BALVIN: 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
BALVIN
NACE 11.020, Manufacture of beverages
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€59,502
2024 · €17,682+€41,820
Equity
€283,678
2024 · €224,175+€59,502
Cash
€39,191
2024 · €39,607-€416
Balance sheet total
€1.4m
2024 · €1.3m+€148,169
Largest movements
Assets
- Stocks and contracts +€189,283
up €189,283 (+22.5%), from €840,620 to €1.0m
- Receivables within one year -€55,388
down €55,388 (-17.5%), from €315,813 to €260,425
of which Trade receivables: -€52,287
- Deferred charges and accrued income +€16,387
up €16,387 (+257%), from €6,369 to €22,756
Equity and liabilities
- Trade debts +€74,633
up €74,633 (+19.7%), from €379,018 to €453,651
- Profit (loss) carried forward +€59,502
up €59,502 (+86.0%), from €69,175 to €128,678
- Accrued charges and deferred income +€24,624
up €24,624 (+96.9%), from €25,401 to €50,025
Income statement
- Gross operating margin +€62,158
up €62,158 (+20.6%), from €301,203 to €363,362
- Taxes +€16,138
up €16,138 (+283%), from €5,696 to €21,834
- Staff costs +€4,598
up €4,598 (+2.1%), from €221,972 to €226,569
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
€17,682
Gross operating margin
+€62,158
Staff costs
-€4,598
Depreciation
+€1,734
Other operating charges
+€561
Other operating items
-€1,953
Financial income
-€2,429
Financial charges
+€2,483
Taxes
-€16,138
Result 2025
€59,502
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
+€27,985
Investment
-€21,256
Financing
-€7,145
Cash 2024
€39,607
From operations (derived)
+€27,985
Net result for the year
+€59,502
Depreciation
+€22,954
Stocks and contracts
-€189,283
Receivables within one year
+€55,388
Deferred charges and accrued income
-€16,387
Trade debts
+€74,633
Tax, wage and social debts
-€3,688
Other debts
+€242
Accrued charges and deferred income
+€24,624
Investment (derived)
-€21,256
Investment in fixed assets (net)
-€21,256
Financing
-€7,145
Debts after one year
-€7,519
Current portion of long-term debt
+€374
Cash 2025
€39,191
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,274,704 | €1,422,872 | +€148,169 | +11.6% |
| Fixed assets | 21/28 | €72,295 | €70,598 | -€1,697 | -2.3% |
| Intangible fixed assets | 21 | €18,825 | €9,770 | -€9,055 | -48.1% |
| Tangible fixed assets | 22/27 | €53,470 | €60,828 | +€7,358 | +13.8% |
| Land and buildings | 22 | €40,258 | €37,789 | -€2,468 | -6.1% |
| Plant, machinery and equipment | 23 | €10,922 | €20,220 | +€9,299 | +85.1% |
| Furniture and vehicles | 24 | €2,291 | €2,818 | +€527 | +23.0% |
| Current assets | 29/58 | €1,202,409 | €1,352,275 | +€149,866 | +12.5% |
| Stocks and contracts in progress | 3 | €840,620 | €1,029,903 | +€189,283 | +22.5% |
| Stocks | 30/36 | €840,620 | €1,029,903 | +€189,283 | +22.5% |
| Amounts receivable within one year | 40/41 | €315,813 | €260,425 | -€55,388 | -17.5% |
| Trade receivables | 40 | €311,340 | €259,053 | -€52,287 | -16.8% |
| Other amounts receivable | 41 | €4,472 | €1,371 | -€3,101 | -69.3% |
| Cash at bank and in hand | 54/58 | €39,607 | €39,191 | -€416 | -1.1% |
| Deferred charges and accrued income | 490/1 | €6,369 | €22,756 | +€16,387 | +257% |
| Total equity and liabilities | 10/49 | €1,274,704 | €1,422,872 | +€148,169 | +11.6% |
| Equity | 10/15 | €224,175 | €283,678 | +€59,502 | +26.5% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €69,175 | €128,678 | +€59,502 | +86.0% |
| Amounts payable | 17/49 | €1,050,529 | €1,139,195 | +€88,666 | +8.4% |
| Amounts payable after more than one year | 17 | €29,549 | €22,030 | -€7,519 | -25.4% |
| Financial debts | 170/4 | €29,549 | €22,030 | -€7,519 | -25.4% |
| Amounts payable within one year | 42/48 | €995,579 | €1,067,140 | +€71,561 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €7,145 | €7,519 | +€374 | +5.2% |
| Financial debts | 43 | €325,000 | €325,000 | = | 0.0% |
| Credit institutions | 430/8 | €325,000 | €325,000 | = | 0.0% |
| Trade debts | 44 | €379,018 | €453,651 | +€74,633 | +19.7% |
| Suppliers | 440/4 | €379,018 | €453,651 | +€74,633 | +19.7% |
| Taxes, remuneration and social security | 45 | €54,901 | €51,213 | -€3,688 | -6.7% |
| Taxes | 450/3 | €38,175 | €43,713 | +€5,538 | +14.5% |
| Remuneration and social security | 454/9 | €16,726 | €7,500 | -€9,226 | -55.2% |
| Other amounts payable | 47/48 | €229,515 | €229,756 | +€242 | +0.1% |
| Accrued charges and deferred income | 492/3 | €25,401 | €50,025 | +€24,624 | +96.9% |
| Non-recurring operating income | 76A | €5,390 | - | -€5,390 | |
| Remuneration, social security and pensions | 62 | €221,972 | €226,569 | +€4,598 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,688 | €22,954 | -€1,734 | -7.0% |
| Other operating charges | 640/8 | €3,920 | €3,359 | -€561 | -14.3% |
| Non-recurring operating charges | 66A | - | €1,953 | +€1,953 | |
| Gross operating margin | 9900 | €301,203 | €363,362 | +€62,158 | +20.6% |
| Operating profit (loss) | 9901 | €50,624 | €108,527 | +€57,904 | +114% |
| Financial income | 75/76B | €2,660 | €231 | -€2,429 | -91.3% |
| Recurring financial income | 75 | €2,660 | €231 | -€2,429 | -91.3% |
| Financial charges | 65/66B | €29,906 | €27,422 | -€2,483 | -8.3% |
| Recurring financial charges | 65 | €29,906 | €27,422 | -€2,483 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €23,378 | €81,336 | +€57,958 | +248% |
| Income taxes | 67/77 | €5,696 | €21,834 | +€16,138 | +283% |
| Profit (loss) for the period | 9904 | €17,682 | €59,502 | +€41,820 | +237% |
| Profit (loss) for the period to be appropriated | 9905 | €17,682 | €59,502 | +€41,820 | +237% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.