BVS Projects: 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.
BVS Projects
Largest movements
- Cash +€26,944
up €26,944 (+140%), from €19,293 to €46,237
mainly Trade debts (+€42,412) and Depreciation (+€8,252)
- Stocks and contracts +€8,600
new in 2025: €8,600
- Receivables within one year +€6,258
up €6,258 (+11.5%), from €54,556 to €60,814
of which Other amounts receivable: +€6,580
- Tangible fixed assets -€3,605
down €3,605 (-10.6%), from €33,852 to €30,247
of which Land and buildings: -€4,071
- Trade debts +€42,412
up €42,412 (+3,424%), from €1,239 to €43,651
- Current portion of long-term debt -€4,605
down €4,605 (-65.8%), from €7,000 to €2,395
- Reserves -€2,271
down €2,271 (-2.5%), from €92,002 to €89,731
- Tax, wage and social debts +€1,865
up €1,865 (+362%), from €515 to €2,381
of which Remuneration and social security: +€2,381
- Gross operating margin -€9,124
down €9,124 (-46.0%), from €19,826 to €10,702
- Taxes -€2,676
down €2,676 (-90.0%), from €2,972 to €297
- Financial charges +€1,237
up €1,237 (+55.9%), from €2,213 to €3,450
- Other operating charges -€396
down €396 (-28.9%), from €1,372 to €976
- Financial income -€293
down €293 (-99.8%), from €293 to €1
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 | €123,854 | €160,621 | +€36,766 | +29.7% |
| Fixed assets | 21/28 | €33,852 | €30,247 | -€3,605 | -10.6% |
| Tangible fixed assets | 22/27 | €33,852 | €30,247 | -€3,605 | -10.6% |
| Land and buildings | 22 | €17,744 | €13,674 | -€4,071 | -22.9% |
| Plant, machinery and equipment | 23 | €12,817 | €9,394 | -€3,424 | -26.7% |
| Furniture and vehicles | 24 | - | €4,340 | +€4,340 | |
| Leasing and similar rights | 25 | €3,291 | €2,841 | -€450 | -13.7% |
| Current assets | 29/58 | €90,002 | €130,373 | +€40,371 | +44.9% |
| Amounts receivable after more than one year | 29 | €14,414 | €14,414 | = | 0.0% |
| Other amounts receivable | 291 | €14,414 | €14,414 | = | 0.0% |
| Stocks and contracts in progress | 3 | - | €8,600 | +€8,600 | |
| Contracts in progress | 37 | - | €8,600 | +€8,600 | |
| Amounts receivable within one year | 40/41 | €54,556 | €60,814 | +€6,258 | +11.5% |
| Trade receivables | 40 | €42,406 | €42,083 | -€322 | -0.8% |
| Other amounts receivable | 41 | €12,150 | €18,730 | +€6,580 | +54.2% |
| Cash at bank and in hand | 54/58 | €19,293 | €46,237 | +€26,944 | +140% |
| Deferred charges and accrued income | 490/1 | €1,740 | €309 | -€1,431 | -82.2% |
| Total equity and liabilities | 10/49 | €123,854 | €160,621 | +€36,766 | +29.7% |
| Equity | 10/15 | €98,202 | €95,931 | -€2,271 | -2.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €92,002 | €89,731 | -€2,271 | -2.5% |
| Distributable reserves | 133 | €92,002 | €89,731 | -€2,271 | -2.5% |
| Amounts payable | 17/49 | €25,652 | €64,689 | +€39,037 | +152% |
| Amounts payable within one year | 42/48 | €25,652 | €64,689 | +€39,037 | +152% |
| Current portion of amounts payable after more than one year | 42 | €7,000 | €2,395 | -€4,605 | -65.8% |
| Trade debts | 44 | €1,239 | €43,651 | +€42,412 | +3,424% |
| Suppliers | 440/4 | €1,239 | €43,651 | +€42,412 | +3,424% |
| Advances received on contracts in progress | 46 | €1,215 | €1,215 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €515 | €2,381 | +€1,865 | +362% |
| Taxes | 450/3 | €515 | €0 | -€515 | -100% |
| Remuneration and social security | 454/9 | €0 | €2,381 | +€2,381 | |
| Other amounts payable | 47/48 | €15,683 | €15,048 | -€635 | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,409 | €8,252 | -€157 | -1.9% |
| Other operating charges | 640/8 | €1,372 | €976 | -€396 | -28.9% |
| Gross operating margin | 9900 | €19,826 | €10,702 | -€9,124 | -46.0% |
| Operating profit (loss) | 9901 | €10,046 | €1,475 | -€8,571 | -85.3% |
| Financial income | 75/76B | €293 | €1 | -€293 | -99.8% |
| Recurring financial income | 75 | €293 | €1 | -€293 | -99.8% |
| Financial charges | 65/66B | €2,213 | €3,450 | +€1,237 | +55.9% |
| Recurring financial charges | 65 | €2,213 | €3,450 | +€1,237 | +55.9% |
| Profit (loss) for the period before taxes | 9903 | €8,126 | -€1,974 | -€10,100 | |
| Income taxes | 67/77 | €2,972 | €297 | -€2,676 | -90.0% |
| Profit (loss) for the period | 9904 | €5,153 | -€2,271 | -€7,424 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,153 | -€2,271 | -€7,424 |
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 16 October 2026 via checked.be.