B.V.K.G.: 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.G.
Largest movements
- Cash +€36,629
up €36,629 (+16.5%), from €222,479 to €259,108
mainly Net result for the year (+€72,761) and Receivables within one year (+€26,767)
- Receivables within one year -€26,767
down €26,767 (-45.0%), from €59,427 to €32,660
of which Trade receivables: -€35,957
- Tangible fixed assets -€10,800
down €10,800 (-3.0%), from €355,261 to €344,461
- Reserves +€72,761
up €72,761 (+16.0%), from €454,983 to €527,744
- Other debts -€42,378
no longer reported in 2025 (was €42,378)
- Debts after one year -€23,924
down €23,924 (-25.7%), from €93,142 to €69,218
- Tax, wage and social debts -€7,104
down €7,104 (-41.2%), from €17,244 to €10,140
- Gross operating margin -€51,361
down €51,361 (-27.9%), from €183,779 to €132,418
- Taxes -€9,722
down €9,722 (-21.5%), from €45,191 to €35,470
- Financial charges -€4,122
down €4,122 (-56.6%), from €7,285 to €3,163
of which Financial charges: -€5,170
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 | €643,261 | €639,780 | -€3,481 | -0.5% |
| Fixed assets | 21/28 | €355,261 | €344,461 | -€10,800 | -3.0% |
| Tangible fixed assets | 22/27 | €355,261 | €344,461 | -€10,800 | -3.0% |
| Land and buildings | 22 | €300,522 | €295,553 | -€4,969 | -1.7% |
| Plant, machinery and equipment | 23 | €3,512 | €3,863 | +€352 | +10.0% |
| Furniture and vehicles | 24 | €42,929 | €39,709 | -€3,220 | -7.5% |
| Other tangible fixed assets | 26 | €8,298 | €5,335 | -€2,963 | -35.7% |
| Current assets | 29/58 | €288,000 | €295,319 | +€7,319 | +2.5% |
| Amounts receivable within one year | 40/41 | €59,427 | €32,660 | -€26,767 | -45.0% |
| Trade receivables | 40 | €56,374 | €20,417 | -€35,957 | -63.8% |
| Other amounts receivable | 41 | €3,053 | €12,243 | +€9,190 | +301% |
| Cash at bank and in hand | 54/58 | €222,479 | €259,108 | +€36,629 | +16.5% |
| Deferred charges and accrued income | 490/1 | €6,094 | €3,551 | -€2,544 | -41.7% |
| Total equity and liabilities | 10/49 | €643,261 | €639,780 | -€3,481 | -0.5% |
| Equity | 10/15 | €454,983 | €527,744 | +€72,761 | +16.0% |
| Reserves | 13 | €454,983 | €527,744 | +€72,761 | +16.0% |
| Distributable reserves | 133 | €454,983 | €527,744 | +€72,761 | +16.0% |
| Amounts payable | 17/49 | €188,278 | €112,036 | -€76,242 | -40.5% |
| Amounts payable after more than one year | 17 | €93,142 | €69,218 | -€23,924 | -25.7% |
| Financial debts | 170/4 | €93,142 | €69,218 | -€23,924 | -25.7% |
| Amounts payable within one year | 42/48 | €89,270 | €41,880 | -€47,389 | -53.1% |
| Current portion of amounts payable after more than one year | 42 | €26,018 | €24,215 | -€1,803 | -6.9% |
| Trade debts | 44 | €3,629 | €7,525 | +€3,896 | +107% |
| Suppliers | 440/4 | €3,629 | €7,525 | +€3,896 | +107% |
| Taxes, remuneration and social security | 45 | €17,244 | €10,140 | -€7,104 | -41.2% |
| Taxes | 450/3 | €17,244 | €10,140 | -€7,104 | -41.2% |
| Other amounts payable | 47/48 | €42,378 | - | -€42,378 | |
| Accrued charges and deferred income | 492/3 | €5,867 | €938 | -€4,929 | -84.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,916 | €21,087 | -€1,829 | -8.0% |
| Other operating charges | 640/8 | €1,958 | €1,887 | -€71 | -3.6% |
| Gross operating margin | 9900 | €183,779 | €132,418 | -€51,361 | -27.9% |
| Operating profit (loss) | 9901 | €158,905 | €109,444 | -€49,462 | -31.1% |
| Financial income | 75/76B | €919 | €1,949 | +€1,030 | +112% |
| Recurring financial income | 75 | €919 | €1,949 | +€1,030 | +112% |
| Financial charges | 65/66B | €7,285 | €3,163 | -€4,122 | -56.6% |
| Recurring financial charges | 65 | €7,285 | €2,115 | -€5,170 | -71.0% |
| Non-recurring financial charges | 66B | - | €1,047 | +€1,047 | |
| Profit (loss) for the period before taxes | 9903 | €152,540 | €108,230 | -€44,309 | -29.0% |
| Income taxes | 67/77 | €45,191 | €35,470 | -€9,722 | -21.5% |
| Profit (loss) for the period | 9904 | €107,348 | €72,761 | -€34,588 | -32.2% |
| Profit (loss) for the period to be appropriated | 9905 | €107,348 | €72,761 | -€34,588 | -32.2% |
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 27 October 2026 via checked.be.