BvdM RISK MANAGEMENT: 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.
BvdM RISK MANAGEMENT
Largest movements
- Tangible fixed assets +€24,563
new in 2025: €24,563
- Cash -€1,546
down €1,546 (-29.6%), from €5,228 to €3,682
mainly Investment in fixed assets (net) (-€25,370) and Other debts (-€3,110)
- Debts after one year +€13,151
new in 2025: €13,151
- Current portion of long-term debt +€6,725
new in 2025: €6,725
- Other debts -€3,110
down €3,110 (-19.2%), from €16,196 to €13,086
- Profit (loss) carried forward +€2,990
up €2,990 (+25.8%), from -€11,594 to -€8,604
- Tax, wage and social debts +€2,240
up €2,240 (+987%), from €227 to €2,467
- Gross operating margin +€9,799
up €9,799, from -€1,339 to €8,460
- Taxes +€2,013
up €2,013 (+887%), from €227 to €2,240
- Other operating charges +€1,120
up €1,120 (+757%), from €148 to €1,268
- Depreciation +€807
new in 2025: €807
- Financial charges +€338
up €338 (+41.4%), from €817 to €1,155
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 | €5,329 | €28,443 | +€23,114 | +434% |
| Fixed assets | 21/28 | - | €24,563 | +€24,563 | |
| Tangible fixed assets | 22/27 | - | €24,563 | +€24,563 | |
| Furniture and vehicles | 24 | - | €24,563 | +€24,563 | |
| Current assets | 29/58 | €5,329 | €3,880 | -€1,449 | -27.2% |
| Cash at bank and in hand | 54/58 | €5,228 | €3,682 | -€1,546 | -29.6% |
| Deferred charges and accrued income | 490/1 | €101 | €198 | +€97 | +96.0% |
| Total equity and liabilities | 10/49 | €5,329 | €28,443 | +€23,114 | +434% |
| Equity | 10/15 | -€11,094 | -€8,104 | +€2,990 | +27.0% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,594 | -€8,604 | +€2,990 | +25.8% |
| Amounts payable | 17/49 | €16,423 | €36,547 | +€20,124 | +123% |
| Amounts payable after more than one year | 17 | - | €13,151 | +€13,151 | |
| Financial debts | 170/4 | - | €13,151 | +€13,151 | |
| Amounts payable within one year | 42/48 | €16,423 | €23,396 | +€6,973 | +42.5% |
| Current portion of amounts payable after more than one year | 42 | - | €6,725 | +€6,725 | |
| Trade debts | 44 | - | €1,118 | +€1,118 | |
| Suppliers | 440/4 | - | €1,118 | +€1,118 | |
| Taxes, remuneration and social security | 45 | €227 | €2,467 | +€2,240 | +987% |
| Taxes | 450/3 | €227 | €2,467 | +€2,240 | +987% |
| Other amounts payable | 47/48 | €16,196 | €13,086 | -€3,110 | -19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €807 | +€807 | |
| Other operating charges | 640/8 | €148 | €1,268 | +€1,120 | +757% |
| Gross operating margin | 9900 | -€1,339 | €8,460 | +€9,799 | |
| Operating profit (loss) | 9901 | -€1,487 | €6,385 | +€7,872 | |
| Financial charges | 65/66B | €817 | €1,155 | +€338 | +41.4% |
| Recurring financial charges | 65 | €817 | €1,155 | +€338 | +41.4% |
| Profit (loss) for the period before taxes | 9903 | -€2,304 | €5,230 | +€7,534 | |
| Income taxes | 67/77 | €227 | €2,240 | +€2,013 | +887% |
| Profit (loss) for the period | 9904 | -€2,531 | €2,990 | +€5,521 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,531 | €2,990 | +€5,521 |
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 28 October 2026 via checked.be.