BVM INVEST: what changed
BVM INVEST
Largest movements
- Tangible fixed assets +€14,762
up €14,762 (+2.5%), from €584,900 to €599,662
of which Land and buildings: +€12,559
- Cash -€11,175
down €11,175 (-61.0%), from €18,324 to €7,149
mainly Investment in fixed assets (net) (-€37,818) and Debts after one year (-€30,288)
- Profit (loss) carried forward +€34,420
up €34,420 (+62.3%), from €55,248 to €89,669
- Debts after one year -€30,288
down €30,288 (-6.1%), from €496,935 to €466,647
of which Financial debts: -€20,288
- Gross operating margin +€15,611
up €15,611 (+26.2%), from €59,612 to €75,223
- Depreciation +€1,766
up €1,766 (+8.3%), from €21,290 to €23,056
- Taxes +€889
up €889 (+11.1%), from €8,000 to €8,889
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €613,310 | €614,857 | +€1,547 | +0.3% |
| Fixed assets | 21/28 | €584,900 | €599,662 | +€14,762 | +2.5% |
| Tangible fixed assets | 22/27 | €584,900 | €599,662 | +€14,762 | +2.5% |
| Land and buildings | 22 | €581,561 | €594,120 | +€12,559 | +2.2% |
| Furniture and vehicles | 24 | €3,339 | €5,542 | +€2,203 | +66.0% |
| Current assets | 29/58 | €28,410 | €15,194 | -€13,215 | -46.5% |
| Amounts receivable within one year | 40/41 | €10,086 | €8,046 | -€2,040 | -20.2% |
| Trade receivables | 40 | €9,300 | €7,260 | -€2,040 | -21.9% |
| Other amounts receivable | 41 | €786 | €786 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €18,324 | €7,149 | -€11,175 | -61.0% |
| Total equity and liabilities | 10/49 | €613,310 | €614,857 | +€1,547 | +0.3% |
| Equity | 10/15 | €65,248 | €99,669 | +€34,420 | +52.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,248 | €89,669 | +€34,420 | +62.3% |
| Amounts payable | 17/49 | €548,061 | €515,188 | -€32,873 | -6.0% |
| Amounts payable after more than one year | 17 | €496,935 | €466,647 | -€30,288 | -6.1% |
| Financial debts | 170/4 | €416,935 | €396,647 | -€20,288 | -4.9% |
| Other amounts payable | 178/9 | €80,000 | €70,000 | -€10,000 | -12.5% |
| Amounts payable within one year | 42/48 | €51,126 | €48,541 | -€2,585 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €23,598 | €22,118 | -€1,481 | -6.3% |
| Trade debts | 44 | €6,796 | €6,572 | -€224 | -3.3% |
| Suppliers | 440/4 | €6,796 | €6,572 | -€224 | -3.3% |
| Taxes, remuneration and social security | 45 | €20,732 | €19,851 | -€881 | -4.2% |
| Taxes | 450/3 | €10,686 | €14,171 | +€3,485 | +32.6% |
| Remuneration and social security | 454/9 | €10,045 | €5,680 | -€4,366 | -43.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,290 | €23,056 | +€1,766 | +8.3% |
| Other operating charges | 640/8 | €1,806 | €1,725 | -€80 | -4.5% |
| Gross operating margin | 9900 | €59,612 | €75,223 | +€15,611 | +26.2% |
| Operating profit (loss) | 9901 | €36,516 | €50,442 | +€13,926 | +38.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €6,830 | €7,133 | +€303 | +4.4% |
| Recurring financial charges | 65 | €6,830 | €7,133 | +€303 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | €29,686 | €43,309 | +€13,623 | +45.9% |
| Income taxes | 67/77 | €8,000 | €8,889 | +€889 | +11.1% |
| Profit (loss) for the period | 9904 | €21,686 | €34,420 | +€12,734 | +58.7% |
| Profit (loss) for the period to be appropriated | 9905 | €21,686 | €34,420 | +€12,734 | +58.7% |
Next steps
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 2 November 2026 via checked.be.