BAVO'S WORLD: 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.
BAVO'S WORLD
Largest movements
- Tangible fixed assets -€9,489
down €9,489 (-3.7%), from €258,374 to €248,885
of which Land and buildings: -€29,492
- Receivables within one year -€6,459
down €6,459 (-20.6%), from €31,354 to €24,896
of which Other amounts receivable: -€6,459
- Debts after one year -€22,040
down €22,040 (-8.1%), from €271,379 to €249,339
- Other debts +€3,556
new in 2025: €3,556
- Gross operating margin -€12,985
down €12,985 (-14.5%), from €89,827 to €76,842
- Financial charges -€5,769
down €5,769 (-35.6%), from €16,202 to €10,432
- Depreciation +€4,354
up €4,354 (+12.0%), from €36,141 to €40,495
- Taxes -€2,358
down €2,358 (-27.9%), from €8,445 to €6,086
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.
Derived cash bridge
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 | €343,731 | €326,398 | -€17,333 | -5.0% |
| Fixed assets | 21/28 | €258,374 | €248,885 | -€9,489 | -3.7% |
| Tangible fixed assets | 22/27 | €258,374 | €248,885 | -€9,489 | -3.7% |
| Land and buildings | 22 | €230,540 | €201,048 | -€29,492 | -12.8% |
| Plant, machinery and equipment | 23 | €2,544 | €9,751 | +€7,208 | +283% |
| Furniture and vehicles | 24 | €24,860 | €35,353 | +€10,493 | +42.2% |
| Other tangible fixed assets | 26 | €430 | €2,733 | +€2,302 | +535% |
| Current assets | 29/58 | €85,357 | €77,513 | -€7,844 | -9.2% |
| Amounts receivable within one year | 40/41 | €31,354 | €24,896 | -€6,459 | -20.6% |
| Trade receivables | 40 | €19,427 | €19,427 | = | 0.0% |
| Other amounts receivable | 41 | €11,928 | €5,469 | -€6,459 | -54.1% |
| Cash at bank and in hand | 54/58 | €48,377 | €47,199 | -€1,179 | -2.4% |
| Deferred charges and accrued income | 490/1 | €5,625 | €5,418 | -€207 | -3.7% |
| Total equity and liabilities | 10/49 | €343,731 | €326,398 | -€17,333 | -5.0% |
| Equity | 10/15 | €47,644 | €46,269 | -€1,374 | -2.9% |
| Contributions | 10/11 | €1,585 | €1,585 | = | 0.0% |
| Reserves | 13 | €46,059 | €44,685 | -€1,374 | -3.0% |
| Tax-exempt reserves | 132 | €1,046 | €1,046 | = | 0.0% |
| Distributable reserves | 133 | €45,013 | €43,639 | -€1,374 | -3.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €296,087 | €280,129 | -€15,959 | -5.4% |
| Amounts payable after more than one year | 17 | €271,379 | €249,339 | -€22,040 | -8.1% |
| Financial debts | 170/4 | €271,379 | €249,339 | -€22,040 | -8.1% |
| Amounts payable within one year | 42/48 | €24,708 | €30,789 | +€6,082 | +24.6% |
| Current portion of amounts payable after more than one year | 42 | €19,784 | €18,646 | -€1,138 | -5.8% |
| Trade debts | 44 | €2,813 | €5,691 | +€2,878 | +102% |
| Suppliers | 440/4 | €2,813 | €5,691 | +€2,878 | +102% |
| Taxes, remuneration and social security | 45 | €2,111 | €2,896 | +€785 | +37.2% |
| Taxes | 450/3 | €2,111 | €2,896 | +€785 | +37.2% |
| Other amounts payable | 47/48 | - | €3,556 | +€3,556 | |
| Non-recurring operating income | 76A | €18,954 | €0 | -€18,954 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,141 | €40,495 | +€4,354 | +12.0% |
| Other operating charges | 640/8 | €13,121 | €12,714 | -€407 | -3.1% |
| Gross operating margin | 9900 | €89,827 | €76,842 | -€12,985 | -14.5% |
| Operating profit (loss) | 9901 | €40,565 | €23,632 | -€16,932 | -41.7% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €16,202 | €10,432 | -€5,769 | -35.6% |
| Recurring financial charges | 65 | €16,202 | €10,432 | -€5,769 | -35.6% |
| Profit (loss) for the period before taxes | 9903 | €24,363 | €13,200 | -€11,163 | -45.8% |
| Income taxes | 67/77 | €8,445 | €6,086 | -€2,358 | -27.9% |
| Profit (loss) for the period | 9904 | €15,918 | €7,114 | -€8,805 | -55.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,918 | €7,114 | -€8,805 | -55.3% |
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 26 October 2026 via checked.be.