BAVAWE: 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.
BAVAWE
Largest movements
- Tangible fixed assets +€35,456
up €35,456 (+14.0%), from €252,684 to €288,140
of which Other tangible fixed assets: +€41,697
- Debts after one year +€34,004
up €34,004 (+20.2%), from €168,257 to €202,260
- Other debts +€8,757
up €8,757 (+18.9%), from €46,394 to €55,151
- Reserves -€6,902
down €6,902 (-38.4%), from €17,979 to €11,077
- Other operating charges +€1,837
up €1,837 (+124.6%), from €1,475 to €3,312
- Depreciation +€1,052
up €1,052 (+6.6%), from €15,860 to €16,912
- Taxes -€866
down €866 (-86.6%), from €1,000 to €134
- Gross operating margin +€551
up €551 (+2.0%), from €27,678 to €28,229
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 | €277,466 | €317,521 | +€40,054 | +14.4% |
| Fixed assets | 21/28 | €252,684 | €288,140 | +€35,456 | +14.0% |
| Tangible fixed assets | 22/27 | €252,684 | €288,140 | +€35,456 | +14.0% |
| Land and buildings | 22 | €70,009 | €66,453 | -€3,556 | -5.1% |
| Plant, machinery and equipment | 23 | €12,225 | €11,293 | -€932 | -7.6% |
| Furniture and vehicles | 24 | €2,408 | €655 | -€1,753 | -72.8% |
| Other tangible fixed assets | 26 | €168,042 | €209,739 | +€41,697 | +24.8% |
| Current assets | 29/58 | €24,782 | €29,381 | +€4,599 | +18.6% |
| Stocks and contracts in progress | 3 | €8,725 | €10,880 | +€2,155 | +24.7% |
| Stocks | 30/36 | €625 | €680 | +€55 | +8.8% |
| Contracts in progress | 37 | €8,100 | €10,200 | +€2,100 | +25.9% |
| Amounts receivable within one year | 40/41 | €12,501 | €14,586 | +€2,085 | +16.7% |
| Trade receivables | 40 | €5,768 | €3,653 | -€2,115 | -36.7% |
| Other amounts receivable | 41 | €6,734 | €10,933 | +€4,200 | +62.4% |
| Cash at bank and in hand | 54/58 | €2,031 | €720 | -€1,311 | -64.5% |
| Deferred charges and accrued income | 490/1 | €1,525 | €3,195 | +€1,670 | +109.5% |
| Total equity and liabilities | 10/49 | €277,466 | €317,521 | +€40,054 | +14.4% |
| Equity | 10/15 | €36,579 | €29,677 | -€6,902 | -18.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €17,979 | €11,077 | -€6,902 | -38.4% |
| Distributable reserves | 133 | €17,979 | €11,077 | -€6,902 | -38.4% |
| Amounts payable | 17/49 | €240,887 | €287,844 | +€46,957 | +19.5% |
| Amounts payable after more than one year | 17 | €168,257 | €202,260 | +€34,004 | +20.2% |
| Financial debts | 170/4 | €168,257 | €202,260 | +€34,004 | +20.2% |
| Amounts payable within one year | 42/48 | €72,631 | €84,083 | +€11,453 | +15.8% |
| Current portion of amounts payable after more than one year | 42 | €14,324 | €15,297 | +€973 | +6.8% |
| Trade debts | 44 | €10,412 | €12,135 | +€1,723 | +16.5% |
| Suppliers | 440/4 | €10,412 | €12,135 | +€1,723 | +16.5% |
| Taxes, remuneration and social security | 45 | €1,500 | €1,500 | = | 0.0% |
| Taxes | 450/3 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €46,394 | €55,151 | +€8,757 | +18.9% |
| Accrued charges and deferred income | 492/3 | - | €1,500 | +€1,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,860 | €16,912 | +€1,052 | +6.6% |
| Other operating charges | 640/8 | €1,475 | €3,312 | +€1,837 | +124.6% |
| Gross operating margin | 9900 | €27,678 | €28,229 | +€551 | +2.0% |
| Operating profit (loss) | 9901 | €10,343 | €8,004 | -€2,338 | -22.6% |
| Financial income | 75/76B | €231 | €332 | +€101 | +43.8% |
| Recurring financial income | 75 | €231 | €332 | +€101 | +43.8% |
| Financial charges | 65/66B | €7,537 | €7,413 | -€125 | -1.7% |
| Recurring financial charges | 65 | €7,537 | €7,413 | -€125 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €3,036 | €924 | -€2,113 | -69.6% |
| Income taxes | 67/77 | €1,000 | €134 | -€866 | -86.6% |
| Profit (loss) for the period | 9904 | €2,036 | €790 | -€1,246 | -61.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,036 | €790 | -€1,246 | -61.2% |
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 12 October 2026 via checked.be.