BAUVEL: 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.
BAUVEL
Largest movements
- Tangible fixed assets +€283,826
up €283,826 (+31.6%), from €898,765 to €1.2m
of which Land and buildings: +€290,122
- Cash -€40,319
down €40,319 (-35.9%), from €112,156 to €71,837
mainly Investment in fixed assets (net) (-€348,772) and Trade debts (-€34,913)
- Other debts +€227,055
up €227,055 (+935%), from €24,293 to €251,348
- Reserves +€50,000
up €50,000 (+42.5%), from €117,519 to €167,519
of which Distributable reserves: +€50,000
- Trade debts -€34,913
down €34,913 (-81.2%), from €43,007 to €8,095
- Debts after one year -€34,167
down €34,167 (-6.0%), from €569,654 to €535,487
- Short-term financial debts +€24,668
up €24,668 (+73.5%), from €33,561 to €58,229
- Gross operating margin +€48,640
up €48,640 (+25.3%), from €192,047 to €240,687
- Financial charges +€26,445
up €26,445 (+150%), from €17,577 to €44,023
- Depreciation +€25,079
up €25,079 (+62.9%), from €39,867 to €64,946
- Staff costs -€19,072
down €19,072 (-24.0%), from €79,312 to €60,240
- Financial income -€6,914
down €6,914 (-100%), from €6,914 to €0
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 | €1,018,216 | €1,267,517 | +€249,301 | +24.5% |
| Fixed assets | 21/28 | €898,765 | €1,182,591 | +€283,826 | +31.6% |
| Tangible fixed assets | 22/27 | €898,765 | €1,182,591 | +€283,826 | +31.6% |
| Land and buildings | 22 | €811,701 | €1,101,823 | +€290,122 | +35.7% |
| Plant, machinery and equipment | 23 | €23,065 | €14,829 | -€8,236 | -35.7% |
| Furniture and vehicles | 24 | - | €9,939 | +€9,939 | |
| Other tangible fixed assets | 26 | €64,000 | €56,000 | -€8,000 | -12.5% |
| Current assets | 29/58 | €119,451 | €84,926 | -€34,525 | -28.9% |
| Amounts receivable within one year | 40/41 | €7,295 | €13,089 | +€5,794 | +79.4% |
| Trade receivables | 40 | €0 | €640 | +€640 | |
| Other amounts receivable | 41 | €7,295 | €12,449 | +€5,155 | +70.7% |
| Cash at bank and in hand | 54/58 | €112,156 | €71,837 | -€40,319 | -35.9% |
| Total equity and liabilities | 10/49 | €1,018,216 | €1,267,517 | +€249,301 | +24.5% |
| Equity | 10/15 | €316,968 | €379,063 | +€62,095 | +19.6% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Revaluation surpluses | 12 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €117,519 | €167,519 | +€50,000 | +42.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €2,583 | €2,583 | = | 0.0% |
| Distributable reserves | 133 | €114,936 | €164,936 | +€50,000 | +43.5% |
| Profit (loss) carried forward | 14 | €28,998 | €41,093 | +€12,095 | +41.7% |
| Amounts payable | 17/49 | €701,248 | €888,454 | +€187,205 | +26.7% |
| Amounts payable after more than one year | 17 | €569,654 | €535,487 | -€34,167 | -6.0% |
| Financial debts | 170/4 | €569,654 | €535,487 | -€34,167 | -6.0% |
| Amounts payable within one year | 42/48 | €131,594 | €352,967 | +€221,373 | +168% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €33,561 | €58,229 | +€24,668 | +73.5% |
| Credit institutions | 430/8 | €33,561 | €58,229 | +€24,668 | +73.5% |
| Trade debts | 44 | €43,007 | €8,095 | -€34,913 | -81.2% |
| Suppliers | 440/4 | €43,007 | €8,095 | -€34,913 | -81.2% |
| Taxes, remuneration and social security | 45 | €30,733 | €35,295 | +€4,563 | +14.8% |
| Taxes | 450/3 | €26,682 | €30,982 | +€4,300 | +16.1% |
| Remuneration and social security | 454/9 | €4,051 | €4,314 | +€263 | +6.5% |
| Other amounts payable | 47/48 | €24,293 | €251,348 | +€227,055 | +935% |
| Remuneration, social security and pensions | 62 | €79,312 | €60,240 | -€19,072 | -24.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,867 | €64,946 | +€25,079 | +62.9% |
| Other operating charges | 640/8 | €0 | - | = | |
| Gross operating margin | 9900 | €192,047 | €240,687 | +€48,640 | +25.3% |
| Operating profit (loss) | 9901 | €72,868 | €115,500 | +€42,633 | +58.5% |
| Financial income | 75/76B | €6,914 | €0 | -€6,914 | -100% |
| Recurring financial income | 75 | €6,914 | €0 | -€6,914 | -100% |
| Financial charges | 65/66B | €17,577 | €44,023 | +€26,445 | +150% |
| Recurring financial charges | 65 | €17,577 | €44,023 | +€26,445 | +150% |
| Profit (loss) for the period before taxes | 9903 | €62,204 | €71,477 | +€9,274 | +14.9% |
| Income taxes | 67/77 | €14,470 | €9,382 | -€5,088 | -35.2% |
| Profit (loss) for the period | 9904 | €47,734 | €62,095 | +€14,361 | +30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €47,734 | €62,095 | +€14,361 | +30.1% |
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 15 October 2026 via checked.be.