BEVAFIN: 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.
BEVAFIN
Largest movements
- Financial fixed assets +€26.1m
up €26.1m (+111.1%), from €23.5m to €49.6m
- Cash +€2.9m
up €2.9m (+387.6%), from €744,983 to €3.6m
mainly Debts after one year (+€21.6m) and Current investments (+€2.5m)
- Current investments -€2.5m
down €2.5m (-12.1%), from €20.9m to €18.4m
- Receivables after one year -€1.8m
down €1.8m (-3.7%), from €47.5m to €45.8m
- Debts after one year +€21.6m
new in 2025: €21.6m
of which Financial debts: +€21.5m
- Profit (loss) carried forward +€1.4m
up €1.4m (+1.3%), from €110.0m to €111.4m
- Financial charges -€2.1m
down €2.1m (-51.9%), from €4.1m to €2.0m
of which Financial charges: -€5.1m
- Other operating charges +€1.5m
up €1.5m (+1865.2%), from €81,233 to €1.6m
- Financial income +€672,971
up €672,971 (+10.6%), from €6.4m to €7.0m
- Gross operating margin -€316,007
down €316,007 (-159.5%), from -€198,171 to -€514,178
- Taxes -€63,876
down €63,876 (-41.5%), from €153,952 to €90,076
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 | €111,067,131 | €134,892,961 | +€23.8m | +21.5% |
| Fixed assets | 21/28 | €41,602,948 | €66,768,536 | +€25.2m | +60.5% |
| Tangible fixed assets | 22/27 | €18,127,030 | €17,208,164 | -€918,867 | -5.1% |
| Land and buildings | 22 | €16,061,650 | €15,175,371 | -€886,279 | -5.5% |
| Furniture and vehicles | 24 | €91,373 | €58,785 | -€32,588 | -35.7% |
| Other tangible fixed assets | 26 | €1,974,008 | €1,974,008 | = | 0.0% |
| Financial fixed assets | 28 | €23,475,918 | €49,560,373 | +€26.1m | +111.1% |
| Current assets | 29/58 | €69,464,183 | €68,124,425 | -€1.3m | -1.9% |
| Amounts receivable after more than one year | 29 | €47,534,096 | €45,774,415 | -€1.8m | -3.7% |
| Other amounts receivable | 291 | €47,534,096 | €45,774,415 | -€1.8m | -3.7% |
| Amounts receivable within one year | 40/41 | €235,602 | €230,042 | -€5,560 | -2.4% |
| Trade receivables | 40 | €48,954 | €31,089 | -€17,865 | -36.5% |
| Other amounts receivable | 41 | €186,649 | €198,953 | +€12,305 | +6.6% |
| Current investments | 50/53 | €20,876,735 | €18,357,563 | -€2.5m | -12.1% |
| Cash at bank and in hand | 54/58 | €744,983 | €3,632,502 | +€2.9m | +387.6% |
| Deferred charges and accrued income | 490/1 | €72,767 | €129,902 | +€57,135 | +78.5% |
| Total equity and liabilities | 10/49 | €111,067,131 | €134,892,961 | +€23.8m | +21.5% |
| Equity | 10/15 | €110,112,430 | €111,490,804 | +€1.4m | +1.3% |
| Contributions | 10/11 | €91,000 | €91,000 | = | 0.0% |
| Reserves | 13 | €431 | €431 | = | 0.0% |
| Tax-exempt reserves | 132 | €431 | €431 | = | 0.0% |
| Profit (loss) carried forward | 14 | €110,020,999 | €111,399,374 | +€1.4m | +1.3% |
| Amounts payable | 17/49 | €954,702 | €23,402,157 | +€22.4m | +2351.3% |
| Amounts payable after more than one year | 17 | - | €21,552,400 | +€21.6m | |
| Financial debts | 170/4 | - | €21,546,000 | +€21.5m | |
| Other amounts payable | 178/9 | - | €6,400 | +€6,400 | |
| Amounts payable within one year | 42/48 | €938,928 | €1,802,710 | +€863,782 | +92.0% |
| Financial debts | 43 | €16,131 | €4,885 | -€11,246 | -69.7% |
| Credit institutions | 430/8 | €16,131 | €4,885 | -€11,246 | -69.7% |
| Trade debts | 44 | €222,039 | €252,765 | +€30,727 | +13.8% |
| Suppliers | 440/4 | €222,039 | €252,765 | +€30,727 | +13.8% |
| Taxes, remuneration and social security | 45 | €32,687 | €98,865 | +€66,178 | +202.5% |
| Taxes | 450/3 | €12,133 | €81,722 | +€69,589 | +573.6% |
| Remuneration and social security | 454/9 | €20,554 | €17,143 | -€3,410 | -16.6% |
| Other amounts payable | 47/48 | €668,072 | €1,446,195 | +€778,123 | +116.5% |
| Accrued charges and deferred income | 492/3 | €15,774 | €47,047 | +€31,273 | +198.3% |
| Remuneration, social security and pensions | 62 | €127,926 | €151,428 | +€23,502 | +18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,027,243 | €1,036,868 | +€9,625 | +0.9% |
| Other operating charges | 640/8 | €81,233 | €1,596,408 | +€1.5m | +1865.2% |
| Non-recurring operating charges | 66A | €614 | €282,380 | +€281,766 | +45870.0% |
| Gross operating margin | 9900 | -€198,171 | -€514,178 | -€316,007 | -159.5% |
| Operating profit (loss) | 9901 | -€1,435,187 | -€3,581,262 | -€2.1m | -149.5% |
| Financial income | 75/76B | €6,372,743 | €7,045,714 | +€672,971 | +10.6% |
| Recurring financial income | 75 | €6,372,743 | €7,045,714 | +€672,971 | +10.6% |
| Financial charges | 65/66B | €4,145,834 | €1,996,002 | -€2.1m | -51.9% |
| Recurring financial charges | 65 | €4,145,834 | -€910,640 | -€5.1m | |
| Non-recurring financial charges | 66B | - | €2,906,643 | +€2.9m | |
| Profit (loss) for the period before taxes | 9903 | €791,722 | €1,468,450 | +€676,729 | +85.5% |
| Income taxes | 67/77 | €153,952 | €90,076 | -€63,876 | -41.5% |
| Profit (loss) for the period | 9904 | €637,770 | €1,378,375 | +€740,605 | +116.1% |
| Profit (loss) for the period to be appropriated | 9905 | €637,770 | €1,378,375 | +€740,605 | +116.1% |
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 4 October 2026 via checked.be.