BVM VASTGOED: 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.
BVM VASTGOED
Largest movements
- Receivables within one year -€264,011
down €264,011 (-68.5%), from €385,639 to €121,628
of which Trade receivables: -€255,388
- Tangible fixed assets -€30,421
down €30,421 (-17.9%), from €170,281 to €139,861
of which Other tangible fixed assets: -€25,394
- Cash -€10,029
down €10,029 (-13.4%), from €75,104 to €65,075
mainly Other debts (-€371,624) and Debts after one year (-€106,963)
- Other debts -€371,624
down €371,624 (-99.3%), from €374,312 to €2,687
- Contributions +€250,000
up €250,000 (+2,151%), from €11,625 to €261,625
- Debts after one year -€106,963
down €106,963 (-82.3%), from €129,991 to €23,028
of which Other amounts payable: -€90,000
- Trade debts -€63,750
down €63,750 (-40.5%), from €157,336 to €93,585
- Profit (loss) carried forward -€13,184
down €13,184 (-7.8%), from -€169,714 to -€182,898
- Gross operating margin +€72,016
up €72,016 (+124%), from €58,185 to €130,201
- Staff costs -€61,058
down €61,058 (-37.7%), from €162,164 to €101,106
- Financial charges -€11,216
down €11,216 (-59.1%), from €18,988 to €7,772
- Financial income -€2,660
down €2,660 (-72.8%), from €3,651 to €992
of which Financial income: -€3,643
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 | €656,712 | €343,718 | -€312,994 | -47.7% |
| Fixed assets | 21/28 | €184,634 | €149,704 | -€34,930 | -18.9% |
| Intangible fixed assets | 21 | €12,433 | €7,924 | -€4,509 | -36.3% |
| Tangible fixed assets | 22/27 | €170,281 | €139,861 | -€30,421 | -17.9% |
| Plant, machinery and equipment | 23 | €1,218 | €761 | -€457 | -37.5% |
| Furniture and vehicles | 24 | €6,103 | €1,533 | -€4,570 | -74.9% |
| Other tangible fixed assets | 26 | €162,960 | €137,566 | -€25,394 | -15.6% |
| Financial fixed assets | 28 | €1,920 | €1,920 | = | 0.0% |
| Current assets | 29/58 | €472,078 | €194,014 | -€278,064 | -58.9% |
| Amounts receivable within one year | 40/41 | €385,639 | €121,628 | -€264,011 | -68.5% |
| Trade receivables | 40 | €375,239 | €119,851 | -€255,388 | -68.1% |
| Other amounts receivable | 41 | €10,400 | €1,777 | -€8,624 | -82.9% |
| Cash at bank and in hand | 54/58 | €75,104 | €65,075 | -€10,029 | -13.4% |
| Deferred charges and accrued income | 490/1 | €11,335 | €7,312 | -€4,024 | -35.5% |
| Total equity and liabilities | 10/49 | €656,712 | €343,718 | -€312,994 | -47.7% |
| Equity | 10/15 | -€151,586 | €85,230 | +€236,816 | |
| Contributions | 10/11 | €11,625 | €261,625 | +€250,000 | +2,151% |
| Reserves | 13 | €6,503 | €6,503 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,503 | €6,503 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€169,714 | -€182,898 | -€13,184 | -7.8% |
| Amounts payable | 17/49 | €808,299 | €258,488 | -€549,810 | -68.0% |
| Amounts payable after more than one year | 17 | €129,991 | €23,028 | -€106,963 | -82.3% |
| Financial debts | 170/4 | €39,991 | €23,028 | -€16,963 | -42.4% |
| Other amounts payable | 178/9 | €90,000 | - | -€90,000 | |
| Amounts payable within one year | 42/48 | €673,764 | €233,074 | -€440,691 | -65.4% |
| Current portion of amounts payable after more than one year | 42 | €16,704 | €16,963 | +€259 | +1.6% |
| Financial debts | 43 | €104,652 | €100,000 | -€4,652 | -4.4% |
| Credit institutions | 430/8 | €104,652 | €100,000 | -€4,652 | -4.4% |
| Trade debts | 44 | €157,336 | €93,585 | -€63,750 | -40.5% |
| Suppliers | 440/4 | €157,336 | €93,585 | -€63,750 | -40.5% |
| Taxes, remuneration and social security | 45 | €20,762 | €19,838 | -€924 | -4.5% |
| Taxes | 450/3 | €7,870 | €9,080 | +€1,210 | +15.4% |
| Remuneration and social security | 454/9 | €12,892 | €10,758 | -€2,134 | -16.5% |
| Other amounts payable | 47/48 | €374,312 | €2,687 | -€371,624 | -99.3% |
| Accrued charges and deferred income | 492/3 | €4,543 | €2,387 | -€2,156 | -47.5% |
| Remuneration, social security and pensions | 62 | €162,164 | €101,106 | -€61,058 | -37.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,795 | €34,930 | +€135 | +0.4% |
| Other operating charges | 640/8 | €84 | €509 | +€425 | +505% |
| Gross operating margin | 9900 | €58,185 | €130,201 | +€72,016 | +124% |
| Operating profit (loss) | 9901 | -€138,858 | -€6,344 | +€132,514 | +95.4% |
| Financial income | 75/76B | €3,651 | €992 | -€2,660 | -72.8% |
| Recurring financial income | 75 | €3,651 | €9 | -€3,643 | -99.8% |
| Non-recurring financial income | 76B | - | €983 | +€983 | |
| Financial charges | 65/66B | €18,988 | €7,772 | -€11,216 | -59.1% |
| Recurring financial charges | 65 | €18,988 | €7,772 | -€11,216 | -59.1% |
| Profit (loss) for the period before taxes | 9903 | -€154,195 | -€13,124 | +€141,071 | +91.5% |
| Income taxes | 67/77 | €146 | €60 | -€86 | -59.0% |
| Profit (loss) for the period | 9904 | -€154,340 | -€13,184 | +€141,157 | +91.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€154,340 | -€13,184 | +€141,157 | +91.5% |
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 19 October 2026 via checked.be.