BVR: 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.
BVR
Largest movements
- Cash +€44,553
up €44,553 (+38.5%), from €115,826 to €160,379
mainly Net result for the year (+€49,826) and Depreciation (+€29,523)
- Tangible fixed assets -€13,821
down €13,821 (-19.7%), from €70,090 to €56,269
- Receivables within one year -€11,867
down €11,867 (-44.2%), from €26,854 to €14,987
of which Trade receivables: -€19,453
- Reserves +€49,820
up €49,820 (+32.3%), from €154,471 to €204,291
of which Distributable reserves: +€49,820
- Tax, wage and social debts -€23,325
down €23,325 (-70.6%), from €33,021 to €9,695
of which Taxes: -€20,425
- Trade debts -€4,895
down €4,895 (-77.4%), from €6,327 to €1,432
- Other debts -€2,595
down €2,595 (-57.4%), from €4,523 to €1,927
- Depreciation +€11,759
up €11,759 (+66.2%), from €17,765 to €29,523
- Gross operating margin -€4,212
down €4,212 (-4.1%), from €103,929 to €99,717
- Taxes -€3,553
down €3,553 (-15.8%), from €22,548 to €18,994
- Other operating charges -€2,826
down €2,826 (-68.2%), from €4,144 to €1,318
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 | €214,761 | €233,771 | +€19,010 | +8.9% |
| Fixed assets | 21/28 | €70,090 | €56,269 | -€13,821 | -19.7% |
| Tangible fixed assets | 22/27 | €70,090 | €56,269 | -€13,821 | -19.7% |
| Furniture and vehicles | 24 | €70,090 | €56,269 | -€13,821 | -19.7% |
| Current assets | 29/58 | €144,671 | €177,503 | +€32,831 | +22.7% |
| Amounts receivable within one year | 40/41 | €26,854 | €14,987 | -€11,867 | -44.2% |
| Trade receivables | 40 | €26,854 | €7,401 | -€19,453 | -72.4% |
| Other amounts receivable | 41 | - | €7,586 | +€7,586 | |
| Cash at bank and in hand | 54/58 | €115,826 | €160,379 | +€44,553 | +38.5% |
| Deferred charges and accrued income | 490/1 | €1,992 | €2,138 | +€146 | +7.3% |
| Total equity and liabilities | 10/49 | €214,761 | €233,771 | +€19,010 | +8.9% |
| Equity | 10/15 | €170,891 | €220,717 | +€49,826 | +29.2% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €154,471 | €204,291 | +€49,820 | +32.3% |
| Non-distributable reserves | 130/1 | €8,791 | €8,791 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €6,931 | €6,931 | = | 0.0% |
| Distributable reserves | 133 | €145,680 | €195,500 | +€49,820 | +34.2% |
| Profit (loss) carried forward | 14 | €10,215 | €10,221 | +€6 | +0.1% |
| Amounts payable | 17/49 | €43,870 | €13,054 | -€30,816 | -70.2% |
| Amounts payable within one year | 42/48 | €43,870 | €13,054 | -€30,816 | -70.2% |
| Trade debts | 44 | €6,327 | €1,432 | -€4,895 | -77.4% |
| Suppliers | 440/4 | €6,327 | €1,432 | -€4,895 | -77.4% |
| Taxes, remuneration and social security | 45 | €33,021 | €9,695 | -€23,325 | -70.6% |
| Taxes | 450/3 | €30,121 | €9,695 | -€20,425 | -67.8% |
| Remuneration and social security | 454/9 | €2,900 | - | -€2,900 | |
| Other amounts payable | 47/48 | €4,523 | €1,927 | -€2,595 | -57.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,765 | €29,523 | +€11,759 | +66.2% |
| Other operating charges | 640/8 | €4,144 | €1,318 | -€2,826 | -68.2% |
| Gross operating margin | 9900 | €103,929 | €99,717 | -€4,212 | -4.1% |
| Operating profit (loss) | 9901 | €82,020 | €68,875 | -€13,145 | -16.0% |
| Financial charges | 65/66B | €289 | €54 | -€234 | -81.3% |
| Recurring financial charges | 65 | €289 | €54 | -€234 | -81.3% |
| Profit (loss) for the period before taxes | 9903 | €81,731 | €68,821 | -€12,911 | -15.8% |
| Income taxes | 67/77 | €22,548 | €18,994 | -€3,553 | -15.8% |
| Profit (loss) for the period | 9904 | €59,184 | €49,826 | -€9,358 | -15.8% |
| Profit (loss) for the period to be appropriated | 9905 | €59,184 | €49,826 | -€9,358 | -15.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.