BLH INVEST: 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.
BLH INVEST
Largest movements
- Cash +€58,007
up €58,007 (+49.7%), from €116,677 to €174,684
mainly Net result for the year (+€682,779) and Current portion of long-term debt (+€20,960)
- Tangible fixed assets +€46,679
up €46,679 (+12,217%), from €382 to €47,061
- Profit (loss) carried forward +€682,779
up €682,779 (+122%), from €560,564 to €1.2m
- Debts after one year -€554,955
down €554,955 (-28.1%), from €2.0m to €1.4m
- Tax, wage and social debts -€40,133
down €40,133 (-22.7%), from €177,063 to €136,930
- Financial income +€267,699
up €267,699 (+815%), from €32,842 to €300,540
- Gross operating margin +€161,713
up €161,713 (+38.9%), from €415,703 to €577,416
- Taxes +€28,928
up €28,928 (+28.9%), from €99,997 to €128,925
- Financial charges +€21,142
up €21,142 (+57.0%), from €37,118 to €58,261
- Depreciation +€6,433
up €6,433 (+5,455%), from €118 to €6,551
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 | €3,112,658 | €3,221,674 | +€109,017 | +3.5% |
| Fixed assets | 21/28 | €2,927,429 | €2,974,108 | +€46,679 | +1.6% |
| Tangible fixed assets | 22/27 | €382 | €47,061 | +€46,679 | +12,217% |
| Furniture and vehicles | 24 | €382 | €47,061 | +€46,679 | +12,217% |
| Financial fixed assets | 28 | €2,927,047 | €2,927,047 | = | 0.0% |
| Current assets | 29/58 | €185,229 | €247,567 | +€62,338 | +33.7% |
| Amounts receivable within one year | 40/41 | €68,255 | €70,704 | +€2,449 | +3.6% |
| Trade receivables | 40 | €63,910 | €63,910 | = | 0.0% |
| Other amounts receivable | 41 | €4,345 | €6,794 | +€2,449 | +56.4% |
| Cash at bank and in hand | 54/58 | €116,677 | €174,684 | +€58,007 | +49.7% |
| Deferred charges and accrued income | 490/1 | €297 | €2,178 | +€1,882 | +634% |
| Total equity and liabilities | 10/49 | €3,112,658 | €3,221,674 | +€109,017 | +3.5% |
| Equity | 10/15 | €563,564 | €1,246,343 | +€682,779 | +121% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €560,564 | €1,243,343 | +€682,779 | +122% |
| Amounts payable | 17/49 | €2,549,094 | €1,975,332 | -€573,762 | -22.5% |
| Amounts payable after more than one year | 17 | €1,976,213 | €1,421,258 | -€554,955 | -28.1% |
| Financial debts | 170/4 | €1,976,213 | €1,421,258 | -€554,955 | -28.1% |
| Amounts payable within one year | 42/48 | €572,881 | €554,074 | -€18,807 | -3.3% |
| Current portion of amounts payable after more than one year | 42 | €395,080 | €416,040 | +€20,960 | +5.3% |
| Trade debts | 44 | €737 | €1,104 | +€366 | +49.7% |
| Suppliers | 440/4 | €737 | €1,104 | +€366 | +49.7% |
| Taxes, remuneration and social security | 45 | €177,063 | €136,930 | -€40,133 | -22.7% |
| Taxes | 450/3 | €177,063 | €136,930 | -€40,133 | -22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €118 | €6,551 | +€6,433 | +5,455% |
| Other operating charges | 640/8 | €1,095 | €1,143 | +€48 | +4.4% |
| Non-recurring operating charges | 66A | €87 | €298 | +€211 | +242% |
| Gross operating margin | 9900 | €415,703 | €577,416 | +€161,713 | +38.9% |
| Operating profit (loss) | 9901 | €414,403 | €569,424 | +€155,021 | +37.4% |
| Financial income | 75/76B | €32,842 | €300,540 | +€267,699 | +815% |
| Recurring financial income | 75 | €32,842 | €300,540 | +€267,699 | +815% |
| Financial charges | 65/66B | €37,118 | €58,261 | +€21,142 | +57.0% |
| Recurring financial charges | 65 | €37,118 | €58,261 | +€21,142 | +57.0% |
| Profit (loss) for the period before taxes | 9903 | €410,127 | €811,704 | +€401,577 | +97.9% |
| Income taxes | 67/77 | €99,997 | €128,925 | +€28,928 | +28.9% |
| Profit (loss) for the period | 9904 | €310,130 | €682,779 | +€372,649 | +120% |
| Profit (loss) for the period to be appropriated | 9905 | €310,130 | €682,779 | +€372,649 | +120% |
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 28 October 2026 via checked.be.