BIOULVAX: 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.
What changed
BIOULVAX
NACE 47.251, Retail sale of wines and spirits
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€87,521
2024 · -€101,883+€14,362
Equity
€752,943
2024 · €840,464-€87,521
Cash
€15,404
2024 · €5,191+€10,213
Balance sheet total
€1.5m
2024 · €1.6m-€94,705
Largest movements
Assets
- Tangible fixed assets -€97,878
down €97,878 (-28.0%), from €349,853 to €251,975
of which Plant, machinery and equipment: -€79,317
Equity and liabilities
- Profit (loss) carried forward -€87,521
down €87,521 (-4.3%), from -€2.0m to -€2.1m
Income statement
- Depreciation -€15,090
down €15,090 (-13.4%), from €112,449 to €97,359
- Other operating charges +€4,260
up €4,260 (+45.9%), from €9,279 to €13,539
- Staff costs -€1,894
no longer reported in 2025 (was €1,894)
- Financial charges -€917
down €917 (-41.5%), from €2,210 to €1,293
- Gross operating margin +€721
up €721 (+3.0%), from €23,949 to €24,670
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
-€101,883
Gross operating margin
+€721
Staff costs
+€1,894
Depreciation
+€15,090
Other operating charges
-€4,260
Financial charges
+€917
Result 2025
-€87,521
raises the resultlowers the result
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.
From operations
+€18,860
Investment
+€519
Financing
-€9,166
Cash 2024
€5,191
From operations (derived)
+€18,860
Net result for the year
-€87,521
Depreciation
+€97,359
Receivables within one year
+€5,510
Deferred charges and accrued income
+€1,530
Trade debts
-€603
Smaller working-capital items
+€143
Other debts
+€2,441
Investment (derived)
+€519
Investment in fixed assets (net)
+€519
Financing
-€9,166
Debts after one year
-€6,310
Current portion of long-term debt
-€2,856
Cash 2025
€15,404
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,625,789 | €1,531,084 | -€94,705 | -5.8% |
| Fixed assets | 21/28 | €1,565,913 | €1,468,035 | -€97,878 | -6.3% |
| Tangible fixed assets | 22/27 | €349,853 | €251,975 | -€97,878 | -28.0% |
| Land and buildings | 22 | €91,704 | €91,704 | = | 0.0% |
| Plant, machinery and equipment | 23 | €215,171 | €135,855 | -€79,317 | -36.9% |
| Furniture and vehicles | 24 | €7,308 | €81 | -€7,228 | -98.9% |
| Leasing and similar rights | 25 | €24,025 | €14,725 | -€9,300 | -38.7% |
| Other tangible fixed assets | 26 | €11,645 | €9,611 | -€2,034 | -17.5% |
| Financial fixed assets | 28 | €1,216,060 | €1,216,060 | = | 0.0% |
| Current assets | 29/58 | €59,875 | €63,048 | +€3,173 | +5.3% |
| Amounts receivable within one year | 40/41 | €53,154 | €47,645 | -€5,510 | -10.4% |
| Trade receivables | 40 | €18,843 | €15,971 | -€2,873 | -15.2% |
| Other amounts receivable | 41 | €34,311 | €31,674 | -€2,637 | -7.7% |
| Cash at bank and in hand | 54/58 | €5,191 | €15,404 | +€10,213 | +197% |
| Deferred charges and accrued income | 490/1 | €1,530 | - | -€1,530 | |
| Total equity and liabilities | 10/49 | €1,625,789 | €1,531,084 | -€94,705 | -5.8% |
| Equity | 10/15 | €840,464 | €752,943 | -€87,521 | -10.4% |
| Contributions | 10/11 | €2,850,776 | €2,850,776 | = | 0.0% |
| Capital | 10 | €2,850,776 | €2,850,776 | = | 0.0% |
| Issued capital | 100 | €2,850,776 | €2,850,776 | = | 0.0% |
| Reserves | 13 | €8,800 | €8,800 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,800 | €8,800 | = | 0.0% |
| Legal reserve | 130 | €8,800 | €8,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,019,112 | -€2,106,633 | -€87,521 | -4.3% |
| Amounts payable | 17/49 | €785,325 | €778,140 | -€7,185 | -0.9% |
| Amounts payable after more than one year | 17 | €649,494 | €643,184 | -€6,310 | -1.0% |
| Financial debts | 170/4 | €26,282 | €19,972 | -€6,310 | -24.0% |
| Other amounts payable | 178/9 | €623,212 | €623,212 | = | 0.0% |
| Amounts payable within one year | 42/48 | €135,831 | €134,956 | -€874 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €9,166 | €6,310 | -€2,856 | -31.2% |
| Trade debts | 44 | €7,082 | €6,479 | -€603 | -8.5% |
| Suppliers | 440/4 | €7,082 | €6,479 | -€603 | -8.5% |
| Taxes, remuneration and social security | 45 | - | €143 | +€143 | |
| Taxes | 450/3 | - | €143 | +€143 | |
| Other amounts payable | 47/48 | €119,583 | €122,024 | +€2,441 | +2.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | -€0 | |
| Remuneration, social security and pensions | 62 | €1,894 | - | -€1,894 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,449 | €97,359 | -€15,090 | -13.4% |
| Other operating charges | 640/8 | €9,279 | €13,539 | +€4,260 | +45.9% |
| Gross operating margin | 9900 | €23,949 | €24,670 | +€721 | +3.0% |
| Operating profit (loss) | 9901 | -€99,674 | -€86,228 | +€13,446 | +13.5% |
| Financial charges | 65/66B | €2,210 | €1,293 | -€917 | -41.5% |
| Recurring financial charges | 65 | €2,210 | €1,293 | -€917 | -41.5% |
| Profit (loss) for the period before taxes | 9903 | -€101,883 | -€87,521 | +€14,362 | +14.1% |
| Profit (loss) for the period | 9904 | -€101,883 | -€87,521 | +€14,362 | +14.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€101,883 | -€87,521 | +€14,362 | +14.1% |
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 20 October 2026 via checked.be.