BvB Horses: 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.
BvB Horses
Largest movements
- Tangible fixed assets +€6,039
up €6,039 (+11.3%), from €53,635 to €59,674
of which Furniture and vehicles: +€8,897
- Stocks and contracts -€3,500
down €3,500 (-4.4%), from €79,500 to €76,000
- Cash +€3,327
up €3,327 (+7.1%), from €47,090 to €50,417
mainly Depreciation (+€12,461) and Stocks and contracts (+€3,500)
- Trade debts +€3,284
up €3,284 (+102.6%), from €3,200 to €6,484
- Reserves +€2,029
up €2,029 (+1.2%), from €163,120 to €165,149
- Gross operating margin +€2,360
up €2,360 (+15.9%), from €14,854 to €17,215
- Taxes +€891
up €891 (+323.1%), from €276 to €1,167
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 | €182,077 | €187,562 | +€5,486 | +3.0% |
| Fixed assets | 21/28 | €53,635 | €59,674 | +€6,039 | +11.3% |
| Tangible fixed assets | 22/27 | €53,635 | €59,674 | +€6,039 | +11.3% |
| Land and buildings | 22 | €45,220 | €42,361 | -€2,858 | -6.3% |
| Furniture and vehicles | 24 | €8,416 | €17,312 | +€8,897 | +105.7% |
| Current assets | 29/58 | €128,441 | €127,889 | -€553 | -0.4% |
| Stocks and contracts in progress | 3 | €79,500 | €76,000 | -€3,500 | -4.4% |
| Stocks | 30/36 | €79,500 | €76,000 | -€3,500 | -4.4% |
| Amounts receivable within one year | 40/41 | €139 | €67 | -€72 | -51.8% |
| Other amounts receivable | 41 | €139 | €67 | -€72 | -51.8% |
| Cash at bank and in hand | 54/58 | €47,090 | €50,417 | +€3,327 | +7.1% |
| Deferred charges and accrued income | 490/1 | €1,712 | €1,405 | -€307 | -17.9% |
| Total equity and liabilities | 10/49 | €182,077 | €187,562 | +€5,486 | +3.0% |
| Equity | 10/15 | €175,520 | €177,549 | +€2,029 | +1.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €163,120 | €165,149 | +€2,029 | +1.2% |
| Distributable reserves | 133 | €163,120 | €165,149 | +€2,029 | +1.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €6,557 | €10,014 | +€3,457 | +52.7% |
| Amounts payable within one year | 42/48 | €6,557 | €10,014 | +€3,457 | +52.7% |
| Trade debts | 44 | €3,200 | €6,484 | +€3,284 | +102.6% |
| Suppliers | 440/4 | €3,200 | €6,484 | +€3,284 | +102.6% |
| Taxes, remuneration and social security | 45 | €2,466 | €1,850 | -€616 | -25.0% |
| Taxes | 450/3 | €2,466 | €1,850 | -€616 | -25.0% |
| Other amounts payable | 47/48 | €891 | €1,680 | +€789 | +88.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,606 | €12,461 | -€145 | -1.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €709 | €730 | +€21 | +3.0% |
| Gross operating margin | 9900 | €14,854 | €17,215 | +€2,360 | +15.9% |
| Operating profit (loss) | 9901 | €1,539 | €4,023 | +€2,484 | +161.4% |
| Financial income | 75/76B | €241 | €182 | -€59 | -24.5% |
| Recurring financial income | 75 | €241 | €182 | -€59 | -24.5% |
| Financial charges | 65/66B | €135 | €150 | +€15 | +11.1% |
| Recurring financial charges | 65 | €135 | €150 | +€15 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €1,645 | €4,056 | +€2,410 | +146.5% |
| Income taxes | 67/77 | €276 | €1,167 | +€891 | +323.1% |
| Profit (loss) for the period | 9904 | €1,369 | €2,888 | +€1,519 | +110.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,369 | €2,888 | +€1,519 | +110.9% |
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 8 October 2026 via checked.be.