BVDS TECHNICS: 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.
BVDS TECHNICS
Largest movements
- Receivables within one year +€19,644
up €19,644 (+32.5%), from €60,505 to €80,149
of which Trade receivables: +€14,270
- Tangible fixed assets -€19,275
down €19,275 (-34.6%), from €55,775 to €36,500
of which Furniture and vehicles: -€17,144
- Cash -€8,067
down €8,067 (-10.8%), from €74,614 to €66,547
mainly Receivables within one year (-€19,644) and Debts after one year (-€13,514)
- Deferred charges and accrued income -€2,746
down €2,746 (-79.1%), from €3,472 to €725
- Trade debts +€18,161
up €18,161 (+51.4%), from €35,334 to €53,495
- Debts after one year -€13,514
down €13,514 (-45.6%), from €29,614 to €16,099
- Profit (loss) carried forward -€10,701
no longer reported in 2025 (was €10,701)
- Reserves +€9,588
up €9,588 (+14.6%), from €65,453 to €75,041
- Current portion of long-term debt -€7,411
down €7,411 (-35.4%), from €20,925 to €13,514
- Gross operating margin -€32,233
down €32,233 (-32.4%), from €99,550 to €67,317
- Staff costs -€15,378
down €15,378 (-27.8%), from €55,388 to €40,010
- Taxes -€5,303
down €5,303 (-67.5%), from €7,857 to €2,554
- Financial income -€2,436
down €2,436 (-100.0%), from €2,436 to €0
of which Non-recurring financial income: -€2,306
- Depreciation -€1,296
down €1,296 (-5.1%), from €25,493 to €24,197
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 | €217,967 | €207,277 | -€10,691 | -4.9% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €55,981 | €36,706 | -€19,275 | -34.4% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €55,775 | €36,500 | -€19,275 | -34.6% |
| Plant, machinery and equipment | 23 | €5,389 | €3,797 | -€1,592 | -29.5% |
| Furniture and vehicles | 24 | €49,384 | €32,241 | -€17,144 | -34.7% |
| Other tangible fixed assets | 26 | €1,002 | €463 | -€539 | -53.8% |
| Financial fixed assets | 28 | €206 | €206 | = | 0.0% |
| Current assets | 29/58 | €161,986 | €170,571 | +€8,585 | +5.3% |
| Stocks and contracts in progress | 3 | €23,396 | €23,150 | -€246 | -1.1% |
| Stocks | 30/36 | €23,396 | €23,150 | -€246 | -1.1% |
| Amounts receivable within one year | 40/41 | €60,505 | €80,149 | +€19,644 | +32.5% |
| Trade receivables | 40 | €58,589 | €72,858 | +€14,270 | +24.4% |
| Other amounts receivable | 41 | €1,916 | €7,291 | +€5,375 | +280.4% |
| Cash at bank and in hand | 54/58 | €74,614 | €66,547 | -€8,067 | -10.8% |
| Deferred charges and accrued income | 490/1 | €3,472 | €725 | -€2,746 | -79.1% |
| Total equity and liabilities | 10/49 | €217,967 | €207,277 | -€10,691 | -4.9% |
| Equity | 10/15 | €93,812 | €92,698 | -€1,114 | -1.2% |
| Contributions | 10/11 | €17,657 | €17,657 | = | 0.0% |
| Reserves | 13 | €65,453 | €75,041 | +€9,588 | +14.6% |
| Distributable reserves | 133 | €65,453 | €75,041 | +€9,588 | +14.6% |
| Profit (loss) carried forward | 14 | €10,701 | - | -€10,701 | |
| Amounts payable | 17/49 | €124,156 | €114,579 | -€9,577 | -7.7% |
| Amounts payable after more than one year | 17 | €29,614 | €16,099 | -€13,514 | -45.6% |
| Financial debts | 170/4 | €29,614 | €16,099 | -€13,514 | -45.6% |
| Amounts payable within one year | 42/48 | €94,542 | €98,479 | +€3,937 | +4.2% |
| Current portion of amounts payable after more than one year | 42 | €20,925 | €13,514 | -€7,411 | -35.4% |
| Financial debts | 43 | €2,952 | €2,967 | +€16 | +0.5% |
| Credit institutions | 430/8 | €2,952 | €2,967 | +€16 | +0.5% |
| Trade debts | 44 | €35,334 | €53,495 | +€18,161 | +51.4% |
| Suppliers | 440/4 | €35,334 | €53,495 | +€18,161 | +51.4% |
| Taxes, remuneration and social security | 45 | €35,331 | €28,503 | -€6,829 | -19.3% |
| Taxes | 450/3 | €18,135 | €18,221 | +€86 | +0.5% |
| Remuneration and social security | 454/9 | €17,197 | €10,282 | -€6,915 | -40.2% |
| Remuneration, social security and pensions | 62 | €55,388 | €40,010 | -€15,378 | -27.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,493 | €24,197 | -€1,296 | -5.1% |
| Other operating charges | 640/8 | €1,149 | €554 | -€596 | -51.8% |
| Non-recurring operating charges | 66A | €53 | - | -€53 | |
| Gross operating margin | 9900 | €99,550 | €67,317 | -€32,233 | -32.4% |
| Operating profit (loss) | 9901 | €17,467 | €2,557 | -€14,910 | -85.4% |
| Financial income | 75/76B | €2,436 | €0 | -€2,436 | -100.0% |
| Recurring financial income | 75 | €130 | €0 | -€130 | -99.9% |
| Non-recurring financial income | 76B | €2,306 | - | -€2,306 | |
| Financial charges | 65/66B | €1,462 | €1,117 | -€346 | -23.6% |
| Recurring financial charges | 65 | €1,462 | €1,117 | -€346 | -23.6% |
| Profit (loss) for the period before taxes | 9903 | €18,441 | €1,441 | -€17,000 | -92.2% |
| Income taxes | 67/77 | €7,857 | €2,554 | -€5,303 | -67.5% |
| Profit (loss) for the period | 9904 | €10,583 | -€1,114 | -€11,697 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,583 | -€1,114 | -€11,697 |
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 29 September 2026 via checked.be.