BARVO: 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.
BARVO
Largest movements
- Receivables after one year -€341,600
down €341,600 (-100%), from €341,600 to €0
- Cash -€233,434
down €233,434 (-81.3%), from €287,295 to €53,861
mainly Contributions, distributions and other (-€450,000) and Trade debts (-€438,312)
- Receivables within one year +€104,285
up €104,285 (+10.6%), from €983,290 to €1.1m
of which Other amounts receivable: +€299,013
- Deferred charges and accrued income -€72,978
down €72,978 (-99.9%), from €73,079 to €101
- Tangible fixed assets -€67,905
down €67,905 (-7.7%), from €882,690 to €814,786
of which Plant, machinery and equipment: -€74,312
- Trade debts -€438,312
down €438,312 (-30.0%), from €1.5m to €1.0m
of which Suppliers: -€438,562
- Accrued charges and deferred income -€198,062
down €198,062 (-99.0%), from €200,000 to €1,938
- Debts after one year +€110,198
up €110,198 (+21.4%), from €515,652 to €625,849
- Profit (loss) carried forward -€46,758
down €46,758 (-28.8%), from €162,384 to €115,625
- Other debts -€40,903
down €40,903 (-100%), from €40,903 to €0
- Turnover +€550,524
up €550,524 (+5.4%), from €10.2m to €10.8m
- Purchases and services +€514,538
up €514,538 (+5.6%), from €9.3m to €9.8m
- Gross operating margin +€210,666
up €210,666 (+15.6%), from €1.3m to €1.6m
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 | €3,110,364 | €2,521,603 | -€588,760 | -18.9% |
| Fixed assets | 21/28 | €882,690 | €814,786 | -€67,905 | -7.7% |
| Tangible fixed assets | 22/27 | €882,690 | €814,786 | -€67,905 | -7.7% |
| Plant, machinery and equipment | 23 | €848,377 | €774,066 | -€74,312 | -8.8% |
| Furniture and vehicles | 24 | €34,313 | €40,720 | +€6,407 | +18.7% |
| Current assets | 29/58 | €2,227,673 | €1,706,818 | -€520,856 | -23.4% |
| Amounts receivable after more than one year | 29 | €341,600 | €0 | -€341,600 | -100% |
| Other amounts receivable | 291 | €341,600 | €0 | -€341,600 | -100% |
| Stocks and contracts in progress | 3 | €542,410 | €565,280 | +€22,870 | +4.2% |
| Stocks | 30/36 | €542,410 | €565,280 | +€22,870 | +4.2% |
| Amounts receivable within one year | 40/41 | €983,290 | €1,087,576 | +€104,285 | +10.6% |
| Trade receivables | 40 | €295,028 | €100,301 | -€194,728 | -66.0% |
| Other amounts receivable | 41 | €688,262 | €987,275 | +€299,013 | +43.4% |
| Cash at bank and in hand | 54/58 | €287,295 | €53,861 | -€233,434 | -81.3% |
| Deferred charges and accrued income | 490/1 | €73,079 | €101 | -€72,978 | -99.9% |
| Total equity and liabilities | 10/49 | €3,110,364 | €2,521,603 | -€588,760 | -18.9% |
| Equity | 10/15 | €699,280 | €652,522 | -€46,758 | -6.7% |
| Contributions | 10/11 | €198,315 | €198,315 | = | 0.0% |
| Capital | 10 | €198,315 | €198,315 | = | 0.0% |
| Issued capital | 100 | €198,315 | €198,315 | = | 0.0% |
| Reserves | 13 | €338,581 | €338,581 | = | 0.0% |
| Non-distributable reserves | 130/1 | €19,831 | €19,831 | = | 0.0% |
| Legal reserve | 130 | €19,831 | €19,831 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €162,384 | €115,625 | -€46,758 | -28.8% |
| Amounts payable | 17/49 | €2,411,084 | €1,869,082 | -€542,002 | -22.5% |
| Amounts payable after more than one year | 17 | €515,652 | €625,849 | +€110,198 | +21.4% |
| Financial debts | 170/4 | €515,652 | €625,849 | +€110,198 | +21.4% |
| Amounts payable within one year | 42/48 | €1,695,432 | €1,241,294 | -€454,138 | -26.8% |
| Current portion of amounts payable after more than one year | 42 | €105,218 | €97,564 | -€7,654 | -7.3% |
| Trade debts | 44 | €1,459,583 | €1,021,271 | -€438,312 | -30.0% |
| Suppliers | 440/4 | €1,459,583 | €1,021,021 | -€438,562 | -30.0% |
| Bills of exchange payable | 441 | - | €250 | +€250 | |
| Taxes, remuneration and social security | 45 | €89,728 | €122,459 | +€32,731 | +36.5% |
| Taxes | 450/3 | - | €25,300 | +€25,300 | |
| Remuneration and social security | 454/9 | €89,728 | €97,159 | +€7,431 | +8.3% |
| Other amounts payable | 47/48 | €40,903 | €0 | -€40,903 | -100% |
| Accrued charges and deferred income | 492/3 | €200,000 | €1,938 | -€198,062 | -99.0% |
| Turnover | 70 | €10,248,138 | €10,798,662 | +€550,524 | +5.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €9,252,223 | €9,766,761 | +€514,538 | +5.6% |
| Remuneration, social security and pensions | 62 | €846,928 | €889,770 | +€42,842 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,720 | €113,171 | +€60,451 | +115% |
| Other operating charges | 640/8 | €32,368 | €33,491 | +€1,123 | +3.5% |
| Gross operating margin | 9900 | €1,346,307 | €1,556,973 | +€210,666 | +15.6% |
| Operating profit (loss) | 9901 | €414,291 | €520,541 | +€106,250 | +25.6% |
| Financial income | 75/76B | €14,655 | €6,624 | -€8,030 | -54.8% |
| Recurring financial income | 75 | €14,655 | €6,624 | -€8,030 | -54.8% |
| Financial charges | 65/66B | €42,103 | €43,698 | +€1,595 | +3.8% |
| Recurring financial charges | 65 | €42,103 | €43,698 | +€1,595 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | €386,842 | €483,467 | +€96,625 | +25.0% |
| Income taxes | 67/77 | €79,441 | €80,226 | +€784 | +1.0% |
| Profit (loss) for the period | 9904 | €307,401 | €403,242 | +€95,841 | +31.2% |
| Profit (loss) for the period to be appropriated | 9905 | €307,401 | €403,242 | +€95,841 | +31.2% |
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 16 October 2026 via checked.be.