BV MANAGEMENT: 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.
BV MANAGEMENT
Largest movements
- Receivables within one year +€47,362
up €47,362 (+35.1%), from €134,968 to €182,330
of which Trade receivables: +€47,079
- Stocks and contracts -€43,450
down €43,450 (-22.8%), from €190,551 to €147,101
- Tangible fixed assets -€37,058
down €37,058 (-6.1%), from €602,579 to €565,521
of which Land and buildings: -€32,597
- Cash +€29,790
up €29,790 (+111.5%), from €26,725 to €56,515
mainly Depreciation (+€43,504) and Stocks and contracts (+€43,450)
- Debts after one year -€47,774
down €47,774 (-18.6%), from €256,756 to €208,983
- Trade debts +€37,507
up €37,507 (+136.3%), from €27,511 to €65,018
- Reserves +€20,403
up €20,403 (+6.3%), from €325,287 to €345,690
- Tax, wage and social debts -€14,787
down €14,787 (-41.7%), from €35,463 to €20,677
of which Taxes: -€12,117
- Depreciation -€52,952
down €52,952 (-54.9%), from €96,456 to €43,504
- Gross operating margin +€17,621
up €17,621 (+15.1%), from €116,382 to €134,003
- Financial charges -€4,763
down €4,763 (-51.6%), from €9,226 to €4,463
- Staff costs +€4,276
up €4,276 (+7.9%), from €53,877 to €58,152
- Taxes +€2,064
up €2,064 (+3795.3%), from €54 to €2,119
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 | €1,056,314 | €1,052,653 | -€3,661 | -0.3% |
| Fixed assets | 21/28 | €702,796 | €665,595 | -€37,201 | -5.3% |
| Intangible fixed assets | 21 | €143 | €0 | -€143 | -100.0% |
| Tangible fixed assets | 22/27 | €602,579 | €565,521 | -€37,058 | -6.1% |
| Land and buildings | 22 | €591,344 | €558,747 | -€32,597 | -5.5% |
| Plant, machinery and equipment | 23 | €1,328 | €372 | -€956 | -72.0% |
| Furniture and vehicles | 24 | €9,908 | €6,403 | -€3,505 | -35.4% |
| Financial fixed assets | 28 | €100,073 | €100,073 | = | 0.0% |
| Current assets | 29/58 | €353,518 | €387,059 | +€33,541 | +9.5% |
| Stocks and contracts in progress | 3 | €190,551 | €147,101 | -€43,450 | -22.8% |
| Stocks | 30/36 | €190,551 | €147,101 | -€43,450 | -22.8% |
| Amounts receivable within one year | 40/41 | €134,968 | €182,330 | +€47,362 | +35.1% |
| Trade receivables | 40 | €3,463 | €50,543 | +€47,079 | +1359.3% |
| Other amounts receivable | 41 | €131,504 | €131,787 | +€283 | +0.2% |
| Cash at bank and in hand | 54/58 | €26,725 | €56,515 | +€29,790 | +111.5% |
| Deferred charges and accrued income | 490/1 | €1,274 | €1,113 | -€161 | -12.7% |
| Total equity and liabilities | 10/49 | €1,056,314 | €1,052,653 | -€3,661 | -0.3% |
| Equity | 10/15 | €678,283 | €698,686 | +€20,403 | +3.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €325,287 | €345,690 | +€20,403 | +6.3% |
| Distributable reserves | 133 | €325,287 | €345,690 | +€20,403 | +6.3% |
| Profit (loss) carried forward | 14 | €346,796 | €346,796 | = | 0.0% |
| Amounts payable | 17/49 | €378,031 | €353,967 | -€24,064 | -6.4% |
| Amounts payable after more than one year | 17 | €256,756 | €208,983 | -€47,774 | -18.6% |
| Financial debts | 170/4 | €256,756 | €208,983 | -€47,774 | -18.6% |
| Amounts payable within one year | 42/48 | €118,021 | €141,629 | +€23,608 | +20.0% |
| Current portion of amounts payable after more than one year | 42 | €46,590 | €47,774 | +€1,184 | +2.5% |
| Trade debts | 44 | €27,511 | €65,018 | +€37,507 | +136.3% |
| Suppliers | 440/4 | €27,511 | €65,018 | +€37,507 | +136.3% |
| Advances received on contracts in progress | 46 | €635 | €231 | -€405 | -63.7% |
| Taxes, remuneration and social security | 45 | €35,463 | €20,677 | -€14,787 | -41.7% |
| Taxes | 450/3 | €22,077 | €9,960 | -€12,117 | -54.9% |
| Remuneration and social security | 454/9 | €13,387 | €10,717 | -€2,669 | -19.9% |
| Other amounts payable | 47/48 | €7,822 | €7,930 | +€108 | +1.4% |
| Accrued charges and deferred income | 492/3 | €3,254 | €3,356 | +€102 | +3.1% |
| Non-recurring operating income | 76A | - | €500 | +€500 | |
| Remuneration, social security and pensions | 62 | €53,877 | €58,152 | +€4,276 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,456 | €43,504 | -€52,952 | -54.9% |
| Other operating charges | 640/8 | €8,089 | €8,186 | +€97 | +1.2% |
| Gross operating margin | 9900 | €116,382 | €134,003 | +€17,621 | +15.1% |
| Operating profit (loss) | 9901 | -€42,040 | €24,160 | +€66,200 | |
| Financial income | 75/76B | €3,752 | €2,824 | -€927 | -24.7% |
| Recurring financial income | 75 | €3,752 | €2,824 | -€927 | -24.7% |
| Financial charges | 65/66B | €9,226 | €4,463 | -€4,763 | -51.6% |
| Recurring financial charges | 65 | €9,226 | €4,463 | -€4,763 | -51.6% |
| Profit (loss) for the period before taxes | 9903 | -€47,514 | €22,522 | +€70,036 | |
| Income taxes | 67/77 | €54 | €2,119 | +€2,064 | +3795.3% |
| Profit (loss) for the period | 9904 | -€47,569 | €20,403 | +€67,972 | |
| Profit (loss) for the period to be appropriated | 9905 | -€47,569 | €20,403 | +€67,972 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.