BAVARD: 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.
BAVARD
Largest movements
- Cash +€24,924
up €24,924 (+4,675%), from €533 to €25,457
mainly Net result for the year (+€18,296) and Other debts (+€7,316)
- Tangible fixed assets -€1,780
down €1,780 (-5.9%), from €29,919 to €28,140
of which Land and buildings: -€1,208
- Receivables within one year -€1,271
down €1,271 (-9.2%), from €13,794 to €12,524
- Profit (loss) carried forward +€18,296
up €18,296, from -€7,503 to €10,793
- Other debts +€7,316
up €7,316 (+75.1%), from €9,741 to €17,057
- Debts after one year -€2,396
down €2,396 (-9.9%), from €24,131 to €21,735
- Trade debts -€1,704
down €1,704 (-29.9%), from €5,695 to €3,991
- Tax, wage and social debts -€1,330
down €1,330 (-15.8%), from €8,393 to €7,063
- Gross operating margin +€24,710
up €24,710, from -€20 to €24,690
- Financial charges +€1,053
up €1,053 (+114%), from €926 to €1,980
- Taxes +€771
up €771 (+808%), from €95 to €866
- Other operating charges +€401
up €401 (+35.1%), from €1,143 to €1,544
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 | €44,763 | €66,365 | +€21,602 | +48.3% |
| Formation expenses | 20 | €469 | €244 | -€225 | -47.9% |
| Fixed assets | 21/28 | €29,919 | €28,140 | -€1,780 | -5.9% |
| Tangible fixed assets | 22/27 | €29,919 | €28,140 | -€1,780 | -5.9% |
| Land and buildings | 22 | €29,077 | €27,869 | -€1,208 | -4.2% |
| Furniture and vehicles | 24 | €843 | €271 | -€571 | -67.8% |
| Current assets | 29/58 | €14,375 | €37,980 | +€23,606 | +164% |
| Amounts receivable within one year | 40/41 | €13,794 | €12,524 | -€1,271 | -9.2% |
| Trade receivables | 40 | €13,794 | €12,524 | -€1,271 | -9.2% |
| Cash at bank and in hand | 54/58 | €533 | €25,457 | +€24,924 | +4,675% |
| Deferred charges and accrued income | 490/1 | €48 | - | -€48 | |
| Total equity and liabilities | 10/49 | €44,763 | €66,365 | +€21,602 | +48.3% |
| Equity | 10/15 | -€5,503 | €12,793 | +€18,296 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,503 | €10,793 | +€18,296 | |
| Amounts payable | 17/49 | €50,267 | €53,572 | +€3,305 | +6.6% |
| Amounts payable after more than one year | 17 | €24,131 | €21,735 | -€2,396 | -9.9% |
| Financial debts | 170/4 | €24,131 | €21,735 | -€2,396 | -9.9% |
| Amounts payable within one year | 42/48 | €26,136 | €30,506 | +€4,371 | +16.7% |
| Current portion of amounts payable after more than one year | 42 | €2,306 | €2,396 | +€89 | +3.9% |
| Trade debts | 44 | €5,695 | €3,991 | -€1,704 | -29.9% |
| Suppliers | 440/4 | €5,695 | €3,991 | -€1,704 | -29.9% |
| Taxes, remuneration and social security | 45 | €8,393 | €7,063 | -€1,330 | -15.8% |
| Taxes | 450/3 | €8,393 | €7,063 | -€1,330 | -15.8% |
| Other amounts payable | 47/48 | €9,741 | €17,057 | +€7,316 | +75.1% |
| Accrued charges and deferred income | 492/3 | - | €1,330 | +€1,330 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,010 | €2,004 | -€6 | -0.3% |
| Other operating charges | 640/8 | €1,143 | €1,544 | +€401 | +35.1% |
| Gross operating margin | 9900 | -€20 | €24,690 | +€24,710 | |
| Operating profit (loss) | 9901 | -€3,172 | €21,142 | +€24,314 | |
| Financial charges | 65/66B | €926 | €1,980 | +€1,053 | +114% |
| Recurring financial charges | 65 | €926 | €1,980 | +€1,053 | +114% |
| Profit (loss) for the period before taxes | 9903 | -€4,098 | €19,162 | +€23,261 | |
| Income taxes | 67/77 | €95 | €866 | +€771 | +808% |
| Profit (loss) for the period | 9904 | -€4,194 | €18,296 | +€22,490 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,194 | €18,296 | +€22,490 |
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 17 October 2026 via checked.be.