BaVeCo: 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.
BaVeCo
Largest movements
- Stocks and contracts +€10,139
up €10,139 (+33.5%), from €30,278 to €40,416
- Cash -€8,349
down €8,349 (-24.5%), from €34,073 to €25,725
mainly Stocks and contracts (-€10,139) and Investment in fixed assets (net) (-€8,964)
- Tangible fixed assets -€3,524
down €3,524 (-4.9%), from €71,650 to €68,126
of which Furniture and vehicles: -€8,132
- Receivables within one year +€3,362
up €3,362 (+25.8%), from €13,049 to €16,411
of which Other amounts receivable: +€2,529
- Other debts +€3,734
up €3,734 (+4.9%), from €75,830 to €79,564
- Reserves +€1,900
up €1,900 (+6.1%), from €31,300 to €33,200
- Gross operating margin -€11,184
down €11,184 (-40.0%), from €27,971 to €16,787
- Depreciation +€6,455
up €6,455 (+107.0%), from €6,033 to €12,488
- Taxes -€3,446
down €3,446 (-73.4%), from €4,696 to €1,250
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 | €149,514 | €151,308 | +€1,794 | +1.2% |
| Fixed assets | 21/28 | €71,650 | €68,126 | -€3,524 | -4.9% |
| Tangible fixed assets | 22/27 | €71,650 | €68,126 | -€3,524 | -4.9% |
| Plant, machinery and equipment | 23 | €33,349 | €37,956 | +€4,607 | +13.8% |
| Furniture and vehicles | 24 | €38,301 | €30,169 | -€8,132 | -21.2% |
| Current assets | 29/58 | €77,864 | €83,183 | +€5,319 | +6.8% |
| Stocks and contracts in progress | 3 | €30,278 | €40,416 | +€10,139 | +33.5% |
| Stocks | 30/36 | €30,278 | €40,416 | +€10,139 | +33.5% |
| Amounts receivable within one year | 40/41 | €13,049 | €16,411 | +€3,362 | +25.8% |
| Trade receivables | 40 | €12,774 | €13,607 | +€833 | +6.5% |
| Other amounts receivable | 41 | €275 | €2,804 | +€2,529 | +919.0% |
| Cash at bank and in hand | 54/58 | €34,073 | €25,725 | -€8,349 | -24.5% |
| Deferred charges and accrued income | 490/1 | €464 | €631 | +€166 | +35.9% |
| Total equity and liabilities | 10/49 | €149,514 | €151,308 | +€1,794 | +1.2% |
| Equity | 10/15 | €32,374 | €34,221 | +€1,847 | +5.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €31,300 | €33,200 | +€1,900 | +6.1% |
| Distributable reserves | 133 | €31,300 | €33,200 | +€1,900 | +6.1% |
| Profit (loss) carried forward | 14 | €74 | €21 | -€53 | -72.0% |
| Amounts payable | 17/49 | €117,140 | €117,087 | -€52 | 0.0% |
| Amounts payable after more than one year | 17 | €30,885 | €30,000 | -€885 | -2.9% |
| Financial debts | 170/4 | €30,885 | €30,000 | -€885 | -2.9% |
| Amounts payable within one year | 42/48 | €85,455 | €86,087 | +€632 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €2,058 | €885 | -€1,174 | -57.0% |
| Trade debts | 44 | €5,357 | €4,439 | -€918 | -17.1% |
| Suppliers | 440/4 | €5,357 | €4,439 | -€918 | -17.1% |
| Taxes, remuneration and social security | 45 | €2,210 | €1,200 | -€1,010 | -45.7% |
| Taxes | 450/3 | €2,210 | €1,200 | -€1,010 | -45.7% |
| Other amounts payable | 47/48 | €75,830 | €79,564 | +€3,734 | +4.9% |
| Accrued charges and deferred income | 492/3 | €800 | €1,000 | +€200 | +25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,033 | €12,488 | +€6,455 | +107.0% |
| Other operating charges | 640/8 | €809 | €924 | +€115 | +14.2% |
| Gross operating margin | 9900 | €27,971 | €16,787 | -€11,184 | -40.0% |
| Operating profit (loss) | 9901 | €21,129 | €3,375 | -€17,754 | -84.0% |
| Financial income | 75/76B | €0 | €4 | +€4 | +12800.0% |
| Recurring financial income | 75 | €0 | €4 | +€4 | +12800.0% |
| Financial charges | 65/66B | €373 | €282 | -€90 | -24.2% |
| Recurring financial charges | 65 | €373 | €282 | -€90 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €20,756 | €3,097 | -€17,660 | -85.1% |
| Income taxes | 67/77 | €4,696 | €1,250 | -€3,446 | -73.4% |
| Profit (loss) for the period | 9904 | €16,061 | €1,847 | -€14,214 | -88.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,061 | €1,847 | -€14,214 | -88.5% |
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.