BVB LAW: 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 LAW
Largest movements
- Receivables within one year -€87,151
down €87,151 (-88.7%), from €98,238 to €11,087
of which Other amounts receivable: -€82,459
- Current investments +€16,390
up €16,390 (+8.2%), from €200,421 to €216,810
- Cash +€15,252
up €15,252 (+22.3%), from €68,305 to €83,556
mainly Receivables within one year (+€87,151) and Net result for the year (+€67,292)
- Tangible fixed assets -€12,486
down €12,486 (-5.6%), from €222,170 to €209,684
of which Furniture and vehicles: -€7,990
- Debts after one year -€96,516
down €96,516 (-47.6%), from €202,708 to €106,192
- Reserves +€50,000
up €50,000 (+20.4%), from €245,259 to €295,259
- Tax, wage and social debts -€30,200
down €30,200 (-80.5%), from €37,500 to €7,300
of which Taxes: -€24,200
- Profit (loss) carried forward +€17,292
up €17,292 (+185.3%), from €9,330 to €26,622
- Gross operating margin -€27,207
down €27,207 (-19.7%), from €138,200 to €110,993
- Other operating charges -€10,663
down €10,663 (-76.8%), from €13,876 to €3,213
- Financial charges -€5,516
down €5,516 (-70.7%), from €7,801 to €2,285
- Taxes -€2,536
down €2,536 (-9.2%), from €27,500 to €24,964
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 | €591,353 | €524,964 | -€66,389 | -11.2% |
| Fixed assets | 21/28 | €222,170 | €209,684 | -€12,486 | -5.6% |
| Tangible fixed assets | 22/27 | €222,170 | €209,684 | -€12,486 | -5.6% |
| Land and buildings | 22 | €191,789 | €187,971 | -€3,818 | -2.0% |
| Plant, machinery and equipment | 23 | €1,875 | €678 | -€1,197 | -63.9% |
| Furniture and vehicles | 24 | €28,507 | €20,517 | -€7,990 | -28.0% |
| Other tangible fixed assets | 26 | - | €519 | +€519 | |
| Current assets | 29/58 | €369,183 | €315,280 | -€53,903 | -14.6% |
| Amounts receivable within one year | 40/41 | €98,238 | €11,087 | -€87,151 | -88.7% |
| Trade receivables | 40 | €15,411 | €10,719 | -€4,692 | -30.4% |
| Other amounts receivable | 41 | €82,828 | €368 | -€82,459 | -99.6% |
| Current investments | 50/53 | €200,421 | €216,810 | +€16,390 | +8.2% |
| Cash at bank and in hand | 54/58 | €68,305 | €83,556 | +€15,252 | +22.3% |
| Deferred charges and accrued income | 490/1 | €2,219 | €3,826 | +€1,607 | +72.4% |
| Total equity and liabilities | 10/49 | €591,353 | €524,964 | -€66,389 | -11.2% |
| Equity | 10/15 | €273,189 | €340,482 | +€67,292 | +24.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €245,259 | €295,259 | +€50,000 | +20.4% |
| Distributable reserves | 133 | €245,259 | €295,259 | +€50,000 | +20.4% |
| Profit (loss) carried forward | 14 | €9,330 | €26,622 | +€17,292 | +185.3% |
| Amounts payable | 17/49 | €318,164 | €184,482 | -€133,681 | -42.0% |
| Amounts payable after more than one year | 17 | €202,708 | €106,192 | -€96,516 | -47.6% |
| Financial debts | 170/4 | €202,708 | €106,192 | -€96,516 | -47.6% |
| Amounts payable within one year | 42/48 | €115,455 | €78,068 | -€37,388 | -32.4% |
| Current portion of amounts payable after more than one year | 42 | €20,150 | €15,473 | -€4,677 | -23.2% |
| Trade debts | 44 | €3,218 | €3,098 | -€119 | -3.7% |
| Suppliers | 440/4 | €3,218 | €3,098 | -€119 | -3.7% |
| Taxes, remuneration and social security | 45 | €37,500 | €7,300 | -€30,200 | -80.5% |
| Taxes | 450/3 | €31,500 | €7,300 | -€24,200 | -76.8% |
| Remuneration and social security | 454/9 | €6,000 | - | -€6,000 | |
| Other amounts payable | 47/48 | €54,588 | €52,196 | -€2,392 | -4.4% |
| Accrued charges and deferred income | 492/3 | - | €222 | +€222 | |
| Remuneration, social security and pensions | 62 | €916 | - | -€916 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,108 | €15,095 | -€13 | -0.1% |
| Other operating charges | 640/8 | €13,876 | €3,213 | -€10,663 | -76.8% |
| Gross operating margin | 9900 | €138,200 | €110,993 | -€27,207 | -19.7% |
| Operating profit (loss) | 9901 | €108,300 | €92,685 | -€15,615 | -14.4% |
| Financial income | 75/76B | €1,331 | €1,857 | +€526 | +39.5% |
| Recurring financial income | 75 | €1,331 | €1,857 | +€526 | +39.5% |
| Financial charges | 65/66B | €7,801 | €2,285 | -€5,516 | -70.7% |
| Recurring financial charges | 65 | €7,801 | €2,285 | -€5,516 | -70.7% |
| Profit (loss) for the period before taxes | 9903 | €101,830 | €92,256 | -€9,574 | -9.4% |
| Income taxes | 67/77 | €27,500 | €24,964 | -€2,536 | -9.2% |
| Profit (loss) for the period | 9904 | €74,330 | €67,292 | -€7,038 | -9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €74,330 | €67,292 | -€7,038 | -9.5% |
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.