BVC: 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.
BVC
Largest movements
- Cash +€6,936
up €6,936 (+220%), from €3,146 to €10,082
mainly Net result for the year (+€12,625) and Trade debts (+€12,335)
- Tangible fixed assets -€6,294
down €6,294 (-67.0%), from €9,389 to €3,095
- Receivables within one year -€4,857
down €4,857 (-32.5%), from €14,923 to €10,066
of which Trade receivables: -€9,091
- Other debts -€18,002
down €18,002 (-10.1%), from €178,588 to €160,586
- Profit (loss) carried forward +€12,625
up €12,625 (+16.5%), from -€76,559 to -€63,934
- Trade debts +€12,335
up €12,335 (+453%), from €2,723 to €15,057
- Tax, wage and social debts -€5,894
down €5,894 (-93.2%), from €6,327 to €432
- Current portion of long-term debt -€5,278
no longer reported in 2025 (was €5,278)
- Gross operating margin +€45,311
up €45,311, from -€24,704 to €20,606
- Financial charges -€2,168
down €2,168 (-86.6%), from €2,504 to €336
- Depreciation -€1,708
down €1,708 (-21.3%), from €8,002 to €6,294
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 | €147,458 | €143,243 | -€4,215 | -2.9% |
| Fixed assets | 21/28 | €79,389 | €73,095 | -€6,294 | -7.9% |
| Tangible fixed assets | 22/27 | €9,389 | €3,095 | -€6,294 | -67.0% |
| Furniture and vehicles | 24 | €9,389 | €3,095 | -€6,294 | -67.0% |
| Financial fixed assets | 28 | €70,000 | €70,000 | = | 0.0% |
| Current assets | 29/58 | €68,069 | €70,148 | +€2,079 | +3.1% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,923 | €10,066 | -€4,857 | -32.5% |
| Trade receivables | 40 | €14,774 | €5,683 | -€9,091 | -61.5% |
| Other amounts receivable | 41 | €150 | €4,383 | +€4,234 | +2,826% |
| Cash at bank and in hand | 54/58 | €3,146 | €10,082 | +€6,936 | +220% |
| Total equity and liabilities | 10/49 | €147,458 | €143,243 | -€4,215 | -2.9% |
| Equity | 10/15 | -€45,457 | -€32,833 | +€12,625 | +27.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €30,101 | €30,101 | = | 0.0% |
| Distributable reserves | 133 | €30,101 | €30,101 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€76,559 | -€63,934 | +€12,625 | +16.5% |
| Amounts payable | 17/49 | €192,916 | €176,076 | -€16,840 | -8.7% |
| Amounts payable within one year | 42/48 | €192,916 | €176,076 | -€16,840 | -8.7% |
| Current portion of amounts payable after more than one year | 42 | €5,278 | - | -€5,278 | |
| Trade debts | 44 | €2,723 | €15,057 | +€12,335 | +453% |
| Suppliers | 440/4 | €2,723 | €15,057 | +€12,335 | +453% |
| Taxes, remuneration and social security | 45 | €6,327 | €432 | -€5,894 | -93.2% |
| Taxes | 450/3 | €6,327 | €432 | -€5,894 | -93.2% |
| Other amounts payable | 47/48 | €178,588 | €160,586 | -€18,002 | -10.1% |
| Non-recurring operating income | 76A | - | €10,249 | +€10,249 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,002 | €6,294 | -€1,708 | -21.3% |
| Other operating charges | 640/8 | €950 | €920 | -€30 | -3.2% |
| Non-recurring operating charges | 66A | €22,669 | - | -€22,669 | |
| Gross operating margin | 9900 | -€24,704 | €20,606 | +€45,311 | |
| Operating profit (loss) | 9901 | -€56,326 | €13,393 | +€69,719 | |
| Financial income | 75/76B | €17 | €1 | -€16 | -95.2% |
| Recurring financial income | 75 | €17 | €1 | -€16 | -95.2% |
| Financial charges | 65/66B | €2,504 | €336 | -€2,168 | -86.6% |
| Recurring financial charges | 65 | €2,504 | €336 | -€2,168 | -86.6% |
| Profit (loss) for the period before taxes | 9903 | -€58,814 | €13,057 | +€71,871 | |
| Income taxes | 67/77 | €245 | €432 | +€187 | +76.5% |
| Profit (loss) for the period | 9904 | -€59,059 | €12,625 | +€71,683 | |
| Profit (loss) for the period to be appropriated | 9905 | -€59,059 | €12,625 | +€71,683 |
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 18 October 2026 via checked.be.