BPV IMMO: 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.
BPV IMMO
Largest movements
- Receivables within one year +€37,874
up €37,874 (+80.4%), from €47,110 to €84,983
of which Trade receivables: +€36,167
- Intangible fixed assets +€21,210
new in 2025: €21,210
- Cash -€14,619
down €14,619 (-15.8%), from €92,774 to €78,155
mainly Receivables within one year (-€37,874) and Investment in fixed assets (net) (-€26,057)
- Tangible fixed assets -€4,993
down €4,993 (-30.8%), from €16,227 to €11,234
- Financial fixed assets +€3,300
new in 2025: €3,300
- Other debts +€23,596
new in 2025: €23,596
- Tax, wage and social debts +€17,307
up €17,307 (+728.5%), from €2,376 to €19,683
- Trade debts +€5,739
up €5,739 (+4.2%), from €137,976 to €143,715
of which Suppliers: +€4,118
- Debts after one year -€4,502
down €4,502 (-45.1%), from €9,987 to €5,485
- Reserves +€2,173
up €2,173 (+82.9%), from €2,620 to €4,792
- Taxes -€4,166
down €4,166, from €3,213 to -€953
- Depreciation +€3,211
up €3,211 (+96.5%), from €3,329 to €6,539
- Gross operating margin +€1,715
up €1,715 (+21.6%), from €7,928 to €9,643
- Other operating charges +€683
up €683 (+144.6%), from €472 to €1,155
- Financial income +€580
up €580 (+224.0%), from €259 to €839
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 | €156,636 | €202,127 | +€45,491 | +29.0% |
| Fixed assets | 21/28 | €16,227 | €35,745 | +€19,517 | +120.3% |
| Intangible fixed assets | 21 | - | €21,210 | +€21,210 | |
| Tangible fixed assets | 22/27 | €16,227 | €11,234 | -€4,993 | -30.8% |
| Leasing and similar rights | 25 | €16,227 | €11,234 | -€4,993 | -30.8% |
| Financial fixed assets | 28 | - | €3,300 | +€3,300 | |
| Current assets | 29/58 | €140,409 | €166,382 | +€25,973 | +18.5% |
| Stocks and contracts in progress | 3 | - | €509 | +€509 | |
| Stocks | 30/36 | - | €509 | +€509 | |
| Amounts receivable within one year | 40/41 | €47,110 | €84,983 | +€37,874 | +80.4% |
| Trade receivables | 40 | €42,853 | €79,020 | +€36,167 | +84.4% |
| Other amounts receivable | 41 | €4,257 | €5,963 | +€1,707 | +40.1% |
| Cash at bank and in hand | 54/58 | €92,774 | €78,155 | -€14,619 | -15.8% |
| Deferred charges and accrued income | 490/1 | €526 | €2,734 | +€2,209 | +420.3% |
| Total equity and liabilities | 10/49 | €156,636 | €202,127 | +€45,491 | +29.0% |
| Equity | 10/15 | €3,620 | €5,792 | +€2,173 | +60.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €2,620 | €4,792 | +€2,173 | +82.9% |
| Distributable reserves | 133 | €2,620 | €4,792 | +€2,173 | +82.9% |
| Amounts payable | 17/49 | €153,017 | €196,335 | +€43,318 | +28.3% |
| Amounts payable after more than one year | 17 | €9,987 | €5,485 | -€4,502 | -45.1% |
| Financial debts | 170/4 | €9,987 | €5,485 | -€4,502 | -45.1% |
| Amounts payable within one year | 42/48 | €142,286 | €190,336 | +€48,050 | +33.8% |
| Current portion of amounts payable after more than one year | 42 | €1,934 | €3,342 | +€1,408 | +72.8% |
| Trade debts | 44 | €137,976 | €143,715 | +€5,739 | +4.2% |
| Suppliers | 440/4 | €137,976 | €142,094 | +€4,118 | +3.0% |
| Bills of exchange payable | 441 | - | €1,621 | +€1,621 | |
| Taxes, remuneration and social security | 45 | €2,376 | €19,683 | +€17,307 | +728.5% |
| Taxes | 450/3 | €2,376 | €19,683 | +€17,307 | +728.5% |
| Other amounts payable | 47/48 | - | €23,596 | +€23,596 | |
| Accrued charges and deferred income | 492/3 | €744 | €514 | -€230 | -30.9% |
| Non-recurring operating income | 76A | €2,400 | - | -€2,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,329 | €6,539 | +€3,211 | +96.5% |
| Other operating charges | 640/8 | €472 | €1,155 | +€683 | +144.6% |
| Gross operating margin | 9900 | €7,928 | €9,643 | +€1,715 | +21.6% |
| Operating profit (loss) | 9901 | €4,127 | €1,949 | -€2,178 | -52.8% |
| Financial income | 75/76B | €259 | €839 | +€580 | +224.0% |
| Recurring financial income | 75 | €259 | €839 | +€580 | +224.0% |
| Financial charges | 65/66B | €1,032 | €1,569 | +€536 | +51.9% |
| Recurring financial charges | 65 | €1,032 | €1,569 | +€536 | +51.9% |
| Profit (loss) for the period before taxes | 9903 | €3,354 | €1,219 | -€2,134 | -63.6% |
| Income taxes | 67/77 | €3,213 | -€953 | -€4,166 | |
| Profit (loss) for the period | 9904 | €141 | €2,173 | +€2,032 | +1443.3% |
| Profit (loss) for the period to be appropriated | 9905 | €141 | €2,173 | +€2,032 | +1443.3% |
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 6 October 2026 via checked.be.