BHOBO 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.
What changed
BHOBO GROUP
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€77,073
2024 · €72,221+€4,852
Equity
€1.2m
2024 · €1.2m-€38,469
Cash
€82,530
2024 · €0+€82,530
Balance sheet total
€3.2m
2024 · €2.8m+€394,079
Largest movements
Assets
- Tangible fixed assets +€321,750
up €321,750 (+17.3%), from €1.9m to €2.2m
of which Land and buildings: +€381,226
- Cash +€82,530
up €82,530, from €0 to €82,530
mainly Debts after one year (+€523,063) and Depreciation (+€121,531)
Equity and liabilities
- Debts after one year +€523,063
up €523,063 (+50.3%), from €1.0m to €1.6m
- Short-term financial debts -€222,095
down €222,095 (-96.4%), from €230,504 to €8,409
- Other debts +€62,783
up €62,783 (+146%), from €43,123 to €105,905
- Reserves -€38,469
down €38,469 (-6.0%), from €637,006 to €598,537
of which Distributable reserves: -€130,429
Income statement
- Gross operating margin +€184,602
up €184,602 (+76.4%), from €241,693 to €426,295
- Financial income -€47,722
down €47,722 (-93.7%), from €50,905 to €3,183
- Financial charges +€11,916
up €11,916 (+29.0%), from €41,105 to €53,021
- Depreciation -€11,407
down €11,407 (-8.6%), from €132,938 to €121,531
- Taxes -€11,033
down €11,033 (-37.3%), from €29,565 to €18,533
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.
Result 2024
€72,221
Gross operating margin
+€184,602
Depreciation
+€11,407
Other operating charges
-€676
Other operating items
-€111,222
Financial income
-€47,722
Financial charges
-€11,916
Taxes
+€11,033
Deferred taxes and other
-€30,653
Result 2025
€77,073
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€311,509
Investment
-€443,281
Financing
+€214,302
Cash 2024
€0
From operations (derived)
+€311,509
Net result for the year
+€77,073
Depreciation
+€121,531
Receivables within one year
+€7,375
Deferred charges and accrued income
+€2,825
Provisions
+€30,653
Trade debts
+€15,856
Tax, wage and social debts
-€8,979
Other debts
+€62,783
Accrued charges and deferred income
+€2,391
Investment (derived)
-€443,281
Investment in fixed assets (net)
-€443,281
Financing
+€214,302
Debts after one year
+€523,063
Current portion of long-term debt
+€28,877
Short-term financial debts
-€222,095
Contributions, distributions and other
-€115,542
Cash 2025
€82,530
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,767,949 | €3,162,028 | +€394,079 | +14.2% |
| Fixed assets | 21/28 | €2,686,972 | €3,008,723 | +€321,750 | +12.0% |
| Tangible fixed assets | 22/27 | €1,857,222 | €2,178,972 | +€321,750 | +17.3% |
| Land and buildings | 22 | €1,750,876 | €2,132,101 | +€381,226 | +21.8% |
| Furniture and vehicles | 24 | €1,658 | €5,869 | +€4,210 | +254% |
| Leasing and similar rights | 25 | €68,525 | €41,003 | -€27,523 | -40.2% |
| Assets under construction and advance payments | 27 | €36,163 | €0 | -€36,163 | -100% |
| Financial fixed assets | 28 | €829,750 | €829,750 | = | 0.0% |
| Current assets | 29/58 | €80,976 | €153,305 | +€72,329 | +89.3% |
| Amounts receivable within one year | 40/41 | €29,212 | €21,836 | -€7,375 | -25.2% |
| Trade receivables | 40 | €6,050 | €6,050 | = | 0.0% |
| Other amounts receivable | 41 | €23,162 | €15,786 | -€7,375 | -31.8% |
| Current investments | 50/53 | €44,259 | €44,259 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €0 | €82,530 | +€82,530 | |
| Deferred charges and accrued income | 490/1 | €7,506 | €4,680 | -€2,825 | -37.6% |
| Total equity and liabilities | 10/49 | €2,767,949 | €3,162,028 | +€394,079 | +14.2% |
| Equity | 10/15 | €1,213,006 | €1,174,537 | -€38,469 | -3.2% |
| Contributions | 10/11 | €576,000 | €576,000 | = | 0.0% |
| Reserves | 13 | €637,006 | €598,537 | -€38,469 | -6.0% |
| Tax-exempt reserves | 132 | €10,539 | €102,499 | +€91,960 | +873% |
| Distributable reserves | 133 | €626,467 | €496,038 | -€130,429 | -20.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | - | €30,653 | +€30,653 | |
| Deferred taxes | 168 | - | €30,653 | +€30,653 | |
| Amounts payable | 17/49 | €1,554,943 | €1,956,837 | +€401,895 | +25.8% |
| Amounts payable after more than one year | 17 | €1,039,274 | €1,562,337 | +€523,063 | +50.3% |
| Financial debts | 170/4 | €1,039,274 | €1,562,337 | +€523,063 | +50.3% |
| Amounts payable within one year | 42/48 | €514,737 | €391,178 | -€123,559 | -24.0% |
| Current portion of amounts payable after more than one year | 42 | €198,061 | €226,937 | +€28,877 | +14.6% |
| Financial debts | 43 | €230,504 | €8,409 | -€222,095 | -96.4% |
| Credit institutions | 430/8 | €230,504 | €8,409 | -€222,095 | -96.4% |
| Trade debts | 44 | €21,382 | €37,238 | +€15,856 | +74.2% |
| Suppliers | 440/4 | €21,382 | €37,238 | +€15,856 | +74.2% |
| Taxes, remuneration and social security | 45 | €21,667 | €12,688 | -€8,979 | -41.4% |
| Taxes | 450/3 | €19,458 | €12,688 | -€6,770 | -34.8% |
| Remuneration and social security | 454/9 | €2,209 | €0 | -€2,209 | -100% |
| Other amounts payable | 47/48 | €43,123 | €105,905 | +€62,783 | +146% |
| Accrued charges and deferred income | 492/3 | €931 | €3,322 | +€2,391 | +257% |
| Non-recurring operating income | 76A | - | €124,957 | +€124,957 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €132,938 | €121,531 | -€11,407 | -8.6% |
| Other operating charges | 640/8 | €16,769 | €17,445 | +€676 | +4.0% |
| Non-recurring operating charges | 66A | - | €111,222 | +€111,222 | |
| Gross operating margin | 9900 | €241,693 | €426,295 | +€184,602 | +76.4% |
| Operating profit (loss) | 9901 | €91,986 | €176,097 | +€84,111 | +91.4% |
| Financial income | 75/76B | €50,905 | €3,183 | -€47,722 | -93.7% |
| Recurring financial income | 75 | €50,905 | €3,183 | -€47,722 | -93.7% |
| Financial charges | 65/66B | €41,105 | €53,021 | +€11,916 | +29.0% |
| Recurring financial charges | 65 | €41,105 | €53,021 | +€11,916 | +29.0% |
| Profit (loss) for the period before taxes | 9903 | €101,787 | €126,259 | +€24,472 | +24.0% |
| Transfer from deferred taxes | 780 | - | €586 | +€586 | |
| Transfer to deferred taxes | 680 | - | €31,239 | +€31,239 | |
| Income taxes | 67/77 | €29,565 | €18,533 | -€11,033 | -37.3% |
| Profit (loss) for the period | 9904 | €72,221 | €77,073 | +€4,852 | +6.7% |
| Transfer from tax-exempt reserves | 789 | - | €1,758 | +€1,758 | |
| Transfer to tax-exempt reserves | 689 | - | €93,717 | +€93,717 | |
| Profit (loss) for the period to be appropriated | 9905 | €72,221 | -€14,887 | -€87,108 |
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 25 October 2026 via checked.be.