BUVE - VAN ROY: 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.
BUVE - VAN ROY
Largest movements
- Stocks and contracts +€44,693
up €44,693 (+9.8%), from €456,411 to €501,104
- Tangible fixed assets -€12,868
down €12,868 (-10.1%), from €127,029 to €114,161
of which Land and buildings: -€10,426
- Receivables within one year -€11,569
down €11,569 (-55.2%), from €20,957 to €9,387
of which Other amounts receivable: -€5,906
- Deferred charges and accrued income -€10,000
no longer reported in 2025 (was €10,000)
- Reserves +€28,532
up €28,532 (+23.2%), from €123,149 to €151,680
- Debts after one year -€15,216
down €15,216 (-8.7%), from €175,057 to €159,840
of which Financial debts: -€12,118
- Gross operating margin +€12,871
up €12,871 (+16.3%), from €78,720 to €91,591
- Write-downs +€5,151
new in 2025: €5,151
- Financial charges +€4,032
up €4,032 (+46.5%), from €8,667 to €12,699
of which Financial charges: +€3,970
- Depreciation +€4,003
up €4,003 (+23.6%), from €16,949 to €20,952
- Taxes -€1,197
down €1,197 (-6.8%), from €17,561 to €16,363
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 | €763,169 | €773,154 | +€9,985 | +1.3% |
| Fixed assets | 21/28 | €131,611 | €120,249 | -€11,361 | -8.6% |
| Tangible fixed assets | 22/27 | €127,029 | €114,161 | -€12,868 | -10.1% |
| Land and buildings | 22 | €95,310 | €84,883 | -€10,426 | -10.9% |
| Plant, machinery and equipment | 23 | €865 | €5,893 | +€5,028 | +581.0% |
| Furniture and vehicles | 24 | €30,854 | €23,384 | -€7,470 | -24.2% |
| Financial fixed assets | 28 | €4,582 | €6,088 | +€1,507 | +32.9% |
| Current assets | 29/58 | €631,559 | €652,905 | +€21,347 | +3.4% |
| Stocks and contracts in progress | 3 | €456,411 | €501,104 | +€44,693 | +9.8% |
| Stocks | 30/36 | €456,411 | €501,104 | +€44,693 | +9.8% |
| Amounts receivable within one year | 40/41 | €20,957 | €9,387 | -€11,569 | -55.2% |
| Trade receivables | 40 | €11,406 | €5,743 | -€5,663 | -49.7% |
| Other amounts receivable | 41 | €9,551 | €3,645 | -€5,906 | -61.8% |
| Cash at bank and in hand | 54/58 | €144,191 | €142,414 | -€1,777 | -1.2% |
| Deferred charges and accrued income | 490/1 | €10,000 | - | -€10,000 | |
| Total equity and liabilities | 10/49 | €763,169 | €773,154 | +€9,985 | +1.3% |
| Equity | 10/15 | €486,888 | €515,420 | +€28,532 | +5.9% |
| Contributions | 10/11 | €218,146 | €218,146 | = | 0.0% |
| Reserves | 13 | €123,149 | €151,680 | +€28,532 | +23.2% |
| Distributable reserves | 133 | €123,149 | €151,680 | +€28,532 | +23.2% |
| Profit (loss) carried forward | 14 | €145,593 | €145,593 | = | 0.0% |
| Amounts payable | 17/49 | €276,281 | €257,735 | -€18,546 | -6.7% |
| Amounts payable after more than one year | 17 | €175,057 | €159,840 | -€15,216 | -8.7% |
| Financial debts | 170/4 | €16,331 | €4,213 | -€12,118 | -74.2% |
| Other amounts payable | 178/9 | €158,725 | €155,627 | -€3,098 | -2.0% |
| Amounts payable within one year | 42/48 | €101,225 | €97,895 | -€3,330 | -3.3% |
| Current portion of amounts payable after more than one year | 42 | €15,572 | €12,118 | -€3,453 | -22.2% |
| Trade debts | 44 | €61,433 | €63,716 | +€2,283 | +3.7% |
| Suppliers | 440/4 | €61,433 | €63,716 | +€2,283 | +3.7% |
| Advances received on contracts in progress | 46 | - | €229 | +€229 | |
| Taxes, remuneration and social security | 45 | €19,134 | €21,831 | +€2,697 | +14.1% |
| Taxes | 450/3 | €19,134 | €21,831 | +€2,697 | +14.1% |
| Other amounts payable | 47/48 | €5,086 | - | -€5,086 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,949 | €20,952 | +€4,003 | +23.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,151 | +€5,151 | |
| Other operating charges | 640/8 | €9,364 | €8,696 | -€668 | -7.1% |
| Gross operating margin | 9900 | €78,720 | €91,591 | +€12,871 | +16.3% |
| Operating profit (loss) | 9901 | €52,407 | €56,791 | +€4,385 | +8.4% |
| Financial income | 75/76B | €499 | €803 | +€304 | +61.0% |
| Recurring financial income | 75 | €499 | €803 | +€304 | +61.0% |
| Financial charges | 65/66B | €8,667 | €12,699 | +€4,032 | +46.5% |
| Recurring financial charges | 65 | €8,419 | €12,389 | +€3,970 | +47.2% |
| Non-recurring financial charges | 66B | €248 | €310 | +€62 | +25.1% |
| Profit (loss) for the period before taxes | 9903 | €44,238 | €44,895 | +€657 | +1.5% |
| Income taxes | 67/77 | €17,561 | €16,363 | -€1,197 | -6.8% |
| Profit (loss) for the period | 9904 | €26,678 | €28,532 | +€1,854 | +6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,678 | €28,532 | +€1,854 | +6.9% |
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 4 October 2026 via checked.be.