BVKO: 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.
BVKO
Largest movements
- Cash +€19,757
up €19,757 (+55.7%), from €35,477 to €55,234
mainly Net result for the year (+€15,558) and Depreciation (+€10,538)
- Intangible fixed assets -€10,000
down €10,000 (-12.5%), from €80,000 to €70,000
- Tangible fixed assets +€2,210
new in 2025: €2,210
- Receivables within one year +€1,896
up €1,896 (+229.8%), from €825 to €2,722
- Profit (loss) carried forward +€15,558
up €15,558 (+79.4%), from €19,602 to €35,159
- Debts after one year -€11,990
down €11,990 (-22.2%), from €54,006 to €42,016
- Other debts +€5,846
up €5,846 (+28.1%), from €20,801 to €26,647
- Tax, wage and social debts +€5,106
up €5,106 (+71.5%), from €7,138 to €12,245
- Accrued charges and deferred income -€1,886
down €1,886 (-81.0%), from €2,329 to €443
- Gross operating margin -€10,609
down €10,609 (-23.8%), from €44,575 to €33,965
- Taxes -€3,343
down €3,343 (-42.4%), from €7,883 to €4,540
- Financial charges -€674
down €674 (-17.8%), from €3,777 to €3,103
- Depreciation +€538
up €538 (+5.4%), from €10,000 to €10,538
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 | €116,902 | €130,766 | +€13,864 | +11.9% |
| Fixed assets | 21/28 | €80,600 | €72,810 | -€7,790 | -9.7% |
| Intangible fixed assets | 21 | €80,000 | €70,000 | -€10,000 | -12.5% |
| Tangible fixed assets | 22/27 | - | €2,210 | +€2,210 | |
| Furniture and vehicles | 24 | - | €2,210 | +€2,210 | |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €36,302 | €57,956 | +€21,654 | +59.6% |
| Amounts receivable within one year | 40/41 | €825 | €2,722 | +€1,896 | +229.8% |
| Trade receivables | 40 | €825 | €2,722 | +€1,896 | +229.8% |
| Cash at bank and in hand | 54/58 | €35,477 | €55,234 | +€19,757 | +55.7% |
| Total equity and liabilities | 10/49 | €116,902 | €130,766 | +€13,864 | +11.9% |
| Equity | 10/15 | €21,102 | €36,659 | +€15,558 | +73.7% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,602 | €35,159 | +€15,558 | +79.4% |
| Amounts payable | 17/49 | €95,801 | €94,107 | -€1,694 | -1.8% |
| Amounts payable after more than one year | 17 | €54,006 | €42,016 | -€11,990 | -22.2% |
| Financial debts | 170/4 | €54,006 | €42,016 | -€11,990 | -22.2% |
| Amounts payable within one year | 42/48 | €39,466 | €51,648 | +€12,182 | +30.9% |
| Current portion of amounts payable after more than one year | 42 | €11,426 | €11,990 | +€564 | +4.9% |
| Trade debts | 44 | €101 | €767 | +€666 | +657.0% |
| Suppliers | 440/4 | €101 | €767 | +€666 | +657.0% |
| Taxes, remuneration and social security | 45 | €7,138 | €12,245 | +€5,106 | +71.5% |
| Taxes | 450/3 | €7,138 | €12,245 | +€5,106 | +71.5% |
| Other amounts payable | 47/48 | €20,801 | €26,647 | +€5,846 | +28.1% |
| Accrued charges and deferred income | 492/3 | €2,329 | €443 | -€1,886 | -81.0% |
| Remuneration, social security and pensions | 62 | - | €432 | +€432 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,000 | €10,538 | +€538 | +5.4% |
| Gross operating margin | 9900 | €44,575 | €33,965 | -€10,609 | -23.8% |
| Operating profit (loss) | 9901 | €34,575 | €22,995 | -€11,579 | -33.5% |
| Financial income | 75/76B | €437 | €206 | -€232 | -52.9% |
| Recurring financial income | 75 | €437 | €206 | -€232 | -52.9% |
| Financial charges | 65/66B | €3,777 | €3,103 | -€674 | -17.8% |
| Recurring financial charges | 65 | €3,777 | €3,103 | -€674 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | €31,235 | €20,098 | -€11,137 | -35.7% |
| Income taxes | 67/77 | €7,883 | €4,540 | -€3,343 | -42.4% |
| Profit (loss) for the period | 9904 | €23,352 | €15,558 | -€7,794 | -33.4% |
| Profit (loss) for the period to be appropriated | 9905 | €23,352 | €15,558 | -€7,794 | -33.4% |
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 2 October 2026 via checked.be.