BVX: 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.
BVX
Largest movements
- Receivables within one year +€148,806
up €148,806 (+239.8%), from €62,055 to €210,861
of which Trade receivables: +€153,539
- Cash +€28,546
new in 2025: €28,546
mainly Trade debts (+€106,421) and Net result for the year (+€50,532)
- Trade debts +€106,421
up €106,421 (+1217.5%), from €8,741 to €115,162
- Short-term financial debts +€35,705
up €35,705 (+85.9%), from €41,565 to €77,270
- Accrued charges and deferred income +€26,021
new in 2025: €26,021
- Other debts +€19,939
new in 2025: €19,939
- Tax, wage and social debts +€13,488
up €13,488 (+108.5%), from €12,432 to €25,920
of which Taxes: +€13,137
- Gross operating margin +€23,449
up €23,449 (+17.9%), from €131,016 to €154,465
- Staff costs -€21,786
down €21,786 (-35.8%), from €60,807 to €39,021
- Taxes +€4,534
up €4,534 (+50.4%), from €9,000 to €13,534
- Other operating charges -€3,159
down €3,159 (-70.0%), from €4,515 to €1,356
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.
Cash bridge derived
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 | €407,309 | €588,313 | +€181,005 | +44.4% |
| Fixed assets | 21/28 | €327,533 | €326,504 | -€1,029 | -0.3% |
| Intangible fixed assets | 21 | €2,750 | €2,475 | -€275 | -10.0% |
| Tangible fixed assets | 22/27 | €324,783 | €324,029 | -€754 | -0.2% |
| Land and buildings | 22 | €199,232 | €189,971 | -€9,261 | -4.6% |
| Plant, machinery and equipment | 23 | €61,388 | €69,991 | +€8,603 | +14.0% |
| Furniture and vehicles | 24 | €8,865 | €12,978 | +€4,112 | +46.4% |
| Other tangible fixed assets | 26 | €55,297 | €51,090 | -€4,207 | -7.6% |
| Current assets | 29/58 | €79,776 | €261,809 | +€182,034 | +228.2% |
| Stocks and contracts in progress | 3 | €16,659 | €18,888 | +€2,229 | +13.4% |
| Stocks | 30/36 | €16,659 | €18,888 | +€2,229 | +13.4% |
| Amounts receivable within one year | 40/41 | €62,055 | €210,861 | +€148,806 | +239.8% |
| Trade receivables | 40 | €25,545 | €179,084 | +€153,539 | +601.0% |
| Other amounts receivable | 41 | €36,509 | €31,777 | -€4,733 | -13.0% |
| Cash at bank and in hand | 54/58 | - | €28,546 | +€28,546 | |
| Deferred charges and accrued income | 490/1 | €1,062 | €3,515 | +€2,452 | +230.8% |
| Total equity and liabilities | 10/49 | €407,309 | €588,313 | +€181,005 | +44.4% |
| Equity | 10/15 | €46,633 | €47,165 | +€532 | +1.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €28,033 | €28,565 | +€532 | +1.9% |
| Distributable reserves | 133 | €28,033 | €28,565 | +€532 | +1.9% |
| Amounts payable | 17/49 | €360,675 | €541,148 | +€180,473 | +50.0% |
| Amounts payable after more than one year | 17 | €253,446 | €241,620 | -€11,826 | -4.7% |
| Financial debts | 170/4 | €253,446 | €241,620 | -€11,826 | -4.7% |
| Amounts payable within one year | 42/48 | €107,229 | €273,507 | +€166,278 | +155.1% |
| Current portion of amounts payable after more than one year | 42 | €44,491 | €35,217 | -€9,274 | -20.8% |
| Financial debts | 43 | €41,565 | €77,270 | +€35,705 | +85.9% |
| Credit institutions | 430/8 | €41,565 | €77,270 | +€35,705 | +85.9% |
| Trade debts | 44 | €8,741 | €115,162 | +€106,421 | +1217.5% |
| Suppliers | 440/4 | €8,741 | €115,162 | +€106,421 | +1217.5% |
| Taxes, remuneration and social security | 45 | €12,432 | €25,920 | +€13,488 | +108.5% |
| Taxes | 450/3 | €9,232 | €22,369 | +€13,137 | +142.3% |
| Remuneration and social security | 454/9 | €3,200 | €3,551 | +€351 | +11.0% |
| Other amounts payable | 47/48 | - | €19,939 | +€19,939 | |
| Accrued charges and deferred income | 492/3 | - | €26,021 | +€26,021 | |
| Non-recurring operating income | 76A | €1,208 | - | -€1,208 | |
| Remuneration, social security and pensions | 62 | €60,807 | €39,021 | -€21,786 | -35.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,100 | €39,625 | -€475 | -1.2% |
| Other operating charges | 640/8 | €4,515 | €1,356 | -€3,159 | -70.0% |
| Gross operating margin | 9900 | €131,016 | €154,465 | +€23,449 | +17.9% |
| Operating profit (loss) | 9901 | €25,594 | €74,463 | +€48,870 | +190.9% |
| Financial income | 75/76B | €2,300 | €2,116 | -€184 | -8.0% |
| Recurring financial income | 75 | €2,300 | €2,116 | -€184 | -8.0% |
| Financial charges | 65/66B | €11,845 | €12,514 | +€669 | +5.6% |
| Recurring financial charges | 65 | €11,845 | €12,514 | +€669 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €16,049 | €64,066 | +€48,017 | +299.2% |
| Income taxes | 67/77 | €9,000 | €13,534 | +€4,534 | +50.4% |
| Profit (loss) for the period | 9904 | €7,049 | €50,532 | +€43,483 | +616.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,049 | €50,532 | +€43,483 | +616.9% |
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 12 October 2026 via checked.be.