BVD-GROEP: 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.
What changed
BVD-GROEP
NACE 47.110, Non-specialised retail sale with food, beverages or tobacco predominating
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€87,344
2025 · €114,905-€27,561
Equity
€556,921
2025 · €544,577+€12,344
Cash
€217,427
2025 · €210,697+€6,730
Balance sheet total
€849,162
2025 · €995,940-€146,778
Largest movements
Assets
- Receivables within one year -€63,256
down €63,256 (-22.6%), from €280,157 to €216,901
of which Trade receivables: -€69,700
- Current investments -€51,233
down €51,233 (-38.6%), from €132,642 to €81,409
- Tangible fixed assets -€38,143
down €38,143 (-10.3%), from €368,676 to €330,533
Equity and liabilities
- Other debts -€117,114
down €117,114 (-47.4%), from €247,290 to €130,176
- Trade debts -€24,869
down €24,869 (-40.7%), from €61,095 to €36,226
- Debts after one year -€20,418
no longer reported in 2026 (was €20,418)
- Profit (loss) carried forward +€17,028
up €17,028 (+12.8%), from €132,748 to €149,776
- Tax, wage and social debts +€11,308
up €11,308 (+17.2%), from €65,770 to €77,078
of which Taxes: +€17,102
Income statement
- Gross operating margin -€44,162
down €44,162 (-7.5%), from €590,060 to €545,898
- Staff costs -€15,599
down €15,599 (-4.4%), from €353,872 to €338,273
- Taxes +€9,493
up €9,493 (+22.9%), from €41,451 to €50,944
From the 2025 result to the 2026 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.
Result 2025
€114,905
Gross operating margin
-€44,162
Staff costs
+€15,599
Depreciation
+€5,213
Write-downs
+€1,381
Other operating charges
+€1,358
Other operating items
-€766
Financial income
-€1,080
Financial charges
+€4,465
Taxes
-€9,493
Deferred taxes and other
-€76
Result 2026
€87,344
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€72,511
Investment
+€36,000
Financing
-€101,781
Cash 2025
€210,697
From operations (derived)
+€72,511
Net result for the year
+€87,344
Depreciation
+€53,376
Receivables within one year
+€63,256
Deferred charges and accrued income
+€876
Provisions
-€1,962
Trade debts
-€24,869
Tax, wage and social debts
+€11,308
Other debts
-€117,114
Accrued charges and deferred income
+€296
Investment (derived)
+€36,000
Investment in fixed assets (net)
-€15,233
Current investments
+€51,233
Financing
-€101,781
Debts after one year
-€20,418
Current portion of long-term debt
-€6,363
Contributions, distributions and other
-€75,000
Cash 2026
€217,427
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €995,940 | €849,162 | -€146,778 | -14.7% |
| Fixed assets | 21/28 | €368,676 | €330,533 | -€38,143 | -10.3% |
| Tangible fixed assets | 22/27 | €368,676 | €330,533 | -€38,143 | -10.3% |
| Land and buildings | 22 | €259,095 | €243,425 | -€15,670 | -6.0% |
| Plant, machinery and equipment | 23 | €17,591 | €13,200 | -€4,391 | -25.0% |
| Furniture and vehicles | 24 | €91,990 | €73,908 | -€18,082 | -19.7% |
| Current assets | 29/58 | €627,264 | €518,629 | -€108,635 | -17.3% |
| Amounts receivable within one year | 40/41 | €280,157 | €216,901 | -€63,256 | -22.6% |
| Trade receivables | 40 | €273,018 | €203,318 | -€69,700 | -25.5% |
| Other amounts receivable | 41 | €7,139 | €13,583 | +€6,444 | +90.3% |
| Current investments | 50/53 | €132,642 | €81,409 | -€51,233 | -38.6% |
| Cash at bank and in hand | 54/58 | €210,697 | €217,427 | +€6,730 | +3.2% |
| Deferred charges and accrued income | 490/1 | €3,768 | €2,892 | -€876 | -23.2% |
| Total equity and liabilities | 10/49 | €995,940 | €849,162 | -€146,778 | -14.7% |
| Equity | 10/15 | €544,577 | €556,921 | +€12,344 | +2.3% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €336,829 | €332,145 | -€4,684 | -1.4% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €58,785 | €54,101 | -€4,684 | -8.0% |
| Distributable reserves | 133 | €270,544 | €270,544 | = | 0.0% |
| Profit (loss) carried forward | 14 | €132,748 | €149,776 | +€17,028 | +12.8% |
| Provisions and deferred taxes | 16 | €23,492 | €21,530 | -€1,962 | -8.4% |
| Deferred taxes | 168 | €23,492 | €21,530 | -€1,962 | -8.4% |
| Amounts payable | 17/49 | €427,871 | €270,711 | -€157,160 | -36.7% |
| Amounts payable after more than one year | 17 | €20,418 | - | -€20,418 | |
| Financial debts | 170/4 | €20,418 | - | -€20,418 | |
| Amounts payable within one year | 42/48 | €400,936 | €263,898 | -€137,038 | -34.2% |
| Current portion of amounts payable after more than one year | 42 | €26,781 | €20,418 | -€6,363 | -23.8% |
| Trade debts | 44 | €61,095 | €36,226 | -€24,869 | -40.7% |
| Suppliers | 440/4 | €61,095 | €36,226 | -€24,869 | -40.7% |
| Taxes, remuneration and social security | 45 | €65,770 | €77,078 | +€11,308 | +17.2% |
| Taxes | 450/3 | €22,413 | €39,515 | +€17,102 | +76.3% |
| Remuneration and social security | 454/9 | €43,357 | €37,563 | -€5,794 | -13.4% |
| Other amounts payable | 47/48 | €247,290 | €130,176 | -€117,114 | -47.4% |
| Accrued charges and deferred income | 492/3 | €6,517 | €6,813 | +€296 | +4.5% |
| Remuneration, social security and pensions | 62 | €353,872 | €338,273 | -€15,599 | -4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,589 | €53,376 | -€5,213 | -8.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,381 | - | -€1,381 | |
| Other operating charges | 640/8 | €15,563 | €14,205 | -€1,358 | -8.7% |
| Non-recurring operating charges | 66A | - | €766 | +€766 | |
| Gross operating margin | 9900 | €590,060 | €545,898 | -€44,162 | -7.5% |
| Operating profit (loss) | 9901 | €160,655 | €139,278 | -€21,377 | -13.3% |
| Financial income | 75/76B | €2,368 | €1,288 | -€1,080 | -45.6% |
| Recurring financial income | 75 | €2,368 | €1,288 | -€1,080 | -45.6% |
| Financial charges | 65/66B | €8,705 | €4,240 | -€4,465 | -51.3% |
| Recurring financial charges | 65 | €8,705 | €4,240 | -€4,465 | -51.3% |
| Profit (loss) for the period before taxes | 9903 | €154,318 | €136,326 | -€17,992 | -11.7% |
| Transfer from deferred taxes | 780 | €2,038 | €1,962 | -€76 | -3.7% |
| Income taxes | 67/77 | €41,451 | €50,944 | +€9,493 | +22.9% |
| Profit (loss) for the period | 9904 | €114,905 | €87,344 | -€27,561 | -24.0% |
| Transfer from tax-exempt reserves | 789 | €4,870 | €4,684 | -€186 | -3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €119,775 | €92,028 | -€27,747 | -23.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.