BALVIAN: 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.
What changed
BALVIAN
NACE 46.231, Wholesale of live animals
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€278,198
2024 · €192,271+€85,927
Equity
€1.1m
2024 · €830,487+€278,198
Cash
€204,758
2024 · €13,217+€191,541
Balance sheet total
€2.1m
2024 · €2.0m+€88,764
Largest movements
Assets
- Cash +€191,541
up €191,541 (+1,449%), from €13,217 to €204,758
mainly Net result for the year (+€278,198) and Receivables within one year (+€99,654)
- Receivables within one year -€99,654
down €99,654 (-7.1%), from €1.4m to €1.3m
of which Trade receivables: -€96,366
Equity and liabilities
- Profit (loss) carried forward +€281,948
up €281,948 (+95,937%), from €294 to €282,242
- Trade debts -€162,120
down €162,120 (-34.8%), from €465,238 to €303,118
- Tax, wage and social debts -€34,267
down €34,267 (-40.9%), from €83,808 to €49,542
of which Taxes: -€37,267
- Current portion of long-term debt +€31,208
up €31,208 (+7.6%), from €409,090 to €440,297
- Debts after one year -€21,533
down €21,533 (-11.0%), from €195,689 to €174,156
Income statement
- Gross operating margin +€96,060
up €96,060 (+25.9%), from €370,398 to €466,458
- Depreciation +€8,751
up €8,751 (+16.4%), from €53,468 to €62,219
- Taxes +€5,919
up €5,919 (+7.1%), from €83,461 to €89,379
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.
Result 2024
€192,271
Gross operating margin
+€96,060
Staff costs
-€2,417
Depreciation
-€8,751
Other operating charges
+€1,836
Other operating items
-€436
Financial income
+€1,285
Financial charges
+€4,269
Taxes
-€5,919
Result 2025
€278,198
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
+€239,479
Investment
-€57,613
Financing
+€9,675
Cash 2024
€13,217
From operations (derived)
+€239,479
Net result for the year
+€278,198
Depreciation
+€62,219
Receivables within one year
+€99,654
Deferred charges and accrued income
-€1,483
Provisions
-€1,250
Trade debts
-€162,120
Tax, wage and social debts
-€34,267
Other debts
-€1,541
Accrued charges and deferred income
+€68
Investment (derived)
-€57,613
Investment in fixed assets (net)
-€57,613
Financing
+€9,675
Debts after one year
-€21,533
Current portion of long-term debt
+€31,208
Cash 2025
€204,758
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,003,005 | €2,091,769 | +€88,764 | +4.4% |
| Fixed assets | 21/28 | €566,542 | €561,935 | -€4,606 | -0.8% |
| Tangible fixed assets | 22/27 | €327,542 | €322,935 | -€4,606 | -1.4% |
| Land and buildings | 22 | €86,489 | €84,000 | -€2,489 | -2.9% |
| Plant, machinery and equipment | 23 | €14,274 | €22,348 | +€8,074 | +56.6% |
| Furniture and vehicles | 24 | €135,337 | €146,546 | +€11,209 | +8.3% |
| Leasing and similar rights | 25 | €91,441 | €70,041 | -€21,400 | -23.4% |
| Financial fixed assets | 28 | €239,000 | €239,000 | = | 0.0% |
| Current assets | 29/58 | €1,436,464 | €1,529,834 | +€93,370 | +6.5% |
| Amounts receivable within one year | 40/41 | €1,412,942 | €1,313,288 | -€99,654 | -7.1% |
| Trade receivables | 40 | €1,391,099 | €1,294,733 | -€96,366 | -6.9% |
| Other amounts receivable | 41 | €21,843 | €18,556 | -€3,287 | -15.1% |
| Cash at bank and in hand | 54/58 | €13,217 | €204,758 | +€191,541 | +1,449% |
| Deferred charges and accrued income | 490/1 | €10,305 | €11,787 | +€1,483 | +14.4% |
| Total equity and liabilities | 10/49 | €2,003,005 | €2,091,769 | +€88,764 | +4.4% |
| Equity | 10/15 | €830,487 | €1,108,685 | +€278,198 | +33.5% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €755,825 | €752,075 | -€3,750 | -0.5% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,437 | €7,437 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,175 | €16,425 | -€3,750 | -18.6% |
| Distributable reserves | 133 | €728,213 | €728,213 | = | 0.0% |
| Profit (loss) carried forward | 14 | €294 | €282,242 | +€281,948 | +95,937% |
| Provisions and deferred taxes | 16 | €4,930 | €3,680 | -€1,250 | -25.4% |
| Deferred taxes | 168 | €4,930 | €3,680 | -€1,250 | -25.4% |
| Amounts payable | 17/49 | €1,167,588 | €979,404 | -€188,184 | -16.1% |
| Amounts payable after more than one year | 17 | €195,689 | €174,156 | -€21,533 | -11.0% |
| Financial debts | 170/4 | €195,689 | €174,156 | -€21,533 | -11.0% |
| Amounts payable within one year | 42/48 | €971,899 | €805,180 | -€166,719 | -17.2% |
| Current portion of amounts payable after more than one year | 42 | €409,090 | €440,297 | +€31,208 | +7.6% |
| Trade debts | 44 | €465,238 | €303,118 | -€162,120 | -34.8% |
| Suppliers | 440/4 | €465,238 | €303,118 | -€162,120 | -34.8% |
| Taxes, remuneration and social security | 45 | €83,808 | €49,542 | -€34,267 | -40.9% |
| Taxes | 450/3 | €83,808 | €46,542 | -€37,267 | -44.5% |
| Remuneration and social security | 454/9 | - | €3,000 | +€3,000 | |
| Other amounts payable | 47/48 | €13,763 | €12,222 | -€1,541 | -11.2% |
| Accrued charges and deferred income | 492/3 | - | €68 | +€68 | |
| Non-recurring operating income | 76A | €3,000 | €4,500 | +€1,500 | +50.0% |
| Remuneration, social security and pensions | 62 | -€224 | €2,193 | +€2,417 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,468 | €62,219 | +€8,751 | +16.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €5,118 | €3,282 | -€1,836 | -35.9% |
| Non-recurring operating charges | 66A | - | €436 | +€436 | |
| Gross operating margin | 9900 | €370,398 | €466,458 | +€96,060 | +25.9% |
| Operating profit (loss) | 9901 | €312,036 | €398,328 | +€86,292 | +27.7% |
| Financial income | 75/76B | €40 | €1,325 | +€1,285 | +3,189% |
| Recurring financial income | 75 | €40 | €1,325 | +€1,285 | +3,189% |
| Financial charges | 65/66B | €37,594 | €33,325 | -€4,269 | -11.4% |
| Recurring financial charges | 65 | €37,594 | €33,325 | -€4,269 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | €274,482 | €366,327 | +€91,845 | +33.5% |
| Transfer from deferred taxes | 780 | €1,250 | €1,250 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €83,461 | €89,379 | +€5,919 | +7.1% |
| Profit (loss) for the period | 9904 | €192,271 | €278,198 | +€85,927 | +44.7% |
| Transfer from tax-exempt reserves | 789 | €3,750 | €3,750 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €196,021 | €281,948 | +€85,927 | +43.8% |
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 31 October 2026 via checked.be.