BN HOLDING: 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
BN HOLDING
NACE 64.210, Activities of holding companies
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€20,944
2024 · €1,339-€22,283
Equity
€687,134
2024 · €708,078-€20,944
Cash
€292
2024 · €936-€645
Balance sheet total
€1.4m
2024 · €1.4m-€21,120
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Profit (loss) carried forward -€20,944
down €20,944 (-3.7%), from €560,692 to €539,748
Income statement
- Financial charges +€15,716
up €15,716 (+91.9%), from €17,099 to €32,815
- Gross operating margin -€6,875
down €6,875 (-19.5%), from €35,210 to €28,334
- Depreciation -€873
down €873 (-8.0%), from €10,915 to €10,041
- Other operating charges +€572
up €572 (+10.0%), from €5,710 to €6,282
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
€1,339
Gross operating margin
-€6,875
Depreciation
+€873
Other operating charges
-€572
Financial income
+€22
Financial charges
-€15,716
Taxes
-€15
Result 2025
-€20,944
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.
From operations
+€6,607
Investment
€0
Financing
-€7,251
Cash 2024
€936
From operations (derived)
+€6,607
Net result for the year
-€20,944
Depreciation
+€10,041
Receivables within one year
+€10,802
Deferred charges and accrued income
-€368
Trade debts
+€12,182
Tax, wage and social debts
-€4,695
Accrued charges and deferred income
-€411
Financing
-€7,251
Debts after one year
+€3,185
Current portion of long-term debt
-€462
Short-term financial debts
-€9,974
Cash 2025
€292
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,446,040 | €1,424,920 | -€21,120 | -1.5% |
| Fixed assets | 21/28 | €1,375,493 | €1,365,451 | -€10,041 | -0.7% |
| Tangible fixed assets | 22/27 | €166,952 | €156,910 | -€10,041 | -6.0% |
| Land and buildings | 22 | €161,604 | €152,186 | -€9,418 | -5.8% |
| Plant, machinery and equipment | 23 | €4,215 | €3,817 | -€398 | -9.4% |
| Furniture and vehicles | 24 | €1,132 | €907 | -€225 | -19.9% |
| Financial fixed assets | 28 | €1,208,541 | €1,208,541 | = | 0.0% |
| Current assets | 29/58 | €70,547 | €59,469 | -€11,079 | -15.7% |
| Amounts receivable within one year | 40/41 | €68,427 | €57,625 | -€10,802 | -15.8% |
| Trade receivables | 40 | €6,224 | - | -€6,224 | |
| Other amounts receivable | 41 | €62,203 | €57,625 | -€4,578 | -7.4% |
| Cash at bank and in hand | 54/58 | €936 | €292 | -€645 | -68.8% |
| Deferred charges and accrued income | 490/1 | €1,184 | €1,552 | +€368 | +31.1% |
| Total equity and liabilities | 10/49 | €1,446,040 | €1,424,920 | -€21,120 | -1.5% |
| Equity | 10/15 | €708,078 | €687,134 | -€20,944 | -3.0% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €72,386 | €72,386 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €64,886 | €64,886 | = | 0.0% |
| Profit (loss) carried forward | 14 | €560,692 | €539,748 | -€20,944 | -3.7% |
| Amounts payable | 17/49 | €737,962 | €737,786 | -€176 | 0.0% |
| Amounts payable after more than one year | 17 | €628,905 | €632,090 | +€3,185 | +0.5% |
| Financial debts | 170/4 | €192,741 | €123,390 | -€69,351 | -36.0% |
| Other amounts payable | 178/9 | €436,164 | €508,700 | +€72,536 | +16.6% |
| Amounts payable within one year | 42/48 | €108,646 | €105,696 | -€2,950 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €75,842 | €75,380 | -€462 | -0.6% |
| Financial debts | 43 | €9,974 | - | -€9,974 | |
| Credit institutions | 430/8 | €9,974 | - | -€9,974 | |
| Trade debts | 44 | €15,474 | €27,656 | +€12,182 | +78.7% |
| Suppliers | 440/4 | €15,474 | €27,656 | +€12,182 | +78.7% |
| Taxes, remuneration and social security | 45 | €7,355 | €2,660 | -€4,695 | -63.8% |
| Taxes | 450/3 | €4,855 | €160 | -€4,695 | -96.7% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €411 | - | -€411 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,915 | €10,041 | -€873 | -8.0% |
| Other operating charges | 640/8 | €5,710 | €6,282 | +€572 | +10.0% |
| Gross operating margin | 9900 | €35,210 | €28,334 | -€6,875 | -19.5% |
| Operating profit (loss) | 9901 | €18,585 | €12,010 | -€6,574 | -35.4% |
| Financial income | 75/76B | - | €22 | +€22 | |
| Recurring financial income | 75 | - | €22 | +€22 | |
| Financial charges | 65/66B | €17,099 | €32,815 | +€15,716 | +91.9% |
| Recurring financial charges | 65 | €17,099 | €32,815 | +€15,716 | +91.9% |
| Profit (loss) for the period before taxes | 9903 | €1,486 | -€20,783 | -€22,268 | |
| Income taxes | 67/77 | €147 | €162 | +€15 | +10.3% |
| Profit (loss) for the period | 9904 | €1,339 | -€20,944 | -€22,283 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,339 | -€20,944 | -€22,283 |
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 12 October 2026 via checked.be.