BVDN Holding: 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.
BVDN Holding
Largest movements
- Receivables after one year +€2.2m
new in 2025: €2.2m
- Debts after one year +€2.2m
new in 2025: €2.2m
- Gross operating margin -€52,101
down €52,101, from €35,454 to -€16,647
- Financial income +€18,716
new in 2025: €18,716
- Taxes -€11,431
down €11,431 (-99.8%), from €11,452 to €21
- Other operating charges +€2,038
up €2,038 (+1,727%), from €118 to €2,156
- Financial charges -€1,248
down €1,248 (-82.3%), from €1,517 to €269
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 | €5,286,231 | €7,537,902 | +€2.3m | +42.6% |
| Fixed assets | 21/28 | €5,016,651 | €5,016,651 | = | 0.0% |
| Financial fixed assets | 28 | €5,016,651 | €5,016,651 | = | 0.0% |
| Current assets | 29/58 | €269,580 | €2,521,251 | +€2.3m | +835% |
| Amounts receivable after more than one year | 29 | - | €2,240,615 | +€2.2m | |
| Other amounts receivable | 291 | - | €2,240,615 | +€2.2m | |
| Amounts receivable within one year | 40/41 | €265,129 | €280,629 | +€15,500 | +5.8% |
| Other amounts receivable | 41 | €265,129 | €280,629 | +€15,500 | +5.8% |
| Cash at bank and in hand | 54/58 | €4,451 | €7 | -€4,444 | -99.8% |
| Total equity and liabilities | 10/49 | €5,286,231 | €7,537,902 | +€2.3m | +42.6% |
| Equity | 10/15 | €97,931 | €97,554 | -€377 | -0.4% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €85,431 | €85,431 | = | 0.0% |
| Distributable reserves | 133 | €85,431 | €85,431 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€377 | -€377 | |
| Amounts payable | 17/49 | €5,188,300 | €7,440,348 | +€2.3m | +43.4% |
| Amounts payable after more than one year | 17 | - | €2,242,615 | +€2.2m | |
| Other amounts payable | 178/9 | - | €2,242,615 | +€2.2m | |
| Amounts payable within one year | 42/48 | €5,188,300 | €5,195,233 | +€6,933 | +0.1% |
| Financial debts | 43 | €2,000 | €0 | -€2,000 | -100% |
| Other loans | 439 | €2,000 | €0 | -€2,000 | -100% |
| Trade debts | 44 | €1,081 | €846 | -€235 | -21.7% |
| Suppliers | 440/4 | €1,081 | €846 | -€235 | -21.7% |
| Taxes, remuneration and social security | 45 | €12,285 | €11,452 | -€832 | -6.8% |
| Taxes | 450/3 | €12,285 | €11,452 | -€832 | -6.8% |
| Other amounts payable | 47/48 | €5,172,934 | €5,182,934 | +€10,000 | +0.2% |
| Accrued charges and deferred income | 492/3 | - | €2,500 | +€2,500 | |
| Other operating charges | 640/8 | €118 | €2,156 | +€2,038 | +1,727% |
| Gross operating margin | 9900 | €35,454 | -€16,647 | -€52,101 | |
| Operating profit (loss) | 9901 | €35,336 | -€18,803 | -€54,139 | |
| Financial income | 75/76B | - | €18,716 | +€18,716 | |
| Recurring financial income | 75 | - | €18,716 | +€18,716 | |
| Financial charges | 65/66B | €1,517 | €269 | -€1,248 | -82.3% |
| Recurring financial charges | 65 | €1,517 | €269 | -€1,248 | -82.3% |
| Profit (loss) for the period before taxes | 9903 | €33,819 | -€356 | -€34,175 | |
| Income taxes | 67/77 | €11,452 | €21 | -€11,431 | -99.8% |
| Profit (loss) for the period | 9904 | €22,367 | -€377 | -€22,744 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,367 | -€377 | -€22,744 |
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 22 October 2026 via checked.be.