BVMP: 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.
BVMP
Largest movements
- Receivables within one year +€56,687
up €56,687 (+24.5%), from €231,701 to €288,388
of which Trade receivables: +€37,443
- Deferred charges and accrued income -€14,044
no longer reported in 2025 (was €14,044)
- Stocks and contracts +€5,186
up €5,186 (+5.3%), from €98,041 to €103,227
- Reserves +€88,400
up €88,400 (+4752.7%), from €1,860 to €90,260
of which Distributable reserves: +€88,400
- Accrued charges and deferred income -€48,957
no longer reported in 2025 (was €48,957)
- Tax, wage and social debts +€26,609
up €26,609 (+98.1%), from €27,129 to €53,738
- Other debts -€20,511
no longer reported in 2025 (was €20,511)
- Gross operating margin +€127,027
up €127,027, from -€477 to €126,550
- Taxes +€38,705
up €38,705, from -€1,287 to €37,418
- Depreciation -€3,051
no longer reported in 2025 (was €3,051)
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 | €420,636 | €470,664 | +€50,028 | +11.9% |
| Fixed assets | 21/28 | €14,500 | €14,500 | = | 0.0% |
| Financial fixed assets | 28 | €14,500 | €14,500 | = | 0.0% |
| Current assets | 29/58 | €406,136 | €456,164 | +€50,028 | +12.3% |
| Stocks and contracts in progress | 3 | €98,041 | €103,227 | +€5,186 | +5.3% |
| Stocks | 30/36 | €98,041 | €103,227 | +€5,186 | +5.3% |
| Amounts receivable within one year | 40/41 | €231,701 | €288,388 | +€56,687 | +24.5% |
| Trade receivables | 40 | €220,015 | €257,458 | +€37,443 | +17.0% |
| Other amounts receivable | 41 | €11,686 | €30,930 | +€19,244 | +164.7% |
| Cash at bank and in hand | 54/58 | €62,350 | €64,549 | +€2,199 | +3.5% |
| Deferred charges and accrued income | 490/1 | €14,044 | - | -€14,044 | |
| Total equity and liabilities | 10/49 | €420,636 | €470,664 | +€50,028 | +11.9% |
| Equity | 10/15 | €324,039 | €412,456 | +€88,417 | +27.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €90,260 | +€88,400 | +4752.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €88,400 | +€88,400 | |
| Profit (loss) carried forward | 14 | €309,779 | €309,796 | +€17 | 0.0% |
| Amounts payable | 17/49 | €96,596 | €58,207 | -€38,389 | -39.7% |
| Amounts payable within one year | 42/48 | €47,639 | €58,207 | +€10,568 | +22.2% |
| Trade debts | 44 | - | €4,469 | +€4,469 | |
| Suppliers | 440/4 | - | €4,469 | +€4,469 | |
| Taxes, remuneration and social security | 45 | €27,129 | €53,738 | +€26,609 | +98.1% |
| Taxes | 450/3 | €27,129 | €53,738 | +€26,609 | +98.1% |
| Other amounts payable | 47/48 | €20,511 | - | -€20,511 | |
| Accrued charges and deferred income | 492/3 | €48,957 | - | -€48,957 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,051 | - | -€3,051 | |
| Other operating charges | 640/8 | €671 | €520 | -€151 | -22.6% |
| Gross operating margin | 9900 | -€477 | €126,550 | +€127,027 | |
| Operating profit (loss) | 9901 | -€4,199 | €126,031 | +€130,230 | |
| Financial income | 75/76B | €1 | €29 | +€29 | +5447.2% |
| Recurring financial income | 75 | €1 | €29 | +€29 | +5447.2% |
| Financial charges | 65/66B | €6 | €225 | +€218 | +3437.3% |
| Recurring financial charges | 65 | €6 | €225 | +€218 | +3437.3% |
| Profit (loss) for the period before taxes | 9903 | -€4,205 | €125,835 | +€130,040 | |
| Income taxes | 67/77 | -€1,287 | €37,418 | +€38,705 | |
| Profit (loss) for the period | 9904 | -€2,918 | €88,417 | +€91,336 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,918 | €88,417 | +€91,336 |
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 10 October 2026 via checked.be.