Bilkhage: 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
Bilkhage
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€824,285
2024 · -€231,938+€1.1m
Equity
€2.4m
2024 · €1.6m+€824,285
Cash
€32,487
2024 · €8,811+€23,676
Balance sheet total
€7.8m
2024 · €7.6m+€147,558
Largest movements
Assets
- Tangible fixed assets -€1.6m
down €1.6m (-31.0%), from €5.1m to €3.5m
- Receivables after one year +€1.3m
new in 2025: €1.3m
- Current investments +€522,000
new in 2025: €522,000
- Receivables within one year -€504,643
down €504,643 (-30.3%), from €1.7m to €1.2m
of which Other amounts receivable: -€469,258
- Stocks and contracts +€347,350
up €347,350, from €0 to €347,350
Equity and liabilities
- Profit (loss) carried forward +€824,285
up €824,285, from -€211,771 to €612,514
- Debts after one year -€778,862
down €778,862 (-23.2%), from €3.4m to €2.6m
of which Financial debts: -€778,362
- Trade debts -€520,814
down €520,814 (-93.8%), from €555,282 to €34,468
- Other debts +€505,000
up €505,000 (+23.2%), from €2.2m to €2.7m
- Tax, wage and social debts +€120,597
new in 2025: €120,597
Income statement
- Turnover +€2.1m
new in 2025: €2.1m
- Goods and materials +€1.1m
new in 2025: €1.1m
of which Purchases: +€1.5m
- Financial charges -€54,391
down €54,391 (-32.3%), from €168,329 to €113,938
- Other operating income +€51,204
up €51,204 (+32.0%), from €159,976 to €211,180
- Financial income +€38,265
new in 2025: €38,265
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
-€231,938
Turnover
+€2.1m
Other operating income
+€51,204
Goods and materials
-€1.1m
Services and other goods
-€10,429
Depreciation
-€34,592
Other operating charges
-€1,084
Financial income
+€38,265
Financial charges
+€54,391
Taxes
-€31,266
Result 2025
€824,285
raises the resultlowers the result
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
-€136,858
Investment
+€939,397
Financing
-€778,862
Cash 2024
€8,811
From operations (derived)
-€136,858
Net result for the year
+€824,285
Depreciation
+€114,695
Receivables after one year
-€1.3m
Stocks and contracts
-€347,350
Receivables within one year
+€504,643
Deferred charges and accrued income
-€35,267
Trade debts
-€520,814
Tax, wage and social debts
+€120,597
Other debts
+€505,000
Accrued charges and deferred income
-€2,647
Investment (derived)
+€939,397
Investment in fixed assets (net)
+€1.5m
Current investments
-€522,000
Financing
-€778,862
Debts after one year
-€778,862
Cash 2025
€32,487
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,645,230 | €7,792,788 | +€147,558 | +1.9% |
| Fixed assets | 21/28 | €5,968,487 | €4,392,395 | -€1.6m | -26.4% |
| Tangible fixed assets | 22/27 | €5,079,078 | €3,502,986 | -€1.6m | -31.0% |
| Land and buildings | 22 | €5,079,078 | €3,502,986 | -€1.6m | -31.0% |
| Financial fixed assets | 28 | €889,409 | €889,409 | = | 0.0% |
| Affiliated companies | 280/1 | €889,409 | €889,409 | = | 0.0% |
| Participating interests | 280 | €889,409 | €889,409 | = | 0.0% |
| Current assets | 29/58 | €1,676,742 | €3,400,393 | +€1.7m | +103% |
| Amounts receivable after more than one year | 29 | - | €1,300,000 | +€1.3m | |
| Other amounts receivable | 291 | - | €1,300,000 | +€1.3m | |
| Stocks and contracts in progress | 3 | €0 | €347,350 | +€347,350 | |
| Stocks | 30/36 | - | €347,350 | +€347,350 | |
| Property held for sale | 35 | - | €347,350 | +€347,350 | |
| Amounts receivable within one year | 40/41 | €1,667,000 | €1,162,357 | -€504,643 | -30.3% |
| Trade receivables | 40 | €133,757 | €98,372 | -€35,385 | -26.5% |
| Other amounts receivable | 41 | €1,533,243 | €1,063,985 | -€469,258 | -30.6% |
| Current investments | 50/53 | - | €522,000 | +€522,000 | |
| Other investments | 51/53 | - | €522,000 | +€522,000 | |
| Cash at bank and in hand | 54/58 | €8,811 | €32,487 | +€23,676 | +269% |
| Deferred charges and accrued income | 490/1 | €932 | €36,199 | +€35,267 | +3,786% |
| Total equity and liabilities | 10/49 | €7,645,230 | €7,792,788 | +€147,558 | +1.9% |
| Equity | 10/15 | €1,556,779 | €2,381,064 | +€824,285 | +52.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,750,000 | €1,750,000 | = | 0.0% |
| Distributable reserves | 133 | €1,750,000 | €1,750,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€211,771 | €612,514 | +€824,285 | |
| Amounts payable | 17/49 | €6,088,451 | €5,411,724 | -€676,727 | -11.1% |
| Amounts payable after more than one year | 17 | €3,350,500 | €2,571,638 | -€778,862 | -23.2% |
| Financial debts | 170/4 | €3,350,000 | €2,571,638 | -€778,362 | -23.2% |
| Credit institutions | 173 | €3,350,000 | €2,571,638 | -€778,362 | -23.2% |
| Other amounts payable | 178/9 | €500 | €0 | -€500 | -100% |
| Amounts payable within one year | 42/48 | €2,735,282 | €2,840,065 | +€104,783 | +3.8% |
| Trade debts | 44 | €555,282 | €34,468 | -€520,814 | -93.8% |
| Suppliers | 440/4 | €555,282 | €34,468 | -€520,814 | -93.8% |
| Taxes, remuneration and social security | 45 | - | €120,597 | +€120,597 | |
| Taxes | 450/3 | - | €120,597 | +€120,597 | |
| Other amounts payable | 47/48 | €2,180,000 | €2,685,000 | +€505,000 | +23.2% |
| Accrued charges and deferred income | 492/3 | €2,668 | €21 | -€2,647 | -99.2% |
| Operating income | 70/76A | €159,976 | €2,316,334 | +€2.2m | +1,348% |
| Turnover | 70 | - | €2,105,154 | +€2.1m | |
| Other operating income | 74 | €159,976 | €211,180 | +€51,204 | +32.0% |
| Operating charges | 60/66A | €223,585 | €1,385,109 | +€1.2m | +520% |
| Goods for resale, raw materials and consumables | 60 | - | €1,115,420 | +€1.1m | |
| Purchases | 600/8 | - | €1,462,770 | +€1.5m | |
| Change in stocks: decrease (increase) | 609 | - | -€347,350 | -€347,350 | |
| Services and other goods | 61 | €115,229 | €125,658 | +€10,429 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,103 | €114,695 | +€34,592 | +43.2% |
| Other operating charges | 640/8 | €28,252 | €29,336 | +€1,084 | +3.8% |
| Operating profit (loss) | 9901 | -€63,609 | €931,225 | +€994,833 | |
| Financial income | 75/76B | - | €38,265 | +€38,265 | |
| Recurring financial income | 75 | - | €38,265 | +€38,265 | |
| Income from current assets | 751 | - | €38,265 | +€38,265 | |
| Financial charges | 65/66B | €168,329 | €113,938 | -€54,391 | -32.3% |
| Recurring financial charges | 65 | €168,329 | €113,938 | -€54,391 | -32.3% |
| Debt charges | 650 | €167,945 | €112,738 | -€55,208 | -32.9% |
| Other financial charges | 652/9 | €384 | €1,201 | +€816 | +212% |
| Profit (loss) for the period before taxes | 9903 | -€231,938 | €855,551 | +€1.1m | |
| Income taxes | 67/77 | - | €31,266 | +€31,266 | |
| Taxes | 670/3 | - | €31,266 | +€31,266 | |
| Profit (loss) for the period | 9904 | -€231,938 | €824,285 | +€1.1m | |
| Profit (loss) for the period to be appropriated | 9905 | -€231,938 | €824,285 | +€1.1m |
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 20 October 2026 via checked.be.