TBHF: 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.
TBHF
Largest movements
- Cash -€74,134
down €74,134 (-31.2%), from €237,315 to €163,181
mainly Contributions, distributions and other (-€89,981) and Debts after one year (-€10,050)
- Financial fixed assets -€32,949
no longer reported in 2025 (was €32,949)
- Tangible fixed assets -€8,002
down €8,002 (-4.7%), from €168,596 to €160,594
of which Land and buildings: -€6,640
- Reserves -€89,981
down €89,981 (-36.0%), from €249,764 to €159,783
of which Distributable reserves: -€89,981
- Debts after one year -€10,050
down €10,050 (-9.2%), from €109,080 to €99,030
- Trade debts -€6,737
down €6,737 (-97.7%), from €6,895 to €158
- Other debts -€5,886
down €5,886 (-6.4%), from €91,368 to €85,482
- Financial income -€84,169
down €84,169 (-99.6%), from €84,509 to €340
of which Non-recurring financial income: -€73,153
- Gross operating margin +€49,286
up €49,286 (+53.5%), from €92,162 to €141,447
- Financial charges -€12,478
down €12,478 (-13.1%), from €95,163 to €82,685
of which Financial charges: -€10,664
- Taxes -€5,116
down €5,116 (-69.1%), from €7,403 to €2,287
- Staff costs +€1,712
up €1,712 (+4.4%), from €39,230 to €40,942
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €506,729 | €394,670 | -€112,060 | -22.1% |
| Fixed assets | 21/28 | €201,545 | €160,594 | -€40,951 | -20.3% |
| Tangible fixed assets | 22/27 | €168,596 | €160,594 | -€8,002 | -4.7% |
| Land and buildings | 22 | €155,965 | €149,325 | -€6,640 | -4.3% |
| Plant, machinery and equipment | 23 | €3,273 | €4,615 | +€1,343 | +41.0% |
| Furniture and vehicles | 24 | €7,197 | €5,492 | -€1,704 | -23.7% |
| Other tangible fixed assets | 26 | €2,162 | €1,162 | -€1,000 | -46.3% |
| Financial fixed assets | 28 | €32,949 | - | -€32,949 | |
| Current assets | 29/58 | €305,184 | €234,076 | -€71,109 | -23.3% |
| Amounts receivable within one year | 40/41 | €65,225 | €68,576 | +€3,350 | +5.1% |
| Trade receivables | 40 | €29,630 | €34,098 | +€4,467 | +15.1% |
| Other amounts receivable | 41 | €35,595 | €34,478 | -€1,117 | -3.1% |
| Cash at bank and in hand | 54/58 | €237,315 | €163,181 | -€74,134 | -31.2% |
| Deferred charges and accrued income | 490/1 | €2,644 | €2,319 | -€325 | -12.3% |
| Total equity and liabilities | 10/49 | €506,729 | €394,670 | -€112,060 | -22.1% |
| Equity | 10/15 | €262,164 | €173,515 | -€88,649 | -33.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €249,764 | €159,783 | -€89,981 | -36.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €247,904 | €157,923 | -€89,981 | -36.3% |
| Profit (loss) carried forward | 14 | €0 | €1,332 | +€1,332 | |
| Amounts payable | 17/49 | €244,565 | €221,154 | -€23,411 | -9.6% |
| Amounts payable after more than one year | 17 | €109,080 | €99,030 | -€10,050 | -9.2% |
| Financial debts | 170/4 | €109,080 | €99,030 | -€10,050 | -9.2% |
| Amounts payable within one year | 42/48 | €135,322 | €122,125 | -€13,197 | -9.8% |
| Current portion of amounts payable after more than one year | 42 | €17,937 | €18,384 | +€447 | +2.5% |
| Trade debts | 44 | €6,895 | €158 | -€6,737 | -97.7% |
| Suppliers | 440/4 | €6,895 | €158 | -€6,737 | -97.7% |
| Taxes, remuneration and social security | 45 | €19,122 | €18,100 | -€1,022 | -5.3% |
| Taxes | 450/3 | €10,513 | €8,527 | -€1,986 | -18.9% |
| Remuneration and social security | 454/9 | €8,609 | €9,573 | +€964 | +11.2% |
| Other amounts payable | 47/48 | €91,368 | €85,482 | -€5,886 | -6.4% |
| Accrued charges and deferred income | 492/3 | €163 | - | -€163 | |
| Remuneration, social security and pensions | 62 | €39,230 | €40,942 | +€1,712 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,954 | €12,311 | -€644 | -5.0% |
| Other operating charges | 640/8 | €2,348 | €2,230 | -€118 | -5.0% |
| Non-recurring operating charges | 66A | €4,210 | - | -€4,210 | |
| Gross operating margin | 9900 | €92,162 | €141,447 | +€49,286 | +53.5% |
| Operating profit (loss) | 9901 | €33,420 | €85,965 | +€52,545 | +157.2% |
| Financial income | 75/76B | €84,509 | €340 | -€84,169 | -99.6% |
| Recurring financial income | 75 | €11,355 | €340 | -€11,016 | -97.0% |
| Non-recurring financial income | 76B | €73,153 | - | -€73,153 | |
| Financial charges | 65/66B | €95,163 | €82,685 | -€12,478 | -13.1% |
| Recurring financial charges | 65 | €93,349 | €82,685 | -€10,664 | -11.4% |
| Non-recurring financial charges | 66B | €1,814 | - | -€1,814 | |
| Profit (loss) for the period before taxes | 9903 | €22,766 | €3,620 | -€19,146 | -84.1% |
| Income taxes | 67/77 | €7,403 | €2,287 | -€5,116 | -69.1% |
| Profit (loss) for the period | 9904 | €15,363 | €1,332 | -€14,030 | -91.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,363 | €1,332 | -€14,030 | -91.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.