BAVEC: 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.
BAVEC
Largest movements
- Cash +€44,318
up €44,318 (+71.0%), from €62,410 to €106,727
mainly Net result for the year (+€75,498) and Depreciation (+€24,244)
- Tangible fixed assets -€18,891
down €18,891 (-18.1%), from €104,358 to €85,467
of which Furniture and vehicles: -€17,557
- Receivables within one year +€14,813
up €14,813 (+112.1%), from €13,217 to €28,029
of which Other amounts receivable: +€17,405
- Deferred charges and accrued income +€4,512
up €4,512 (+105.3%), from €4,286 to €8,799
- Reserves +€75,498
up €75,498 (+99.1%), from €76,209 to €151,707
of which Distributable reserves: +€75,498
- Debts after one year -€23,570
down €23,570 (-100.0%), from €23,570 to €0
- Other debts -€14,072
down €14,072 (-100.0%), from €14,072 to €0
- Tax, wage and social debts +€10,800
up €10,800 (+33.2%), from €32,531 to €43,331
- Trade debts -€6,686
down €6,686 (-91.4%), from €7,318 to €632
- Gross operating margin +€93,329
up €93,329 (+201.0%), from €46,425 to €139,754
- Taxes +€30,365
up €30,365 (+574.2%), from €5,288 to €35,653
- Other operating charges -€3,594
down €3,594 (-57.6%), from €6,241 to €2,648
- Depreciation -€3,422
down €3,422 (-12.4%), from €27,666 to €24,244
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 | €184,649 | €229,401 | +€44,752 | +24.2% |
| Fixed assets | 21/28 | €104,737 | €85,846 | -€18,891 | -18.0% |
| Tangible fixed assets | 22/27 | €104,358 | €85,467 | -€18,891 | -18.1% |
| Land and buildings | 22 | €16,885 | €15,985 | -€900 | -5.3% |
| Plant, machinery and equipment | 23 | €622 | €188 | -€434 | -69.8% |
| Furniture and vehicles | 24 | €86,851 | €69,293 | -€17,557 | -20.2% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €379 | €379 | = | 0.0% |
| Current assets | 29/58 | €79,912 | €143,556 | +€63,643 | +79.6% |
| Amounts receivable within one year | 40/41 | €13,217 | €28,029 | +€14,813 | +112.1% |
| Trade receivables | 40 | €2,592 | €0 | -€2,592 | -100.0% |
| Other amounts receivable | 41 | €10,625 | €28,029 | +€17,405 | +163.8% |
| Cash at bank and in hand | 54/58 | €62,410 | €106,727 | +€44,318 | +71.0% |
| Deferred charges and accrued income | 490/1 | €4,286 | €8,799 | +€4,512 | +105.3% |
| Total equity and liabilities | 10/49 | €184,649 | €229,401 | +€44,752 | +24.2% |
| Equity | 10/15 | €82,407 | €158,110 | +€75,704 | +91.9% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €76,209 | €151,707 | +€75,498 | +99.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €76,209 | €151,707 | +€75,498 | +99.1% |
| Profit (loss) carried forward | 14 | - | €206 | +€206 | |
| Amounts payable | 17/49 | €102,243 | €71,291 | -€30,952 | -30.3% |
| Amounts payable after more than one year | 17 | €23,570 | €0 | -€23,570 | -100.0% |
| Financial debts | 170/4 | €23,570 | €0 | -€23,570 | -100.0% |
| Amounts payable within one year | 42/48 | €78,672 | €71,291 | -€7,381 | -9.4% |
| Current portion of amounts payable after more than one year | 42 | €24,751 | €23,570 | -€1,181 | -4.8% |
| Financial debts | 43 | - | €3,758 | +€3,758 | |
| Credit institutions | 430/8 | - | €3,758 | +€3,758 | |
| Trade debts | 44 | €7,318 | €632 | -€6,686 | -91.4% |
| Suppliers | 440/4 | €7,318 | €632 | -€6,686 | -91.4% |
| Taxes, remuneration and social security | 45 | €32,531 | €43,331 | +€10,800 | +33.2% |
| Taxes | 450/3 | €32,531 | €43,331 | +€10,800 | +33.2% |
| Other amounts payable | 47/48 | €14,072 | €0 | -€14,072 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,666 | €24,244 | -€3,422 | -12.4% |
| Other operating charges | 640/8 | €6,241 | €2,648 | -€3,594 | -57.6% |
| Gross operating margin | 9900 | €46,425 | €139,754 | +€93,329 | +201.0% |
| Operating profit (loss) | 9901 | €12,517 | €112,862 | +€100,345 | +801.7% |
| Financial income | 75/76B | €66 | €428 | +€362 | +552.3% |
| Recurring financial income | 75 | €66 | €428 | +€362 | +552.3% |
| Financial charges | 65/66B | €3,103 | €2,138 | -€965 | -31.1% |
| Recurring financial charges | 65 | €3,103 | €2,138 | -€965 | -31.1% |
| Profit (loss) for the period before taxes | 9903 | €9,480 | €111,151 | +€101,671 | +1072.5% |
| Income taxes | 67/77 | €5,288 | €35,653 | +€30,365 | +574.2% |
| Profit (loss) for the period | 9904 | €4,192 | €75,498 | +€71,306 | +1701.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,192 | €75,498 | +€71,306 | +1701.1% |
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 9 October 2026 via checked.be.