BVL CAPITAL: 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 CAPITAL
Largest movements
- Tangible fixed assets +€551,367
up €551,367 (+77.3%), from €712,856 to €1.3m
of which Land and buildings: +€552,114
- Receivables within one year -€17,970
down €17,970 (-54.3%), from €33,066 to €15,095
of which Trade receivables: -€18,098
- Debts after one year +€502,143
up €502,143 (+174%), from €288,976 to €791,119
- Other debts +€86,387
up €86,387 (+56.7%), from €152,384 to €238,770
- Profit (loss) carried forward -€46,720
down €46,720 (-35.6%), from €131,315 to €84,595
- Current portion of long-term debt -€32,446
no longer reported in 2025 (was €32,446)
- Short-term financial debts +€27,857
new in 2025: €27,857
- Purchases and services -€36,401
no longer reported in 2025 (was €36,401)
- Turnover -€20,000
no longer reported in 2025 (was €20,000)
- Depreciation +€2,643
up €2,643 (+9.2%), from €28,675 to €31,318
- Financial charges -€1,002
down €1,002 (-17.1%), from €5,844 to €4,842
- Other operating charges -€533
down €533 (-14.8%), from €3,598 to €3,065
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 | €759,248 | €1,291,218 | +€531,971 | +70.1% |
| Fixed assets | 21/28 | €712,921 | €1,264,288 | +€551,367 | +77.3% |
| Tangible fixed assets | 22/27 | €712,856 | €1,264,223 | +€551,367 | +77.3% |
| Land and buildings | 22 | €711,471 | €1,263,585 | +€552,114 | +77.6% |
| Furniture and vehicles | 24 | €1,385 | €638 | -€747 | -53.9% |
| Financial fixed assets | 28 | €65 | €65 | = | 0.0% |
| Current assets | 29/58 | €46,327 | €26,930 | -€19,396 | -41.9% |
| Amounts receivable within one year | 40/41 | €33,066 | €15,095 | -€17,970 | -54.3% |
| Trade receivables | 40 | €33,066 | €14,967 | -€18,098 | -54.7% |
| Other amounts receivable | 41 | - | €128 | +€128 | |
| Cash at bank and in hand | 54/58 | €12,626 | €9,624 | -€3,002 | -23.8% |
| Deferred charges and accrued income | 490/1 | €635 | €2,211 | +€1,576 | +248% |
| Total equity and liabilities | 10/49 | €759,248 | €1,291,218 | +€531,971 | +70.1% |
| Equity | 10/15 | €269,491 | €222,771 | -€46,720 | -17.3% |
| Contributions | 10/11 | €18,600 | €20,460 | +€1,860 | +10.0% |
| Contributions outside capital | 11 | €18,600 | €20,460 | +€1,860 | +10.0% |
| Share premium | 1100/10 | - | €20,460 | +€20,460 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Revaluation surpluses | 12 | €104,250 | €104,250 | = | 0.0% |
| Reserves | 13 | €15,326 | €13,466 | -€1,860 | -12.1% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €13,466 | €13,466 | = | 0.0% |
| Profit (loss) carried forward | 14 | €131,315 | €84,595 | -€46,720 | -35.6% |
| Amounts payable | 17/49 | €489,756 | €1,068,447 | +€578,691 | +118% |
| Amounts payable after more than one year | 17 | €288,976 | €791,119 | +€502,143 | +174% |
| Financial debts | 170/4 | €288,976 | €791,119 | +€502,143 | +174% |
| Amounts payable within one year | 42/48 | €200,633 | €277,181 | +€76,548 | +38.2% |
| Current portion of amounts payable after more than one year | 42 | €32,446 | - | -€32,446 | |
| Financial debts | 43 | - | €27,857 | +€27,857 | |
| Credit institutions | 430/8 | - | €27,857 | +€27,857 | |
| Trade debts | 44 | €15,211 | €8,968 | -€6,243 | -41.0% |
| Suppliers | 440/4 | €15,211 | €8,968 | -€6,243 | -41.0% |
| Taxes, remuneration and social security | 45 | €593 | €1,586 | +€993 | +168% |
| Taxes | 450/3 | €593 | €1,586 | +€993 | +168% |
| Other amounts payable | 47/48 | €152,384 | €238,770 | +€86,387 | +56.7% |
| Accrued charges and deferred income | 492/3 | €147 | €147 | = | 0.0% |
| Turnover | 70 | €20,000 | - | -€20,000 | |
| Goods, raw materials, services and sundry goods | 60/61 | €36,401 | - | -€36,401 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,675 | €31,318 | +€2,643 | +9.2% |
| Other operating charges | 640/8 | €3,598 | €3,065 | -€533 | -14.8% |
| Gross operating margin | 9900 | -€2,457 | -€1,972 | +€486 | +19.8% |
| Operating profit (loss) | 9901 | -€34,730 | -€36,355 | -€1,624 | -4.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -45.5% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -45.5% |
| Financial charges | 65/66B | €5,844 | €4,842 | -€1,002 | -17.1% |
| Recurring financial charges | 65 | €5,844 | €4,842 | -€1,002 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | -€40,574 | -€41,197 | -€622 | -1.5% |
| Income taxes | 67/77 | €5,523 | €5,523 | +€0 | 0.0% |
| Profit (loss) for the period | 9904 | -€46,097 | -€46,720 | -€622 | -1.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,097 | -€46,720 | -€622 | -1.4% |
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 19 October 2026 via checked.be.