bVd Construct: 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.
bVd Construct
Largest movements
- Stocks and contracts -€374,563
down €374,563 (-55.6%), from €673,378 to €298,815
- Receivables within one year -€37,381
down €37,381 (-44.6%), from €83,724 to €46,344
of which Other amounts receivable: -€37,381
- Cash +€23,138
up €23,138 (+285%), from €8,112 to €31,250
mainly Stocks and contracts (+€374,563) and Receivables within one year (+€37,381)
- Short-term financial debts -€425,794
down €425,794 (-79.5%), from €535,750 to €109,957
- Profit (loss) carried forward +€23,162
up €23,162, from -€23,162 to €0
- Gross operating margin +€44,821
up €44,821, from -€2,063 to €42,758
- Other operating charges -€1,752
down €1,752 (-77.3%), from €2,266 to €513
- Financial income -€1,148
down €1,148 (-80.8%), from €1,419 to €272
- Financial charges +€560
up €560 (+3.8%), from €14,867 to €15,428
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 | €765,214 | €376,409 | -€388,805 | -50.8% |
| Fixed assets | 21/28 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €765,214 | €376,409 | -€388,805 | -50.8% |
| Stocks and contracts in progress | 3 | €673,378 | €298,815 | -€374,563 | -55.6% |
| Stocks | 30/36 | €673,378 | €298,815 | -€374,563 | -55.6% |
| Amounts receivable within one year | 40/41 | €83,724 | €46,344 | -€37,381 | -44.6% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €83,724 | €46,344 | -€37,381 | -44.6% |
| Cash at bank and in hand | 54/58 | €8,112 | €31,250 | +€23,138 | +285% |
| Total equity and liabilities | 10/49 | €765,214 | €376,409 | -€388,805 | -50.8% |
| Equity | 10/15 | €1,838 | €28,865 | +€27,027 | +1,470% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | - | €3,865 | +€3,865 | |
| Distributable reserves | 133 | - | €3,865 | +€3,865 | |
| Profit (loss) carried forward | 14 | -€23,162 | €0 | +€23,162 | |
| Amounts payable | 17/49 | €763,376 | €347,544 | -€415,832 | -54.5% |
| Amounts payable within one year | 42/48 | €763,376 | €347,544 | -€415,832 | -54.5% |
| Financial debts | 43 | €535,750 | €109,957 | -€425,794 | -79.5% |
| Credit institutions | 430/8 | €535,750 | €109,957 | -€425,794 | -79.5% |
| Trade debts | 44 | €1,634 | €888 | -€746 | -45.7% |
| Suppliers | 440/4 | €1,634 | €888 | -€746 | -45.7% |
| Taxes, remuneration and social security | 45 | €132 | €6,518 | +€6,386 | +4,845% |
| Taxes | 450/3 | €132 | €6,518 | +€6,386 | +4,845% |
| Other amounts payable | 47/48 | €225,860 | €230,182 | +€4,322 | +1.9% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Other operating charges | 640/8 | €2,266 | €513 | -€1,752 | -77.3% |
| Gross operating margin | 9900 | -€2,063 | €42,758 | +€44,821 | |
| Operating profit (loss) | 9901 | -€4,329 | €42,244 | +€46,573 | |
| Financial income | 75/76B | €1,419 | €272 | -€1,148 | -80.8% |
| Recurring financial income | 75 | €1,419 | €272 | -€1,148 | -80.8% |
| Financial charges | 65/66B | €14,867 | €15,428 | +€560 | +3.8% |
| Recurring financial charges | 65 | €14,867 | €15,428 | +€560 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | -€17,777 | €27,088 | +€44,865 | |
| Income taxes | 67/77 | - | €61 | +€61 | |
| Profit (loss) for the period | 9904 | -€17,777 | €27,027 | +€44,804 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,777 | €27,027 | +€44,804 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.