BVO Projects: 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.
BVO Projects
Largest movements
- Receivables within one year +€18,640
up €18,640 (+179%), from €10,397 to €29,037
of which Trade receivables: +€13,234
- Cash -€7,224
down €7,224 (-43.3%), from €16,671 to €9,447
mainly Receivables within one year (-€18,640) and Current portion of long-term debt (-€5,000)
- Deferred charges and accrued income -€3,232
down €3,232 (-53.9%), from €5,993 to €2,761
- Trade debts +€6,339
up €6,339 (+59.5%), from €10,651 to €16,990
- Reserves +€5,900
up €5,900 (+33.7%), from €17,526 to €23,426
- Current portion of long-term debt -€5,000
down €5,000 (-83.3%), from €6,000 to €1,000
- Other debts +€905
up €905 (+6.0%), from €15,052 to €15,957
- Taxes +€1,823
up €1,823 (+420%), from €434 to €2,257
- Depreciation +€1,131
up €1,131 (+64.1%), from €1,765 to €2,896
- Gross operating margin -€845
down €845 (-5.9%), from €14,404 to €13,559
- Financial charges +€822
up €822 (+1,057%), from €78 to €900
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 | €65,717 | €73,906 | +€8,188 | +12.5% |
| Fixed assets | 21/28 | €31,656 | €31,661 | +€4 | 0.0% |
| Tangible fixed assets | 22/27 | €31,656 | €31,661 | +€4 | 0.0% |
| Land and buildings | 22 | €25,000 | €25,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €4,428 | €3,218 | -€1,210 | -27.3% |
| Furniture and vehicles | 24 | €2,228 | €3,443 | +€1,215 | +54.5% |
| Current assets | 29/58 | €34,061 | €42,245 | +€8,184 | +24.0% |
| Stocks and contracts in progress | 3 | €1,000 | €1,000 | = | 0.0% |
| Stocks | 30/36 | €1,000 | €1,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €10,397 | €29,037 | +€18,640 | +179% |
| Trade receivables | 40 | €4,683 | €17,917 | +€13,234 | +283% |
| Other amounts receivable | 41 | €5,714 | €11,120 | +€5,406 | +94.6% |
| Cash at bank and in hand | 54/58 | €16,671 | €9,447 | -€7,224 | -43.3% |
| Deferred charges and accrued income | 490/1 | €5,993 | €2,761 | -€3,232 | -53.9% |
| Total equity and liabilities | 10/49 | €65,717 | €73,906 | +€8,188 | +12.5% |
| Equity | 10/15 | €23,740 | €29,683 | +€5,943 | +25.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €17,526 | €23,426 | +€5,900 | +33.7% |
| Distributable reserves | 133 | €17,526 | €23,426 | +€5,900 | +33.7% |
| Profit (loss) carried forward | 14 | €14 | €58 | +€43 | +308% |
| Amounts payable | 17/49 | €41,977 | €44,222 | +€2,245 | +5.3% |
| Amounts payable after more than one year | 17 | €6,500 | €6,500 | = | 0.0% |
| Financial debts | 170/4 | €6,500 | €6,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €35,402 | €37,647 | +€2,245 | +6.3% |
| Current portion of amounts payable after more than one year | 42 | €6,000 | €1,000 | -€5,000 | -83.3% |
| Trade debts | 44 | €10,651 | €16,990 | +€6,339 | +59.5% |
| Suppliers | 440/4 | €10,651 | €16,990 | +€6,339 | +59.5% |
| Taxes, remuneration and social security | 45 | €3,700 | €3,700 | = | 0.0% |
| Taxes | 450/3 | €2,100 | €2,100 | = | 0.0% |
| Remuneration and social security | 454/9 | €1,600 | €1,600 | = | 0.0% |
| Other amounts payable | 47/48 | €15,052 | €15,957 | +€905 | +6.0% |
| Accrued charges and deferred income | 492/3 | €75 | €75 | = | 0.0% |
| Non-recurring operating income | 76A | €3,335 | €0 | -€3,335 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,765 | €2,896 | +€1,131 | +64.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,695 | €1,624 | -€71 | -4.2% |
| Gross operating margin | 9900 | €14,404 | €13,559 | -€845 | -5.9% |
| Operating profit (loss) | 9901 | €10,945 | €9,039 | -€1,906 | -17.4% |
| Financial income | 75/76B | €12 | €61 | +€49 | +416% |
| Recurring financial income | 75 | €12 | €61 | +€49 | +416% |
| Financial charges | 65/66B | €78 | €900 | +€822 | +1,057% |
| Recurring financial charges | 65 | €78 | €900 | +€822 | +1,057% |
| Profit (loss) for the period before taxes | 9903 | €10,879 | €8,200 | -€2,678 | -24.6% |
| Income taxes | 67/77 | €434 | €2,257 | +€1,823 | +420% |
| Profit (loss) for the period | 9904 | €10,444 | €5,943 | -€4,501 | -43.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,444 | €5,943 | -€4,501 | -43.1% |
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 20 October 2026 via checked.be.