BAVACO LETTERING: 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.
BAVACO LETTERING
Largest movements
- Receivables within one year +€2,159
up €2,159 (+39.0%), from €5,539 to €7,697
of which Trade receivables: +€5,179
- Cash -€1,268
down €1,268 (-7.6%), from €16,650 to €15,382
mainly Receivables within one year (-€2,159) and Other debts (-€1,067)
- Tangible fixed assets -€1,110
down €1,110 (-37.1%), from €2,988 to €1,878
- Stocks and contracts -€600
down €600 (-8.5%), from €7,100 to €6,500
- Deferred charges and accrued income +€373
up €373 (+9.9%), from €3,777 to €4,150
- Other debts -€1,067
down €1,067 (-28.2%), from €3,788 to €2,721
- Trade debts +€449
up €449 (+115.8%), from €387 to €836
- Gross operating margin +€6,398
up €6,398, from -€2,553 to €3,845
- Financial charges -€500
down €500 (-50.1%), from €998 to €498
- Taxes +€474
up €474 (+157.0%), from €302 to €776
- Other operating charges -€51
down €51 (-4.1%), from €1,267 to €1,215
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 | €36,053 | €35,607 | -€446 | -1.2% |
| Fixed assets | 21/28 | €2,988 | €1,878 | -€1,110 | -37.1% |
| Tangible fixed assets | 22/27 | €2,988 | €1,878 | -€1,110 | -37.1% |
| Plant, machinery and equipment | 23 | €2,988 | €1,878 | -€1,110 | -37.1% |
| Current assets | 29/58 | €33,066 | €33,729 | +€664 | +2.0% |
| Stocks and contracts in progress | 3 | €7,100 | €6,500 | -€600 | -8.5% |
| Stocks | 30/36 | €7,100 | €6,500 | -€600 | -8.5% |
| Amounts receivable within one year | 40/41 | €5,539 | €7,697 | +€2,159 | +39.0% |
| Trade receivables | 40 | €2,518 | €7,697 | +€5,179 | +205.7% |
| Other amounts receivable | 41 | €3,021 | - | -€3,021 | |
| Cash at bank and in hand | 54/58 | €16,650 | €15,382 | -€1,268 | -7.6% |
| Deferred charges and accrued income | 490/1 | €3,777 | €4,150 | +€373 | +9.9% |
| Total equity and liabilities | 10/49 | €36,053 | €35,607 | -€446 | -1.2% |
| Equity | 10/15 | €28,345 | €28,653 | +€308 | +1.1% |
| Contributions | 10/11 | €19,088 | €19,088 | = | 0.0% |
| Reserves | 13 | €9,784 | €9,784 | = | 0.0% |
| Distributable reserves | 133 | €9,784 | €9,784 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€527 | -€219 | +€308 | +58.4% |
| Amounts payable | 17/49 | €7,708 | €6,955 | -€754 | -9.8% |
| Amounts payable within one year | 42/48 | €7,708 | €6,955 | -€754 | -9.8% |
| Trade debts | 44 | €387 | €836 | +€449 | +115.8% |
| Suppliers | 440/4 | €387 | €836 | +€449 | +115.8% |
| Taxes, remuneration and social security | 45 | €3,533 | €3,398 | -€135 | -3.8% |
| Taxes | 450/3 | €3,533 | €3,398 | -€135 | -3.8% |
| Other amounts payable | 47/48 | €3,788 | €2,721 | -€1,067 | -28.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,110 | €1,110 | = | 0.0% |
| Other operating charges | 640/8 | €1,267 | €1,215 | -€51 | -4.1% |
| Gross operating margin | 9900 | -€2,553 | €3,845 | +€6,398 | |
| Operating profit (loss) | 9901 | -€4,929 | €1,520 | +€6,449 | |
| Financial income | 75/76B | €35 | €61 | +€26 | +74.7% |
| Recurring financial income | 75 | €35 | €61 | +€26 | +74.7% |
| Financial charges | 65/66B | €998 | €498 | -€500 | -50.1% |
| Recurring financial charges | 65 | €998 | €498 | -€500 | -50.1% |
| Profit (loss) for the period before taxes | 9903 | -€5,892 | €1,083 | +€6,975 | |
| Income taxes | 67/77 | €302 | €776 | +€474 | +157.0% |
| Profit (loss) for the period | 9904 | -€6,194 | €308 | +€6,502 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,194 | €308 | +€6,502 |
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 11 October 2026 via checked.be.