BALVAN: 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.
BALVAN
Largest movements
- Cash +€19,128
up €19,128 (+125.8%), from €15,207 to €34,335
mainly Depreciation (+€37,479) and Net result for the year (+€19,656)
- Tangible fixed assets +€17,631
up €17,631 (+2.2%), from €786,016 to €803,647
of which Furniture and vehicles: +€45,979
- Reserves +€19,656
up €19,656 (+7.3%), from €269,491 to €289,146
of which Distributable reserves: +€23,946
- Accrued charges and deferred income +€15,266
up €15,266 (+508.9%), from €3,000 to €18,266
- Debts after one year +€11,108
up €11,108 (+4.6%), from €242,882 to €253,990
- Other debts -€10,543
down €10,543 (-4.6%), from €228,323 to €217,780
- Depreciation -€4,711
down €4,711 (-11.2%), from €42,189 to €37,479
- Gross operating margin -€3,788
down €3,788 (-3.9%), from €97,540 to €93,752
- Taxes +€2,317
up €2,317 (+22.9%), from €10,123 to €12,440
- Other operating charges -€1,522
down €1,522 (-26.2%), from €5,811 to €4,289
- Financial charges -€1,459
down €1,459 (-6.4%), from €22,814 to €21,355
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 | €824,872 | €867,328 | +€42,455 | +5.1% |
| Fixed assets | 21/28 | €786,076 | €803,707 | +€17,631 | +2.2% |
| Tangible fixed assets | 22/27 | €786,016 | €803,647 | +€17,631 | +2.2% |
| Land and buildings | 22 | €765,928 | €738,861 | -€27,067 | -3.5% |
| Plant, machinery and equipment | 23 | €1,847 | €567 | -€1,281 | -69.3% |
| Furniture and vehicles | 24 | €18,241 | €64,220 | +€45,979 | +252.1% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €38,796 | €63,621 | +€24,825 | +64.0% |
| Amounts receivable after more than one year | 29 | €5,000 | €12,000 | +€7,000 | +140.0% |
| Other amounts receivable | 291 | €5,000 | €12,000 | +€7,000 | +140.0% |
| Amounts receivable within one year | 40/41 | €17,726 | €17,286 | -€440 | -2.5% |
| Trade receivables | 40 | €17,726 | €17,286 | -€440 | -2.5% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €15,207 | €34,335 | +€19,128 | +125.8% |
| Deferred charges and accrued income | 490/1 | €863 | €0 | -€863 | -100.0% |
| Total equity and liabilities | 10/49 | €824,872 | €867,328 | +€42,455 | +5.1% |
| Equity | 10/15 | €275,691 | €295,346 | +€19,656 | +7.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €269,491 | €289,146 | +€19,656 | +7.3% |
| Tax-exempt reserves | 132 | €60,072 | €55,782 | -€4,291 | -7.1% |
| Distributable reserves | 133 | €209,418 | €233,365 | +€23,946 | +11.4% |
| Provisions and deferred taxes | 16 | €20,024 | €18,594 | -€1,430 | -7.1% |
| Deferred taxes | 168 | €20,024 | €18,594 | -€1,430 | -7.1% |
| Amounts payable | 17/49 | €529,157 | €553,387 | +€24,230 | +4.6% |
| Amounts payable after more than one year | 17 | €242,882 | €253,990 | +€11,108 | +4.6% |
| Financial debts | 170/4 | €242,882 | €253,990 | +€11,108 | +4.6% |
| Amounts payable within one year | 42/48 | €283,275 | €281,131 | -€2,144 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €42,545 | €49,840 | +€7,295 | +17.1% |
| Trade debts | 44 | €6,313 | €2,339 | -€3,973 | -62.9% |
| Suppliers | 440/4 | €6,313 | €2,339 | -€3,973 | -62.9% |
| Taxes, remuneration and social security | 45 | €6,094 | €11,172 | +€5,078 | +83.3% |
| Taxes | 450/3 | €6,094 | €11,172 | +€5,078 | +83.3% |
| Other amounts payable | 47/48 | €228,323 | €217,780 | -€10,543 | -4.6% |
| Accrued charges and deferred income | 492/3 | €3,000 | €18,266 | +€15,266 | +508.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,189 | €37,479 | -€4,711 | -11.2% |
| Other operating charges | 640/8 | €5,811 | €4,289 | -€1,522 | -26.2% |
| Gross operating margin | 9900 | €97,540 | €93,752 | -€3,788 | -3.9% |
| Operating profit (loss) | 9901 | €49,540 | €51,985 | +€2,445 | +4.9% |
| Financial income | 75/76B | €0 | €36 | +€36 | |
| Recurring financial income | 75 | €0 | €36 | +€36 | |
| Financial charges | 65/66B | €22,814 | €21,355 | -€1,459 | -6.4% |
| Recurring financial charges | 65 | €22,814 | €21,355 | -€1,459 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €26,726 | €30,666 | +€3,940 | +14.7% |
| Transfer from deferred taxes | 780 | €1,430 | €1,430 | = | 0.0% |
| Income taxes | 67/77 | €10,123 | €12,440 | +€2,317 | +22.9% |
| Profit (loss) for the period | 9904 | €18,033 | €19,656 | +€1,622 | +9.0% |
| Transfer from tax-exempt reserves | 789 | €4,291 | €4,291 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,324 | €23,946 | +€1,622 | +7.3% |
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 30 September 2026 via checked.be.