BVH Management: 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 Management
Largest movements
- Current investments +€31,993
up €31,993 (+8.0%), from €402,154 to €434,147
- Tangible fixed assets -€16,970
down €16,970 (-25.1%), from €67,672 to €50,702
of which Furniture and vehicles: -€16,530
- Receivables within one year +€16,929
up €16,929 (+88.2%), from €19,196 to €36,125
of which Trade receivables: +€16,929
- Cash +€6,263
up €6,263 (+25.8%), from €24,305 to €30,568
mainly Net result for the year (+€66,310) and Depreciation (+€18,088)
- Reserves +€26,682
up €26,682 (+5.5%), from €484,630 to €511,312
- Tax, wage and social debts +€13,194
up €13,194 (+110%), from €11,962 to €25,156
- Gross operating margin -€20,275
down €20,275 (-15.4%), from €131,301 to €111,026
- Financial income -€20,095
down €20,095 (-73.4%), from €27,359 to €7,265
- Taxes -€4,394
down €4,394 (-12.1%), from €36,416 to €32,022
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 | €516,282 | €554,454 | +€38,172 | +7.4% |
| Fixed assets | 21/28 | €67,672 | €50,702 | -€16,970 | -25.1% |
| Tangible fixed assets | 22/27 | €67,672 | €50,702 | -€16,970 | -25.1% |
| Furniture and vehicles | 24 | €67,202 | €50,672 | -€16,530 | -24.6% |
| Other tangible fixed assets | 26 | €470 | €30 | -€440 | -93.6% |
| Current assets | 29/58 | €448,610 | €503,752 | +€55,142 | +12.3% |
| Amounts receivable within one year | 40/41 | €19,196 | €36,125 | +€16,929 | +88.2% |
| Trade receivables | 40 | €19,196 | €36,125 | +€16,929 | +88.2% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €402,154 | €434,147 | +€31,993 | +8.0% |
| Cash at bank and in hand | 54/58 | €24,305 | €30,568 | +€6,263 | +25.8% |
| Deferred charges and accrued income | 490/1 | €2,955 | €2,912 | -€42 | -1.4% |
| Total equity and liabilities | 10/49 | €516,282 | €554,454 | +€38,172 | +7.4% |
| Equity | 10/15 | €497,030 | €523,712 | +€26,682 | +5.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €484,630 | €511,312 | +€26,682 | +5.5% |
| Distributable reserves | 133 | €484,630 | €511,312 | +€26,682 | +5.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €19,252 | €30,742 | +€11,490 | +59.7% |
| Amounts payable within one year | 42/48 | €17,014 | €27,941 | +€10,927 | +64.2% |
| Trade debts | 44 | €859 | €534 | -€325 | -37.9% |
| Suppliers | 440/4 | €859 | €534 | -€325 | -37.9% |
| Taxes, remuneration and social security | 45 | €11,962 | €25,156 | +€13,194 | +110% |
| Taxes | 450/3 | €11,962 | €25,156 | +€13,194 | +110% |
| Other amounts payable | 47/48 | €4,192 | €2,251 | -€1,941 | -46.3% |
| Accrued charges and deferred income | 492/3 | €2,238 | €2,801 | +€562 | +25.1% |
| Non-recurring operating income | 76A | €24,434 | €0 | -€24,434 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,994 | €18,088 | +€94 | +0.5% |
| Other operating charges | 640/8 | €1,060 | €1,142 | +€82 | +7.7% |
| Gross operating margin | 9900 | €131,301 | €111,026 | -€20,275 | -15.4% |
| Operating profit (loss) | 9901 | €112,247 | €91,796 | -€20,451 | -18.2% |
| Financial income | 75/76B | €27,359 | €7,265 | -€20,095 | -73.4% |
| Recurring financial income | 75 | €27,359 | €7,265 | -€20,095 | -73.4% |
| Financial charges | 65/66B | €793 | €729 | -€63 | -8.0% |
| Recurring financial charges | 65 | €793 | €729 | -€63 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €138,813 | €98,331 | -€40,482 | -29.2% |
| Income taxes | 67/77 | €36,416 | €32,022 | -€4,394 | -12.1% |
| Profit (loss) for the period | 9904 | €102,397 | €66,310 | -€36,087 | -35.2% |
| Profit (loss) for the period to be appropriated | 9905 | €102,397 | €66,310 | -€36,087 | -35.2% |
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.