BVC DEVELOPMENT: 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.
BVC DEVELOPMENT
Largest movements
- Cash -€58,339
down €58,339 (-64.0%), from €91,207 to €32,868
mainly Net result for the year (-€53,776) and Debts after one year (-€7,831)
- Tangible fixed assets -€9,082
down €9,082 (-34.9%), from €26,029 to €16,947
- Receivables within one year -€3,145
down €3,145 (-25.1%), from €12,544 to €9,400
of which Trade receivables: -€3,240
- Profit (loss) carried forward -€53,776
down €53,776 (-52.7%), from €101,949 to €48,173
- Debts after one year -€7,831
down €7,831 (-51.5%), from €15,201 to €7,370
- Tax, wage and social debts -€7,678
down €7,678 (-88.7%), from €8,657 to €979
of which Taxes: -€7,853
- Gross operating margin -€83,254
down €83,254, from €44,931 to -€38,323
- Financial charges -€59,372
down €59,372 (-96.3%), from €61,626 to €2,254
- Other operating charges -€8,618
down €8,618 (-66.6%), from €12,932 to €4,314
- Financial income +€898
up €898 (+145.6%), from €617 to €1,515
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 | €234,655 | €164,389 | -€70,266 | -29.9% |
| Fixed assets | 21/28 | €26,029 | €16,947 | -€9,082 | -34.9% |
| Tangible fixed assets | 22/27 | €26,029 | €16,947 | -€9,082 | -34.9% |
| Furniture and vehicles | 24 | €26,029 | €16,947 | -€9,082 | -34.9% |
| Current assets | 29/58 | €208,625 | €147,442 | -€61,184 | -29.3% |
| Amounts receivable within one year | 40/41 | €12,544 | €9,400 | -€3,145 | -25.1% |
| Trade receivables | 40 | €12,544 | €9,305 | -€3,240 | -25.8% |
| Other amounts receivable | 41 | - | €95 | +€95 | |
| Current investments | 50/53 | €100,224 | €101,284 | +€1,060 | +1.1% |
| Cash at bank and in hand | 54/58 | €91,207 | €32,868 | -€58,339 | -64.0% |
| Deferred charges and accrued income | 490/1 | €4,650 | €3,890 | -€761 | -16.4% |
| Total equity and liabilities | 10/49 | €234,655 | €164,389 | -€70,266 | -29.9% |
| Equity | 10/15 | €148,272 | €94,496 | -€53,776 | -36.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €40,123 | €40,123 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,300 | €19,300 | = | 0.0% |
| Distributable reserves | 133 | €20,823 | €20,823 | = | 0.0% |
| Profit (loss) carried forward | 14 | €101,949 | €48,173 | -€53,776 | -52.7% |
| Amounts payable | 17/49 | €86,383 | €69,893 | -€16,490 | -19.1% |
| Amounts payable after more than one year | 17 | €15,201 | €7,370 | -€7,831 | -51.5% |
| Financial debts | 170/4 | €15,201 | €7,370 | -€7,831 | -51.5% |
| Amounts payable within one year | 42/48 | €70,947 | €61,115 | -€9,832 | -13.9% |
| Current portion of amounts payable after more than one year | 42 | €7,619 | €7,831 | +€212 | +2.8% |
| Trade debts | 44 | €4,004 | €1,939 | -€2,065 | -51.6% |
| Suppliers | 440/4 | €4,004 | €1,939 | -€2,065 | -51.6% |
| Taxes, remuneration and social security | 45 | €8,657 | €979 | -€7,678 | -88.7% |
| Taxes | 450/3 | €8,657 | €804 | -€7,853 | -90.7% |
| Remuneration and social security | 454/9 | - | €174 | +€174 | |
| Other amounts payable | 47/48 | €50,667 | €50,367 | -€301 | -0.6% |
| Accrued charges and deferred income | 492/3 | €236 | €1,408 | +€1,172 | +497.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,998 | €10,040 | +€42 | +0.4% |
| Other operating charges | 640/8 | €12,932 | €4,314 | -€8,618 | -66.6% |
| Gross operating margin | 9900 | €44,931 | -€38,323 | -€83,254 | |
| Operating profit (loss) | 9901 | €22,000 | -€52,677 | -€74,678 | |
| Financial income | 75/76B | €617 | €1,515 | +€898 | +145.6% |
| Recurring financial income | 75 | €617 | €1,515 | +€898 | +145.6% |
| Financial charges | 65/66B | €61,626 | €2,254 | -€59,372 | -96.3% |
| Recurring financial charges | 65 | €61,626 | €2,254 | -€59,372 | -96.3% |
| Profit (loss) for the period before taxes | 9903 | -€39,008 | -€53,416 | -€14,408 | -36.9% |
| Income taxes | 67/77 | €332 | €360 | +€28 | +8.5% |
| Profit (loss) for the period | 9904 | -€39,340 | -€53,776 | -€14,436 | -36.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,340 | -€53,776 | -€14,436 | -36.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.