BVH Immo: 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 Immo
Largest movements
- Cash -€569,078
down €569,078 (-92.3%), from €616,676 to €47,598
mainly Debts after one year (-€622,093) and Other debts (-€399,012)
- Tangible fixed assets -€348,838
down €348,838 (-2.9%), from €12.0m to €11.7m
of which Land and buildings: -€404,547
- Debts after one year -€622,093
down €622,093 (-6.9%), from €9.1m to €8.4m
- Other debts -€399,012
down €399,012 (-20.6%), from €1.9m to €1.5m
- Reserves +€141,479
up €141,479 (+16.9%), from €834,913 to €976,392
of which Distributable reserves: +€141,479
- Gross operating margin -€158,346
down €158,346 (-12.9%), from €1.2m to €1.1m
- Taxes -€64,824
down €64,824 (-65.0%), from €99,657 to €34,833
- Financial charges -€16,135
down €16,135 (-4.2%), from €379,687 to €363,552
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 | €13,175,406 | €12,237,845 | -€937,560 | -7.1% |
| Fixed assets | 21/28 | €12,033,361 | €11,684,523 | -€348,838 | -2.9% |
| Tangible fixed assets | 22/27 | €12,033,361 | €11,684,523 | -€348,838 | -2.9% |
| Land and buildings | 22 | €12,029,206 | €11,624,659 | -€404,547 | -3.4% |
| Plant, machinery and equipment | 23 | €4,155 | €10,804 | +€6,649 | +160% |
| Assets under construction and advance payments | 27 | - | €49,060 | +€49,060 | |
| Current assets | 29/58 | €1,142,045 | €553,322 | -€588,723 | -51.5% |
| Amounts receivable within one year | 40/41 | €520,786 | €499,101 | -€21,685 | -4.2% |
| Trade receivables | 40 | €457,223 | €432,660 | -€24,563 | -5.4% |
| Other amounts receivable | 41 | €63,564 | €66,441 | +€2,877 | +4.5% |
| Cash at bank and in hand | 54/58 | €616,676 | €47,598 | -€569,078 | -92.3% |
| Deferred charges and accrued income | 490/1 | €4,583 | €6,624 | +€2,041 | +44.5% |
| Total equity and liabilities | 10/49 | €13,175,406 | €12,237,845 | -€937,560 | -7.1% |
| Equity | 10/15 | €1,316,618 | €1,439,053 | +€122,435 | +9.3% |
| Contributions | 10/11 | €29,687 | €29,687 | = | 0.0% |
| Revaluation surpluses | 12 | €452,017 | €432,974 | -€19,044 | -4.2% |
| Reserves | 13 | €834,913 | €976,392 | +€141,479 | +16.9% |
| Tax-exempt reserves | 132 | €3,977 | €3,977 | = | 0.0% |
| Distributable reserves | 133 | €830,936 | €972,415 | +€141,479 | +17.0% |
| Amounts payable | 17/49 | €11,858,788 | €10,798,792 | -€1.1m | -8.9% |
| Amounts payable after more than one year | 17 | €9,068,701 | €8,446,608 | -€622,093 | -6.9% |
| Financial debts | 170/4 | €9,068,701 | €8,446,608 | -€622,093 | -6.9% |
| Amounts payable within one year | 42/48 | €2,770,241 | €2,352,185 | -€418,057 | -15.1% |
| Current portion of amounts payable after more than one year | 42 | €628,719 | €663,814 | +€35,094 | +5.6% |
| Financial debts | 43 | €11,772 | €20,534 | +€8,762 | +74.4% |
| Credit institutions | 430/8 | €11,772 | €20,534 | +€8,762 | +74.4% |
| Trade debts | 44 | €26,213 | €42,943 | +€16,730 | +63.8% |
| Suppliers | 440/4 | €26,213 | €42,943 | +€16,730 | +63.8% |
| Taxes, remuneration and social security | 45 | €169,030 | €89,399 | -€79,632 | -47.1% |
| Taxes | 450/3 | €169,030 | €89,399 | -€79,632 | -47.1% |
| Other amounts payable | 47/48 | €1,934,507 | €1,535,495 | -€399,012 | -20.6% |
| Accrued charges and deferred income | 492/3 | €19,846 | - | -€19,846 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €469,094 | €466,442 | -€2,652 | -0.6% |
| Other operating charges | 640/8 | €78,708 | €86,639 | +€7,931 | +10.1% |
| Gross operating margin | 9900 | €1,230,147 | €1,071,800 | -€158,346 | -12.9% |
| Operating profit (loss) | 9901 | €682,344 | €518,719 | -€163,625 | -24.0% |
| Financial income | 75/76B | €13,342 | €2,100 | -€11,241 | -84.3% |
| Recurring financial income | 75 | €13,342 | €2,100 | -€11,241 | -84.3% |
| Financial charges | 65/66B | €379,687 | €363,552 | -€16,135 | -4.2% |
| Recurring financial charges | 65 | €379,687 | €363,552 | -€16,135 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €315,999 | €157,268 | -€158,732 | -50.2% |
| Income taxes | 67/77 | €99,657 | €34,833 | -€64,824 | -65.0% |
| Profit (loss) for the period | 9904 | €216,342 | €122,435 | -€93,907 | -43.4% |
| Profit (loss) for the period to be appropriated | 9905 | €216,342 | €122,435 | -€93,907 | -43.4% |
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 16 October 2026 via checked.be.