BVH ELEK: 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.
BVH ELEK
Largest movements
- Receivables within one year -€28,696
down €28,696 (-29.5%), from €97,212 to €68,516
of which Trade receivables: -€25,085
- Tangible fixed assets +€22,283
up €22,283 (+39.8%), from €55,955 to €78,238
of which Furniture and vehicles: +€30,122
- Stocks and contracts +€7,463
up €7,463 (+9.2%), from €80,987 to €88,451
- Cash -€3,674
down €3,674 (-6.3%), from €58,524 to €54,850
mainly Investment in fixed assets (net) (-€47,757) and Debts after one year (-€27,590)
- Debts after one year -€27,590
down €27,590 (-36.2%), from €76,197 to €48,607
- Trade debts +€24,608
up €24,608 (+29.8%), from €82,664 to €107,272
- Staff costs +€43,128
up €43,128 (+51.6%), from €83,515 to €126,643
- Gross operating margin +€42,517
up €42,517 (+34.8%), from €122,186 to €164,702
- Depreciation -€2,098
down €2,098 (-7.0%), from €29,765 to €27,667
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 | €303,865 | €301,215 | -€2,650 | -0.9% |
| Formation expenses | 20 | €766 | €574 | -€192 | -25.0% |
| Fixed assets | 21/28 | €65,024 | €85,306 | +€20,282 | +31.2% |
| Intangible fixed assets | 21 | €9,068 | €7,068 | -€2,000 | -22.1% |
| Tangible fixed assets | 22/27 | €55,955 | €78,238 | +€22,283 | +39.8% |
| Plant, machinery and equipment | 23 | €22,383 | €14,545 | -€7,838 | -35.0% |
| Furniture and vehicles | 24 | €33,572 | €63,693 | +€30,122 | +89.7% |
| Financial fixed assets | 28 | €1 | - | -€1 | |
| Current assets | 29/58 | €238,076 | €215,336 | -€22,740 | -9.6% |
| Stocks and contracts in progress | 3 | €80,987 | €88,451 | +€7,463 | +9.2% |
| Stocks | 30/36 | €80,987 | €88,451 | +€7,463 | +9.2% |
| Amounts receivable within one year | 40/41 | €97,212 | €68,516 | -€28,696 | -29.5% |
| Trade receivables | 40 | €58,806 | €33,722 | -€25,085 | -42.7% |
| Other amounts receivable | 41 | €38,405 | €34,794 | -€3,611 | -9.4% |
| Cash at bank and in hand | 54/58 | €58,524 | €54,850 | -€3,674 | -6.3% |
| Deferred charges and accrued income | 490/1 | €1,353 | €3,519 | +€2,167 | +160% |
| Total equity and liabilities | 10/49 | €303,865 | €301,215 | -€2,650 | -0.9% |
| Equity | 10/15 | €10,209 | €10,541 | +€332 | +3.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €209 | €541 | +€332 | +159% |
| Distributable reserves | 133 | €209 | €541 | +€332 | +159% |
| Amounts payable | 17/49 | €293,656 | €290,675 | -€2,981 | -1.0% |
| Amounts payable after more than one year | 17 | €76,197 | €48,607 | -€27,590 | -36.2% |
| Financial debts | 170/4 | €76,197 | €48,607 | -€27,590 | -36.2% |
| Amounts payable within one year | 42/48 | €217,459 | €242,067 | +€24,608 | +11.3% |
| Current portion of amounts payable after more than one year | 42 | €26,325 | €27,498 | +€1,173 | +4.5% |
| Trade debts | 44 | €82,664 | €107,272 | +€24,608 | +29.8% |
| Suppliers | 440/4 | €82,664 | €107,272 | +€24,608 | +29.8% |
| Taxes, remuneration and social security | 45 | €9,213 | €10,430 | +€1,217 | +13.2% |
| Taxes | 450/3 | €1,842 | €2,342 | +€500 | +27.1% |
| Remuneration and social security | 454/9 | €7,371 | €8,088 | +€717 | +9.7% |
| Other amounts payable | 47/48 | €99,258 | €96,867 | -€2,390 | -2.4% |
| Remuneration, social security and pensions | 62 | €83,515 | €126,643 | +€43,128 | +51.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,765 | €27,667 | -€2,098 | -7.0% |
| Other operating charges | 640/8 | €1,318 | €2,360 | +€1,042 | +79.0% |
| Gross operating margin | 9900 | €122,186 | €164,702 | +€42,517 | +34.8% |
| Operating profit (loss) | 9901 | €7,587 | €8,032 | +€445 | +5.9% |
| Financial income | 75/76B | €1 | €34 | +€33 | +6,152% |
| Recurring financial income | 75 | €1 | €34 | +€33 | +6,152% |
| Financial charges | 65/66B | €6,052 | €6,898 | +€846 | +14.0% |
| Recurring financial charges | 65 | €6,052 | €6,898 | +€846 | +14.0% |
| Profit (loss) for the period before taxes | 9903 | €1,536 | €1,169 | -€367 | -23.9% |
| Income taxes | 67/77 | €1,505 | €837 | -€669 | -44.4% |
| Profit (loss) for the period | 9904 | €31 | €332 | +€301 | +977% |
| Profit (loss) for the period to be appropriated | 9905 | €31 | €332 | +€301 | +977% |
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 24 October 2026 via checked.be.