BVC INVEST: 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 INVEST
Largest movements
- Tangible fixed assets +€92,573
up €92,573 (+4,582%), from €2,021 to €94,593
of which Furniture and vehicles: +€92,994
- Financial fixed assets +€52,800
up €52,800 (+44.0%), from €120,000 to €172,800
- Cash +€27,303
up €27,303 (+34.2%), from €79,902 to €107,205
mainly Debts after one year (+€75,239) and Net result for the year (+€31,278)
- Receivables within one year -€16,262
down €16,262 (-74.5%), from €21,818 to €5,556
of which Other amounts receivable: -€18,578
- Current investments +€4,878
up €4,878 (+29.4%), from €16,586 to €21,464
- Debts after one year +€75,239
new in 2025: €75,239
- Profit (loss) carried forward +€31,278
up €31,278 (+24.4%), from €128,396 to €159,673
- Other debts +€28,536
up €28,536 (+28.3%), from €100,712 to €129,248
- Current portion of long-term debt +€19,658
new in 2025: €19,658
- Accrued charges and deferred income +€7,129
up €7,129 (+735%), from €970 to €8,099
- Financial income -€60,321
down €60,321 (-53.5%), from €112,800 to €52,479
- Depreciation +€9,193
up €9,193 (+794%), from €1,157 to €10,350
- Financial charges +€7,672
up €7,672 (+817%), from €940 to €8,612
- Gross operating margin +€2,498
up €2,498 (+58.5%), from -€4,267 to -€1,769
- Taxes +€70
new in 2025: €70
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 | €240,465 | €401,952 | +€161,487 | +67.2% |
| Fixed assets | 21/28 | €122,021 | €267,393 | +€145,373 | +119% |
| Tangible fixed assets | 22/27 | €2,021 | €94,593 | +€92,573 | +4,582% |
| Plant, machinery and equipment | 23 | €656 | €234 | -€421 | -64.3% |
| Furniture and vehicles | 24 | €1,365 | €94,359 | +€92,994 | +6,813% |
| Financial fixed assets | 28 | €120,000 | €172,800 | +€52,800 | +44.0% |
| Current assets | 29/58 | €118,444 | €134,558 | +€16,115 | +13.6% |
| Amounts receivable within one year | 40/41 | €21,818 | €5,556 | -€16,262 | -74.5% |
| Trade receivables | 40 | €2,867 | €5,183 | +€2,316 | +80.8% |
| Other amounts receivable | 41 | €18,951 | €373 | -€18,578 | -98.0% |
| Current investments | 50/53 | €16,586 | €21,464 | +€4,878 | +29.4% |
| Cash at bank and in hand | 54/58 | €79,902 | €107,205 | +€27,303 | +34.2% |
| Deferred charges and accrued income | 490/1 | €138 | €334 | +€196 | +142% |
| Total equity and liabilities | 10/49 | €240,465 | €401,952 | +€161,487 | +67.2% |
| Equity | 10/15 | €138,396 | €169,673 | +€31,278 | +22.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €128,396 | €159,673 | +€31,278 | +24.4% |
| Amounts payable | 17/49 | €102,069 | €232,278 | +€130,210 | +128% |
| Amounts payable after more than one year | 17 | - | €75,239 | +€75,239 | |
| Financial debts | 170/4 | - | €75,239 | +€75,239 | |
| Amounts payable within one year | 42/48 | €101,099 | €148,940 | +€47,842 | +47.3% |
| Current portion of amounts payable after more than one year | 42 | - | €19,658 | +€19,658 | |
| Trade debts | 44 | €387 | €35 | -€352 | -91.0% |
| Suppliers | 440/4 | €387 | €35 | -€352 | -91.0% |
| Other amounts payable | 47/48 | €100,712 | €129,248 | +€28,536 | +28.3% |
| Accrued charges and deferred income | 492/3 | €970 | €8,099 | +€7,129 | +735% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,157 | €10,350 | +€9,193 | +794% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€4,267 | -€1,769 | +€2,498 | +58.5% |
| Operating profit (loss) | 9901 | -€5,812 | -€12,519 | -€6,707 | -115% |
| Financial income | 75/76B | €112,800 | €52,479 | -€60,321 | -53.5% |
| Recurring financial income | 75 | €112,800 | €52,479 | -€60,321 | -53.5% |
| Financial charges | 65/66B | €940 | €8,612 | +€7,672 | +817% |
| Recurring financial charges | 65 | €940 | €8,612 | +€7,672 | +817% |
| Profit (loss) for the period before taxes | 9903 | €106,049 | €31,348 | -€74,700 | -70.4% |
| Income taxes | 67/77 | - | €70 | +€70 | |
| Profit (loss) for the period | 9904 | €106,049 | €31,278 | -€74,771 | -70.5% |
| Profit (loss) for the period to be appropriated | 9905 | €106,049 | €31,278 | -€74,771 | -70.5% |
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 26 October 2026 via checked.be.