BHAVYA (0819.093.239): financials and annual accounts

BHAVYA

Antwerp ·KBO/BCE: BE 0819.093.239

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Balance sheet: assets
Total assets`20/58`	11.5m	14.4m	18.4m	15.8m	12.9m	11.8m	7.8m	6.9m	11.3m	10.3m	7.3m	7.9m	3.1m	3.4m	2.7m	3.6m
Fixed assets`21/28`	422,845	443,899	466,058	486,968	473,789	490,398	505,372	524,763	28,082	39,659	50,181	4,767	5,129	6,663	8,462	6,079
Intangible fixed assets`21`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,667	3,334
Tangible fixed assets`22/27`	421,145	442,199	464,358	486,968	473,789	490,398	505,372	524,763	28,082	39,659	50,181	4,767	5,129	6,663	6,795	2,746
Land and buildings`22`	412,134	426,392	440,650	454,908	469,166	483,425	497,683	506,216	-	-	-	-	-	-	-	-
Plant, machinery and equipment`23`	1,044	1,782	3,625	5,919	4,623	6,931	3,518	4,189	3,537	4,927	5,262	4,466	4,786	6,277	6,795	2,746
Furniture and vehicles`24`	7,967	14,025	20,083	26,141	-	43	4,171	14,358	24,545	34,732	44,919	300	343	386	-	-
Financial fixed assets`28`	1,700	1,700	1,700	-	-	-	-	-	-	-	-	-	-	-	-	-
Other financial fixed assets`284/8`	1,700	1,700	1,700	-	-	-	-	-	-	-	-	-	-	-	-	-
Amounts receivable and cash guarantees`285/8`	1,700	1,700	1,700	-	-	-	-	-	-	-	-	-	-	-	-	-
Current assets`29/58`	11.1m	13.9m	17.9m	15.3m	12.4m	11.3m	7.3m	6.4m	11.2m	10.2m	7.2m	7.9m	3.1m	3.3m	2.7m	3.6m
Stocks and contracts in progress`3`	5.1m	7.0m	7.9m	7.0m	5.8m	6.6m	5.0m	3.5m	4.1m	3.8m	3.4m	3.4m	1.3m	1.3m	289,500	693,247
Stocks`30/36`	5.1m	7.0m	7.9m	7.0m	5.8m	6.6m	5.0m	3.5m	4.1m	3.8m	3.4m	3.4m	1.3m	1.3m	289,500	693,247
Goods purchased for resale`34`	5.1m	7.0m	7.9m	7.0m	5.8m	6.6m	5.0m	3.5m	4.1m	3.8m	3.4m	-	-	-	-	-
Amounts receivable within one year`40/41`	4.7m	5.2m	7.2m	5.1m	5.1m	2.9m	1.8m	2.5m	5.2m	5.9m	2.6m	3.6m	1.6m	1.8m	2.2m	2.2m
Trade receivables`40`	4.7m	5.2m	7.2m	5.1m	5.1m	2.9m	1.8m	2.5m	5.2m	5.9m	2.6m	3.6m	1.6m	1.8m	2.2m	2.2m
Other amounts receivable`41`	3,816	3,921	7,190	4,343	3,404	3,385	2,029	-	-	2,913	3,722	-	1,081	1,961	1,859	2,662
Cash at bank and in hand`54/58`	1.2m	1.7m	2.9m	3.2m	1.5m	1.8m	479,199	462,080	1.9m	518,635	1.2m	824,829	175,745	180,185	149,030	700,337
Deferred charges and accrued income`490/1`	4,224	5,141	4,827	21,898	2,536	-	-	-	-	-	-	-	-	-	12,614	-
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	11.5m	14.4m	18.4m	15.8m	12.9m	11.8m	7.8m	6.9m	11.3m	10.3m	7.3m	7.9m	3.1m	3.4m	2.7m	3.6m
Equity`10/15`	1.0m	2.2m	1.3m	2.3m	1.3m	428,329	218,589	116,624	347,837	289,081	151,561	129,462	103,347	86,964	68,045	46,369
Contributions`10/11`	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000
Issued capital`100`	-	-	-	-	-	-	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000	25,000
Reserves`13`	977,890	2.3m	2.3m	2.3m	2,500	2,500	2,500	2,500	2,500	2,500	2,500	2,500	2,500	2,500	2,500	2,500
Non-distributable reserves`130/1`	-	-	-	2,500	2,500	2,500	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	-	-	-	-	-	-	2,500	2,500	2,500	2,500	2,500	2,500	2,500	2,500	2,500	2,500
Reserves not available under the articles`1311`	-	-	-	2,500	2,500	2,500	-	-	-	-	-	-	-	-	-	-
Distributable reserves`133`	977,890	2.3m	2.3m	2.3m	-	-	-	-	-	-	-	-	-	-	-	-
Profit (loss) carried forward`14`	-	-85,112	-993,002	-	1.2m	400,829	191,089	89,124	320,337	261,581	124,061	101,962	75,847	59,464	40,545	18,869
Amounts payable`17/49`	10.5m	12.1m	17.1m	13.5m	11.6m	11.4m	7.6m	6.8m	10.9m	10.0m	7.1m	7.7m	3.0m	3.3m	2.6m	3.6m
Amounts payable after more than one year`17`	151,594	170,404	186,664	206,639	226,236	245,695	264,040	286,781	14,367	23,655	32,718	-	-	-	-	-
Financial debts`170/4`	151,594	170,404	186,664	206,639	226,236	245,695	264,040	286,781	14,367	23,655	32,718	-	-	-	-	-
Credit institutions`173`	151,594	170,404	186,664	206,639	226,236	245,695	264,040	281,933	-	-	-	-	-	-	-	-
Other loans`174`	-	-	-	-	-	-	-	4,848	14,367	23,655	32,718	-	-	-	-	-
Amounts payable within one year`42/48`	9.7m	11.9m	16.5m	13.3m	11.4m	10.6m	7.1m	6.1m	10.3m	9.9m	7.1m	7.7m	3.0m	3.3m	2.6m	3.6m
Current portion of amounts payable after more than one year`42`	18,809	17,786	19,974	19,597	19,217	18,345	22,741	27,008	10,052	9,062	8,842	-	-	-	-	-
Financial debts`43`	-	-	-	-	-	-	-	-	-	-	-	-	54	13	-	34
Credit institutions`430/8`	-	-	-	-	-	-	-	-	-	-	-	-	54	13	-	34
Trade debts`44`	9.2m	11.3m	14.5m	12.6m	10.7m	10.0m	6.4m	5.5m	9.7m	9.2m	6.3m	7.1m	2.4m	2.6m	1.9m	3.0m
Suppliers`440/4`	9.2m	11.3m	14.5m	12.6m	10.7m	10.0m	6.4m	5.5m	9.7m	9.2m	6.3m	7.1m	2.4m	2.6m	1.9m	3.0m
Advances received on contracts in progress`46`	-	-	1.4m	-	-	-	-	-	-	-	-	-	-	-	-	-
Taxes, remuneration and social security`45`	41,824	64,521	88,095	83,748	63,531	16,532	7,505	-	4,620	45,525	10,800	8,500	4,700	6,089	7,500	7,900
Taxes`450/3`	28,676	32,696	61,303	57,682	40,976	5,300	3,866	-	-	42,389	10,800	8,500	4,700	5,650	7,500	7,900
Remuneration and social security`454/9`	13,148	31,825	26,792	26,066	22,555	11,231	3,639	-	4,620	3,136	-	-	-	439	-	-
Other amounts payable`47/48`	444,412	520,974	499,377	547,888	554,777	549,902	633,043	632,605	641,917	724,658	709,363	647,735	598,241	674,635	724,271	600,480
Accrued charges and deferred income`492/3`	632,375	42,088	379,805	-	-	512,652	212,350	369,499	562,780	-	-	-	-	2,700	-	-
Income statement
Operating income`70/76A`	13.9m	16.1m	16.3m	20.1m	19.2m	12.2m	11.1m	12.2m	19.6m	20.8m	17.4m	-	-	-	-	-
Turnover`70`	13.8m	16.1m	16.3m	20.1m	19.2m	12.2m	11.1m	12.2m	19.6m	20.8m	17.4m	-	-	-	-	-
Other operating income`74`	15,436	10,317	10,253	10,301	7,133	-	-	-	-	-	-	-	-	-	-	-
Non-recurring operating income`76A`	-	-	-	-	6,957	3,505	-	-	-	-	-	-	-	-	-	-
Gross operating margin`9900`	-	-	-	-	-	-	-	-	-	-	-	365,515	2,577	68,808	133,154	93,799
Operating charges`60/66A`	15.0m	15.3m	17.3m	18.9m	18.4m	12.1m	11.1m	12.5m	19.4m	20.5m	17.0m	-	-	-	-	-
Goods for resale, raw materials and consumables`60`	14.5m	14.3m	16.8m	18.4m	18.0m	11.7m	10.7m	11.7m	19.0m	20.2m	16.8m	-	-	-	-	-
Purchases`600/8`	12.6m	13.4m	17.7m	19.6m	17.3m	13.3m	12.2m	11.0m	19.4m	20.5m	16.7m	-	-	-	-	-
Change in stocks: decrease (increase)`609`	1.9m	892,519	-941,426	-1.1m	731,268	-1.6m	-1.5m	681,128	-344,934	-386,028	42,873	-	-	-	-	-
Services and other goods`61`	377,579	322,524	325,210	314,715	333,116	261,727	285,219	307,238	286,760	309,742	252,957	-	-	-	-	-
Remuneration, social security and pensions`62`	166,712	168,600	188,063	109,658	67,337	24,807	35,175	-	706	17,019	-	-	-	9,887	-	-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	21,053	22,159	22,610	20,797	16,609	21,652	26,331	11,690	11,577	11,712	7,305	1,827	1,534	3,201	2,963	2,353
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)`631/4`	8,063	316,035	-	-1,093	-	17,652	-	412,283	106,651	-	-	-	-	-	-	-
Other operating charges`640/8`	6,190	112,029	6,658	36,953	3,792	5,283	4,760	102,553	505	730	2,241	292	290	256	254	1,052
Non-recurring operating charges`66A`	4,840	-	-	22,633	-	36,698	-	-	-	-	-	8,397	18,008	50,923	-	-
Operating profit (loss)`9901`	-1.2m	865,738	-953,566	1.2m	800,111	117,508	19,810	-271,482	175,761	275,641	366,957	363,396	753	55,464	129,938	90,395
Financial income`75/76B`	28,128	70,369	2,323	236,896	80,542	113,137	103,719	63,669	42	388	76	22	42,864	27,476	79	-
Recurring financial income`75`	28,128	70,369	2,323	219,264	80,542	113,137	103,719	63,669	42	388	76	22	42,864	27,476	79	-
Income from current assets`751`	-	-	-	-	-	-	243	-	1	6	-	-	-	-	-	-
Other financial income`752/9`	28,128	70,369	2,323	219,264	80,542	113,137	103,476	63,669	41	382	76	-	-	-	-	-
Non-recurring financial income`76B`	-	-	-	17,632	-	-	-	-	-	-	-	-	-	-	-	-
Financial charges`65/66B`	29,196	27,750	17,777	311,032	21,551	20,618	20,740	23,042	117,548	96,485	333,949	320,377	4,629	7,792	101,020	61,125
Recurring financial charges`65`	29,196	27,750	17,777	311,032	21,551	20,618	20,740	23,042	117,548	96,485	333,949	320,377	4,629	7,792	101,020	61,125
Debt charges`650`	10,111	7,552	4,042	4,649	5,575	6,604	7,222	4,134	704	934	-	-	-	-	-	-
Other financial charges`652/9`	19,085	20,198	13,735	306,383	15,976	14,014	13,518	18,908	116,844	95,551	333,949	-	-	-	-	-
Profit (loss) for the period before taxes`9903`	-1.2m	908,357	-969,019	1.1m	859,102	210,027	102,789	-230,855	58,255	179,543	33,084	34,644	20,979	24,225	28,996	29,269
Income taxes`67/77`	20,312	467	23,983	53,591	28,194	288	823	358	-501	42,023	10,986	8,529	4,596	5,307	7,320	7,900
Taxes`670/3`	20,312	470	23,983	53,591	28,200	300	823	358	0	42,023	10,986	-	-	-	-	-
Tax adjustments and reversals of tax provisions`77`	-	3	-	-	6	12	-	-	502	-	-	-	-	-	-	-
Profit (loss) for the period`9904`	-1.2m	907,890	-993,002	1.0m	830,908	209,740	101,966	-231,214	58,756	137,520	22,098	26,115	16,383	18,919	21,676	21,369
Profit (loss) for the period to be appropriated`9905`	-1.2m	907,890	-993,002	1.0m	830,908	209,740	101,966	-231,214	58,756	137,520	22,098	26,115	16,383	18,919	21,676	21,369
Appropriation of the result
Profit (loss) to be appropriated`9906`	-1.3m	-85,112	-993,002	2.3m	1.2m	400,829	191,089	89,124	320,337	261,581	124,061	101,962	75,847	59,464	40,545	21,369
Profit (loss) brought forward from the previous period`14P`	-85,112	-993,002	-	1.2m	400,829	-	-	-	-	-	-	-	-	-	-	-
Transfer from equity`791/2`	1.3m	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
From reserves`792`	1.3m	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transfer to equity`691/2`	-	-	-	2.3m	-	-	-	-	-	-	-	-	-	-	-	2,500
To the legal reserve`6920`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,500
To other reserves`6921`	-	-	-	2.3m	-	-	-	-	-	-	-	-	-	-	-	-
Social balance sheet
Average staff (FTE)`9087`	3.9	4	4.5	4	1.8	1	1.3	-	-	0.8	-	-	-	0.4	-	-
Men (FTE)`1003`	-	4	4.5	3.1	1.8	1	1.3	-	-	0.8	-	-	-	-	-	-
Hours worked`1013`	6,773	7,084	7,691	5,457	2,965	1,201	2,060	-	38	1,064	-	-	-	813	-	-
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Financial year	Type	Filed	Reference	Document
31-12-2025	full format	01-07-2026	2026-00243970	PDF
31-12-2024	full format	23-07-2025	2025-00299576	PDF
31-12-2023	full format	26-06-2024	2024-00173340	PDF
31-12-2022	full format	03-07-2023	2023-00216603	PDF
31-12-2021	full format	28-07-2022	2022-20234987	PDF
31-12-2020	full format	27-07-2021	2021-40000517	PDF
31-12-2019	full format	18-08-2020	2020-41700354	PDF
31-12-2018	full format	08-07-2019	2019-29400108	PDF
31-12-2017	full format	30-07-2018	2018-39000231	PDF
31-12-2016	full format	26-07-2017	2017-35200417	PDF
31-12-2015	full format	27-07-2016	2016-35400209	PDF
31-12-2014	abbreviated format	31-07-2015	2015-37800025	PDF
31-12-2013	abbreviated format	23-07-2014	2014-32700175	PDF
31-12-2012	abbreviated format	30-07-2013	2013-36100170	PDF
31-12-2011	abbreviated format	20-07-2012	2012-31200492	PDF
31-12-2010	abbreviated format	27-07-2011	2011-33200233	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
EBITDA	-1.2m	887,897	-930,955	1.2m	816,720	139,159	46,141	-259,792	187,338	287,353	374,262	365,223	2,287	58,665	132,900	92,748
Cash flow	-1.2m	930,050	-970,392	1.1m	847,517	231,391	128,297	-219,523	70,333	149,232	29,404	27,942	17,917	22,120	24,639	23,722
Investment in fixed assets (approximation)	0	0	1,700	33,976	0	6,678	6,940	508,371	0	1,190	52,720	1,465	0	1,403	5,345	8,432
Change in cash	-473,791	-1.2m	-396,535	1.8m	-362,983	1.4m	17,118	-1.5m	1.4m	-642,385	336,192	649,083	-4,440	31,155	-551,307	-
Working capital	1.4m	2.0m	1.4m	2.0m	1.0m	696,278	189,607	248,141	896,902	273,077	134,098	124,696	98,218	83,001	59,584	40,290
EBIT margin	-8.6%	5.4%	-5.8%	5.8%	4.2%	1.0%	0.2%	-2.2%	0.9%	1.3%	2.1%	-	-	-	-	-
Solvency	8.7%	15.4%	7.1%	14.5%	9.8%	3.6%	2.8%	1.7%	3.1%	2.8%	2.1%	1.6%	3.3%	2.6%	2.5%	1.3%
Current ratio	1.14	1.17	1.08	1.15	1.09	1.07	1.03	1.04	1.09	1.03	1.02	1.02	1.03	1.03	1.02	1.01
Quick ratio	0.61	0.58	0.61	0.63	0.58	0.45	0.33	0.48	0.69	0.65	0.54	0.57	0.61	0.62	0.91	0.82
Debt to equity	10.45	5.50	13.12	5.88	9.21	26.54	34.68	58.14	31.39	34.48	46.90	59.78	28.87	37.54	38.77	77.09
ROE	-120.4%	41.1%	-76.3%	45.1%	66.0%	49.0%	46.6%	-198.3%	16.9%	47.6%	14.6%	20.2%	15.9%	21.8%	31.9%	46.1%
ROA	-10.5%	6.3%	-5.4%	6.6%	6.5%	1.8%	1.3%	-3.4%	0.5%	1.3%	0.3%	0.3%	0.5%	0.6%	0.8%	0.6%
Interest coverage	-115.20	over 100	-230.33	over 100	over 100	21.07	6.39	-62.84	over 100	over 100	-	-	-	-	-	-
Customer credit	125 days	118 days	160 days	92 days	96 days	87 days	61 days	73 days	97 days	104 days	56 days	-	-	-	-	-
Supplier credit	226 days	282 days	310 days	246 days	214 days	306 days	214 days	166 days	183 days	163 days	136 days	-	-	-	-	-

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	4	4	4	4	2
full-time	4	4	4	4	2
in full-time equivalents	4	4	4	4	2
Average over the year, in full-time equivalents	3.9	4	4.5	3.1	1.8
On a permanent contract	3	3	3	3	1
Joined	2	-	1	3	1
Left	2	-	1	1	0

Item	2025	2024	2023	2022	2021
Debts secured on the company's own assets	€170,404	€188,190	€206,639	€226,236	€245,453
Mortgages, amount registered	€308,000	€308,000	€308,000	€308,000	€308,000
Carrying value of the mortgaged assets	€412,134	€426,392	€440,650	€454,908	€469,166

BHAVYA

Annual accounts 2025

Money flows

Balance sheet

Change in equityin €m

Change in cashin €m

Position in the sector

Solvency8.7%

Current ratio1.14

Return on assets-10.5%

Staff

Staff cost per FTE€42,747

Joined and left+0

Filed annual accounts

Filings

Key figures and ratios

Social balance sheet

Securities and guarantees

Investments

Auditor

Insights on BHAVYA

Next steps

Item	2025	2024	2023	2022	2021
Tangible fixed assets	-	-	-	€33,976	-
Depreciation and write-downs of the year	€21,053	€22,159	€22,610	€20,797	€16,609