BAVEV: 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.
BAVEV
Largest movements
- Cash +€149,017
up €149,017 (+29.4%), from €507,059 to €656,077
mainly Net result for the year (+€144,904) and Investment in fixed assets (net) (+€53,140)
- Financial fixed assets -€60,884
down €60,884 (-18.2%), from €334,270 to €273,387
- Tangible fixed assets -€30,668
down €30,668 (-26.7%), from €114,711 to €84,043
of which Plant, machinery and equipment: -€25,907
- Receivables within one year +€21,753
up €21,753 (+38.3%), from €56,745 to €78,498
of which Trade receivables: +€31,763
- Reserves +€144,904
up €144,904 (+27.7%), from €522,288 to €667,192
of which Distributable reserves: +€144,904
- Trade debts -€35,943
down €35,943 (-12.5%), from €287,615 to €251,671
- Accrued charges and deferred income -€24,694
down €24,694 (-46.0%), from €53,709 to €29,015
- Current portion of long-term debt -€18,481
down €18,481 (-100.0%), from €18,481 to €0
- Staff costs -€174,273
down €174,273 (-15.0%), from €1.2m to €984,137
- Gross operating margin -€120,213
down €120,213 (-8.6%), from €1.4m to €1.3m
- Taxes +€43,307
up €43,307 (+155.3%), from €27,884 to €71,191
- Other operating charges -€16,575
down €16,575 (-33.5%), from €49,516 to €32,941
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 | €1,076,525 | €1,149,841 | +€73,316 | +6.8% |
| Fixed assets | 21/28 | €452,407 | €360,085 | -€92,322 | -20.4% |
| Intangible fixed assets | 21 | €3,426 | €2,656 | -€770 | -22.5% |
| Tangible fixed assets | 22/27 | €114,711 | €84,043 | -€30,668 | -26.7% |
| Plant, machinery and equipment | 23 | €100,883 | €74,976 | -€25,907 | -25.7% |
| Furniture and vehicles | 24 | €13,828 | €7,612 | -€6,215 | -44.9% |
| Other tangible fixed assets | 26 | - | €1,455 | +€1,455 | |
| Financial fixed assets | 28 | €334,270 | €273,387 | -€60,884 | -18.2% |
| Current assets | 29/58 | €624,117 | €789,755 | +€165,638 | +26.5% |
| Stocks and contracts in progress | 3 | €32,456 | €32,133 | -€322 | -1.0% |
| Stocks | 30/36 | €32,456 | €32,133 | -€322 | -1.0% |
| Amounts receivable within one year | 40/41 | €56,745 | €78,498 | +€21,753 | +38.3% |
| Trade receivables | 40 | €36,897 | €68,660 | +€31,763 | +86.1% |
| Other amounts receivable | 41 | €19,849 | €9,838 | -€10,011 | -50.4% |
| Cash at bank and in hand | 54/58 | €507,059 | €656,077 | +€149,017 | +29.4% |
| Deferred charges and accrued income | 490/1 | €27,857 | €23,047 | -€4,810 | -17.3% |
| Total equity and liabilities | 10/49 | €1,076,525 | €1,149,841 | +€73,316 | +6.8% |
| Equity | 10/15 | €542,288 | €687,192 | +€144,904 | +26.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €522,288 | €667,192 | +€144,904 | +27.7% |
| Tax-exempt reserves | 132 | €105,250 | €105,250 | = | 0.0% |
| Distributable reserves | 133 | €417,038 | €561,942 | +€144,904 | +34.7% |
| Investment grants | 15 | €0 | - | = | |
| Amounts payable | 17/49 | €534,237 | €462,649 | -€71,588 | -13.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €480,527 | €433,633 | -€46,894 | -9.8% |
| Current portion of amounts payable after more than one year | 42 | €18,481 | €0 | -€18,481 | -100.0% |
| Trade debts | 44 | €287,615 | €251,671 | -€35,943 | -12.5% |
| Suppliers | 440/4 | €287,615 | €251,671 | -€35,943 | -12.5% |
| Taxes, remuneration and social security | 45 | €106,995 | €116,709 | +€9,715 | +9.1% |
| Taxes | 450/3 | €2,884 | €20,207 | +€17,323 | +600.7% |
| Remuneration and social security | 454/9 | €104,111 | €96,502 | -€7,608 | -7.3% |
| Other amounts payable | 47/48 | €67,437 | €65,253 | -€2,184 | -3.2% |
| Accrued charges and deferred income | 492/3 | €53,709 | €29,015 | -€24,694 | -46.0% |
| Remuneration, social security and pensions | 62 | €1,158,410 | €984,137 | -€174,273 | -15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,435 | €39,181 | -€4,254 | -9.8% |
| Other operating charges | 640/8 | €49,516 | €32,941 | -€16,575 | -33.5% |
| Gross operating margin | 9900 | €1,398,378 | €1,278,165 | -€120,213 | -8.6% |
| Operating profit (loss) | 9901 | €147,017 | €221,906 | +€74,889 | +50.9% |
| Financial income | 75/76B | €6,482 | €6,595 | +€114 | +1.8% |
| Recurring financial income | 75 | €6,482 | €6,595 | +€114 | +1.8% |
| Financial charges | 65/66B | €12,198 | €12,406 | +€209 | +1.7% |
| Recurring financial charges | 65 | €12,198 | €12,406 | +€209 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | €141,301 | €216,095 | +€74,794 | +52.9% |
| Income taxes | 67/77 | €27,884 | €71,191 | +€43,307 | +155.3% |
| Profit (loss) for the period | 9904 | €113,417 | €144,904 | +€31,487 | +27.8% |
| Profit (loss) for the period to be appropriated | 9905 | €113,417 | €144,904 | +€31,487 | +27.8% |
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 10 October 2026 via checked.be.