BUVAN: 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.
BUVAN
Largest movements
- Tangible fixed assets +€33,278
up €33,278 (+213%), from €15,592 to €48,870
of which Furniture and vehicles: +€33,824
- Receivables within one year +€27,675
up €27,675 (+60.2%), from €45,992 to €73,668
of which Trade receivables: +€17,214
- Profit (loss) carried forward +€38,553
up €38,553 (+79.9%), from -€48,251 to -€9,697
- Debts after one year +€18,498
up €18,498 (+1,270%), from €1,456 to €19,954
- Trade debts +€5,147
up €5,147 (+21.8%), from €23,573 to €28,720
- Other debts -€3,700
down €3,700 (-10.8%), from €34,181 to €30,481
- Current portion of long-term debt +€2,583
up €2,583 (+59.8%), from €4,320 to €6,903
- Gross operating margin +€9,322
up €9,322 (+19.6%), from €47,661 to €56,983
- Taxes +€8,962
up €8,962 (+19,048%), from €47 to €9,009
- Depreciation -€2,148
down €2,148 (-19.5%), from €11,024 to €8,875
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €142,912 | €203,944 | +€61,032 | +42.7% |
| Fixed assets | 21/28 | €15,592 | €48,870 | +€33,278 | +213% |
| Tangible fixed assets | 22/27 | €15,592 | €48,870 | +€33,278 | +213% |
| Plant, machinery and equipment | 23 | €1,006 | €459 | -€546 | -54.3% |
| Furniture and vehicles | 24 | €14,587 | €48,411 | +€33,824 | +232% |
| Current assets | 29/58 | €127,320 | €155,073 | +€27,754 | +21.8% |
| Amounts receivable within one year | 40/41 | €45,992 | €73,668 | +€27,675 | +60.2% |
| Trade receivables | 40 | €45,897 | €63,111 | +€17,214 | +37.5% |
| Other amounts receivable | 41 | €95 | €10,557 | +€10,462 | +10,980% |
| Cash at bank and in hand | 54/58 | €79,565 | €79,642 | +€77 | +0.1% |
| Deferred charges and accrued income | 490/1 | €1,762 | €1,763 | +€1 | +0.1% |
| Total equity and liabilities | 10/49 | €142,912 | €203,944 | +€61,032 | +42.7% |
| Equity | 10/15 | €79,333 | €117,886 | +€38,553 | +48.6% |
| Contributions | 10/11 | €127,583 | €127,583 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,251 | -€9,697 | +€38,553 | +79.9% |
| Amounts payable | 17/49 | €63,579 | €86,058 | +€22,478 | +35.4% |
| Amounts payable after more than one year | 17 | €1,456 | €19,954 | +€18,498 | +1,270% |
| Financial debts | 170/4 | €1,456 | €19,954 | +€18,498 | +1,270% |
| Amounts payable within one year | 42/48 | €62,123 | €66,104 | +€3,981 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €4,320 | €6,903 | +€2,583 | +59.8% |
| Trade debts | 44 | €23,573 | €28,720 | +€5,147 | +21.8% |
| Suppliers | 440/4 | €23,573 | €28,720 | +€5,147 | +21.8% |
| Taxes, remuneration and social security | 45 | €50 | - | -€50 | |
| Taxes | 450/3 | €50 | - | -€50 | |
| Other amounts payable | 47/48 | €34,181 | €30,481 | -€3,700 | -10.8% |
| Non-recurring operating income | 76A | - | €7,148 | +€7,148 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,024 | €8,875 | -€2,148 | -19.5% |
| Other operating charges | 640/8 | €394 | €317 | -€77 | -19.5% |
| Gross operating margin | 9900 | €47,661 | €56,983 | +€9,322 | +19.6% |
| Operating profit (loss) | 9901 | €36,243 | €47,791 | +€11,548 | +31.9% |
| Financial income | 75/76B | €215 | €635 | +€419 | +194% |
| Recurring financial income | 75 | €215 | €635 | +€419 | +194% |
| Financial charges | 65/66B | €305 | €863 | +€557 | +183% |
| Recurring financial charges | 65 | €305 | €863 | +€557 | +183% |
| Profit (loss) for the period before taxes | 9903 | €36,154 | €47,563 | +€11,409 | +31.6% |
| Income taxes | 67/77 | €47 | €9,009 | +€8,962 | +19,048% |
| Profit (loss) for the period | 9904 | €36,107 | €38,553 | +€2,447 | +6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €36,107 | €38,553 | +€2,447 | +6.8% |
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 17 October 2026 via checked.be.