532%), from €925 to €5,851
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 | €134,017 | €79,844 | -€54,173 | -40.4% |
| Fixed assets | 21/28 | €1,118 | - | -€1,118 | |
| Tangible fixed assets | 22/27 | €1,101 | - | -€1,101 | |
| Plant, machinery and equipment | 23 | €1,101 | - | -€1,101 | |
| Financial fixed assets | 28 | €17 | - | -€17 | |
| Current assets | 29/58 | €132,899 | €79,844 | -€53,055 | -39.9% |
| Stocks and contracts in progress | 3 | €15,000 | - | -€15,000 | |
| Stocks | 30/36 | €15,000 | - | -€15,000 | |
| Amounts receivable within one year | 40/41 | €110,617 | €79,838 | -€30,780 | -27.8% |
| Trade receivables | 40 | €65,071 | €65,071 | = | 0.0% |
| Other amounts receivable | 41 | €45,546 | €14,767 | -€30,780 | -67.6% |
| Cash at bank and in hand | 54/58 | €5,567 | €6 | -€5,561 | -99.9% |
| Deferred charges and accrued income | 490/1 | €1,715 | - | -€1,715 | |
| Total equity and liabilities | 10/49 | €134,017 | €79,844 | -€54,173 | -40.4% |
| Equity | 10/15 | €70,082 | €1,895 | -€68,187 | -97.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Share premium | 1100/10 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,622 | -€18,565 | -€68,187 | |
| Amounts payable | 17/49 | €63,935 | €77,949 | +€14,014 | +21.9% |
| Amounts payable within one year | 42/48 | €63,935 | €77,949 | +€14,014 | +21.9% |
| Trade debts | 44 | €53,172 | €50,452 | -€2,720 | -5.1% |
| Suppliers | 440/4 | €53,172 | €50,452 | -€2,720 | -5.1% |
| Advances received on contracts in progress | 46 | €889 | €889 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €9,873 | €26,608 | +€16,735 | +170% |
| Taxes | 450/3 | €7,775 | €7,229 | -€545 | -7.0% |
| Remuneration and social security | 454/9 | €2,099 | €19,379 | +€17,280 | +823% |
| Turnover | 70 | - | €71,273 | +€71,273 | |
| Non-recurring operating income | 76A | - | €1,240 | +€1,240 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €86,711 | +€86,711 | |
| Remuneration, social security and pensions | 62 | €14,961 | €2,727 | -€12,234 | -81.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,101 | - | -€1,101 | |
| Other operating charges | 640/8 | €3,034 | €4,939 | +€1,904 | +62.8% |
| Non-recurring operating charges | 66A | €3,374 | €44,595 | +€41,221 | +1,222% |
| Gross operating margin | 9900 | €21,040 | -€9,983 | -€31,023 | |
| Operating profit (loss) | 9901 | -€1,431 | -€62,244 | -€60,812 | -4,249% |
| Financial income | 75/76B | €10 | - | -€10 | |
| Recurring financial income | 75 | €10 | - | -€10 | |
| Financial charges | 65/66B | €33 | €93 | +€60 | +181% |
| Recurring financial charges | 65 | €33 | €93 | +€60 | +181% |
| Profit (loss) for the period before taxes | 9903 | -€1,455 | -€62,337 | -€60,882 | -4,185% |
| Income taxes | 67/77 | €925 | €5,851 | +€4,926 | +532% |
| Profit (loss) for the period | 9904 | -€2,380 | -€68,187 | -€65,807 | -2,765% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,380 | -€68,187 | -€65,807 | -2,765% |
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 18 October 2026 via checked.be.