BaVeDa: 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.
BaVeDa
Largest movements
- Cash +€29,529
up €29,529 (+53.7%), from €54,947 to €84,475
mainly Net result for the year (+€140,167) and Depreciation (+€24,009)
- Reserves +€81,400
up €81,400 (+4.1%), from €2.0m to €2.1m
- Other debts -€75,443
down €75,443 (-10.3%), from €729,359 to €653,916
- Financial income +€163,672
up €163,672 (+49942.7%), from €328 to €164,000
- Taxes +€13,326
up €13,326 (+9713.7%), from €137 to €13,463
- Gross operating margin -€4,055
down €4,055 (-16.8%), from €24,107 to €20,051
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 | €2,819,901 | €2,831,920 | +€12,020 | +0.4% |
| Fixed assets | 21/28 | €2,762,025 | €2,738,016 | -€24,009 | -0.9% |
| Tangible fixed assets | 22/27 | €92,025 | €68,016 | -€24,009 | -26.1% |
| Furniture and vehicles | 24 | €92,025 | €68,016 | -€24,009 | -26.1% |
| Financial fixed assets | 28 | €2,670,000 | €2,670,000 | = | 0.0% |
| Current assets | 29/58 | €57,876 | €93,905 | +€36,029 | +62.3% |
| Amounts receivable within one year | 40/41 | €2,363 | €8,519 | +€6,156 | +260.5% |
| Trade receivables | 40 | €0 | €8,000 | +€8,000 | |
| Other amounts receivable | 41 | €2,363 | €519 | -€1,844 | -78.1% |
| Cash at bank and in hand | 54/58 | €54,947 | €84,475 | +€29,529 | +53.7% |
| Deferred charges and accrued income | 490/1 | €566 | €911 | +€345 | +61.0% |
| Total equity and liabilities | 10/49 | €2,819,901 | €2,831,920 | +€12,020 | +0.4% |
| Equity | 10/15 | €2,007,099 | €2,094,766 | +€87,667 | +4.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,994,816 | €2,076,216 | +€81,400 | +4.1% |
| Distributable reserves | 133 | €1,994,816 | €2,076,216 | +€81,400 | +4.1% |
| Profit (loss) carried forward | 14 | -€6,267 | €0 | +€6,267 | |
| Amounts payable | 17/49 | €812,802 | €737,155 | -€75,647 | -9.3% |
| Amounts payable after more than one year | 17 | €60,846 | €38,844 | -€22,002 | -36.2% |
| Financial debts | 170/4 | €60,846 | €38,844 | -€22,002 | -36.2% |
| Amounts payable within one year | 42/48 | €751,956 | €698,311 | -€53,646 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €21,073 | €22,002 | +€928 | +4.4% |
| Trade debts | 44 | €0 | €1,966 | +€1,966 | |
| Suppliers | 440/4 | €0 | €1,966 | +€1,966 | |
| Taxes, remuneration and social security | 45 | €1,524 | €20,427 | +€18,903 | +1240.4% |
| Taxes | 450/3 | €1,524 | €20,427 | +€18,903 | +1240.4% |
| Other amounts payable | 47/48 | €729,359 | €653,916 | -€75,443 | -10.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,009 | €24,009 | = | 0.0% |
| Other operating charges | 640/8 | €2,006 | €1,817 | -€189 | -9.4% |
| Gross operating margin | 9900 | €24,107 | €20,051 | -€4,055 | -16.8% |
| Operating profit (loss) | 9901 | -€1,909 | -€5,775 | -€3,866 | -202.5% |
| Financial income | 75/76B | €328 | €164,000 | +€163,672 | +49942.7% |
| Recurring financial income | 75 | €328 | €164,000 | +€163,672 | +49942.7% |
| Financial charges | 65/66B | €4,548 | €4,594 | +€46 | +1.0% |
| Recurring financial charges | 65 | €4,548 | €4,594 | +€46 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,130 | €153,630 | +€159,760 | |
| Income taxes | 67/77 | €137 | €13,463 | +€13,326 | +9713.7% |
| Profit (loss) for the period | 9904 | -€6,267 | €140,167 | +€146,434 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,267 | €140,167 | +€146,434 |
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.