BAVAT: 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.
BAVAT
Largest movements
- Receivables within one year +€74,155
up €74,155 (+221.8%), from €33,437 to €107,591
of which Other amounts receivable: +€60,251
- Cash -€48,625
down €48,625 (-18.6%), from €261,766 to €213,141
mainly Other debts (-€99,888) and Receivables within one year (-€74,155)
- Intangible fixed assets -€19,979
down €19,979 (-9.9%), from €201,532 to €181,553
- Other debts -€99,888
down €99,888 (-40.0%), from €249,975 to €150,087
- Reserves +€58,817
up €58,817 (+36.4%), from €161,532 to €220,348
of which Distributable reserves: +€58,817
- Tax, wage and social debts +€32,577
up €32,577 (+162.3%), from €20,069 to €52,646
of which Taxes: +€25,432
- Accrued charges and deferred income +€16,423
up €16,423 (+26121.5%), from €63 to €16,485
- Trade debts -€8,475
down €8,475 (-40.5%), from €20,917 to €12,442
- Gross operating margin +€82,872
up €82,872 (+28.1%), from €294,927 to €377,800
- Staff costs +€58,847
up €58,847 (+29.1%), from €202,034 to €260,881
- Taxes +€6,609
up €6,609 (+33.1%), from €19,949 to €26,558
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 | €514,529 | €513,983 | -€546 | -0.1% |
| Fixed assets | 21/28 | €209,030 | €187,269 | -€21,761 | -10.4% |
| Intangible fixed assets | 21 | €201,532 | €181,553 | -€19,979 | -9.9% |
| Tangible fixed assets | 22/27 | €7,497 | €5,716 | -€1,782 | -23.8% |
| Plant, machinery and equipment | 23 | €7,326 | €5,716 | -€1,611 | -22.0% |
| Furniture and vehicles | 24 | €171 | - | -€171 | |
| Current assets | 29/58 | €305,499 | €326,714 | +€21,215 | +6.9% |
| Amounts receivable within one year | 40/41 | €33,437 | €107,591 | +€74,155 | +221.8% |
| Trade receivables | 40 | €22,526 | €36,429 | +€13,904 | +61.7% |
| Other amounts receivable | 41 | €10,911 | €71,162 | +€60,251 | +552.2% |
| Cash at bank and in hand | 54/58 | €261,766 | €213,141 | -€48,625 | -18.6% |
| Deferred charges and accrued income | 490/1 | €10,297 | €5,982 | -€4,315 | -41.9% |
| Total equity and liabilities | 10/49 | €514,529 | €513,983 | -€546 | -0.1% |
| Equity | 10/15 | €223,505 | €282,322 | +€58,817 | +26.3% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €161,532 | €220,348 | +€58,817 | +36.4% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €155,334 | €214,151 | +€58,817 | +37.9% |
| Amounts payable | 17/49 | €291,024 | €231,661 | -€59,363 | -20.4% |
| Amounts payable within one year | 42/48 | €290,961 | €215,175 | -€75,785 | -26.0% |
| Trade debts | 44 | €20,917 | €12,442 | -€8,475 | -40.5% |
| Suppliers | 440/4 | €20,917 | €12,442 | -€8,475 | -40.5% |
| Taxes, remuneration and social security | 45 | €20,069 | €52,646 | +€32,577 | +162.3% |
| Taxes | 450/3 | - | €25,432 | +€25,432 | |
| Remuneration and social security | 454/9 | €20,069 | €27,214 | +€7,145 | +35.6% |
| Other amounts payable | 47/48 | €249,975 | €150,087 | -€99,888 | -40.0% |
| Accrued charges and deferred income | 492/3 | €63 | €16,485 | +€16,423 | +26121.5% |
| Remuneration, social security and pensions | 62 | €202,034 | €260,881 | +€58,847 | +29.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,759 | €30,231 | -€527 | -1.7% |
| Other operating charges | 640/8 | €1,519 | €1,008 | -€511 | -33.7% |
| Gross operating margin | 9900 | €294,927 | €377,800 | +€82,872 | +28.1% |
| Operating profit (loss) | 9901 | €60,615 | €85,680 | +€25,064 | +41.4% |
| Financial income | 75/76B | €3,196 | €2,209 | -€987 | -30.9% |
| Recurring financial income | 75 | €3,196 | €2,209 | -€987 | -30.9% |
| Financial charges | 65/66B | €931 | €2,514 | +€1,583 | +170.1% |
| Recurring financial charges | 65 | €931 | €2,514 | +€1,583 | +170.1% |
| Profit (loss) for the period before taxes | 9903 | €62,881 | €85,375 | +€22,495 | +35.8% |
| Income taxes | 67/77 | €19,949 | €26,558 | +€6,609 | +33.1% |
| Profit (loss) for the period | 9904 | €42,931 | €58,817 | +€15,885 | +37.0% |
| Profit (loss) for the period to be appropriated | 9905 | €42,931 | €58,817 | +€15,885 | +37.0% |
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.