BVK SECURITY: what changed
What changed
BVK SECURITY
NACE 43.211, General electrical installation work
filed annual accounts (NBB)
Net result for the year
€129,158
2024 · €180,372-€51,215
Equity
€561,300
2024 · €432,142+€129,158
Cash
€298,522
2024 · €155,067+€143,454
Balance sheet total
€1.3m
2024 · €1.1m+€157,388
Largest movements
Assets
- Cash +€143,454
up €143,454 (+92.5%), from €155,067 to €298,522
mainly Receivables within one year (+€142,710) and Net result for the year (+€129,158)
- Receivables within one year -€142,710
down €142,710 (-58.2%), from €245,044 to €102,334
of which Trade receivables: -€96,833
- Stocks and contracts +€138,029
new in 2025: €138,029
- Intangible fixed assets +€33,097
up €33,097 (+12.3%), from €269,178 to €302,275
Equity and liabilities
- Reserves +€129,158
up €129,158 (+31.3%), from €412,142 to €541,300
of which Distributable reserves: +€129,158
- Tax, wage and social debts +€65,072
up €65,072 (+97.1%), from €67,018 to €132,090
of which Taxes: +€36,865
- Debts after one year -€31,615
down €31,615 (-7.7%), from €408,504 to €376,889
- Other debts -€21,683
down €21,683 (-81.4%), from €26,651 to €4,968
- Trade debts +€19,794
up €19,794 (+18.4%), from €107,458 to €127,252
Income statement
- Staff costs +€163,228
up €163,228 (+74.3%), from €219,668 to €382,896
- Gross operating margin +€107,495
up €107,495 (+18.8%), from €571,316 to €678,811
- Taxes -€7,763
down €7,763 (-9.1%), from €85,532 to €77,769
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€180,372
Gross operating margin
+€107,495
Staff costs
-€163,228
Depreciation
-€4,676
Write-downs
+€390
Other operating charges
+€1,356
Financial income
-€1,571
Financial charges
+€1,256
Taxes
+€7,763
Result 2025
€129,158
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€274,435
Investment
-€95,643
Financing
-€35,338
Cash 2024
€155,067
From operations (derived)
+€274,435
Net result for the year
+€129,158
Depreciation
+€75,024
Stocks and contracts
-€138,029
Receivables within one year
+€142,710
Deferred charges and accrued income
+€2,003
Trade debts
+€19,794
Tax, wage and social debts
+€65,072
Other debts
-€21,683
Accrued charges and deferred income
+€384
Investment (derived)
-€95,643
Investment in fixed assets (net)
-€95,643
Financing
-€35,338
Debts after one year
-€31,615
Current portion of long-term debt
-€3,723
Cash 2025
€298,522
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,128,287 | €1,285,675 | +€157,388 | +13.9% |
| Fixed assets | 21/28 | €704,873 | €725,491 | +€20,618 | +2.9% |
| Intangible fixed assets | 21 | €269,178 | €302,275 | +€33,097 | +12.3% |
| Tangible fixed assets | 22/27 | €430,694 | €418,215 | -€12,479 | -2.9% |
| Land and buildings | 22 | €319,586 | €318,867 | -€719 | -0.2% |
| Plant, machinery and equipment | 23 | €8,267 | €8,514 | +€247 | +3.0% |
| Furniture and vehicles | 24 | €90,030 | €74,054 | -€15,976 | -17.7% |
| Leasing and similar rights | 25 | €3,736 | €7,704 | +€3,968 | +106% |
| Other tangible fixed assets | 26 | €9,075 | €9,075 | = | 0.0% |
| Financial fixed assets | 28 | €5,001 | €5,001 | = | 0.0% |
| Current assets | 29/58 | €423,414 | €560,184 | +€136,770 | +32.3% |
| Stocks and contracts in progress | 3 | - | €138,029 | +€138,029 | |
| Stocks | 30/36 | - | €138,029 | +€138,029 | |
| Amounts receivable within one year | 40/41 | €245,044 | €102,334 | -€142,710 | -58.2% |
| Trade receivables | 40 | €182,730 | €85,897 | -€96,833 | -53.0% |
| Other amounts receivable | 41 | €62,314 | €16,437 | -€45,877 | -73.6% |
| Cash at bank and in hand | 54/58 | €155,067 | €298,522 | +€143,454 | +92.5% |
| Deferred charges and accrued income | 490/1 | €23,303 | €21,299 | -€2,003 | -8.6% |
| Total equity and liabilities | 10/49 | €1,128,287 | €1,285,675 | +€157,388 | +13.9% |
| Equity | 10/15 | €432,142 | €561,300 | +€129,158 | +29.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €412,142 | €541,300 | +€129,158 | +31.3% |
| Tax-exempt reserves | 132 | €113,670 | €113,670 | = | 0.0% |
| Distributable reserves | 133 | €298,472 | €427,630 | +€129,158 | +43.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €696,144 | €724,375 | +€28,230 | +4.1% |
| Amounts payable after more than one year | 17 | €408,504 | €376,889 | -€31,615 | -7.7% |
| Financial debts | 170/4 | €408,504 | €376,889 | -€31,615 | -7.7% |
| Amounts payable within one year | 42/48 | €287,641 | €347,102 | +€59,461 | +20.7% |
| Current portion of amounts payable after more than one year | 42 | €86,515 | €82,791 | -€3,723 | -4.3% |
| Trade debts | 44 | €107,458 | €127,252 | +€19,794 | +18.4% |
| Suppliers | 440/4 | €107,458 | €127,252 | +€19,794 | +18.4% |
| Taxes, remuneration and social security | 45 | €67,018 | €132,090 | +€65,072 | +97.1% |
| Taxes | 450/3 | €33,215 | €70,080 | +€36,865 | +111% |
| Remuneration and social security | 454/9 | €33,802 | €62,010 | +€28,207 | +83.4% |
| Other amounts payable | 47/48 | €26,651 | €4,968 | -€21,683 | -81.4% |
| Accrued charges and deferred income | 492/3 | €0 | €384 | +€384 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €219,668 | €382,896 | +€163,228 | +74.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,349 | €75,024 | +€4,676 | +6.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €390 | €0 | -€390 | -100% |
| Other operating charges | 640/8 | €6,386 | €5,030 | -€1,356 | -21.2% |
| Gross operating margin | 9900 | €571,316 | €678,811 | +€107,495 | +18.8% |
| Operating profit (loss) | 9901 | €274,524 | €215,861 | -€58,663 | -21.4% |
| Financial income | 75/76B | €7,246 | €5,675 | -€1,571 | -21.7% |
| Recurring financial income | 75 | €7,246 | €5,675 | -€1,571 | -21.7% |
| Financial charges | 65/66B | €15,865 | €14,609 | -€1,256 | -7.9% |
| Recurring financial charges | 65 | €15,865 | €14,609 | -€1,256 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €265,905 | €206,927 | -€58,978 | -22.2% |
| Income taxes | 67/77 | €85,532 | €77,769 | -€7,763 | -9.1% |
| Profit (loss) for the period | 9904 | €180,372 | €129,158 | -€51,215 | -28.4% |
| Transfer to tax-exempt reserves | 689 | €50,520 | €0 | -€50,520 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €129,852 | €129,158 | -€695 | -0.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.