BVS INVEST: what changed
What changed
BVS INVEST
filed annual accounts (NBB)
Net result for the year
€98,751
2024 · €95,993+€2,758
Equity
€3.0m
2024 · €1.9m+€1.0m
Cash
€323,841
2024 · €199,211+€124,630
Balance sheet total
€3.0m
2024 · €1.9m+€1.0m
Largest movements
Assets
- Tangible fixed assets +€903,867
up €903,867 (+67.2%), from €1.3m to €2.2m
- Cash +€124,630
up €124,630 (+62.6%), from €199,211 to €323,841
mainly Contributions, distributions and other (+€943,067) and Net result for the year (+€98,751)
Equity and liabilities
- Revaluation surpluses +€943,067
new in 2025: €943,067
- Reserves +€98,751
up €98,751 (+12.9%), from €765,521 to €864,272
Income statement
- Gross operating margin +€6,284
up €6,284 (+3.5%), from €178,073 to €184,357
- Financial income -€2,282
no longer reported in 2025 (was €2,282)
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€95,993
Gross operating margin
+€6,284
Other operating charges
-€340
Financial income
-€2,282
Financial charges
+€19
Taxes
-€923
Result 2025
€98,751
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€124,630
Investment
-€943,067
Financing
+€943,067
Cash 2024
€199,211
From operations (derived)
+€124,630
Net result for the year
+€98,751
Depreciation
+€39,200
Deferred charges and accrued income
-€11,752
Smaller working-capital items
-€1,569
Investment (derived)
-€943,067
Investment in fixed assets (net)
-€943,067
Financing
+€943,067
Contributions, distributions and other
+€943,067
Cash 2025
€323,841
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,946,246 | €2,986,495 | +€1.0m | +53.4% |
| Fixed assets | 21/28 | €1,345,274 | €2,249,141 | +€903,867 | +67.2% |
| Tangible fixed assets | 22/27 | €1,345,274 | €2,249,141 | +€903,867 | +67.2% |
| Land and buildings | 22 | €1,345,274 | €2,249,141 | +€903,867 | +67.2% |
| Current assets | 29/58 | €600,972 | €737,354 | +€136,382 | +22.7% |
| Current investments | 50/53 | €401,761 | €401,761 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €199,211 | €323,841 | +€124,630 | +62.6% |
| Deferred charges and accrued income | 490/1 | - | €11,752 | +€11,752 | |
| Total equity and liabilities | 10/49 | €1,946,246 | €2,986,495 | +€1.0m | +53.4% |
| Equity | 10/15 | €1,941,521 | €2,983,339 | +€1.0m | +53.7% |
| Contributions | 10/11 | €1,176,000 | €1,176,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €943,067 | +€943,067 | |
| Reserves | 13 | €765,521 | €864,272 | +€98,751 | +12.9% |
| Distributable reserves | 133 | €765,521 | €864,272 | +€98,751 | +12.9% |
| Amounts payable | 17/49 | €4,725 | €3,156 | -€1,569 | -33.2% |
| Amounts payable within one year | 42/48 | €3,733 | €2,162 | -€1,571 | -42.1% |
| Trade debts | 44 | - | €748 | +€748 | |
| Suppliers | 440/4 | - | €748 | +€748 | |
| Taxes, remuneration and social security | 45 | €3,733 | €1,414 | -€2,319 | -62.1% |
| Taxes | 450/3 | €3,733 | €1,414 | -€2,319 | -62.1% |
| Accrued charges and deferred income | 492/3 | €992 | €994 | +€2 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,200 | €39,200 | = | 0.0% |
| Other operating charges | 640/8 | €12,790 | €13,130 | +€340 | +2.7% |
| Gross operating margin | 9900 | €178,073 | €184,357 | +€6,284 | +3.5% |
| Operating profit (loss) | 9901 | €126,083 | €132,027 | +€5,944 | +4.7% |
| Financial income | 75/76B | €2,282 | - | -€2,282 | |
| Recurring financial income | 75 | €2,282 | - | -€2,282 | |
| Financial charges | 65/66B | €284 | €265 | -€19 | -6.7% |
| Recurring financial charges | 65 | €284 | €265 | -€19 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €128,081 | €131,762 | +€3,681 | +2.9% |
| Income taxes | 67/77 | €32,088 | €33,011 | +€923 | +2.9% |
| Profit (loss) for the period | 9904 | €95,993 | €98,751 | +€2,758 | +2.9% |
| Profit (loss) for the period to be appropriated | 9905 | €95,993 | €98,751 | +€2,758 | +2.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.