BVRS Immo: 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.
BVRS Immo
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+41.4%), from €2.9m to €4.1m
- Receivables within one year -€984,130
down €984,130 (-97.0%), from €1.0m to €30,068
of which Other amounts receivable: -€959,203
- Stocks and contracts -€801,884
down €801,884 (-100%), from €801,884 to €0
- Debts after one year -€1.1m
down €1.1m (-34.3%), from €3.2m to €2.1m
of which Financial debts: -€1.1m
- Trade debts +€554,577
up €554,577 (+7,635%), from €7,264 to €561,841
- Short-term financial debts +€200,903
up €200,903 (+589%), from €34,098 to €235,000
of which Credit institutions: +€200,903
- Profit (loss) carried forward -€157,290
down €157,290 (-65.0%), from -€242,060 to -€399,350
- Other debts -€104,688
down €104,688 (-9.8%), from €1.1m to €958,549
- Gross operating margin +€118,978
up €118,978, from -€13,374 to €105,605
- Depreciation +€54,534
up €54,534 (+150%), from €36,425 to €90,959
- Financial charges +€29,344
up €29,344 (+45.8%), from €64,093 to €93,437
- Other operating charges +€23,658
up €23,658 (+51.3%), from €46,077 to €69,735
- Write-downs +€8,764
new in 2025: €8,764
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 | €4,744,690 | €4,166,773 | -€577,917 | -12.2% |
| Fixed assets | 21/28 | €2,928,419 | €4,133,845 | +€1.2m | +41.2% |
| Tangible fixed assets | 22/27 | €2,908,419 | €4,113,845 | +€1.2m | +41.4% |
| Land and buildings | 22 | €2,908,419 | €4,113,845 | +€1.2m | +41.4% |
| Financial fixed assets | 28 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €1,816,272 | €32,928 | -€1.8m | -98.2% |
| Stocks and contracts in progress | 3 | €801,884 | €0 | -€801,884 | -100% |
| Stocks | 30/36 | €801,884 | €0 | -€801,884 | -100% |
| Amounts receivable within one year | 40/41 | €1,014,198 | €30,068 | -€984,130 | -97.0% |
| Trade receivables | 40 | €24,926 | €0 | -€24,926 | -100% |
| Other amounts receivable | 41 | €989,271 | €30,068 | -€959,203 | -97.0% |
| Cash at bank and in hand | 54/58 | €191 | €2,860 | +€2,670 | +1,401% |
| Total equity and liabilities | 10/49 | €4,744,690 | €4,166,773 | -€577,917 | -12.2% |
| Equity | 10/15 | €387,940 | €230,650 | -€157,290 | -40.5% |
| Contributions | 10/11 | €630,000 | €630,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€242,060 | -€399,350 | -€157,290 | -65.0% |
| Amounts payable | 17/49 | €4,356,750 | €3,936,123 | -€420,627 | -9.7% |
| Amounts payable after more than one year | 17 | €3,200,244 | €2,103,417 | -€1.1m | -34.3% |
| Financial debts | 170/4 | €3,200,244 | €2,088,567 | -€1.1m | -34.7% |
| Other amounts payable | 178/9 | - | €14,850 | +€14,850 | |
| Amounts payable within one year | 42/48 | €1,156,506 | €1,832,707 | +€676,201 | +58.5% |
| Current portion of amounts payable after more than one year | 42 | €51,907 | €77,317 | +€25,409 | +49.0% |
| Financial debts | 43 | €34,098 | €235,000 | +€200,903 | +589% |
| Credit institutions | 430/8 | €34,098 | €235,000 | +€200,903 | +589% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €7,264 | €561,841 | +€554,577 | +7,635% |
| Suppliers | 440/4 | €7,264 | €561,841 | +€554,577 | +7,635% |
| Other amounts payable | 47/48 | €1,063,237 | €958,549 | -€104,688 | -9.8% |
| Non-recurring operating income | 76A | - | €2,600 | +€2,600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,425 | €90,959 | +€54,534 | +150% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €8,764 | +€8,764 | |
| Other operating charges | 640/8 | €46,077 | €69,735 | +€23,658 | +51.3% |
| Gross operating margin | 9900 | -€13,374 | €105,605 | +€118,978 | |
| Operating profit (loss) | 9901 | -€95,876 | -€63,853 | +€32,023 | +33.4% |
| Financial income | 75/76B | €4 | €0 | -€4 | -100% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -100% |
| Financial charges | 65/66B | €64,093 | €93,437 | +€29,344 | +45.8% |
| Recurring financial charges | 65 | €64,093 | €93,437 | +€29,344 | +45.8% |
| Profit (loss) for the period before taxes | 9903 | -€159,965 | -€157,290 | +€2,675 | +1.7% |
| Profit (loss) for the period | 9904 | -€159,965 | -€157,290 | +€2,675 | +1.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€159,965 | -€157,290 | +€2,675 | +1.7% |
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 13 October 2026 via checked.be.