B.V.D.S.: 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.
B.V.D.S.
Largest movements
- Tangible fixed assets -€52,094
down €52,094 (-3.5%), from €1.5m to €1.5m
of which Land and buildings: -€52,685
- Cash +€16,724
up €16,724 (+48.8%), from €34,287 to €51,012
mainly Net result for the year (+€64,107) and Depreciation (+€53,673)
- Reserves +€266,399
up €266,399 (+62.2%), from €428,101 to €694,500
of which Distributable reserves: +€266,399
- Profit (loss) carried forward -€249,292
down €249,292 (-99.3%), from €251,103 to €1,810
- Debts after one year -€44,870
down €44,870 (-11.0%), from €409,171 to €364,301
- Other debts -€25,000
down €25,000 (-12.8%), from €195,000 to €170,000
- Gross operating margin +€14,103
up €14,103 (+6.3%), from €223,406 to €237,510
- Staff costs -€11,767
down €11,767 (-37.2%), from €31,670 to €19,903
- Taxes +€7,936
up €7,936 (+33.6%), from €23,596 to €31,532
- Other operating charges +€5,712
up €5,712 (+13.1%), from €43,644 to €49,356
- Depreciation -€3,059
down €3,059 (-5.4%), from €56,732 to €53,673
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,561,647 | €1,518,409 | -€43,238 | -2.8% |
| Fixed assets | 21/28 | €1,507,143 | €1,455,049 | -€52,094 | -3.5% |
| Tangible fixed assets | 22/27 | €1,506,909 | €1,454,815 | -€52,094 | -3.5% |
| Land and buildings | 22 | €1,505,927 | €1,453,242 | -€52,685 | -3.5% |
| Furniture and vehicles | 24 | €982 | €1,572 | +€591 | +60.2% |
| Financial fixed assets | 28 | €235 | €235 | = | 0.0% |
| Current assets | 29/58 | €54,504 | €63,360 | +€8,856 | +16.2% |
| Amounts receivable within one year | 40/41 | €20,216 | €5,049 | -€15,167 | -75.0% |
| Trade receivables | 40 | - | €580 | +€580 | |
| Other amounts receivable | 41 | €20,216 | €4,469 | -€15,748 | -77.9% |
| Current investments | 50/53 | - | €402 | +€402 | |
| Cash at bank and in hand | 54/58 | €34,287 | €51,012 | +€16,724 | +48.8% |
| Deferred charges and accrued income | 490/1 | - | €6,898 | +€6,898 | |
| Total equity and liabilities | 10/49 | €1,561,647 | €1,518,409 | -€43,238 | -2.8% |
| Equity | 10/15 | €879,203 | €896,310 | +€17,107 | +1.9% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €428,101 | €694,500 | +€266,399 | +62.2% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €408,101 | €674,500 | +€266,399 | +65.3% |
| Profit (loss) carried forward | 14 | €251,103 | €1,810 | -€249,292 | -99.3% |
| Amounts payable | 17/49 | €682,444 | €622,099 | -€60,345 | -8.8% |
| Amounts payable after more than one year | 17 | €409,171 | €364,301 | -€44,870 | -11.0% |
| Financial debts | 170/4 | €409,171 | €364,301 | -€44,870 | -11.0% |
| Amounts payable within one year | 42/48 | €241,874 | €226,400 | -€15,475 | -6.4% |
| Current portion of amounts payable after more than one year | 42 | €42,977 | €44,870 | +€1,893 | +4.4% |
| Trade debts | 44 | €261 | €9,322 | +€9,061 | +3,476% |
| Suppliers | 440/4 | €261 | €9,322 | +€9,061 | +3,476% |
| Taxes, remuneration and social security | 45 | €3,637 | €2,208 | -€1,429 | -39.3% |
| Remuneration and social security | 454/9 | €3,637 | €2,208 | -€1,429 | -39.3% |
| Other amounts payable | 47/48 | €195,000 | €170,000 | -€25,000 | -12.8% |
| Accrued charges and deferred income | 492/3 | €31,398 | €31,398 | +€0 | 0.0% |
| Remuneration, social security and pensions | 62 | €31,670 | €19,903 | -€11,767 | -37.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,732 | €53,673 | -€3,059 | -5.4% |
| Other operating charges | 640/8 | €43,644 | €49,356 | +€5,712 | +13.1% |
| Gross operating margin | 9900 | €223,406 | €237,510 | +€14,103 | +6.3% |
| Operating profit (loss) | 9901 | €91,360 | €114,579 | +€23,219 | +25.4% |
| Financial income | 75/76B | €2 | €90 | +€88 | +4,782% |
| Recurring financial income | 75 | €2 | €90 | +€88 | +4,782% |
| Financial charges | 65/66B | €20,777 | €19,030 | -€1,748 | -8.4% |
| Recurring financial charges | 65 | €20,777 | €19,030 | -€1,748 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €70,585 | €95,639 | +€25,055 | +35.5% |
| Income taxes | 67/77 | €23,596 | €31,532 | +€7,936 | +33.6% |
| Profit (loss) for the period | 9904 | €46,988 | €64,107 | +€17,119 | +36.4% |
| Profit (loss) for the period to be appropriated | 9905 | €46,988 | €64,107 | +€17,119 | +36.4% |
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 17 October 2026 via checked.be.