BALVINOX: 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.
BALVINOX
Largest movements
- Cash +€99,810
up €99,810 (+127%), from €78,515 to €178,325
mainly Other debts (+€501,618) and Net result for the year (+€471,856)
- Receivables within one year +€51,660
up €51,660 (+12.9%), from €400,694 to €452,354
- Tangible fixed assets -€24,963
down €24,963 (-12.3%), from €202,558 to €177,594
of which Land and buildings: -€30,030
- Other debts +€501,618
new in 2025: €501,618
- Accrued charges and deferred income -€451,013
down €451,013 (-100.0%), from €451,034 to €21
- Tax, wage and social debts +€64,822
up €64,822 (+73.5%), from €88,211 to €153,033
- Profit (loss) carried forward +€60,000
up €60,000 (+10.8%), from €554,030 to €614,030
- Debts after one year -€37,500
no longer reported in 2025 (was €37,500)
- Gross operating margin +€206,884
up €206,884 (+39.7%), from €520,641 to €727,525
- Taxes +€50,493
up €50,493 (+49.7%), from €101,603 to €152,097
- Staff costs +€14,679
up €14,679 (+33.7%), from €43,532 to €58,211
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,364,260 | €1,488,003 | +€123,743 | +9.1% |
| Fixed assets | 21/28 | €202,558 | €177,594 | -€24,963 | -12.3% |
| Tangible fixed assets | 22/27 | €202,558 | €177,594 | -€24,963 | -12.3% |
| Land and buildings | 22 | €197,425 | €167,395 | -€30,030 | -15.2% |
| Plant, machinery and equipment | 23 | €2,330 | €3,318 | +€988 | +42.4% |
| Furniture and vehicles | 24 | €2,803 | €6,881 | +€4,079 | +146% |
| Current assets | 29/58 | €1,161,702 | €1,310,409 | +€148,707 | +12.8% |
| Stocks and contracts in progress | 3 | €682,493 | €679,730 | -€2,763 | -0.4% |
| Stocks | 30/36 | €682,493 | €679,730 | -€2,763 | -0.4% |
| Amounts receivable within one year | 40/41 | €400,694 | €452,354 | +€51,660 | +12.9% |
| Trade receivables | 40 | €400,694 | €452,354 | +€51,660 | +12.9% |
| Cash at bank and in hand | 54/58 | €78,515 | €178,325 | +€99,810 | +127% |
| Total equity and liabilities | 10/49 | €1,364,260 | €1,488,003 | +€123,743 | +9.1% |
| Equity | 10/15 | €609,086 | €669,086 | +€60,000 | +9.9% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €30,056 | €30,056 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €27,556 | €27,556 | = | 0.0% |
| Profit (loss) carried forward | 14 | €554,030 | €614,030 | +€60,000 | +10.8% |
| Amounts payable | 17/49 | €755,174 | €818,917 | +€63,743 | +8.4% |
| Amounts payable after more than one year | 17 | €37,500 | - | -€37,500 | |
| Financial debts | 170/4 | €37,500 | - | -€37,500 | |
| Amounts payable within one year | 42/48 | €266,640 | €818,896 | +€552,256 | +207% |
| Current portion of amounts payable after more than one year | 42 | €71,274 | €62,714 | -€8,560 | -12.0% |
| Trade debts | 44 | €107,154 | €101,531 | -€5,623 | -5.2% |
| Suppliers | 440/4 | €107,154 | €101,531 | -€5,623 | -5.2% |
| Taxes, remuneration and social security | 45 | €88,211 | €153,033 | +€64,822 | +73.5% |
| Taxes | 450/3 | €88,211 | €153,033 | +€64,822 | +73.5% |
| Other amounts payable | 47/48 | - | €501,618 | +€501,618 | |
| Accrued charges and deferred income | 492/3 | €451,034 | €21 | -€451,013 | -100.0% |
| Remuneration, social security and pensions | 62 | €43,532 | €58,211 | +€14,679 | +33.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,320 | €34,194 | +€874 | +2.6% |
| Other operating charges | 640/8 | €7,434 | €6,796 | -€639 | -8.6% |
| Gross operating margin | 9900 | €520,641 | €727,525 | +€206,884 | +39.7% |
| Operating profit (loss) | 9901 | €436,355 | €628,325 | +€191,970 | +44.0% |
| Financial income | 75/76B | €6,873 | €7,165 | +€292 | +4.3% |
| Recurring financial income | 75 | €6,873 | €7,165 | +€292 | +4.3% |
| Financial charges | 65/66B | €17,441 | €11,537 | -€5,904 | -33.8% |
| Recurring financial charges | 65 | €17,441 | €11,104 | -€6,337 | -36.3% |
| Non-recurring financial charges | 66B | - | €433 | +€433 | |
| Profit (loss) for the period before taxes | 9903 | €425,787 | €623,953 | +€198,166 | +46.5% |
| Income taxes | 67/77 | €101,603 | €152,097 | +€50,493 | +49.7% |
| Profit (loss) for the period | 9904 | €324,184 | €471,856 | +€147,672 | +45.6% |
| Profit (loss) for the period to be appropriated | 9905 | €324,184 | €471,856 | +€147,672 | +45.6% |
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 23 October 2026 via checked.be.