B.V.K.: 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.K.
Largest movements
- Tangible fixed assets +€75,515
up €75,515 (+490%), from €15,403 to €90,918
of which Furniture and vehicles: +€54,552
- Financial fixed assets +€50,000
up €50,000 (+43.1%), from €116,000 to €166,000
- Cash +€27,582
up €27,582 (+122%), from €22,532 to €50,114
mainly Net result for the year (+€61,413) and Debts after one year (+€45,882)
- Current investments -€7,100
down €7,100 (-48.2%), from €14,722 to €7,622
- Receivables within one year +€4,032
up €4,032 (+68.4%), from €5,893 to €9,925
of which Trade receivables: +€5,468
- Reserves +€54,550
up €54,550 (+61.6%), from €88,600 to €143,150
of which Distributable reserves: +€33,500
- Debts after one year +€45,882
new in 2025: €45,882
- Other debts +€26,061
up €26,061 (+133%), from €19,594 to €45,655
- Current portion of long-term debt +€15,407
new in 2025: €15,407
- Tax, wage and social debts +€5,248
up €5,248 (+133%), from €3,954 to €9,201
of which Taxes: +€4,976
- Gross operating margin +€40,892
up €40,892 (+40.6%), from €100,735 to €141,627
- Depreciation +€12,868
up €12,868 (+108%), from €11,911 to €24,780
- Taxes +€10,238
up €10,238 (+65.0%), from €15,742 to €25,979
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 | €177,823 | €325,819 | +€147,996 | +83.2% |
| Fixed assets | 21/28 | €131,403 | €256,918 | +€125,515 | +95.5% |
| Tangible fixed assets | 22/27 | €15,403 | €90,918 | +€75,515 | +490% |
| Plant, machinery and equipment | 23 | €7,302 | €3,978 | -€3,324 | -45.5% |
| Furniture and vehicles | 24 | - | €54,552 | +€54,552 | |
| Other tangible fixed assets | 26 | €8,102 | €32,388 | +€24,287 | +300% |
| Financial fixed assets | 28 | €116,000 | €166,000 | +€50,000 | +43.1% |
| Current assets | 29/58 | €46,419 | €68,901 | +€22,482 | +48.4% |
| Stocks and contracts in progress | 3 | €2,304 | - | -€2,304 | |
| Contracts in progress | 37 | €2,304 | - | -€2,304 | |
| Amounts receivable within one year | 40/41 | €5,893 | €9,925 | +€4,032 | +68.4% |
| Trade receivables | 40 | €2,378 | €7,846 | +€5,468 | +230% |
| Other amounts receivable | 41 | €3,515 | €2,079 | -€1,436 | -40.9% |
| Current investments | 50/53 | €14,722 | €7,622 | -€7,100 | -48.2% |
| Cash at bank and in hand | 54/58 | €22,532 | €50,114 | +€27,582 | +122% |
| Deferred charges and accrued income | 490/1 | €969 | €1,240 | +€271 | +28.0% |
| Total equity and liabilities | 10/49 | €177,823 | €325,819 | +€147,996 | +83.2% |
| Equity | 10/15 | €154,037 | €209,450 | +€55,413 | +36.0% |
| Reserves | 13 | €88,600 | €143,150 | +€54,550 | +61.6% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €20,000 | €20,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €42,100 | €63,150 | +€21,050 | +50.0% |
| Distributable reserves | 133 | €26,500 | €60,000 | +€33,500 | +126% |
| Profit (loss) carried forward | 14 | €65,437 | €66,300 | +€863 | +1.3% |
| Amounts payable | 17/49 | €23,786 | €116,369 | +€92,583 | +389% |
| Amounts payable after more than one year | 17 | - | €45,882 | +€45,882 | |
| Financial debts | 170/4 | - | €45,882 | +€45,882 | |
| Amounts payable within one year | 42/48 | €23,786 | €70,487 | +€46,701 | +196% |
| Current portion of amounts payable after more than one year | 42 | - | €15,407 | +€15,407 | |
| Trade debts | 44 | €239 | €224 | -€15 | -6.1% |
| Suppliers | 440/4 | €239 | €224 | -€15 | -6.1% |
| Taxes, remuneration and social security | 45 | €3,954 | €9,201 | +€5,248 | +133% |
| Taxes | 450/3 | €77 | €5,053 | +€4,976 | +6,454% |
| Remuneration and social security | 454/9 | €3,877 | €4,148 | +€272 | +7.0% |
| Other amounts payable | 47/48 | €19,594 | €45,655 | +€26,061 | +133% |
| Remuneration, social security and pensions | 62 | €29,789 | €30,942 | +€1,154 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,911 | €24,780 | +€12,868 | +108% |
| Other operating charges | 640/8 | €1,425 | €1,519 | +€94 | +6.6% |
| Non-recurring operating charges | 66A | €2,289 | - | -€2,289 | |
| Gross operating margin | 9900 | €100,735 | €141,627 | +€40,892 | +40.6% |
| Operating profit (loss) | 9901 | €55,320 | €84,386 | +€29,066 | +52.5% |
| Financial income | 75/76B | €4,632 | €4,380 | -€252 | -5.4% |
| Recurring financial income | 75 | €4,632 | €4,380 | -€252 | -5.4% |
| Financial charges | 65/66B | €396 | €1,373 | +€977 | +247% |
| Recurring financial charges | 65 | €396 | €1,373 | +€977 | +247% |
| Profit (loss) for the period before taxes | 9903 | €59,556 | €87,393 | +€27,837 | +46.7% |
| Income taxes | 67/77 | €15,742 | €25,979 | +€10,238 | +65.0% |
| Profit (loss) for the period | 9904 | €43,814 | €61,413 | +€17,599 | +40.2% |
| Transfer to tax-exempt reserves | 689 | €21,050 | €21,050 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,764 | €40,363 | +€17,599 | +77.3% |
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 21 October 2026 via checked.be.