Buhlmann: 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
Buhlmann
NACE 46.649, Wholesale of other machinery and equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€37,126
2024 · €96,086-€58,960
Equity
€1.7m
2024 · €1.6m+€37,126
Cash
€491,326
2024 · €775,187-€283,861
Balance sheet total
€3.7m
2024 · €5.2m-€1.5m
Largest movements
Assets
- Receivables within one year -€1.1m
down €1.1m (-46.9%), from €2.4m to €1.3m
of which Trade receivables: -€1.1m
- Cash -€283,861
down €283,861 (-36.6%), from €775,187 to €491,326
mainly Short-term financial debts (-€862,000) and Trade debts (-€571,938)
- Current investments +€112,823
new in 2025: €112,823
- Stocks and contracts -€102,084
down €102,084 (-10.8%), from €946,059 to €843,975
of which Contracts in progress: -€152,084
- Tangible fixed assets -€57,650
down €57,650 (-14.5%), from €398,045 to €340,395
of which Leasing and similar rights: -€40,837
Equity and liabilities
- Short-term financial debts -€862,000
down €862,000 (-54.2%), from €1.6m to €728,000
- Trade debts -€571,938
down €571,938 (-43.7%), from €1.3m to €737,145
- Debts after one year -€67,362
down €67,362 (-48.0%), from €140,192 to €72,830
Income statement
- Goods and materials -€851,257
down €851,257 (-12.3%), from €6.9m to €6.0m
of which Purchases: -€798,875
- Turnover -€360,843
down €360,843 (-3.8%), from €9.5m to €9.2m
- Staff costs +€234,737
up €234,737 (+17.4%), from €1.3m to €1.6m
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
€96,086
Turnover
-€360,843
Other operating income
-€22,546
Goods and materials
+€851,257
Services and other goods
+€42,488
Staff costs
-€234,737
Depreciation
-€29,157
Write-downs
+€5,008
Other operating charges
-€45,385
Other operating items
-€274,956
Financial income
+€75,188
Financial charges
-€58,964
Taxes
-€6,313
Result 2025
€37,126
raises the resultlowers the resultnot broken down further in the accounts
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
+€790,589
Investment
-€126,706
Financing
-€947,744
Cash 2024
€775,187
From operations (derived)
+€790,589
Net result for the year
+€37,126
Depreciation
+€115,393
Stocks and contracts
+€102,084
Receivables within one year
+€1.1m
Deferred charges and accrued income
-€28,034
Trade debts
-€571,938
Tax, wage and social debts
+€31,681
Other debts
-€21,611
Accrued charges and deferred income
+€2,395
Investment (derived)
-€126,706
Investment in fixed assets (net)
-€13,883
Current investments
-€112,823
Financing
-€947,744
Debts after one year
-€67,362
Current portion of long-term debt
-€18,382
Short-term financial debts
-€862,000
Cash 2025
€491,326
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,181,760 | €3,711,669 | -€1.5m | -28.4% |
| Fixed assets | 21/28 | €1,064,369 | €962,859 | -€101,510 | -9.5% |
| Tangible fixed assets | 22/27 | €398,045 | €340,395 | -€57,650 | -14.5% |
| Plant, machinery and equipment | 23 | €64,676 | €51,385 | -€13,291 | -20.6% |
| Furniture and vehicles | 24 | €25,378 | €21,856 | -€3,522 | -13.9% |
| Leasing and similar rights | 25 | €307,991 | €267,154 | -€40,837 | -13.3% |
| Financial fixed assets | 28 | €666,324 | €622,464 | -€43,860 | -6.6% |
| Affiliated companies | 280/1 | €162,500 | €162,500 | = | 0.0% |
| Participating interests | 280 | €162,500 | €162,500 | = | 0.0% |
| Other financial fixed assets | 284/8 | €503,824 | €459,964 | -€43,860 | -8.7% |
| Amounts receivable and cash guarantees | 285/8 | €503,824 | €459,964 | -€43,860 | -8.7% |
| Current assets | 29/58 | €4,117,391 | €2,748,810 | -€1.4m | -33.2% |
| Amounts receivable after more than one year | 29 | €2,000 | €2,000 | = | 0.0% |
| Other amounts receivable | 291 | €2,000 | €2,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €946,059 | €843,975 | -€102,084 | -10.8% |
| Stocks | 30/36 | €659,975 | €709,975 | +€50,000 | +7.6% |
| Goods purchased for resale | 34 | €659,975 | €709,975 | +€50,000 | +7.6% |
| Contracts in progress | 37 | €286,084 | €134,000 | -€152,084 | -53.2% |
| Amounts receivable within one year | 40/41 | €2,394,145 | €1,270,652 | -€1.1m | -46.9% |
| Trade receivables | 40 | €2,384,145 | €1,258,343 | -€1.1m | -47.2% |
| Other amounts receivable | 41 | €10,000 | €12,309 | +€2,309 | +23.1% |
| Current investments | 50/53 | - | €112,823 | +€112,823 | |
| Other investments | 51/53 | - | €112,823 | +€112,823 | |
| Cash at bank and in hand | 54/58 | €775,187 | €491,326 | -€283,861 | -36.6% |
| Deferred charges and accrued income | 490/1 | - | €28,034 | +€28,034 | |
| Total equity and liabilities | 10/49 | €5,181,760 | €3,711,669 | -€1.5m | -28.4% |
| Equity | 10/15 | €1,633,979 | €1,671,105 | +€37,126 | +2.3% |
| Contributions | 10/11 | €1,239,468 | €1,239,468 | = | 0.0% |
| Capital | 10 | €1,239,468 | €1,239,468 | = | 0.0% |
| Issued capital | 100 | €1,239,468 | €1,239,468 | = | 0.0% |
| Reserves | 13 | €2,215,177 | €2,215,177 | = | 0.0% |
| Non-distributable reserves | 130/1 | €123,947 | €123,947 | = | 0.0% |
| Legal reserve | 130 | €123,947 | €123,947 | = | 0.0% |
| Tax-exempt reserves | 132 | €297,472 | €297,472 | = | 0.0% |
| Distributable reserves | 133 | €1,793,758 | €1,793,758 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,820,666 | -€1,783,540 | +€37,126 | +2.0% |
| Amounts payable | 17/49 | €3,547,781 | €2,040,564 | -€1.5m | -42.5% |
| Amounts payable after more than one year | 17 | €140,192 | €72,830 | -€67,362 | -48.0% |
| Financial debts | 170/4 | €140,192 | €72,830 | -€67,362 | -48.0% |
| Leasing and similar obligations | 172 | €140,192 | €72,830 | -€67,362 | -48.0% |
| Amounts payable within one year | 42/48 | €3,407,287 | €1,965,037 | -€1.4m | -42.3% |
| Current portion of amounts payable after more than one year | 42 | €136,398 | €118,016 | -€18,382 | -13.5% |
| Financial debts | 43 | €1,590,000 | €728,000 | -€862,000 | -54.2% |
| Other loans | 439 | €1,590,000 | €728,000 | -€862,000 | -54.2% |
| Trade debts | 44 | €1,309,083 | €737,145 | -€571,938 | -43.7% |
| Suppliers | 440/4 | €1,309,083 | €737,145 | -€571,938 | -43.7% |
| Taxes, remuneration and social security | 45 | €350,195 | €381,876 | +€31,681 | +9.0% |
| Taxes | 450/3 | €155,941 | €135,093 | -€20,848 | -13.4% |
| Remuneration and social security | 454/9 | €194,254 | €246,783 | +€52,529 | +27.0% |
| Other amounts payable | 47/48 | €21,611 | - | -€21,611 | |
| Accrued charges and deferred income | 492/3 | €302 | €2,697 | +€2,395 | +793% |
| Operating income | 70/76A | €10,095,665 | €9,443,608 | -€652,057 | -6.5% |
| Turnover | 70 | €9,522,952 | €9,162,109 | -€360,843 | -3.8% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €116,584 | -€152,084 | -€268,668 | |
| Other operating income | 74 | €456,129 | €433,583 | -€22,546 | -4.9% |
| Operating charges | 60/66A | €9,923,035 | €9,339,849 | -€583,186 | -5.9% |
| Goods for resale, raw materials and consumables | 60 | €6,894,276 | €6,043,019 | -€851,257 | -12.3% |
| Purchases | 600/8 | €6,891,894 | €6,093,019 | -€798,875 | -11.6% |
| Change in stocks: decrease (increase) | 609 | €2,382 | -€50,000 | -€52,382 | |
| Services and other goods | 61 | €1,569,961 | €1,527,473 | -€42,488 | -2.7% |
| Remuneration, social security and pensions | 62 | €1,349,085 | €1,583,822 | +€234,737 | +17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,236 | €115,393 | +€29,157 | +33.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,378 | €370 | -€5,008 | -93.1% |
| Other operating charges | 640/8 | €17,428 | €62,813 | +€45,385 | +260% |
| Non-recurring operating charges | 66A | €671 | €6,959 | +€6,288 | +937% |
| Operating profit (loss) | 9901 | €172,630 | €103,759 | -€68,871 | -39.9% |
| Financial income | 75/76B | €2,996 | €78,184 | +€75,188 | +2,510% |
| Recurring financial income | 75 | €2,996 | €78,184 | +€75,188 | +2,510% |
| Income from financial fixed assets | 750 | €978 | €634 | -€344 | -35.2% |
| Other financial income | 752/9 | €2,018 | €77,550 | +€75,532 | +3,743% |
| Financial charges | 65/66B | €78,121 | €137,085 | +€58,964 | +75.5% |
| Recurring financial charges | 65 | €78,121 | €137,085 | +€58,964 | +75.5% |
| Debt charges | 650 | €10,761 | €45,853 | +€35,092 | +326% |
| Other financial charges | 652/9 | €67,360 | €91,232 | +€23,872 | +35.4% |
| Profit (loss) for the period before taxes | 9903 | €97,505 | €44,858 | -€52,647 | -54.0% |
| Income taxes | 67/77 | €1,419 | €7,732 | +€6,313 | +445% |
| Taxes | 670/3 | €1,419 | €7,732 | +€6,313 | +445% |
| Profit (loss) for the period | 9904 | €96,086 | €37,126 | -€58,960 | -61.4% |
| Profit (loss) for the period to be appropriated | 9905 | €96,086 | €37,126 | -€58,960 | -61.4% |
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 16 October 2026 via checked.be.