BVW Consult: 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.
BVW Consult
Largest movements
- Cash -€9,742
down €9,742 (-11.3%), from €86,520 to €76,779
mainly Other debts (-€25,415) and Investment in fixed assets (net) (-€10,947)
- Tangible fixed assets +€5,792
up €5,792 (+24.8%), from €23,337 to €29,129
of which Furniture and vehicles: +€6,233
- Current investments +€4,963
up €4,963 (+16.6%), from €29,883 to €34,847
- Receivables within one year +€2,693
up €2,693 (+9.0%), from €29,981 to €32,673
of which Trade receivables: +€2,326
- Reserves +€32,227
up €32,227 (+27.4%), from €117,531 to €149,758
- Other debts -€25,415
down €25,415 (-100%), from €25,415 to €0
- Tax, wage and social debts -€6,021
down €6,021 (-27.0%), from €22,320 to €16,299
of which Taxes: -€6,021
- Debts after one year +€2,658
new in 2026: €2,658
- Gross operating margin -€9,868
down €9,868 (-15.9%), from €62,061 to €52,193
- Taxes -€2,418
down €2,418 (-15.3%), from €15,852 to €13,434
- Depreciation +€1,540
up €1,540 (+42.6%), from €3,615 to €5,155
- Financial income +€814
up €814 (+475%), from €172 to €986
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €170,660 | €174,575 | +€3,915 | +2.3% |
| Fixed assets | 21/28 | €23,337 | €29,129 | +€5,792 | +24.8% |
| Tangible fixed assets | 22/27 | €23,337 | €29,129 | +€5,792 | +24.8% |
| Plant, machinery and equipment | 23 | €4,727 | €4,286 | -€441 | -9.3% |
| Furniture and vehicles | 24 | €18,609 | €24,843 | +€6,233 | +33.5% |
| Current assets | 29/58 | €147,323 | €145,446 | -€1,877 | -1.3% |
| Amounts receivable within one year | 40/41 | €29,981 | €32,673 | +€2,693 | +9.0% |
| Trade receivables | 40 | €28,404 | €30,730 | +€2,326 | +8.2% |
| Other amounts receivable | 41 | €1,577 | €1,943 | +€366 | +23.2% |
| Current investments | 50/53 | €29,883 | €34,847 | +€4,963 | +16.6% |
| Cash at bank and in hand | 54/58 | €86,520 | €76,779 | -€9,742 | -11.3% |
| Deferred charges and accrued income | 490/1 | €939 | €1,147 | +€208 | +22.2% |
| Total equity and liabilities | 10/49 | €170,660 | €174,575 | +€3,915 | +2.3% |
| Equity | 10/15 | €118,531 | €150,758 | +€32,227 | +27.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €117,531 | €149,758 | +€32,227 | +27.4% |
| Distributable reserves | 133 | €117,531 | €149,758 | +€32,227 | +27.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €52,129 | €23,816 | -€28,312 | -54.3% |
| Amounts payable after more than one year | 17 | - | €2,658 | +€2,658 | |
| Financial debts | 170/4 | - | €2,658 | +€2,658 | |
| Amounts payable within one year | 42/48 | €51,168 | €21,158 | -€30,010 | -58.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | €1,366 | +€1,366 | |
| Financial debts | 43 | €2,742 | €2,860 | +€117 | +4.3% |
| Other loans | 439 | €2,742 | €2,860 | +€117 | +4.3% |
| Trade debts | 44 | €691 | €634 | -€57 | -8.3% |
| Suppliers | 440/4 | €691 | €634 | -€57 | -8.3% |
| Taxes, remuneration and social security | 45 | €22,320 | €16,299 | -€6,021 | -27.0% |
| Taxes | 450/3 | €19,520 | €13,499 | -€6,021 | -30.8% |
| Remuneration and social security | 454/9 | €2,800 | €2,800 | = | 0.0% |
| Other amounts payable | 47/48 | €25,415 | €0 | -€25,415 | -100% |
| Accrued charges and deferred income | 492/3 | €961 | €0 | -€961 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,615 | €5,155 | +€1,540 | +42.6% |
| Other operating charges | 640/8 | €609 | €1,107 | +€498 | +81.7% |
| Non-recurring operating charges | 66A | €1,346 | €0 | -€1,346 | -100% |
| Gross operating margin | 9900 | €62,061 | €52,193 | -€9,868 | -15.9% |
| Operating profit (loss) | 9901 | €56,491 | €45,932 | -€10,560 | -18.7% |
| Financial income | 75/76B | €172 | €986 | +€814 | +475% |
| Recurring financial income | 75 | €172 | €986 | +€814 | +475% |
| Financial charges | 65/66B | €1,194 | €1,256 | +€62 | +5.2% |
| Recurring financial charges | 65 | €1,194 | €1,256 | +€62 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | €55,468 | €45,661 | -€9,808 | -17.7% |
| Income taxes | 67/77 | €15,852 | €13,434 | -€2,418 | -15.3% |
| Profit (loss) for the period | 9904 | €39,616 | €32,227 | -€7,389 | -18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €39,616 | €32,227 | -€7,389 | -18.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.