B&V PROJECTS: what changed
Two fiscal 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 PROJECTS
Largest movements
- Stocks and contracts +€24,275
up €24,275 (+692.1%), from €3,508 to €27,783
of which Contracts in progress: +€19,735
- Cash +€11,394
up €11,394 (+222.7%), from €5,117 to €16,511
mainly Current portion of long-term debt (+€12,321) and Trade debts (+€10,399)
- Receivables within one year -€8,260
down €8,260 (-24.4%), from €33,830 to €25,570
of which Trade receivables: -€10,892
- Tangible fixed assets -€5,534
down €5,534 (-31.8%), from €17,412 to €11,878
of which Plant, machinery and equipment: -€4,165
- Deferred charges and accrued income -€898
down €898 (-48.6%), from €1,849 to €951
- Current portion of long-term debt +€12,321
up €12,321 (+124.1%), from €9,929 to €22,250
- Trade debts +€10,399
up €10,399 (+54.5%), from €19,080 to €29,479
- Tax, wage and social debts -€8,785
down €8,785 (-64.9%), from €13,541 to €4,756
- Reserves +€8,077
up €8,077 (+154.8%), from €5,217 to €13,294
- Advances received -€1,033
no longer reported in 2025 (was €1,033)
- Gross operating margin +€34,449
up €34,449, from -€14,384 to €20,065
- Depreciation -€4,189
down €4,189 (-47.9%), from €8,743 to €4,554
- Financial charges +€1,775
up €1,775 (+51.5%), from €3,445 to €5,220
- Taxes +€876
new in 2025: €876
- Other operating charges +€588
up €588 (+44.3%), from €1,326 to €1,914
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.
Cash bridge derived
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 | €61,715 | €82,694 | +€20,978 | +34.0% |
| Fixed assets | 21/28 | €17,412 | €11,878 | -€5,534 | -31.8% |
| Tangible fixed assets | 22/27 | €17,412 | €11,878 | -€5,534 | -31.8% |
| Plant, machinery and equipment | 23 | €14,259 | €10,094 | -€4,165 | -29.2% |
| Furniture and vehicles | 24 | €2,596 | €1,320 | -€1,276 | -49.1% |
| Other tangible fixed assets | 26 | €557 | €464 | -€93 | -16.7% |
| Current assets | 29/58 | €44,303 | €70,815 | +€26,512 | +59.8% |
| Stocks and contracts in progress | 3 | €3,508 | €27,783 | +€24,275 | +692.1% |
| Stocks | 30/36 | €3,508 | €8,048 | +€4,540 | +129.4% |
| Contracts in progress | 37 | - | €19,735 | +€19,735 | |
| Amounts receivable within one year | 40/41 | €33,830 | €25,570 | -€8,260 | -24.4% |
| Trade receivables | 40 | €30,122 | €19,230 | -€10,892 | -36.2% |
| Other amounts receivable | 41 | €3,708 | €6,340 | +€2,632 | +71.0% |
| Cash at bank and in hand | 54/58 | €5,117 | €16,511 | +€11,394 | +222.7% |
| Deferred charges and accrued income | 490/1 | €1,849 | €951 | -€898 | -48.6% |
| Total equity and liabilities | 10/49 | €61,715 | €82,694 | +€20,978 | +34.0% |
| Equity | 10/15 | €12,717 | €20,794 | +€8,077 | +63.5% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Capital | 10 | €7,500 | €7,500 | = | 0.0% |
| Issued capital | 100 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €5,217 | €13,294 | +€8,077 | +154.8% |
| Distributable reserves | 133 | €5,217 | €13,294 | +€8,077 | +154.8% |
| Amounts payable | 17/49 | €48,998 | €61,900 | +€12,901 | +26.3% |
| Amounts payable after more than one year | 17 | €5,415 | €5,415 | = | 0.0% |
| Financial debts | 170/4 | €5,415 | €5,415 | = | 0.0% |
| Amounts payable within one year | 42/48 | €43,583 | €56,484 | +€12,901 | +29.6% |
| Current portion of amounts payable after more than one year | 42 | €9,929 | €22,250 | +€12,321 | +124.1% |
| Trade debts | 44 | €19,080 | €29,479 | +€10,399 | +54.5% |
| Suppliers | 440/4 | €19,080 | €29,479 | +€10,399 | +54.5% |
| Advances received on contracts in progress | 46 | €1,033 | - | -€1,033 | |
| Taxes, remuneration and social security | 45 | €13,541 | €4,756 | -€8,785 | -64.9% |
| Taxes | 450/3 | €13,541 | €4,756 | -€8,785 | -64.9% |
| Non-recurring operating income | 76A | €9,000 | - | -€9,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,743 | €4,554 | -€4,189 | -47.9% |
| Other operating charges | 640/8 | €1,326 | €1,914 | +€588 | +44.3% |
| Gross operating margin | 9900 | -€14,384 | €20,065 | +€34,449 | |
| Operating profit (loss) | 9901 | -€24,453 | €13,597 | +€38,050 | |
| Financial income | 75/76B | €81 | €576 | +€494 | +609.9% |
| Recurring financial income | 75 | €81 | €576 | +€494 | +609.9% |
| Financial charges | 65/66B | €3,445 | €5,220 | +€1,775 | +51.5% |
| Recurring financial charges | 65 | €3,445 | €5,220 | +€1,775 | +51.5% |
| Profit (loss) for the period before taxes | 9903 | -€27,817 | €8,953 | +€36,769 | |
| Income taxes | 67/77 | - | €876 | +€876 | |
| Profit (loss) for the period | 9904 | -€27,817 | €8,077 | +€35,894 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,817 | €8,077 | +€35,894 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.