BVQ: what changed
Two fiscal 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.
BVQ
Largest movements
- Receivables within one year +€31,516
up €31,516 (+8.4%), from €375,781 to €407,297
of which Trade receivables: +€27,853
- Other debts +€16,603
up €16,603 (+15.0%), from €110,848 to €127,451
- Trade debts +€5,084
up €5,084 (+2.6%), from €194,722 to €199,806
- Short-term financial debts +€4,547
up €4,547 (+86.0%), from €5,289 to €9,835
- Depreciation -€4,087
down €4,087 (-59.3%), from €6,890 to €2,803
- Taxes +€890
up €890 (+261.8%), from €340 to €1,230
- Financial charges +€696
up €696 (+129.3%), from €538 to €1,235
- Other operating charges +€225
up €225 (+71.1%), from €316 to €541
- Gross operating margin +€133
up €133 (+1.6%), from €8,576 to €8,709
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €380,483 | €410,847 | +€30,364 | +8.0% |
| Fixed assets | 21/28 | €3,206 | €2,054 | -€1,152 | -35.9% |
| Tangible fixed assets | 22/27 | €1,793 | €640 | -€1,152 | -64.3% |
| Other tangible fixed assets | 26 | €1,793 | €640 | -€1,152 | -64.3% |
| Financial fixed assets | 28 | €1,413 | €1,413 | = | 0.0% |
| Current assets | 29/58 | €377,278 | €408,793 | +€31,516 | +8.4% |
| Amounts receivable within one year | 40/41 | €375,781 | €407,297 | +€31,516 | +8.4% |
| Trade receivables | 40 | €321,283 | €349,136 | +€27,853 | +8.7% |
| Other amounts receivable | 41 | €54,499 | €58,162 | +€3,663 | +6.7% |
| Deferred charges and accrued income | 490/1 | €1,496 | €1,496 | = | 0.0% |
| Total equity and liabilities | 10/49 | €380,483 | €410,847 | +€30,364 | +8.0% |
| Equity | 10/15 | €57,578 | €60,478 | +€2,900 | +5.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,118 | €40,018 | +€2,900 | +7.8% |
| Amounts payable | 17/49 | €322,905 | €350,369 | +€27,464 | +8.5% |
| Amounts payable within one year | 42/48 | €322,905 | €350,369 | +€27,464 | +8.5% |
| Financial debts | 43 | €5,289 | €9,835 | +€4,547 | +86.0% |
| Credit institutions | 430/8 | €5,289 | €9,835 | +€4,547 | +86.0% |
| Trade debts | 44 | €194,722 | €199,806 | +€5,084 | +2.6% |
| Suppliers | 440/4 | €194,722 | €199,806 | +€5,084 | +2.6% |
| Taxes, remuneration and social security | 45 | €12,047 | €13,277 | +€1,230 | +10.2% |
| Taxes | 450/3 | €6,334 | €7,564 | +€1,230 | +19.4% |
| Remuneration and social security | 454/9 | €5,713 | €5,713 | = | 0.0% |
| Other amounts payable | 47/48 | €110,848 | €127,451 | +€16,603 | +15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,890 | €2,803 | -€4,087 | -59.3% |
| Other operating charges | 640/8 | €316 | €541 | +€225 | +71.1% |
| Gross operating margin | 9900 | €8,576 | €8,709 | +€133 | +1.6% |
| Operating profit (loss) | 9901 | €1,369 | €5,365 | +€3,995 | +291.8% |
| Financial charges | 65/66B | €538 | €1,235 | +€696 | +129.3% |
| Recurring financial charges | 65 | €538 | €1,235 | +€696 | +129.3% |
| Profit (loss) for the period before taxes | 9903 | €831 | €4,130 | +€3,299 | +397.1% |
| Income taxes | 67/77 | €340 | €1,230 | +€890 | +261.8% |
| Profit (loss) for the period | 9904 | €491 | €2,900 | +€2,409 | +490.9% |
| Profit (loss) for the period to be appropriated | 9905 | €491 | €2,900 | +€2,409 | +490.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.