BACOVAN: 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.
BACOVAN
Largest movements
- Cash +€20,482
up €20,482 (+37.3%), from €54,877 to €75,360
mainly Net result for the year (+€20,696) and Depreciation (+€17,664)
- Tangible fixed assets -€17,664
down €17,664 (-11.0%), from €160,549 to €142,885
- Debts after one year -€25,941
down €25,941 (-47.2%), from €54,973 to €29,032
- Reserves +€20,000
up €20,000 (+17.9%), from €111,860 to €131,860
of which Distributable reserves: +€20,000
- Tax, wage and social debts +€6,818
up €6,818 (+198.0%), from €3,444 to €10,262
- Turnover +€3,027
up €3,027 (+5.6%), from €54,352 to €57,379
- Gross operating margin +€3,009
up €3,009 (+6.0%), from €49,906 to €52,915
- Taxes +€1,818
up €1,818 (+21.5%), from €8,444 to €10,262
- Financial charges -€778
down €778 (-25.2%), from €3,095 to €2,316
- Depreciation -€654
down €654 (-3.6%), from €18,319 to €17,664
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 | €221,254 | €224,554 | +€3,300 | +1.5% |
| Fixed assets | 21/28 | €160,549 | €142,885 | -€17,664 | -11.0% |
| Tangible fixed assets | 22/27 | €160,549 | €142,885 | -€17,664 | -11.0% |
| Land and buildings | 22 | €160,549 | €142,885 | -€17,664 | -11.0% |
| Current assets | 29/58 | €60,705 | €81,669 | +€20,964 | +34.5% |
| Amounts receivable within one year | 40/41 | €4,402 | €4,872 | +€470 | +10.7% |
| Trade receivables | 40 | €3,500 | €3,649 | +€149 | +4.3% |
| Other amounts receivable | 41 | €902 | €1,223 | +€321 | +35.5% |
| Cash at bank and in hand | 54/58 | €54,877 | €75,360 | +€20,482 | +37.3% |
| Deferred charges and accrued income | 490/1 | €1,425 | €1,437 | +€12 | +0.8% |
| Total equity and liabilities | 10/49 | €221,254 | €224,554 | +€3,300 | +1.5% |
| Equity | 10/15 | €137,688 | €158,384 | +€20,696 | +15.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €111,860 | €131,860 | +€20,000 | +17.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €110,000 | €130,000 | +€20,000 | +18.2% |
| Profit (loss) carried forward | 14 | €7,228 | €7,924 | +€696 | +9.6% |
| Amounts payable | 17/49 | €83,567 | €66,170 | -€17,397 | -20.8% |
| Amounts payable after more than one year | 17 | €54,973 | €29,032 | -€25,941 | -47.2% |
| Financial debts | 170/4 | €54,973 | €29,032 | -€25,941 | -47.2% |
| Amounts payable within one year | 42/48 | €28,594 | €36,203 | +€7,610 | +26.6% |
| Current portion of amounts payable after more than one year | 42 | €25,149 | €25,941 | +€792 | +3.1% |
| Taxes, remuneration and social security | 45 | €3,444 | €10,262 | +€6,818 | +198.0% |
| Taxes | 450/3 | €3,444 | €10,262 | +€6,818 | +198.0% |
| Accrued charges and deferred income | 492/3 | - | €935 | +€935 | |
| Turnover | 70 | €54,352 | €57,379 | +€3,027 | +5.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €4,446 | €4,464 | +€18 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,319 | €17,664 | -€654 | -3.6% |
| Other operating charges | 640/8 | €1,916 | €1,976 | +€60 | +3.1% |
| Gross operating margin | 9900 | €49,906 | €52,915 | +€3,009 | +6.0% |
| Operating profit (loss) | 9901 | €29,672 | €33,275 | +€3,603 | +12.1% |
| Financial charges | 65/66B | €3,095 | €2,316 | -€778 | -25.2% |
| Recurring financial charges | 65 | €3,095 | €2,316 | -€778 | -25.2% |
| Profit (loss) for the period before taxes | 9903 | €26,577 | €30,959 | +€4,382 | +16.5% |
| Income taxes | 67/77 | €8,444 | €10,262 | +€1,818 | +21.5% |
| Profit (loss) for the period | 9904 | €18,133 | €20,696 | +€2,564 | +14.1% |
| Profit (loss) for the period to be appropriated | 9905 | €18,133 | €20,696 | +€2,564 | +14.1% |
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 9 October 2026 via checked.be.