BVDH: 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.
BVDH
Largest movements
- Receivables within one year +€261,446
up €261,446 (+346.2%), from €75,514 to €336,960
of which Other amounts receivable: +€241,057
- Cash +€183,278
up €183,278 (+350.8%), from €52,248 to €235,526
mainly Net result for the year (+€457,472) and Other debts (+€394,779)
- Tangible fixed assets +€25,118
up €25,118 (+14.7%), from €170,827 to €195,944
of which Furniture and vehicles: +€24,925
- Deferred charges and accrued income +€15,413
up €15,413 (+88.3%), from €17,455 to €32,868
- Other debts +€394,779
up €394,779 (+1156.9%), from €34,124 to €428,903
- Reserves +€68,872
up €68,872 (+14.1%), from €487,585 to €556,457
of which Distributable reserves: +€68,872
- Current portion of long-term debt +€14,627
up €14,627 (+70.8%), from €20,662 to €35,289
- Financial income +€457,354
up €457,354 (+4948.9%), from €9,242 to €466,596
- Financial charges +€55,487
up €55,487 (+847.5%), from €6,547 to €62,034
- Taxes +€38,920
up €38,920 (+147.9%), from €26,315 to €65,235
- Gross operating margin +€33,388
up €33,388 (+34.2%), from €97,750 to €131,139
- Depreciation -€24,708
down €24,708 (-69.4%), from €35,627 to €10,920
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 | €627,145 | €1,102,400 | +€475,255 | +75.8% |
| Fixed assets | 21/28 | €181,928 | €197,046 | +€15,118 | +8.3% |
| Tangible fixed assets | 22/27 | €170,827 | €195,944 | +€25,118 | +14.7% |
| Plant, machinery and equipment | 23 | €2,813 | €1,437 | -€1,376 | -48.9% |
| Furniture and vehicles | 24 | €45,744 | €70,668 | +€24,925 | +54.5% |
| Other tangible fixed assets | 26 | €122,270 | €121,068 | -€1,202 | -1.0% |
| Assets under construction and advance payments | 27 | - | €2,771 | +€2,771 | |
| Financial fixed assets | 28 | €11,102 | €1,102 | -€10,000 | -90.1% |
| Current assets | 29/58 | €445,217 | €905,354 | +€460,137 | +103.4% |
| Amounts receivable after more than one year | 29 | €300,000 | €300,000 | = | 0.0% |
| Other amounts receivable | 291 | €300,000 | €300,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €75,514 | €336,960 | +€261,446 | +346.2% |
| Trade receivables | 40 | €28,708 | €49,097 | +€20,389 | +71.0% |
| Other amounts receivable | 41 | €46,806 | €287,863 | +€241,057 | +515.0% |
| Cash at bank and in hand | 54/58 | €52,248 | €235,526 | +€183,278 | +350.8% |
| Deferred charges and accrued income | 490/1 | €17,455 | €32,868 | +€15,413 | +88.3% |
| Total equity and liabilities | 10/49 | €627,145 | €1,102,400 | +€475,255 | +75.8% |
| Equity | 10/15 | €494,088 | €562,657 | +€68,569 | +13.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €487,585 | €556,457 | +€68,872 | +14.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €485,725 | €554,597 | +€68,872 | +14.2% |
| Profit (loss) carried forward | 14 | €303 | €0 | -€303 | -100.0% |
| Amounts payable | 17/49 | €133,057 | €539,743 | +€406,687 | +305.6% |
| Amounts payable after more than one year | 17 | €34,333 | €41,412 | +€7,079 | +20.6% |
| Financial debts | 170/4 | €34,333 | €41,412 | +€7,079 | +20.6% |
| Amounts payable within one year | 42/48 | €97,124 | €496,731 | +€399,607 | +411.4% |
| Current portion of amounts payable after more than one year | 42 | €20,662 | €35,289 | +€14,627 | +70.8% |
| Financial debts | 43 | €17,124 | €17,039 | -€85 | -0.5% |
| Credit institutions | 430/8 | €17,124 | €17,039 | -€85 | -0.5% |
| Trade debts | 44 | €8,773 | €5,600 | -€3,173 | -36.2% |
| Suppliers | 440/4 | €8,773 | €5,600 | -€3,173 | -36.2% |
| Taxes, remuneration and social security | 45 | €16,441 | €9,900 | -€6,541 | -39.8% |
| Taxes | 450/3 | €16,441 | €9,900 | -€6,541 | -39.8% |
| Other amounts payable | 47/48 | €34,124 | €428,903 | +€394,779 | +1156.9% |
| Accrued charges and deferred income | 492/3 | €1,600 | €1,600 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,627 | €10,920 | -€24,708 | -69.4% |
| Other operating charges | 640/8 | €2,964 | €2,074 | -€890 | -30.0% |
| Gross operating margin | 9900 | €97,750 | €131,139 | +€33,388 | +34.2% |
| Operating profit (loss) | 9901 | €59,159 | €118,145 | +€58,986 | +99.7% |
| Financial income | 75/76B | €9,242 | €466,596 | +€457,354 | +4948.9% |
| Recurring financial income | 75 | €9,242 | €466,596 | +€457,354 | +4948.9% |
| Financial charges | 65/66B | €6,547 | €62,034 | +€55,487 | +847.5% |
| Recurring financial charges | 65 | €6,547 | €62,034 | +€55,487 | +847.5% |
| Profit (loss) for the period before taxes | 9903 | €61,853 | €522,707 | +€460,854 | +745.1% |
| Income taxes | 67/77 | €26,315 | €65,235 | +€38,920 | +147.9% |
| Profit (loss) for the period | 9904 | €35,538 | €457,472 | +€421,934 | +1187.3% |
| Profit (loss) for the period to be appropriated | 9905 | €35,538 | €457,472 | +€421,934 | +1187.3% |
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 30 September 2026 via checked.be.