BHI: 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.
BHI
Largest movements
- Receivables within one year -€72,423
down €72,423 (-21.6%), from €335,174 to €262,751
of which Other amounts receivable: -€57,393
- Cash -€51,860
down €51,860 (-50.8%), from €102,062 to €50,202
mainly Trade debts (-€93,100) and Debts after one year (-€73,908)
- Tangible fixed assets -€23,564
down €23,564 (-2.1%), from €1.1m to €1.1m
of which Land and buildings: -€26,423
- Trade debts -€93,100
no longer reported in 2025 (was €93,100)
- Other debts +€76,335
up €76,335 (+3461.9%), from €2,205 to €78,540
- Debts after one year -€73,908
down €73,908 (-6.2%), from €1.2m to €1.1m
of which Financial debts: -€73,908
- Reserves -€31,762
down €31,762 (-21.6%), from €147,025 to €115,263
- Short-term financial debts -€19,059
no longer reported in 2025 (was €19,059)
- Gross operating margin -€226,976
down €226,976 (-77.4%), from €293,335 to €66,359
- Taxes -€33,423
no longer reported in 2025 (was €33,423)
- Depreciation +€22,603
up €22,603 (+40.4%), from €55,979 to €78,582
- Financial charges -€16,436
down €16,436 (-47.1%), from €34,911 to €18,474
- Other operating charges -€3,734
down €3,734 (-66.9%), from €5,584 to €1,850
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 | €1,579,715 | €1,438,587 | -€141,128 | -8.9% |
| Fixed assets | 21/28 | €1,139,363 | €1,122,518 | -€16,845 | -1.5% |
| Intangible fixed assets | 21 | - | €6,719 | +€6,719 | |
| Tangible fixed assets | 22/27 | €1,139,363 | €1,115,799 | -€23,564 | -2.1% |
| Land and buildings | 22 | €672,345 | €645,922 | -€26,423 | -3.9% |
| Plant, machinery and equipment | 23 | €144,981 | €125,471 | -€19,510 | -13.5% |
| Furniture and vehicles | 24 | €47,188 | €36,492 | -€10,696 | -22.7% |
| Other tangible fixed assets | 26 | €274,849 | €307,914 | +€33,065 | +12.0% |
| Current assets | 29/58 | €440,352 | €316,069 | -€124,283 | -28.2% |
| Amounts receivable within one year | 40/41 | €335,174 | €262,751 | -€72,423 | -21.6% |
| Trade receivables | 40 | €272,167 | €257,137 | -€15,030 | -5.5% |
| Other amounts receivable | 41 | €63,007 | €5,614 | -€57,393 | -91.1% |
| Cash at bank and in hand | 54/58 | €102,062 | €50,202 | -€51,860 | -50.8% |
| Deferred charges and accrued income | 490/1 | €3,116 | €3,116 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,579,715 | €1,438,587 | -€141,128 | -8.9% |
| Equity | 10/15 | €187,025 | €155,263 | -€31,762 | -17.0% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €147,025 | €115,263 | -€31,762 | -21.6% |
| Distributable reserves | 133 | €147,025 | €115,263 | -€31,762 | -21.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,392,690 | €1,283,324 | -€109,366 | -7.9% |
| Amounts payable after more than one year | 17 | €1,201,434 | €1,127,526 | -€73,908 | -6.2% |
| Financial debts | 170/4 | €870,798 | €796,890 | -€73,908 | -8.5% |
| Other amounts payable | 178/9 | €330,636 | €330,636 | = | 0.0% |
| Amounts payable within one year | 42/48 | €191,255 | €155,798 | -€35,458 | -18.5% |
| Current portion of amounts payable after more than one year | 42 | €76,891 | €73,739 | -€3,152 | -4.1% |
| Financial debts | 43 | €19,059 | - | -€19,059 | |
| Credit institutions | 430/8 | €19,059 | - | -€19,059 | |
| Trade debts | 44 | €93,100 | - | -€93,100 | |
| Suppliers | 440/4 | €93,100 | - | -€93,100 | |
| Taxes, remuneration and social security | 45 | €0 | €3,518 | +€3,518 | |
| Taxes | 450/3 | €0 | €3,518 | +€3,518 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €2,205 | €78,540 | +€76,335 | +3461.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €193,975 | - | -€193,975 | |
| Remuneration, social security and pensions | 62 | €1,752 | - | -€1,752 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,979 | €78,582 | +€22,603 | +40.4% |
| Other operating charges | 640/8 | €5,584 | €1,850 | -€3,734 | -66.9% |
| Non-recurring operating charges | 66A | €14,573 | - | -€14,573 | |
| Gross operating margin | 9900 | €293,335 | €66,359 | -€226,976 | -77.4% |
| Operating profit (loss) | 9901 | €215,447 | -€14,073 | -€229,521 | |
| Financial income | 75/76B | €697 | - | -€697 | |
| Recurring financial income | 75 | €697 | - | -€697 | |
| Financial charges | 65/66B | €34,911 | €18,474 | -€16,436 | -47.1% |
| Recurring financial charges | 65 | €34,911 | €18,474 | -€16,436 | -47.1% |
| Profit (loss) for the period before taxes | 9903 | €181,234 | -€32,548 | -€213,781 | |
| Income taxes | 67/77 | €33,423 | - | -€33,423 | |
| Profit (loss) for the period | 9904 | €147,811 | -€32,548 | -€180,358 | |
| Profit (loss) for the period to be appropriated | 9905 | €147,811 | -€32,548 | -€180,358 |
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 11 October 2026 via checked.be.