Bivarco: 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.
Bivarco
Largest movements
- Receivables within one year +€305,716
up €305,716 (+115%), from €266,598 to €572,313
of which Trade receivables: +€289,920
- Cash +€116,777
up €116,777 (+98.9%), from €118,088 to €234,865
mainly Net result for the year (+€351,414) and Depreciation (+€233,143)
- Stocks and contracts +€72,198
up €72,198 (+8.0%), from €902,832 to €975,030
- Reserves +€351,414
up €351,414 (+35.6%), from €987,164 to €1.3m
of which Distributable reserves: +€351,414
- Debts after one year -€222,500
down €222,500 (-13.5%), from €1.6m to €1.4m
- Trade debts +€204,475
up €204,475 (+58.0%), from €352,294 to €556,769
- Other debts +€94,953
up €94,953 (+17.1%), from €555,731 to €650,684
- Tax, wage and social debts +€85,184
up €85,184 (+448%), from €19,012 to €104,196
- Financial income +€90,448
up €90,448 (+594%), from €15,227 to €105,674
- Gross operating margin -€87,196
down €87,196 (-12.1%), from €717,732 to €630,536
- Taxes +€78,027
up €78,027 (+455%), from €17,130 to €95,158
- Depreciation +€17,768
up €17,768 (+8.2%), from €215,376 to €233,143
- Financial charges -€14,087
down €14,087 (-28.2%), from €50,039 to €35,951
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,062,872 | €4,600,853 | +€537,981 | +13.2% |
| Fixed assets | 21/28 | €2,773,480 | €2,813,437 | +€39,957 | +1.4% |
| Tangible fixed assets | 22/27 | €2,772,730 | €2,812,687 | +€39,957 | +1.4% |
| Land and buildings | 22 | €2,070,393 | €1,953,337 | -€117,056 | -5.7% |
| Plant, machinery and equipment | 23 | €638,727 | €810,735 | +€172,008 | +26.9% |
| Furniture and vehicles | 24 | €63,609 | €48,615 | -€14,994 | -23.6% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €1,289,393 | €1,787,417 | +€498,024 | +38.6% |
| Stocks and contracts in progress | 3 | €902,832 | €975,030 | +€72,198 | +8.0% |
| Stocks | 30/36 | €902,832 | €975,030 | +€72,198 | +8.0% |
| Amounts receivable within one year | 40/41 | €266,598 | €572,313 | +€305,716 | +115% |
| Trade receivables | 40 | €199,438 | €489,358 | +€289,920 | +145% |
| Other amounts receivable | 41 | €67,160 | €82,956 | +€15,796 | +23.5% |
| Cash at bank and in hand | 54/58 | €118,088 | €234,865 | +€116,777 | +98.9% |
| Deferred charges and accrued income | 490/1 | €1,875 | €5,208 | +€3,333 | +178% |
| Total equity and liabilities | 10/49 | €4,062,872 | €4,600,853 | +€537,981 | +13.2% |
| Equity | 10/15 | €1,270,833 | €1,608,302 | +€337,469 | +26.6% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €987,164 | €1,338,578 | +€351,414 | +35.6% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €967,164 | €1,318,578 | +€351,414 | +36.3% |
| Investment grants | 15 | €83,669 | €69,724 | -€13,945 | -16.7% |
| Amounts payable | 17/49 | €2,792,039 | €2,992,551 | +€200,512 | +7.2% |
| Amounts payable after more than one year | 17 | €1,642,502 | €1,420,002 | -€222,500 | -13.5% |
| Financial debts | 170/4 | €1,642,502 | €1,420,002 | -€222,500 | -13.5% |
| Amounts payable within one year | 42/48 | €1,149,537 | €1,534,149 | +€384,612 | +33.5% |
| Current portion of amounts payable after more than one year | 42 | €222,500 | €222,500 | = | 0.0% |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €352,294 | €556,769 | +€204,475 | +58.0% |
| Suppliers | 440/4 | €352,294 | €556,769 | +€204,475 | +58.0% |
| Taxes, remuneration and social security | 45 | €19,012 | €104,196 | +€85,184 | +448% |
| Taxes | 450/3 | €19,012 | €104,196 | +€85,184 | +448% |
| Other amounts payable | 47/48 | €555,731 | €650,684 | +€94,953 | +17.1% |
| Accrued charges and deferred income | 492/3 | - | €38,400 | +€38,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €215,376 | €233,143 | +€17,768 | +8.2% |
| Other operating charges | 640/8 | €7,590 | €20,544 | +€12,954 | +171% |
| Gross operating margin | 9900 | €717,732 | €630,536 | -€87,196 | -12.1% |
| Operating profit (loss) | 9901 | €494,767 | €376,849 | -€117,918 | -23.8% |
| Financial income | 75/76B | €15,227 | €105,674 | +€90,448 | +594% |
| Recurring financial income | 75 | €15,227 | €105,674 | +€90,448 | +594% |
| Financial charges | 65/66B | €50,039 | €35,951 | -€14,087 | -28.2% |
| Recurring financial charges | 65 | €50,039 | €35,951 | -€14,087 | -28.2% |
| Profit (loss) for the period before taxes | 9903 | €459,955 | €446,572 | -€13,383 | -2.9% |
| Income taxes | 67/77 | €17,130 | €95,158 | +€78,027 | +455% |
| Profit (loss) for the period | 9904 | €442,824 | €351,414 | -€91,411 | -20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €442,824 | €351,414 | -€91,411 | -20.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.