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
- Tangible fixed assets -€34,174
down €34,174 (-91.3%), from €37,433 to €3,260
- Receivables within one year +€27,840
up €27,840 (+221.0%), from €12,598 to €40,438
of which Trade receivables: +€27,436
- Cash +€6,138
up €6,138 (+32.2%), from €19,039 to €25,178
mainly Debts after one year (+€38,571) and Investment in fixed assets (net) (+€33,361)
- Other debts -€58,732
down €58,732 (-94.5%), from €62,159 to €3,426
- Debts after one year +€38,571
up €38,571 (+180.0%), from €21,429 to €60,000
- Current portion of long-term debt +€19,066
up €19,066 (+311.6%), from €6,119 to €25,185
- Reserves +€1,648
up €1,648 (+15.6%), from €10,570 to €12,218
- Financial charges +€16,384
up €16,384 (+1541.7%), from €1,063 to €17,447
of which Non-recurring financial charges: +€12,071
- Gross operating margin +€9,781
up €9,781 (+50.9%), from €19,213 to €28,995
- Depreciation -€6,275
down €6,275 (-88.5%), from €7,088 to €813
- Other operating charges +€2,190
up €2,190 (+45.6%), from €4,804 to €6,993
- Taxes -€398
down €398 (-16.0%), from €2,495 to €2,097
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €109,681 | €110,185 | +€504 | +0.5% |
| Fixed assets | 21/28 | €78,043 | €43,870 | -€34,174 | -43.8% |
| Tangible fixed assets | 22/27 | €37,433 | €3,260 | -€34,174 | -91.3% |
| Furniture and vehicles | 24 | €37,433 | €3,260 | -€34,174 | -91.3% |
| Financial fixed assets | 28 | €40,610 | €40,610 | = | 0.0% |
| Current assets | 29/58 | €31,638 | €66,315 | +€34,678 | +109.6% |
| Amounts receivable within one year | 40/41 | €12,598 | €40,438 | +€27,840 | +221.0% |
| Trade receivables | 40 | €12,598 | €40,034 | +€27,436 | +217.8% |
| Other amounts receivable | 41 | - | €404 | +€404 | |
| Cash at bank and in hand | 54/58 | €19,039 | €25,178 | +€6,138 | +32.2% |
| Deferred charges and accrued income | 490/1 | - | €700 | +€700 | |
| Total equity and liabilities | 10/49 | €109,681 | €110,185 | +€504 | +0.5% |
| Equity | 10/15 | €10,570 | €12,218 | +€1,648 | +15.6% |
| Reserves | 13 | €10,570 | €12,218 | +€1,648 | +15.6% |
| Distributable reserves | 133 | €10,570 | €12,218 | +€1,648 | +15.6% |
| Amounts payable | 17/49 | €99,111 | €97,967 | -€1,144 | -1.2% |
| Amounts payable after more than one year | 17 | €21,429 | €60,000 | +€38,571 | +180.0% |
| Financial debts | 170/4 | €21,429 | €60,000 | +€38,571 | +180.0% |
| Amounts payable within one year | 42/48 | €77,682 | €37,967 | -€39,715 | -51.1% |
| Current portion of amounts payable after more than one year | 42 | €6,119 | €25,185 | +€19,066 | +311.6% |
| Trade debts | 44 | €1,133 | €325 | -€808 | -71.3% |
| Suppliers | 440/4 | €1,133 | €325 | -€808 | -71.3% |
| Taxes, remuneration and social security | 45 | €8,271 | €9,031 | +€760 | +9.2% |
| Taxes | 450/3 | €8,271 | €9,031 | +€760 | +9.2% |
| Other amounts payable | 47/48 | €62,159 | €3,426 | -€58,732 | -94.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,088 | €813 | -€6,275 | -88.5% |
| Other operating charges | 640/8 | €4,804 | €6,993 | +€2,190 | +45.6% |
| Gross operating margin | 9900 | €19,213 | €28,995 | +€9,781 | +50.9% |
| Operating profit (loss) | 9901 | €7,322 | €21,188 | +€13,867 | +189.4% |
| Financial income | 75/76B | €46 | €3 | -€43 | -92.8% |
| Recurring financial income | 75 | €46 | €3 | -€43 | -92.8% |
| Financial charges | 65/66B | €1,063 | €17,447 | +€16,384 | +1541.7% |
| Recurring financial charges | 65 | €1,063 | €5,375 | +€4,313 | +405.8% |
| Non-recurring financial charges | 66B | - | €12,071 | +€12,071 | |
| Profit (loss) for the period before taxes | 9903 | €6,305 | €3,745 | -€2,560 | -40.6% |
| Income taxes | 67/77 | €2,495 | €2,097 | -€398 | -16.0% |
| Profit (loss) for the period | 9904 | €3,810 | €1,648 | -€2,161 | -56.7% |
| Profit (loss) for the period to be appropriated | 9905 | €3,810 | €1,648 | -€2,161 | -56.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.