B-VALUE INVEST: 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-VALUE INVEST
Largest movements
- Receivables within one year +€486,287
up €486,287 (+7.6%), from €6.4m to €6.9m
of which Other amounts receivable: +€478,563
- Cash -€470,699
down €470,699 (-44.0%), from €1.1m to €599,156
mainly Receivables within one year (-€486,287) and Investment in fixed assets (net) (-€219,623)
- Financial fixed assets +€278,162
up €278,162 (+7.8%), from €3.6m to €3.9m
- Other debts +€350,325
up €350,325 (+12.6%), from €2.8m to €3.1m
- Financial income -€170,435
down €170,435 (-26.8%), from €636,874 to €466,439
- Gross operating margin -€88,917
down €88,917, from €65,324 to -€23,593
- Financial charges -€5,587
down €5,587 (-1.8%), from €314,792 to €309,205
- Depreciation -€2,069
down €2,069 (-2.9%), from €70,942 to €68,873
- Other operating charges -€1,390
down €1,390 (-76.1%), from €1,827 to €437
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,922,061 | €16,231,731 | +€309,670 | +1.9% |
| Fixed assets | 21/28 | €4,322,273 | €4,473,023 | +€150,751 | +3.5% |
| Intangible fixed assets | 21 | €559,052 | €508,229 | -€50,823 | -9.1% |
| Tangible fixed assets | 22/27 | €175,145 | €98,557 | -€76,588 | -43.7% |
| Furniture and vehicles | 24 | €175,145 | €98,557 | -€76,588 | -43.7% |
| Financial fixed assets | 28 | €3,588,076 | €3,866,237 | +€278,162 | +7.8% |
| Current assets | 29/58 | €11,599,788 | €11,758,708 | +€158,920 | +1.4% |
| Amounts receivable after more than one year | 29 | €212,767 | €228,021 | +€15,254 | +7.2% |
| Other amounts receivable | 291 | €212,767 | €228,021 | +€15,254 | +7.2% |
| Amounts receivable within one year | 40/41 | €6,435,642 | €6,921,930 | +€486,287 | +7.6% |
| Trade receivables | 40 | €180,858 | €188,583 | +€7,724 | +4.3% |
| Other amounts receivable | 41 | €6,254,784 | €6,733,347 | +€478,563 | +7.7% |
| Current investments | 50/53 | €3,877,852 | €4,008,997 | +€131,146 | +3.4% |
| Cash at bank and in hand | 54/58 | €1,069,854 | €599,156 | -€470,699 | -44.0% |
| Deferred charges and accrued income | 490/1 | €3,673 | €604 | -€3,068 | -83.5% |
| Total equity and liabilities | 10/49 | €15,922,061 | €16,231,731 | +€309,670 | +1.9% |
| Equity | 10/15 | €12,643,302 | €12,692,617 | +€49,315 | +0.4% |
| Contributions | 10/11 | €11,352,527 | €11,352,527 | = | 0.0% |
| Reserves | 13 | €769,935 | €769,935 | = | 0.0% |
| Non-distributable reserves | 130/1 | €769,935 | €769,935 | = | 0.0% |
| Reserves not available under the articles | 1311 | €769,935 | €769,935 | = | 0.0% |
| Profit (loss) carried forward | 14 | €520,840 | €570,155 | +€49,315 | +9.5% |
| Amounts payable | 17/49 | €3,278,759 | €3,539,114 | +€260,356 | +7.9% |
| Amounts payable within one year | 42/48 | €3,278,759 | €3,528,099 | +€249,340 | +7.6% |
| Trade debts | 44 | €280,808 | €171,996 | -€108,812 | -38.7% |
| Suppliers | 440/4 | €280,808 | €171,996 | -€108,812 | -38.7% |
| Taxes, remuneration and social security | 45 | €212,743 | €220,570 | +€7,827 | +3.7% |
| Taxes | 450/3 | €1,389 | €9,216 | +€7,827 | +563% |
| Remuneration and social security | 454/9 | €211,354 | €211,354 | = | 0.0% |
| Other amounts payable | 47/48 | €2,785,207 | €3,135,533 | +€350,325 | +12.6% |
| Accrued charges and deferred income | 492/3 | - | €11,015 | +€11,015 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,942 | €68,873 | -€2,069 | -2.9% |
| Other operating charges | 640/8 | €1,827 | €437 | -€1,390 | -76.1% |
| Non-recurring operating charges | 66A | €99,623 | €14,638 | -€84,985 | -85.3% |
| Gross operating margin | 9900 | €65,324 | -€23,593 | -€88,917 | |
| Operating profit (loss) | 9901 | -€107,068 | -€107,542 | -€474 | -0.4% |
| Financial income | 75/76B | €636,874 | €466,439 | -€170,435 | -26.8% |
| Recurring financial income | 75 | €636,874 | €466,439 | -€170,435 | -26.8% |
| Financial charges | 65/66B | €314,792 | €309,205 | -€5,587 | -1.8% |
| Recurring financial charges | 65 | €314,792 | €309,205 | -€5,587 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €215,014 | €49,693 | -€165,321 | -76.9% |
| Income taxes | 67/77 | €1,339 | €378 | -€961 | -71.8% |
| Profit (loss) for the period | 9904 | €213,675 | €49,315 | -€164,360 | -76.9% |
| Profit (loss) for the period to be appropriated | 9905 | €213,675 | €49,315 | -€164,360 | -76.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.