BVH: 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.
BVH
Largest movements
- Current investments -€153,625
down €153,625 (-72.2%), from €212,658 to €59,033
- Cash -€132,443
down €132,443 (-46.4%), from €285,398 to €152,955
mainly Other debts (-€418,878) and Contributions, distributions and other (-€381,980)
- Receivables within one year -€89,000
down €89,000 (-34.5%), from €257,785 to €168,785
of which Other amounts receivable: -€89,000
- Tangible fixed assets -€14,746
down €14,746 (-4.0%), from €367,591 to €352,844
of which Land and buildings: -€8,792
- Other debts -€418,878
down €418,878 (-67.3%), from €622,133 to €203,255
- Debts after one year +€184,091
up €184,091 (+100.0%), from €184,012 to €368,102
- Reserves -€158,436
down €158,436 (-56.2%), from €281,980 to €123,544
- Financial income +€107,951
up €107,951 (+2166.7%), from €4,982 to €112,933
- Taxes +€33,876
up €33,876 (+93.8%), from €36,124 to €70,000
- Gross operating margin +€31,255
up €31,255 (+13.1%), from €238,115 to €269,370
- Staff costs +€8,586
up €8,586 (+16.5%), from €51,885 to €60,472
- Depreciation -€3,304
down €3,304 (-12.1%), from €27,314 to €24,010
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 | €1,130,339 | €735,420 | -€394,919 | -34.9% |
| Fixed assets | 21/28 | €374,498 | €354,647 | -€19,851 | -5.3% |
| Intangible fixed assets | 21 | €6,908 | €1,803 | -€5,104 | -73.9% |
| Tangible fixed assets | 22/27 | €367,591 | €352,844 | -€14,746 | -4.0% |
| Land and buildings | 22 | €328,915 | €320,123 | -€8,792 | -2.7% |
| Furniture and vehicles | 24 | €38,676 | €32,721 | -€5,955 | -15.4% |
| Current assets | 29/58 | €755,841 | €380,773 | -€375,068 | -49.6% |
| Amounts receivable within one year | 40/41 | €257,785 | €168,785 | -€89,000 | -34.5% |
| Trade receivables | 40 | €24,200 | €24,200 | = | 0.0% |
| Other amounts receivable | 41 | €233,585 | €144,585 | -€89,000 | -38.1% |
| Current investments | 50/53 | €212,658 | €59,033 | -€153,625 | -72.2% |
| Cash at bank and in hand | 54/58 | €285,398 | €152,955 | -€132,443 | -46.4% |
| Total equity and liabilities | 10/49 | €1,130,339 | €735,420 | -€394,919 | -34.9% |
| Equity | 10/15 | €286,845 | €128,409 | -€158,436 | -55.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €281,980 | €123,544 | -€158,436 | -56.2% |
| Distributable reserves | 133 | €281,980 | €123,544 | -€158,436 | -56.2% |
| Profit (loss) carried forward | 14 | €1,865 | €1,865 | = | 0.0% |
| Amounts payable | 17/49 | €843,494 | €607,011 | -€236,483 | -28.0% |
| Amounts payable after more than one year | 17 | €184,012 | €368,102 | +€184,091 | +100.0% |
| Financial debts | 170/4 | €184,012 | €368,102 | +€184,091 | +100.0% |
| Amounts payable within one year | 42/48 | €659,482 | €238,909 | -€420,573 | -63.8% |
| Current portion of amounts payable after more than one year | 42 | €15,649 | €15,909 | +€260 | +1.7% |
| Trade debts | 44 | - | €1,390 | +€1,390 | |
| Suppliers | 440/4 | - | €1,390 | +€1,390 | |
| Taxes, remuneration and social security | 45 | €21,700 | €18,354 | -€3,346 | -15.4% |
| Taxes | 450/3 | €21,700 | €18,354 | -€3,346 | -15.4% |
| Other amounts payable | 47/48 | €622,133 | €203,255 | -€418,878 | -67.3% |
| Remuneration, social security and pensions | 62 | €51,885 | €60,472 | +€8,586 | +16.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,314 | €24,010 | -€3,304 | -12.1% |
| Other operating charges | 640/8 | €2,304 | €1,061 | -€1,243 | -54.0% |
| Gross operating margin | 9900 | €238,115 | €269,370 | +€31,255 | +13.1% |
| Operating profit (loss) | 9901 | €156,612 | €183,827 | +€27,216 | +17.4% |
| Financial income | 75/76B | €4,982 | €112,933 | +€107,951 | +2166.7% |
| Recurring financial income | 75 | €4,982 | €112,933 | +€107,951 | +2166.7% |
| Financial charges | 65/66B | €3,476 | €3,217 | -€259 | -7.5% |
| Recurring financial charges | 65 | €3,476 | €3,217 | -€259 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | €158,118 | €293,544 | +€135,425 | +85.6% |
| Income taxes | 67/77 | €36,124 | €70,000 | +€33,876 | +93.8% |
| Profit (loss) for the period | 9904 | €121,994 | €223,544 | +€101,550 | +83.2% |
| Profit (loss) for the period to be appropriated | 9905 | €121,994 | €223,544 | +€101,550 | +83.2% |
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 3 October 2026 via checked.be.