BAVECON: 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.
BAVECON
Largest movements
- Cash -€342,614
down €342,614 (-86.3%), from €397,121 to €54,506
mainly Receivables within one year (-€322,776) and Deferred charges and accrued income (-€43,912)
- Receivables within one year +€322,776
up €322,776 (+34.3%), from €940,840 to €1.3m
of which Other amounts receivable: +€352,529
- Deferred charges and accrued income +€43,912
up €43,912 (+188.7%), from €23,276 to €67,188
No liability line moved by more than 1% of the balance sheet total.
- Taxes +€27,080
up €27,080 (+189.3%), from €14,308 to €41,388
- Financial income +€15,700
up €15,700 (+51.1%), from €30,698 to €46,397
of which Financial income: +€15,700
- Gross operating margin +€12,580
up €12,580 (+55.9%), from €22,517 to €35,097
- Other operating charges +€7,746
up €7,746 (+1139.3%), from €680 to €8,426
- Depreciation -€4,171
down €4,171 (-76.0%), from €5,486 to €1,315
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 | €1,366,852 | €1,387,152 | +€20,300 | +1.5% |
| Fixed assets | 21/28 | €5,615 | €1,842 | -€3,774 | -67.2% |
| Tangible fixed assets | 22/27 | €5,468 | €1,694 | -€3,774 | -69.0% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €5,468 | €1,694 | -€3,774 | -69.0% |
| Financial fixed assets | 28 | €147 | €147 | = | 0.0% |
| Current assets | 29/58 | €1,361,237 | €1,385,310 | +€24,074 | +1.8% |
| Amounts receivable within one year | 40/41 | €940,840 | €1,263,616 | +€322,776 | +34.3% |
| Trade receivables | 40 | €44,437 | €14,683 | -€29,754 | -67.0% |
| Other amounts receivable | 41 | €896,403 | €1,248,932 | +€352,529 | +39.3% |
| Cash at bank and in hand | 54/58 | €397,121 | €54,506 | -€342,614 | -86.3% |
| Deferred charges and accrued income | 490/1 | €23,276 | €67,188 | +€43,912 | +188.7% |
| Total equity and liabilities | 10/49 | €1,366,852 | €1,387,152 | +€20,300 | +1.5% |
| Equity | 10/15 | €1,346,029 | €1,359,836 | +€13,807 | +1.0% |
| Contributions | 10/11 | €52,469 | €52,469 | = | 0.0% |
| Reserves | 13 | €1,293,384 | €1,307,191 | +€13,807 | +1.1% |
| Non-distributable reserves | 130/1 | €1,556 | €1,556 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,556 | €1,556 | = | 0.0% |
| Distributable reserves | 133 | €1,291,828 | €1,305,635 | +€13,807 | +1.1% |
| Profit (loss) carried forward | 14 | €175 | €175 | = | 0.0% |
| Amounts payable | 17/49 | €20,823 | €27,316 | +€6,493 | +31.2% |
| Amounts payable within one year | 42/48 | €20,823 | €27,316 | +€6,493 | +31.2% |
| Financial debts | 43 | €90 | €90 | = | 0.0% |
| Credit institutions | 430/8 | €90 | €90 | = | 0.0% |
| Trade debts | 44 | €7,764 | €10,479 | +€2,714 | +35.0% |
| Suppliers | 440/4 | €7,764 | €10,479 | +€2,714 | +35.0% |
| Taxes, remuneration and social security | 45 | €11,513 | €13,120 | +€1,607 | +14.0% |
| Taxes | 450/3 | €10,168 | €11,688 | +€1,520 | +15.0% |
| Remuneration and social security | 454/9 | €1,345 | €1,431 | +€87 | +6.4% |
| Other amounts payable | 47/48 | €1,456 | €3,628 | +€2,172 | +149.1% |
| Non-recurring operating income | 76A | - | €2,913 | +€2,913 | |
| Remuneration, social security and pensions | 62 | €9,216 | €9,376 | +€160 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,486 | €1,315 | -€4,171 | -76.0% |
| Other operating charges | 640/8 | €680 | €8,426 | +€7,746 | +1139.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €22,517 | €35,097 | +€12,580 | +55.9% |
| Operating profit (loss) | 9901 | €7,135 | €15,981 | +€8,845 | +124.0% |
| Financial income | 75/76B | €30,698 | €46,397 | +€15,700 | +51.1% |
| Recurring financial income | 75 | €30,698 | €46,397 | +€15,700 | +51.1% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €156 | €166 | +€10 | +6.2% |
| Recurring financial charges | 65 | €156 | €166 | +€10 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | €37,677 | €62,213 | +€24,535 | +65.1% |
| Income taxes | 67/77 | €14,308 | €41,388 | +€27,080 | +189.3% |
| Profit (loss) for the period | 9904 | €23,369 | €20,824 | -€2,544 | -10.9% |
| Profit (loss) for the period to be appropriated | 9905 | €23,369 | €20,824 | -€2,544 | -10.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.