BVDL: 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.
BVDL
Largest movements
- Receivables after one year +€225,611
new in 2025: €225,611
- Cash -€202,007
down €202,007 (-39.7%), from €508,800 to €306,793
mainly Receivables after one year (-€225,611) and Debts after one year (-€21,713)
- Tangible fixed assets -€28,488
down €28,488 (-4.8%), from €597,898 to €569,411
of which Land and buildings: -€18,407
- Debts after one year -€21,713
down €21,713 (-4.5%), from €478,202 to €456,489
of which Financial debts: -€21,788
- Gross operating margin -€225,266
down €225,266 (-81.6%), from €275,910 to €50,644
- Taxes -€71,859
down €71,859 (-95.9%), from €74,904 to €3,045
- Financial income +€5,509
up €5,509 (+676.7%), from €814 to €6,323
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 | €1,190,315 | €1,174,424 | -€15,891 | -1.3% |
| Fixed assets | 21/28 | €597,898 | €569,411 | -€28,488 | -4.8% |
| Tangible fixed assets | 22/27 | €597,898 | €569,411 | -€28,488 | -4.8% |
| Land and buildings | 22 | €569,696 | €551,288 | -€18,407 | -3.2% |
| Furniture and vehicles | 24 | €28,203 | €18,122 | -€10,080 | -35.7% |
| Current assets | 29/58 | €592,417 | €605,014 | +€12,597 | +2.1% |
| Amounts receivable after more than one year | 29 | - | €225,611 | +€225,611 | |
| Other amounts receivable | 291 | - | €225,611 | +€225,611 | |
| Amounts receivable within one year | 40/41 | €82,720 | €72,139 | -€10,581 | -12.8% |
| Trade receivables | 40 | €55,749 | €33,011 | -€22,738 | -40.8% |
| Other amounts receivable | 41 | €26,971 | €39,128 | +€12,157 | +45.1% |
| Cash at bank and in hand | 54/58 | €508,800 | €306,793 | -€202,007 | -39.7% |
| Deferred charges and accrued income | 490/1 | €897 | €470 | -€427 | -47.6% |
| Total equity and liabilities | 10/49 | €1,190,315 | €1,174,424 | -€15,891 | -1.3% |
| Equity | 10/15 | €677,055 | €681,946 | +€4,891 | +0.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €668,000 | €668,000 | = | 0.0% |
| Distributable reserves | 133 | €668,000 | €668,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,555 | €11,446 | +€4,891 | +74.6% |
| Amounts payable | 17/49 | €513,260 | €492,479 | -€20,782 | -4.0% |
| Amounts payable after more than one year | 17 | €478,202 | €456,489 | -€21,713 | -4.5% |
| Financial debts | 170/4 | €476,652 | €454,864 | -€21,788 | -4.6% |
| Other amounts payable | 178/9 | €1,550 | €1,625 | +€75 | +4.8% |
| Amounts payable within one year | 42/48 | €33,030 | €35,990 | +€2,960 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €21,415 | €24,847 | +€3,432 | +16.0% |
| Trade debts | 44 | €3,018 | €2,546 | -€472 | -15.7% |
| Suppliers | 440/4 | €3,018 | €2,546 | -€472 | -15.7% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €8,597 | €8,597 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,028 | €0 | -€2,028 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,734 | €28,488 | +€2,754 | +10.7% |
| Other operating charges | 640/8 | €2,070 | €3,985 | +€1,915 | +92.5% |
| Gross operating margin | 9900 | €275,910 | €50,644 | -€225,266 | -81.6% |
| Operating profit (loss) | 9901 | €248,107 | €18,172 | -€229,935 | -92.7% |
| Financial income | 75/76B | €814 | €6,323 | +€5,509 | +676.7% |
| Recurring financial income | 75 | €814 | €6,323 | +€5,509 | +676.7% |
| Financial charges | 65/66B | €18,833 | €16,560 | -€2,273 | -12.1% |
| Recurring financial charges | 65 | €18,833 | €16,560 | -€2,273 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €230,088 | €7,935 | -€222,153 | -96.6% |
| Income taxes | 67/77 | €74,904 | €3,045 | -€71,859 | -95.9% |
| Profit (loss) for the period | 9904 | €155,184 | €4,891 | -€150,293 | -96.8% |
| Profit (loss) for the period to be appropriated | 9905 | €155,184 | €4,891 | -€150,293 | -96.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.