BHZ: 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.
BHZ
Largest movements
- Cash -€18,941
down €18,941 (-65.5%), from €28,937 to €9,996
mainly Debts after one year (-€171,662) and Receivables within one year (-€1,069)
- Stocks and contracts -€12,800
down €12,800 (-79.3%), from €16,150 to €3,350
- Debts after one year -€171,662
down €171,662 (-45.2%), from €380,180 to €208,518
of which Other amounts payable: -€149,998
- Profit (loss) carried forward +€114,819
up €114,819 (+103%), from €111,825 to €226,644
- Other debts +€25,244
up €25,244 (+80.0%), from €31,573 to €56,816
- Financial income +€71,948
up €71,948 (+144%), from €50,050 to €121,998
- Gross operating margin -€20,461
down €20,461, from €20,088 to -€373
- Taxes -€2,405
down €2,405 (-75.0%), from €3,206 to €802
- Other operating charges +€1,615
up €1,615 (+106%), from €1,523 to €3,138
- Financial charges -€752
down €752 (-20.8%), from €3,618 to €2,867
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 | €1,075,949 | €1,045,075 | -€30,874 | -2.9% |
| Fixed assets | 21/28 | €1,026,667 | €1,026,667 | = | 0.0% |
| Financial fixed assets | 28 | €1,026,667 | €1,026,667 | = | 0.0% |
| Current assets | 29/58 | €49,282 | €18,408 | -€30,874 | -62.6% |
| Stocks and contracts in progress | 3 | €16,150 | €3,350 | -€12,800 | -79.3% |
| Stocks | 30/36 | €16,150 | €3,350 | -€12,800 | -79.3% |
| Amounts receivable within one year | 40/41 | €2,561 | €3,630 | +€1,069 | +41.8% |
| Trade receivables | 40 | €2,561 | €3,630 | +€1,069 | +41.8% |
| Cash at bank and in hand | 54/58 | €28,937 | €9,996 | -€18,941 | -65.5% |
| Deferred charges and accrued income | 490/1 | €1,634 | €1,432 | -€202 | -12.4% |
| Total equity and liabilities | 10/49 | €1,075,949 | €1,045,075 | -€30,874 | -2.9% |
| Equity | 10/15 | €635,371 | €750,190 | +€114,819 | +18.1% |
| Contributions | 10/11 | €523,547 | €523,547 | = | 0.0% |
| Profit (loss) carried forward | 14 | €111,825 | €226,644 | +€114,819 | +103% |
| Amounts payable | 17/49 | €440,577 | €294,884 | -€145,693 | -33.1% |
| Amounts payable after more than one year | 17 | €380,180 | €208,518 | -€171,662 | -45.2% |
| Financial debts | 170/4 | €80,760 | €59,096 | -€21,664 | -26.8% |
| Other amounts payable | 178/9 | €299,420 | €149,422 | -€149,998 | -50.1% |
| Amounts payable within one year | 42/48 | €60,307 | €86,366 | +€26,059 | +43.2% |
| Current portion of amounts payable after more than one year | 42 | €21,018 | €21,664 | +€646 | +3.1% |
| Trade debts | 44 | €1,342 | €2,063 | +€722 | +53.8% |
| Suppliers | 440/4 | €1,342 | €2,063 | +€722 | +53.8% |
| Taxes, remuneration and social security | 45 | €6,374 | €5,822 | -€552 | -8.7% |
| Taxes | 450/3 | €4,874 | €4,322 | -€552 | -11.3% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €31,573 | €56,816 | +€25,244 | +80.0% |
| Accrued charges and deferred income | 492/3 | €90 | - | -€90 | |
| Other operating charges | 640/8 | €1,523 | €3,138 | +€1,615 | +106% |
| Gross operating margin | 9900 | €20,088 | -€373 | -€20,461 | |
| Operating profit (loss) | 9901 | €18,565 | -€3,510 | -€22,075 | |
| Financial income | 75/76B | €50,050 | €121,998 | +€71,948 | +144% |
| Recurring financial income | 75 | €50,050 | €121,998 | +€71,948 | +144% |
| Financial charges | 65/66B | €3,618 | €2,867 | -€752 | -20.8% |
| Recurring financial charges | 65 | €3,618 | €2,867 | -€752 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €64,997 | €115,621 | +€50,624 | +77.9% |
| Income taxes | 67/77 | €3,206 | €802 | -€2,405 | -75.0% |
| Profit (loss) for the period | 9904 | €61,791 | €114,819 | +€53,029 | +85.8% |
| Profit (loss) for the period to be appropriated | 9905 | €61,791 | €114,819 | +€53,029 | +85.8% |
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.