BAUVE: 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.
BAUVE
Largest movements
- Receivables within one year -€2.6m
down €2.6m (-65.2%), from €3.9m to €1.4m
of which Trade receivables: -€2.4m
- Stocks and contracts +€891,238
up €891,238 (+15.9%), from €5.6m to €6.5m
- Cash +€270,429
up €270,429 (+507.5%), from €53,284 to €323,713
mainly Receivables within one year (+€2.6m) and Debts after one year (+€855,692)
- Deferred charges and accrued income +€103,434
up €103,434 (+32.6%), from €317,452 to €420,886
- Other debts -€2.1m
down €2.1m (-58.8%), from €3.6m to €1.5m
- Debts after one year +€855,692
new in 2025: €855,692
- Reserves +€164,515
up €164,515 (+9.0%), from €1.8m to €2.0m
of which Distributable reserves: +€164,515
- Trade debts -€155,321
down €155,321 (-81.4%), from €190,766 to €35,446
- Financial charges -€56,441
down €56,441 (-27.7%), from €203,667 to €147,226
- Financial income +€47,479
up €47,479 (+83.5%), from €56,892 to €104,370
- Taxes +€31,498
up €31,498 (+110.4%), from €28,521 to €60,019
- Gross operating margin +€16,316
up €16,316 (+6.5%), from €252,073 to €268,389
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 | €9,924,086 | €8,618,994 | -€1.3m | -13.2% |
| Current assets | 29/58 | €9,924,086 | €8,618,994 | -€1.3m | -13.2% |
| Stocks and contracts in progress | 3 | €5,608,559 | €6,499,797 | +€891,238 | +15.9% |
| Stocks | 30/36 | €5,608,559 | €6,499,797 | +€891,238 | +15.9% |
| Amounts receivable within one year | 40/41 | €3,944,792 | €1,374,599 | -€2.6m | -65.2% |
| Trade receivables | 40 | €2,439,806 | €12,198 | -€2.4m | -99.5% |
| Other amounts receivable | 41 | €1,504,986 | €1,362,400 | -€142,586 | -9.5% |
| Cash at bank and in hand | 54/58 | €53,284 | €323,713 | +€270,429 | +507.5% |
| Deferred charges and accrued income | 490/1 | €317,452 | €420,886 | +€103,434 | +32.6% |
| Total equity and liabilities | 10/49 | €9,924,086 | €8,618,994 | -€1.3m | -13.2% |
| Equity | 10/15 | €2,127,499 | €2,292,014 | +€164,515 | +7.7% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €1,827,499 | €1,992,014 | +€164,515 | +9.0% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Distributable reserves | 133 | €1,797,499 | €1,962,014 | +€164,515 | +9.2% |
| Amounts payable | 17/49 | €7,796,587 | €6,326,980 | -€1.5m | -18.8% |
| Amounts payable after more than one year | 17 | - | €855,692 | +€855,692 | |
| Financial debts | 170/4 | - | €855,692 | +€855,692 | |
| Amounts payable within one year | 42/48 | €7,266,959 | €5,006,391 | -€2.3m | -31.1% |
| Financial debts | 43 | €3,447,444 | €3,400,300 | -€47,144 | -1.4% |
| Credit institutions | 430/8 | €3,447,444 | €3,400,300 | -€47,144 | -1.4% |
| Trade debts | 44 | €190,766 | €35,446 | -€155,321 | -81.4% |
| Suppliers | 440/4 | €190,766 | €35,446 | -€155,321 | -81.4% |
| Taxes, remuneration and social security | 45 | €28,739 | €88,540 | +€59,801 | +208.1% |
| Taxes | 450/3 | €28,739 | €88,540 | +€59,801 | +208.1% |
| Other amounts payable | 47/48 | €3,600,010 | €1,482,105 | -€2.1m | -58.8% |
| Accrued charges and deferred income | 492/3 | €529,628 | €464,898 | -€64,730 | -12.2% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | €252,073 | €268,389 | +€16,316 | +6.5% |
| Operating profit (loss) | 9901 | €251,105 | €267,390 | +€16,285 | +6.5% |
| Financial income | 75/76B | €56,892 | €104,370 | +€47,479 | +83.5% |
| Recurring financial income | 75 | €56,892 | €104,370 | +€47,479 | +83.5% |
| Financial charges | 65/66B | €203,667 | €147,226 | -€56,441 | -27.7% |
| Recurring financial charges | 65 | €203,667 | €147,226 | -€56,441 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | €104,330 | €224,534 | +€120,204 | +115.2% |
| Income taxes | 67/77 | €28,521 | €60,019 | +€31,498 | +110.4% |
| Profit (loss) for the period | 9904 | €75,809 | €164,515 | +€88,706 | +117.0% |
| Profit (loss) for the period to be appropriated | 9905 | €75,809 | €164,515 | +€88,706 | +117.0% |
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 8 October 2026 via checked.be.