BVHX: 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.
BVHX
Largest movements
- Cash +€289,572
up €289,572 (+744.8%), from €38,879 to €328,452
mainly Net result for the year (+€245,631) and Other debts (+€35,482)
- Tangible fixed assets -€24,349
down €24,349 (-26.3%), from €92,641 to €68,293
of which Furniture and vehicles: -€23,838
- Receivables within one year -€14,921
down €14,921 (-32.9%), from €45,349 to €30,429
of which Trade receivables: -€8,950
- Reserves +€245,631
up €245,631 (+664.8%), from €36,945 to €282,576
- Other debts +€35,482
up €35,482 (+5704.5%), from €622 to €36,104
- Debts after one year -€15,750
down €15,750 (-16.7%), from €94,500 to €78,750
- Current portion of long-term debt -€15,750
down €15,750 (-50.0%), from €31,500 to €15,750
- Gross operating margin +€290,473
up €290,473 (+441.4%), from €65,804 to €356,278
- Taxes +€73,170
up €73,170 (+1135.1%), from €6,446 to €79,616
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 | €181,470 | €434,690 | +€253,220 | +139.5% |
| Formation expenses | 20 | €1,222 | €859 | -€363 | -29.7% |
| Fixed assets | 21/28 | €92,641 | €68,293 | -€24,349 | -26.3% |
| Tangible fixed assets | 22/27 | €92,641 | €68,293 | -€24,349 | -26.3% |
| Plant, machinery and equipment | 23 | €2,448 | €1,937 | -€510 | -20.8% |
| Furniture and vehicles | 24 | €90,194 | €66,355 | -€23,838 | -26.4% |
| Current assets | 29/58 | €87,607 | €365,539 | +€277,932 | +317.2% |
| Amounts receivable within one year | 40/41 | €45,349 | €30,429 | -€14,921 | -32.9% |
| Trade receivables | 40 | €39,200 | €30,250 | -€8,950 | -22.8% |
| Other amounts receivable | 41 | €6,149 | €179 | -€5,971 | -97.1% |
| Cash at bank and in hand | 54/58 | €38,879 | €328,452 | +€289,572 | +744.8% |
| Deferred charges and accrued income | 490/1 | €3,378 | €6,658 | +€3,281 | +97.1% |
| Total equity and liabilities | 10/49 | €181,470 | €434,690 | +€253,220 | +139.5% |
| Equity | 10/15 | €41,945 | €287,576 | +€245,631 | +585.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €36,945 | €282,576 | +€245,631 | +664.8% |
| Distributable reserves | 133 | €36,945 | €282,576 | +€245,631 | +664.8% |
| Amounts payable | 17/49 | €139,525 | €147,114 | +€7,589 | +5.4% |
| Amounts payable after more than one year | 17 | €94,500 | €78,750 | -€15,750 | -16.7% |
| Financial debts | 170/4 | €94,500 | €78,750 | -€15,750 | -16.7% |
| Amounts payable within one year | 42/48 | €39,542 | €61,190 | +€21,648 | +54.7% |
| Current portion of amounts payable after more than one year | 42 | €31,500 | €15,750 | -€15,750 | -50.0% |
| Financial debts | 43 | €1,959 | €2,290 | +€332 | +16.9% |
| Credit institutions | 430/8 | €1,959 | €2,290 | +€332 | +16.9% |
| Trade debts | 44 | €1,215 | €1,153 | -€62 | -5.1% |
| Suppliers | 440/4 | €1,215 | €1,153 | -€62 | -5.1% |
| Taxes, remuneration and social security | 45 | €4,247 | €5,893 | +€1,645 | +38.7% |
| Taxes | 450/3 | €4,247 | €5,893 | +€1,645 | +38.7% |
| Other amounts payable | 47/48 | €622 | €36,104 | +€35,482 | +5704.5% |
| Accrued charges and deferred income | 492/3 | €5,482 | €7,174 | +€1,692 | +30.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,305 | €24,712 | +€407 | +1.7% |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | €65,804 | €356,278 | +€290,473 | +441.4% |
| Operating profit (loss) | 9901 | €41,373 | €331,438 | +€290,065 | +701.1% |
| Financial income | 75/76B | - | €258 | +€258 | |
| Recurring financial income | 75 | - | €258 | +€258 | |
| Financial charges | 65/66B | €4,662 | €6,449 | +€1,787 | +38.3% |
| Recurring financial charges | 65 | €4,662 | €6,449 | +€1,787 | +38.3% |
| Profit (loss) for the period before taxes | 9903 | €36,711 | €325,247 | +€288,536 | +786.0% |
| Income taxes | 67/77 | €6,446 | €79,616 | +€73,170 | +1135.1% |
| Profit (loss) for the period | 9904 | €30,265 | €245,631 | +€215,366 | +711.6% |
| Profit (loss) for the period to be appropriated | 9905 | €30,265 | €245,631 | +€215,366 | +711.6% |
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 4 October 2026 via checked.be.