BQV Partners: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
BQV Partners
Largest movements
- Receivables within one year +€260,544
up €260,544 (+226%), from €115,113 to €375,657
of which Trade receivables: +€241,842
- Financial fixed assets +€190,835
up €190,835 (+15,267%), from €1,250 to €192,085
- Cash +€144,800
up €144,800 (+169%), from €85,458 to €230,258
mainly Net result for the year (+€387,965) and Trade debts (+€231,541)
- Tangible fixed assets +€37,234
new in 2025: €37,234
- Profit (loss) carried forward +€387,965
up €387,965 (+92.8%), from -€418,034 to -€30,069
- Trade debts +€231,541
up €231,541 (+52.0%), from €444,926 to €676,467
- Advances received -€30,576
down €30,576 (-100%), from €30,576 to €0
- Debts after one year +€24,594
new in 2025: €24,594
- Current portion of long-term debt +€8,999
new in 2025: €8,999
- Gross operating margin +€862,046
up €862,046, from -€413,685 to €448,361
- Staff costs +€38,031
new in 2025: €38,031
- Financial charges +€12,383
up €12,383 (+194%), from €6,388 to €18,771
- Depreciation +€4,688
new in 2025: €4,688
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €210,832 | €839,559 | +€628,727 | +298% |
| Fixed assets | 21/28 | €1,250 | €229,318 | +€228,068 | +18,245% |
| Tangible fixed assets | 22/27 | - | €37,234 | +€37,234 | |
| Furniture and vehicles | 24 | - | €37,234 | +€37,234 | |
| Financial fixed assets | 28 | €1,250 | €192,085 | +€190,835 | +15,267% |
| Current assets | 29/58 | €209,582 | €610,241 | +€400,659 | +191% |
| Amounts receivable within one year | 40/41 | €115,113 | €375,657 | +€260,544 | +226% |
| Trade receivables | 40 | €9,910 | €251,752 | +€241,842 | +2,440% |
| Other amounts receivable | 41 | €105,203 | €123,905 | +€18,702 | +17.8% |
| Cash at bank and in hand | 54/58 | €85,458 | €230,258 | +€144,800 | +169% |
| Deferred charges and accrued income | 490/1 | €9,011 | €4,325 | -€4,686 | -52.0% |
| Total equity and liabilities | 10/49 | €210,832 | €839,559 | +€628,727 | +298% |
| Equity | 10/15 | -€268,034 | €119,931 | +€387,965 | |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€418,034 | -€30,069 | +€387,965 | +92.8% |
| Amounts payable | 17/49 | €478,866 | €719,628 | +€240,762 | +50.3% |
| Amounts payable after more than one year | 17 | - | €24,594 | +€24,594 | |
| Financial debts | 170/4 | - | €24,594 | +€24,594 | |
| Amounts payable within one year | 42/48 | €478,866 | €695,034 | +€216,168 | +45.1% |
| Current portion of amounts payable after more than one year | 42 | - | €8,999 | +€8,999 | |
| Trade debts | 44 | €444,926 | €676,467 | +€231,541 | +52.0% |
| Suppliers | 440/4 | €444,926 | €676,467 | +€231,541 | +52.0% |
| Advances received on contracts in progress | 46 | €30,576 | €0 | -€30,576 | -100% |
| Taxes, remuneration and social security | 45 | - | €6,608 | +€6,608 | |
| Taxes | 450/3 | - | €2,618 | +€2,618 | |
| Remuneration and social security | 454/9 | - | €3,990 | +€3,990 | |
| Other amounts payable | 47/48 | €3,364 | €2,959 | -€405 | -12.0% |
| Remuneration, social security and pensions | 62 | - | €38,031 | +€38,031 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €4,688 | +€4,688 | |
| Other operating charges | 640/8 | - | €62 | +€62 | |
| Gross operating margin | 9900 | -€413,685 | €448,361 | +€862,046 | |
| Operating profit (loss) | 9901 | -€413,685 | €405,580 | +€819,265 | |
| Financial income | 75/76B | €2,039 | €3,399 | +€1,360 | +66.7% |
| Recurring financial income | 75 | €2,039 | €3,399 | +€1,360 | +66.7% |
| Financial charges | 65/66B | €6,388 | €18,771 | +€12,383 | +194% |
| Recurring financial charges | 65 | €6,388 | €18,771 | +€12,383 | +194% |
| Profit (loss) for the period before taxes | 9903 | -€418,034 | €390,209 | +€808,243 | |
| Income taxes | 67/77 | - | €2,244 | +€2,244 | |
| Profit (loss) for the period | 9904 | -€418,034 | €387,965 | +€805,999 | |
| Profit (loss) for the period to be appropriated | 9905 | -€418,034 | €387,965 | +€805,999 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.