BVL: 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.
BVL
Largest movements
- Tangible fixed assets +€73,010
up €73,010 (+127.3%), from €57,333 to €130,343
- Cash +€33,223
up €33,223 (+168.7%), from €19,689 to €52,912
mainly Trade debts (+€77,729) and Net result for the year (+€27,984)
- Receivables within one year -€13,438
down €13,438 (-15.8%), from €85,063 to €71,625
of which Trade receivables: -€18,980
- Trade debts +€77,729
up €77,729 (+335.7%), from €23,158 to €100,887
- Reserves +€27,984
up €27,984 (+40.2%), from €69,649 to €97,633
- Debts after one year -€15,708
down €15,708 (-65.9%), from €23,847 to €8,139
- Tax, wage and social debts +€2,828
up €2,828 (+20.9%), from €13,540 to €16,368
of which Taxes: +€6,728
- Gross operating margin +€32,014
up €32,014 (+110.0%), from €29,099 to €61,114
- Taxes +€4,994
up €4,994 (+89.7%), from €5,568 to €10,562
- Financial charges +€1,726
up €1,726 (+33.8%), from €5,101 to €6,827
- Other operating charges +€1,625
up €1,625 (+1156.7%), from €141 to €1,766
- Financial income +€744
up €744 (+30.0%), from €2,478 to €3,222
of which Financial income: +€744
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 | €164,539 | €258,101 | +€93,562 | +56.9% |
| Fixed assets | 21/28 | €57,333 | €130,343 | +€73,010 | +127.3% |
| Tangible fixed assets | 22/27 | €57,333 | €130,343 | +€73,010 | +127.3% |
| Furniture and vehicles | 24 | €57,333 | €130,343 | +€73,010 | +127.3% |
| Current assets | 29/58 | €107,206 | €127,759 | +€20,553 | +19.2% |
| Amounts receivable within one year | 40/41 | €85,063 | €71,625 | -€13,438 | -15.8% |
| Trade receivables | 40 | €49,074 | €30,094 | -€18,980 | -38.7% |
| Other amounts receivable | 41 | €35,989 | €41,531 | +€5,541 | +15.4% |
| Cash at bank and in hand | 54/58 | €19,689 | €52,912 | +€33,223 | +168.7% |
| Deferred charges and accrued income | 490/1 | €2,454 | €3,222 | +€768 | +31.3% |
| Total equity and liabilities | 10/49 | €164,539 | €258,101 | +€93,562 | +56.9% |
| Equity | 10/15 | €89,015 | €116,999 | +€27,984 | +31.4% |
| Contributions | 10/11 | €19,366 | €19,366 | = | 0.0% |
| Reserves | 13 | €69,649 | €97,633 | +€27,984 | +40.2% |
| Distributable reserves | 133 | €69,649 | €97,633 | +€27,984 | +40.2% |
| Amounts payable | 17/49 | €75,524 | €141,102 | +€65,578 | +86.8% |
| Amounts payable after more than one year | 17 | €23,847 | €8,139 | -€15,708 | -65.9% |
| Financial debts | 170/4 | €23,847 | €8,139 | -€15,708 | -65.9% |
| Amounts payable within one year | 42/48 | €51,677 | €132,963 | +€81,287 | +157.3% |
| Current portion of amounts payable after more than one year | 42 | €14,979 | €15,708 | +€730 | +4.9% |
| Trade debts | 44 | €23,158 | €100,887 | +€77,729 | +335.7% |
| Suppliers | 440/4 | €23,158 | €100,887 | +€77,729 | +335.7% |
| Taxes, remuneration and social security | 45 | €13,540 | €16,368 | +€2,828 | +20.9% |
| Taxes | 450/3 | €9,640 | €16,368 | +€6,728 | +69.8% |
| Remuneration and social security | 454/9 | €3,900 | €0 | -€3,900 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,894 | €17,196 | +€302 | +1.8% |
| Other operating charges | 640/8 | €141 | €1,766 | +€1,625 | +1156.7% |
| Gross operating margin | 9900 | €29,099 | €61,114 | +€32,014 | +110.0% |
| Operating profit (loss) | 9901 | €12,064 | €42,152 | +€30,087 | +249.4% |
| Financial income | 75/76B | €2,478 | €3,222 | +€744 | +30.0% |
| Recurring financial income | 75 | €2,478 | €3,222 | +€744 | +30.0% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €5,101 | €6,827 | +€1,726 | +33.8% |
| Recurring financial charges | 65 | €5,101 | €6,827 | +€1,726 | +33.8% |
| Profit (loss) for the period before taxes | 9903 | €9,441 | €38,546 | +€29,105 | +308.3% |
| Income taxes | 67/77 | €5,568 | €10,562 | +€4,994 | +89.7% |
| Profit (loss) for the period | 9904 | €3,874 | €27,984 | +€24,111 | +622.5% |
| Profit (loss) for the period to be appropriated | 9905 | €3,874 | €27,984 | +€24,111 | +622.5% |
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 12 October 2026 via checked.be.