ODDO BHF BELGIUM: 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
ODDO BHF BELGIUM
NACE 69.109, Other legal services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€802,309
2024 · €4.5m-€5.3m
Equity
€206.0m
2024 · €233.8m-€27.8m
Cash
€16.6m
2024 · €44.1m-€27.5m
Balance sheet total
€335.0m
2024 · €294.6m+€40.3m
Largest movements
Assets
- Current investments +€75.8m
up €75.8m (+33.8%), from €224.4m to €300.3m
- Cash -€27.5m
down €27.5m (-62.4%), from €44.1m to €16.6m
mainly Current investments (-€75.8m) and Contributions, distributions and other (-€27.0m)
- Financial fixed assets -€8.9m
down €8.9m (-35.6%), from €24.9m to €16.0m
of which Other financial fixed assets: -€5.7m
Equity and liabilities
- Debts after one year +€70.0m
new in 2025: €70.0m
- Reserves -€27.8m
down €27.8m (-39.1%), from €71.1m to €43.3m
of which Distributable reserves: -€27.8m
Income statement
- Financial charges +€6.4m
up €6.4m (+89.0%), from €7.2m to €13.6m
of which Non-recurring financial charges: +€5.7m
- Financial income +€1.3m
up €1.3m (+10.4%), from €13.0m to €14.3m
of which Financial income: +€3.1m
- Taxes +€298,636
up €298,636 (+148%), from €201,364 to €500,000
- Provisions -€155,000
no longer reported in 2025 (was €155,000)
- Staff costs +€40,140
up €40,140 (+6.5%), from €614,466 to €654,606
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
€4.5m
Turnover
-€31,822
Other operating income
-€20,857
Goods and materials
+€31,822
Services and other goods
-€18,046
Staff costs
-€40,140
Depreciation
+€441
Provisions
+€155,000
Other operating charges
+€1,107
Financial income
+€1.3m
Financial charges
-€6.4m
Taxes
-€298,636
Result 2025
-€802,309
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
-€2.1m
Investment
-€67.0m
Financing
+€41.6m
Cash 2024
€44.1m
From operations (derived)
-€2.1m
Net result for the year
-€802,309
Depreciation
+€7,568
Receivables within one year
-€828,667
Smaller working-capital items
+€5,849
Provisions
-€512,500
Investment (derived)
-€67.0m
Investment in fixed assets (net)
+€8.9m
Current investments
-€75.8m
Financing
+€41.6m
Debts after one year
+€70.0m
Short-term financial debts
-€1.4m
Contributions, distributions and other
-€27.0m
Cash 2025
€16.6m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €294,644,517 | €334,971,197 | +€40.3m | +13.7% |
| Fixed assets | 21/28 | €24,869,366 | €15,999,171 | -€8.9m | -35.7% |
| Tangible fixed assets | 22/27 | €8,906 | €1,338 | -€7,568 | -85.0% |
| Plant, machinery and equipment | 23 | €8,263 | €1,338 | -€6,925 | -83.8% |
| Furniture and vehicles | 24 | €643 | - | -€643 | |
| Financial fixed assets | 28 | €24,860,460 | €15,997,833 | -€8.9m | -35.6% |
| Companies linked by participating interests | 282/3 | €15,120,558 | €12,000,558 | -€3.1m | -20.6% |
| Participating interests | 282 | €15,120,558 | €12,000,558 | -€3.1m | -20.6% |
| Other financial fixed assets | 284/8 | €9,739,902 | €3,997,275 | -€5.7m | -59.0% |
| Shares | 284 | €9,739,902 | €3,997,275 | -€5.7m | -59.0% |
| Current assets | 29/58 | €269,775,151 | €318,972,026 | +€49.2m | +18.2% |
| Amounts receivable after more than one year | 29 | €643,384 | €643,384 | = | 0.0% |
| Other amounts receivable | 291 | €643,384 | €643,384 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €613,234 | €1,441,901 | +€828,667 | +135% |
| Trade receivables | 40 | €506 | - | -€506 | |
| Other amounts receivable | 41 | €612,728 | €1,441,901 | +€829,173 | +135% |
| Current investments | 50/53 | €224,411,410 | €300,260,694 | +€75.8m | +33.8% |
| Other investments | 51/53 | €224,411,410 | €300,260,694 | +€75.8m | +33.8% |
| Cash at bank and in hand | 54/58 | €44,073,585 | €16,593,600 | -€27.5m | -62.4% |
| Deferred charges and accrued income | 490/1 | €33,538 | €32,447 | -€1,091 | -3.3% |
| Total equity and liabilities | 10/49 | €294,644,517 | €334,971,197 | +€40.3m | +13.7% |
| Equity | 10/15 | €233,788,025 | €205,985,716 | -€27.8m | -11.9% |
| Contributions | 10/11 | €162,673,438 | €162,673,438 | = | 0.0% |
| Capital | 10 | €144,052,913 | €144,052,913 | = | 0.0% |
| Issued capital | 100 | €144,052,913 | €144,052,913 | = | 0.0% |
| Contributions outside capital | 11 | €18,620,525 | €18,620,525 | = | 0.0% |
| Share premium | 1100/10 | €18,620,525 | €18,620,525 | = | 0.0% |
| Reserves | 13 | €71,114,587 | €43,312,278 | -€27.8m | -39.1% |
| Non-distributable reserves | 130/1 | €14,405,291 | €14,405,291 | = | 0.0% |
| Legal reserve | 130 | €14,405,291 | €14,405,291 | = | 0.0% |
| Distributable reserves | 133 | €56,709,296 | €28,906,987 | -€27.8m | -49.0% |
| Provisions and deferred taxes | 16 | €1,120,000 | €607,500 | -€512,500 | -45.8% |
| Provisions for liabilities and charges | 160/5 | €1,120,000 | €607,500 | -€512,500 | -45.8% |
| Other liabilities and charges | 164/5 | €1,120,000 | €607,500 | -€512,500 | -45.8% |
| Amounts payable | 17/49 | €59,736,492 | €128,377,981 | +€68.6m | +115% |
| Amounts payable after more than one year | 17 | - | €70,000,000 | +€70.0m | |
| Financial debts | 170/4 | - | €70,000,000 | +€70.0m | |
| Credit institutions | 173 | - | €70,000,000 | +€70.0m | |
| Amounts payable within one year | 42/48 | €59,692,068 | €58,342,541 | -€1.3m | -2.3% |
| Financial debts | 43 | €59,528,473 | €58,165,204 | -€1.4m | -2.3% |
| Credit institutions | 430/8 | €59,528,473 | €58,165,204 | -€1.4m | -2.3% |
| Trade debts | 44 | €98,355 | €127,937 | +€29,582 | +30.1% |
| Suppliers | 440/4 | €98,355 | €127,937 | +€29,582 | +30.1% |
| Taxes, remuneration and social security | 45 | €65,240 | €49,400 | -€15,840 | -24.3% |
| Taxes | 450/3 | €3,150 | €2,924 | -€226 | -7.2% |
| Remuneration and social security | 454/9 | €62,090 | €46,476 | -€15,614 | -25.1% |
| Accrued charges and deferred income | 492/3 | €44,424 | €35,440 | -€8,984 | -20.2% |
| Operating income | 70/76A | €52,757 | €78 | -€52,679 | -99.9% |
| Turnover | 70 | €31,900 | €78 | -€31,822 | -99.8% |
| Other operating income | 74 | €20,857 | - | -€20,857 | |
| Operating charges | 60/66A | €1,159,305 | €1,029,121 | -€130,184 | -11.2% |
| Goods for resale, raw materials and consumables | 60 | €31,900 | €78 | -€31,822 | -99.8% |
| Purchases | 600/8 | €31,900 | €78 | -€31,822 | -99.8% |
| Services and other goods | 61 | €329,612 | €347,658 | +€18,046 | +5.5% |
| Remuneration, social security and pensions | 62 | €614,466 | €654,606 | +€40,140 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,009 | €7,568 | -€441 | -5.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €155,000 | - | -€155,000 | |
| Other operating charges | 640/8 | €20,318 | €19,211 | -€1,107 | -5.4% |
| Operating profit (loss) | 9901 | -€1,106,548 | -€1,029,043 | +€77,505 | +7.0% |
| Financial income | 75/76B | €12,964,030 | €14,308,246 | +€1.3m | +10.4% |
| Recurring financial income | 75 | €9,677,987 | €12,815,598 | +€3.1m | +32.4% |
| Income from financial fixed assets | 750 | €12,711 | €8,984 | -€3,727 | -29.3% |
| Income from current assets | 751 | €3,430,420 | €1,975,123 | -€1.5m | -42.4% |
| Other financial income | 752/9 | €6,234,856 | €10,831,491 | +€4.6m | +73.7% |
| Non-recurring financial income | 76B | €3,286,043 | €1,492,648 | -€1.8m | -54.6% |
| Financial charges | 65/66B | €7,187,171 | €13,581,512 | +€6.4m | +89.0% |
| Recurring financial charges | 65 | €3,901,128 | €4,639,736 | +€738,608 | +18.9% |
| Debt charges | 650 | €3,193,868 | €4,325,832 | +€1.1m | +35.4% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€705,982 | -€779,452 | -€73,470 | -10.4% |
| Other financial charges | 652/9 | €1,413,242 | €1,093,356 | -€319,886 | -22.6% |
| Non-recurring financial charges | 66B | €3,286,043 | €8,941,776 | +€5.7m | +172% |
| Profit (loss) for the period before taxes | 9903 | €4,670,311 | -€302,309 | -€5.0m | |
| Income taxes | 67/77 | €201,364 | €500,000 | +€298,636 | +148% |
| Taxes | 670/3 | €201,364 | €500,000 | +€298,636 | +148% |
| Profit (loss) for the period | 9904 | €4,468,947 | -€802,309 | -€5.3m | |
| Profit (loss) for the period to be appropriated | 9905 | €4,468,947 | -€802,309 | -€5.3m |
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 27 October 2026 via checked.be.