BSVB: what changed
BSVB
Largest movements
- Current investments +€1.3m
up €1.3m (+278%), from €455,747 to €1.7m
- Cash -€1.1m
down €1.1m (-71.8%), from €1.5m to €427,417
mainly Current investments (-€1.3m) and Investment in fixed assets (net) (-€499,695)
- Tangible fixed assets +€767,211
up €767,211 (+204%), from €376,940 to €1.1m
of which Land and buildings: +€737,930
- Stocks and contracts -€536,324
down €536,324 (-39.1%), from €1.4m to €834,455
- Financial fixed assets -€282,029
down €282,029 (-96.6%), from €292,029 to €10,000
- Tax, wage and social debts -€194,725
down €194,725 (-94.8%), from €205,332 to €10,608
- Reserves +€106,058
up €106,058 (+3.3%), from €3.2m to €3.3m
- Trade debts +€89,404
up €89,404 (+77.6%), from €115,165 to €204,569
- Debts after one year -€78,034
down €78,034 (-26.0%), from €300,166 to €222,132
- Financial income -€1.1m
down €1.1m (-92.6%), from €1.2m to €90,644
of which Financial income: -€1.1m
- Gross operating margin -€144,980
down €144,980 (-44.6%), from €325,383 to €180,403
- Taxes -€126,827
down €126,827 (-76.6%), from €165,515 to €38,688
- Other operating charges -€83,452
down €83,452 (-88.7%), from €94,032 to €10,581
- Financial charges +€38,808
up €38,808 (+62.2%), from €62,400 to €101,208
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 | €4,345,446 | €4,264,711 | -€80,736 | -1.9% |
| Fixed assets | 21/28 | €668,969 | €1,154,151 | +€485,182 | +72.5% |
| Tangible fixed assets | 22/27 | €376,940 | €1,144,151 | +€767,211 | +204% |
| Land and buildings | 22 | €373,031 | €1,110,961 | +€737,930 | +198% |
| Furniture and vehicles | 24 | - | €28,713 | +€28,713 | |
| Other tangible fixed assets | 26 | €3,909 | €4,477 | +€568 | +14.5% |
| Financial fixed assets | 28 | €292,029 | €10,000 | -€282,029 | -96.6% |
| Current assets | 29/58 | €3,676,477 | €3,110,559 | -€565,918 | -15.4% |
| Stocks and contracts in progress | 3 | €1,370,779 | €834,455 | -€536,324 | -39.1% |
| Stocks | 30/36 | €1,370,779 | €834,455 | -€536,324 | -39.1% |
| Amounts receivable within one year | 40/41 | €319,982 | €95,016 | -€224,966 | -70.3% |
| Trade receivables | 40 | €250,881 | €34,958 | -€215,923 | -86.1% |
| Other amounts receivable | 41 | €69,101 | €60,058 | -€9,043 | -13.1% |
| Current investments | 50/53 | €455,747 | €1,724,263 | +€1.3m | +278% |
| Cash at bank and in hand | 54/58 | €1,516,031 | €427,417 | -€1.1m | -71.8% |
| Deferred charges and accrued income | 490/1 | €13,938 | €29,408 | +€15,470 | +111% |
| Total equity and liabilities | 10/49 | €4,345,446 | €4,264,711 | -€80,736 | -1.9% |
| Equity | 10/15 | €3,643,311 | €3,749,368 | +€106,058 | +2.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €3,173,550 | €3,279,608 | +€106,058 | +3.3% |
| Distributable reserves | 133 | €3,173,550 | €3,279,608 | +€106,058 | +3.3% |
| Profit (loss) carried forward | 14 | €463,561 | €463,561 | = | 0.0% |
| Amounts payable | 17/49 | €702,136 | €515,342 | -€186,793 | -26.6% |
| Amounts payable after more than one year | 17 | €300,166 | €222,132 | -€78,034 | -26.0% |
| Financial debts | 170/4 | €300,166 | €222,132 | -€78,034 | -26.0% |
| Amounts payable within one year | 42/48 | €401,970 | €293,210 | -€108,760 | -27.1% |
| Current portion of amounts payable after more than one year | 42 | €81,473 | €78,034 | -€3,439 | -4.2% |
| Trade debts | 44 | €115,165 | €204,569 | +€89,404 | +77.6% |
| Suppliers | 440/4 | €115,165 | €204,569 | +€89,404 | +77.6% |
| Taxes, remuneration and social security | 45 | €205,332 | €10,608 | -€194,725 | -94.8% |
| Taxes | 450/3 | €205,332 | €10,608 | -€194,725 | -94.8% |
| Remuneration, social security and pensions | 62 | €431 | - | -€431 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,823 | €14,513 | +€8,690 | +149% |
| Other operating charges | 640/8 | €94,032 | €10,581 | -€83,452 | -88.7% |
| Gross operating margin | 9900 | €325,383 | €180,403 | -€144,980 | -44.6% |
| Operating profit (loss) | 9901 | €225,096 | €155,310 | -€69,787 | -31.0% |
| Financial income | 75/76B | €1,227,468 | €90,644 | -€1.1m | -92.6% |
| Recurring financial income | 75 | €1,227,468 | €79,061 | -€1.1m | -93.6% |
| Non-recurring financial income | 76B | - | €11,582 | +€11,582 | |
| Financial charges | 65/66B | €62,400 | €101,208 | +€38,808 | +62.2% |
| Recurring financial charges | 65 | €62,400 | €101,208 | +€38,808 | +62.2% |
| Profit (loss) for the period before taxes | 9903 | €1,390,165 | €144,746 | -€1.2m | -89.6% |
| Income taxes | 67/77 | €165,515 | €38,688 | -€126,827 | -76.6% |
| Profit (loss) for the period | 9904 | €1,224,650 | €106,058 | -€1.1m | -91.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,224,650 | €106,058 | -€1.1m | -91.3% |
Next steps
Calculation and sources
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 8 November 2026 via checked.be.