BALBEVA: 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.
BALBEVA
Largest movements
- Stocks and contracts +€1.6m
up €1.6m (+87.1%), from €1.9m to €3.5m
- Tangible fixed assets +€247,923
up €247,923 (+194.3%), from €127,575 to €375,498
of which Plant, machinery and equipment: +€234,428
- Receivables within one year +€117,030
up €117,030 (+83.9%), from €139,441 to €256,471
of which Other amounts receivable: +€156,196
- Debts after one year +€2.0m
up €2.0m (+95.1%), from €2.1m to €4.0m
- Other debts +€70,439
up €70,439 (+316578.2%), from €22 to €70,461
- Purchases and services -€1.8m
no longer reported in 2025 (was €1.8m)
- Gross operating margin +€171,930
up €171,930 (+321.4%), from €53,502 to €225,432
- Financial charges +€115,432
up €115,432 (+263.2%), from €43,856 to €159,288
- Depreciation +€38,048
up €38,048 (+410.5%), from €9,270 to €47,318
- Staff costs +€14,780
new in 2025: €14,780
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 | €2,161,287 | €4,195,413 | +€2.0m | +94.1% |
| Fixed assets | 21/28 | €127,575 | €384,498 | +€256,923 | +201.4% |
| Tangible fixed assets | 22/27 | €127,575 | €375,498 | +€247,923 | +194.3% |
| Plant, machinery and equipment | 23 | €121,465 | €355,894 | +€234,428 | +193.0% |
| Furniture and vehicles | 24 | €6,109 | €19,604 | +€13,495 | +220.9% |
| Financial fixed assets | 28 | - | €9,000 | +€9,000 | |
| Current assets | 29/58 | €2,033,713 | €3,810,916 | +€1.8m | +87.4% |
| Stocks and contracts in progress | 3 | €1,881,977 | €3,520,679 | +€1.6m | +87.1% |
| Stocks | 30/36 | €1,881,977 | €3,520,679 | +€1.6m | +87.1% |
| Amounts receivable within one year | 40/41 | €139,441 | €256,471 | +€117,030 | +83.9% |
| Trade receivables | 40 | €39,166 | - | -€39,166 | |
| Other amounts receivable | 41 | €100,275 | €256,471 | +€156,196 | +155.8% |
| Cash at bank and in hand | 54/58 | €6,036 | €27,278 | +€21,241 | +351.9% |
| Deferred charges and accrued income | 490/1 | €6,259 | €6,488 | +€229 | +3.7% |
| Total equity and liabilities | 10/49 | €2,161,287 | €4,195,413 | +€2.0m | +94.1% |
| Equity | 10/15 | €10,948 | €15,463 | +€4,515 | +41.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €948 | €5,463 | +€4,515 | +476.2% |
| Amounts payable | 17/49 | €2,150,339 | €4,179,950 | +€2.0m | +94.4% |
| Amounts payable after more than one year | 17 | €2,075,908 | €4,049,454 | +€2.0m | +95.1% |
| Financial debts | 170/4 | €2,075,908 | €4,049,454 | +€2.0m | +95.1% |
| Amounts payable within one year | 42/48 | €61,259 | €127,895 | +€66,636 | +108.8% |
| Trade debts | 44 | €61,237 | €47,202 | -€14,035 | -22.9% |
| Suppliers | 440/4 | €61,237 | €47,202 | -€14,035 | -22.9% |
| Taxes, remuneration and social security | 45 | - | €10,233 | +€10,233 | |
| Taxes | 450/3 | - | €10,233 | +€10,233 | |
| Other amounts payable | 47/48 | €22 | €70,461 | +€70,439 | +316578.2% |
| Accrued charges and deferred income | 492/3 | €13,172 | €2,601 | -€10,571 | -80.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,789,398 | - | -€1.8m | |
| Remuneration, social security and pensions | 62 | - | €14,780 | +€14,780 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,270 | €47,318 | +€38,048 | +410.5% |
| Other operating charges | 640/8 | €387 | €840 | +€453 | +116.8% |
| Gross operating margin | 9900 | €53,502 | €225,432 | +€171,930 | +321.4% |
| Operating profit (loss) | 9901 | €43,845 | €162,494 | +€118,650 | +270.6% |
| Financial income | 75/76B | €959 | €1,308 | +€349 | +36.4% |
| Recurring financial income | 75 | €959 | €1,308 | +€349 | +36.4% |
| Financial charges | 65/66B | €43,856 | €159,288 | +€115,432 | +263.2% |
| Recurring financial charges | 65 | €43,856 | €159,288 | +€115,432 | +263.2% |
| Profit (loss) for the period before taxes | 9903 | €948 | €4,515 | +€3,567 | +376.2% |
| Profit (loss) for the period | 9904 | €948 | €4,515 | +€3,567 | +376.2% |
| Profit (loss) for the period to be appropriated | 9905 | €948 | €4,515 | +€3,567 | +376.2% |
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 7 October 2026 via checked.be.