BCVO: what changed
Two fiscal 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.
What changed
BCVO
NACE 70.100, Activities of head offices
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€38,019
2024 · €15,537+€22,482
Equity
€1.2m
2024 · €2.4m-€1.2m
Cash
€16,149
2024 · €4,684+€11,465
Balance sheet total
€3.5m
2024 · €5.8m-€2.3m
Largest movements
Assets
- Financial fixed assets -€1.9m
down €1.9m (-75.5%), from €2.5m to €623,067
- Receivables within one year -€356,649
down €356,649 (-32.0%), from €1.1m to €756,501
of which Other amounts receivable: -€356,508
Equity and liabilities
- Reserves -€1.2m
down €1.2m (-50.8%), from €2.3m to €1.1m
of which Distributable reserves: -€1.2m
- Other debts -€993,183
down €993,183 (-79.4%), from €1.3m to €257,148
- Debts after one year -€102,998
down €102,998 (-9.1%), from €1.1m to €1.0m
Income statement
No income-statement line moved by more than 1% of the activity.
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.
Result 2024
€15,537
Depreciation
+€2,681
Other operating charges
-€833
Other operating items
-€13,235
Financial income
-€10,654
Financial charges
+€44,522
Result 2025
€38,019
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.
From operations
-€531,531
Investment
+€1.9m
Financing
-€1.4m
Cash 2024
€4,684
From operations (derived)
-€531,531
Net result for the year
+€38,019
Depreciation
+€68,814
Receivables within one year
+€356,649
Deferred charges and accrued income
+€4,536
Trade debts
-€17,888
Tax, wage and social debts
-€12,518
Other debts
-€993,183
Accrued charges and deferred income
+€24,040
Investment (derived)
+€1.9m
Investment in fixed assets (net)
+€1.9m
Financing
-€1.4m
Debts after one year
-€102,998
Current portion of long-term debt
+€2,830
Short-term financial debts
-€57,000
Contributions, distributions and other
-€1.2m
Cash 2025
€16,149
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,822,857 | €3,502,947 | -€2.3m | -39.8% |
| Fixed assets | 21/28 | €4,698,983 | €2,728,793 | -€2.0m | -41.9% |
| Tangible fixed assets | 22/27 | €2,155,621 | €2,105,726 | -€49,895 | -2.3% |
| Land and buildings | 22 | €2,054,400 | €2,005,736 | -€48,664 | -2.4% |
| Plant, machinery and equipment | 23 | €1,569 | €337 | -€1,232 | -78.5% |
| Other tangible fixed assets | 26 | €99,652 | €99,652 | = | 0.0% |
| Financial fixed assets | 28 | €2,543,361 | €623,067 | -€1.9m | -75.5% |
| Affiliated companies | 280/1 | €2,543,361 | €623,067 | -€1.9m | -75.5% |
| Participating interests | 280 | €2,543,361 | €623,067 | -€1.9m | -75.5% |
| Current assets | 29/58 | €1,123,874 | €774,155 | -€349,720 | -31.1% |
| Amounts receivable within one year | 40/41 | €1,113,149 | €756,501 | -€356,649 | -32.0% |
| Trade receivables | 40 | €20,128 | €19,988 | -€140 | -0.7% |
| Other amounts receivable | 41 | €1,093,021 | €736,513 | -€356,508 | -32.6% |
| Cash at bank and in hand | 54/58 | €4,684 | €16,149 | +€11,465 | +244.8% |
| Deferred charges and accrued income | 490/1 | €6,041 | €1,505 | -€4,536 | -75.1% |
| Total equity and liabilities | 10/49 | €5,822,857 | €3,502,947 | -€2.3m | -39.8% |
| Equity | 10/15 | €2,353,313 | €1,190,121 | -€1.2m | -49.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,291,313 | €1,128,121 | -€1.2m | -50.8% |
| Non-distributable reserves | 130/1 | €6,200 | €5,033 | -€1,167 | -18.8% |
| Legal reserve | 130 | €6,200 | €5,033 | -€1,167 | -18.8% |
| Distributable reserves | 133 | €2,285,113 | €1,123,088 | -€1.2m | -50.9% |
| Amounts payable | 17/49 | €3,469,544 | €2,312,827 | -€1.2m | -33.3% |
| Amounts payable after more than one year | 17 | €1,127,155 | €1,024,156 | -€102,998 | -9.1% |
| Financial debts | 170/4 | €1,127,155 | €1,024,156 | -€102,998 | -9.1% |
| Credit institutions | 173 | €1,127,155 | €1,024,156 | -€102,998 | -9.1% |
| Amounts payable within one year | 42/48 | €2,342,270 | €1,264,512 | -€1.1m | -46.0% |
| Current portion of amounts payable after more than one year | 42 | €100,172 | €103,001 | +€2,830 | +2.8% |
| Financial debts | 43 | €944,831 | €887,831 | -€57,000 | -6.0% |
| Other loans | 439 | €944,831 | €887,831 | -€57,000 | -6.0% |
| Trade debts | 44 | €21,545 | €3,657 | -€17,888 | -83.0% |
| Suppliers | 440/4 | €21,545 | €3,657 | -€17,888 | -83.0% |
| Taxes, remuneration and social security | 45 | €25,392 | €12,874 | -€12,518 | -49.3% |
| Taxes | 450/3 | €25,392 | €12,874 | -€12,518 | -49.3% |
| Other amounts payable | 47/48 | €1,250,331 | €257,148 | -€993,183 | -79.4% |
| Accrued charges and deferred income | 492/3 | €119 | €24,159 | +€24,040 | +20201.3% |
| Operating income | 70/76A | €233,558 | €236,205 | +€2,648 | +1.1% |
| Other operating income | 74 | €233,558 | €236,205 | +€2,648 | +1.1% |
| Operating charges | 60/66A | €153,876 | €167,910 | +€14,034 | +9.1% |
| Services and other goods | 61 | €73,109 | €88,992 | +€15,882 | +21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,495 | €68,814 | -€2,681 | -3.8% |
| Other operating charges | 640/8 | €9,271 | €10,104 | +€833 | +9.0% |
| Operating profit (loss) | 9901 | €79,682 | €68,295 | -€11,386 | -14.3% |
| Financial income | 75/76B | €52,373 | €41,719 | -€10,654 | -20.3% |
| Recurring financial income | 75 | €52,373 | €41,719 | -€10,654 | -20.3% |
| Income from current assets | 751 | €52,373 | €41,719 | -€10,654 | -20.3% |
| Financial charges | 65/66B | €116,518 | €71,996 | -€44,522 | -38.2% |
| Recurring financial charges | 65 | €116,518 | €71,996 | -€44,522 | -38.2% |
| Debt charges | 650 | €40,514 | €37,780 | -€2,733 | -6.7% |
| Other financial charges | 652/9 | €76,004 | €34,215 | -€41,789 | -55.0% |
| Profit (loss) for the period before taxes | 9903 | €15,537 | €38,019 | +€22,482 | +144.7% |
| Profit (loss) for the period | 9904 | €15,537 | €38,019 | +€22,482 | +144.7% |
| Profit (loss) for the period to be appropriated | 9905 | €15,537 | €38,019 | +€22,482 | +144.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.