BPH-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.
BPH-INVEST
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Debts after one year -€90,461
down €90,461 (-35.5%), from €254,924 to €164,463
- Gross operating margin -€148,000
down €148,000, from €121,232 to -€26,768
- Turnover -€52,200
no longer reported in 2025 (was €52,200)
- Financial income +€33,731
new in 2025: €33,731
- Financial charges -€5,557
down €5,557 (-81.0%), from €6,862 to €1,305
- Other operating charges -€2,637
down €2,637 (-61.4%), from €4,291 to €1,654
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 | €5,838,572 | €5,886,633 | +€48,062 | +0.8% |
| Fixed assets | 21/28 | €4,278,364 | €4,276,085 | -€2,279 | -0.1% |
| Tangible fixed assets | 22/27 | €4,442 | €2,164 | -€2,279 | -51.3% |
| Furniture and vehicles | 24 | €4,442 | €2,164 | -€2,279 | -51.3% |
| Financial fixed assets | 28 | €4,273,922 | €4,273,922 | = | 0.0% |
| Current assets | 29/58 | €1,560,208 | €1,610,548 | +€50,340 | +3.2% |
| Amounts receivable within one year | 40/41 | €1,557,520 | €1,600,635 | +€43,115 | +2.8% |
| Trade receivables | 40 | €1,505,100 | €1,504,500 | -€600 | 0.0% |
| Other amounts receivable | 41 | €52,420 | €96,135 | +€43,715 | +83.4% |
| Cash at bank and in hand | 54/58 | €1,700 | €5,917 | +€4,217 | +248% |
| Deferred charges and accrued income | 490/1 | €988 | €3,996 | +€3,008 | +305% |
| Total equity and liabilities | 10/49 | €5,838,572 | €5,886,633 | +€48,062 | +0.8% |
| Equity | 10/15 | €3,759,007 | €3,760,731 | +€1,724 | 0.0% |
| Contributions | 10/11 | €950,000 | €950,000 | = | 0.0% |
| Capital | 10 | €950,000 | €950,000 | = | 0.0% |
| Issued capital | 100 | €950,000 | €950,000 | = | 0.0% |
| Reserves | 13 | €1,787,878 | €1,787,878 | = | 0.0% |
| Non-distributable reserves | 130/1 | €26,946 | €26,946 | = | 0.0% |
| Legal reserve | 130 | €26,946 | €26,946 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,760,933 | €1,760,933 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,021,129 | €1,022,853 | +€1,724 | +0.2% |
| Provisions and deferred taxes | 16 | €586,978 | €586,978 | = | 0.0% |
| Deferred taxes | 168 | €586,978 | €586,978 | = | 0.0% |
| Amounts payable | 17/49 | €1,492,587 | €1,538,924 | +€46,337 | +3.1% |
| Amounts payable after more than one year | 17 | €254,924 | €164,463 | -€90,461 | -35.5% |
| Financial debts | 170/4 | €254,924 | €164,463 | -€90,461 | -35.5% |
| Amounts payable within one year | 42/48 | €1,237,663 | €1,374,461 | +€136,799 | +11.1% |
| Financial debts | 43 | - | €43,912 | +€43,912 | |
| Credit institutions | 430/8 | - | €43,912 | +€43,912 | |
| Trade debts | 44 | €13,064 | €58,469 | +€45,405 | +348% |
| Suppliers | 440/4 | €13,064 | €58,469 | +€45,405 | +348% |
| Other amounts payable | 47/48 | €1,224,599 | €1,272,080 | +€47,482 | +3.9% |
| Turnover | 70 | €52,200 | - | -€52,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,282 | €2,279 | -€3 | -0.1% |
| Other operating charges | 640/8 | €4,291 | €1,654 | -€2,637 | -61.4% |
| Gross operating margin | 9900 | €121,232 | -€26,768 | -€148,000 | |
| Operating profit (loss) | 9901 | €114,658 | -€30,702 | -€145,360 | |
| Financial income | 75/76B | - | €33,731 | +€33,731 | |
| Recurring financial income | 75 | - | €33,731 | +€33,731 | |
| Financial charges | 65/66B | €6,862 | €1,305 | -€5,557 | -81.0% |
| Recurring financial charges | 65 | €6,862 | €1,305 | -€5,557 | -81.0% |
| Profit (loss) for the period before taxes | 9903 | €107,797 | €1,724 | -€106,073 | -98.4% |
| Profit (loss) for the period | 9904 | €107,797 | €1,724 | -€106,073 | -98.4% |
| Profit (loss) for the period to be appropriated | 9905 | €107,797 | €1,724 | -€106,073 | -98.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.