Alexis Van Bavel: what changed
Alexis Van Bavel
Largest movements
- Receivables within one year +€623,755
up €623,755 (+164%), from €379,866 to €1.0m
of which Other amounts receivable: +€548,335
- Receivables after one year -€211,716
no longer reported in 2025 (was €211,716)
- Cash +€126,130
up €126,130 (+68.0%), from €185,523 to €311,653
mainly Net result for the year (+€463,396) and Receivables after one year (+€211,716)
- Tangible fixed assets -€31,674
down €31,674 (-30.1%), from €105,332 to €73,658
of which Furniture and vehicles: -€31,781
- Current investments -€27,890
down €27,890 (-8.4%), from €330,926 to €303,036
- Reserves +€433,000
up €433,000 (+41.9%), from €1.0m to €1.5m
- Tax, wage and social debts +€99,230
up €99,230 (+160%), from €62,197 to €161,427
- Other debts -€57,000
no longer reported in 2025 (was €57,000)
- Gross operating margin +€201,133
up €201,133 (+42.5%), from €472,869 to €674,002
- Taxes +€69,517
up €69,517 (+48.8%), from €142,528 to €212,045
- Financial income +€13,619
up €13,619 (+57.0%), from €23,904 to €37,523
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,216,684 | €1,695,575 | +€478,890 | +39.4% |
| Fixed assets | 21/28 | €105,332 | €73,658 | -€31,674 | -30.1% |
| Tangible fixed assets | 22/27 | €105,332 | €73,658 | -€31,674 | -30.1% |
| Plant, machinery and equipment | 23 | €1,782 | €1,889 | +€106 | +6.0% |
| Furniture and vehicles | 24 | €103,550 | €71,769 | -€31,781 | -30.7% |
| Current assets | 29/58 | €1,111,352 | €1,621,917 | +€510,565 | +45.9% |
| Amounts receivable after more than one year | 29 | €211,716 | - | -€211,716 | |
| Other amounts receivable | 291 | €211,716 | - | -€211,716 | |
| Amounts receivable within one year | 40/41 | €379,866 | €1,003,621 | +€623,755 | +164% |
| Trade receivables | 40 | €156,128 | €231,547 | +€75,419 | +48.3% |
| Other amounts receivable | 41 | €223,739 | €772,074 | +€548,335 | +245% |
| Current investments | 50/53 | €330,926 | €303,036 | -€27,890 | -8.4% |
| Cash at bank and in hand | 54/58 | €185,523 | €311,653 | +€126,130 | +68.0% |
| Deferred charges and accrued income | 490/1 | €3,321 | €3,607 | +€286 | +8.6% |
| Total equity and liabilities | 10/49 | €1,216,684 | €1,695,575 | +€478,890 | +39.4% |
| Equity | 10/15 | €1,094,748 | €1,531,144 | +€436,396 | +39.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,033,860 | €1,466,860 | +€433,000 | +41.9% |
| Distributable reserves | 133 | €1,033,860 | €1,466,860 | +€433,000 | +41.9% |
| Profit (loss) carried forward | 14 | €42,288 | €45,684 | +€3,396 | +8.0% |
| Amounts payable | 17/49 | €121,936 | €164,430 | +€42,494 | +34.8% |
| Amounts payable within one year | 42/48 | €121,915 | €164,404 | +€42,490 | +34.9% |
| Current portion of amounts payable after more than one year | 42 | €845 | - | -€845 | |
| Trade debts | 44 | €1,872 | €2,977 | +€1,105 | +59.1% |
| Suppliers | 440/4 | €1,872 | €2,977 | +€1,105 | +59.1% |
| Taxes, remuneration and social security | 45 | €62,197 | €161,427 | +€99,230 | +160% |
| Taxes | 450/3 | €62,197 | €161,427 | +€99,230 | +160% |
| Other amounts payable | 47/48 | €57,000 | - | -€57,000 | |
| Accrued charges and deferred income | 492/3 | €21 | €26 | +€4 | +19.8% |
| Non-recurring operating income | 76A | €10,008 | - | -€10,008 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,902 | €33,169 | +€267 | +0.8% |
| Other operating charges | 640/8 | €1,633 | €1,619 | -€14 | -0.8% |
| Gross operating margin | 9900 | €472,869 | €674,002 | +€201,133 | +42.5% |
| Operating profit (loss) | 9901 | €438,334 | €639,214 | +€200,880 | +45.8% |
| Financial income | 75/76B | €23,904 | €37,523 | +€13,619 | +57.0% |
| Recurring financial income | 75 | €23,904 | €37,523 | +€13,619 | +57.0% |
| Financial charges | 65/66B | €2,329 | €1,296 | -€1,033 | -44.4% |
| Recurring financial charges | 65 | €2,329 | €1,296 | -€1,033 | -44.4% |
| Profit (loss) for the period before taxes | 9903 | €459,909 | €675,441 | +€215,532 | +46.9% |
| Income taxes | 67/77 | €142,528 | €212,045 | +€69,517 | +48.8% |
| Profit (loss) for the period | 9904 | €317,381 | €463,396 | +€146,015 | +46.0% |
| Transfer from tax-exempt reserves | 789 | €25,155 | - | -€25,155 | |
| Profit (loss) for the period to be appropriated | 9905 | €342,536 | €463,396 | +€120,860 | +35.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.