C.V.D.: what changed
Two fiscal 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.
C.V.D.
Largest movements
- Cash -€22,951
down €22,951 (-88.8%), from €25,836 to €2,885
mainly Receivables within one year (-€16,371) and Trade debts (-€11,162)
- Receivables within one year +€16,371
up €16,371 (+1033.9%), from €1,583 to €17,954
of which Trade receivables: +€16,353
- Stocks and contracts -€5,107
down €5,107 (-8.7%), from €58,825 to €53,718
- Tangible fixed assets -€3,701
down €3,701 (-6.4%), from €57,767 to €54,066
of which Plant, machinery and equipment: -€2,765
- Reserves +€22,397
new in 2025: €22,397
- Profit (loss) carried forward -€21,314
no longer reported in 2025 (was €21,314)
- Trade debts -€11,162
down €11,162 (-91.9%), from €12,150 to €988
- Other debts -€5,331
down €5,331 (-29.1%), from €18,322 to €12,991
- Turnover +€40,261
new in 2025: €40,261
- Purchases and services +€22,666
new in 2025: €22,666
- Gross operating margin -€12,767
down €12,767 (-50.6%), from €25,254 to €12,487
- Taxes -€1,140
down €1,140 (-77.3%), from €1,475 to €335
- Financial charges -€610
down €610 (-10.7%), from €5,704 to €5,095
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 | €144,736 | €129,073 | -€15,663 | -10.8% |
| Fixed assets | 21/28 | €57,767 | €54,066 | -€3,701 | -6.4% |
| Tangible fixed assets | 22/27 | €57,767 | €54,066 | -€3,701 | -6.4% |
| Plant, machinery and equipment | 23 | €12,406 | €9,641 | -€2,765 | -22.3% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €45,361 | €44,425 | -€936 | -2.1% |
| Current assets | 29/58 | €86,969 | €75,007 | -€11,963 | -13.8% |
| Stocks and contracts in progress | 3 | €58,825 | €53,718 | -€5,107 | -8.7% |
| Stocks | 30/36 | €58,825 | €53,718 | -€5,107 | -8.7% |
| Amounts receivable within one year | 40/41 | €1,583 | €17,954 | +€16,371 | +1033.9% |
| Trade receivables | 40 | €987 | €17,339 | +€16,353 | +1657.3% |
| Other amounts receivable | 41 | €597 | €615 | +€18 | +3.0% |
| Cash at bank and in hand | 54/58 | €25,836 | €2,885 | -€22,951 | -88.8% |
| Deferred charges and accrued income | 490/1 | €725 | €450 | -€275 | -37.9% |
| Total equity and liabilities | 10/49 | €144,736 | €129,073 | -€15,663 | -10.8% |
| Equity | 10/15 | €39,914 | €40,997 | +€1,084 | +2.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €22,397 | +€22,397 | |
| Distributable reserves | 133 | - | €22,397 | +€22,397 | |
| Profit (loss) carried forward | 14 | €21,314 | - | -€21,314 | |
| Amounts payable | 17/49 | €104,822 | €88,075 | -€16,747 | -16.0% |
| Amounts payable after more than one year | 17 | €71,500 | €71,500 | = | 0.0% |
| Other amounts payable | 178/9 | €71,500 | €71,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €33,322 | €16,575 | -€16,747 | -50.3% |
| Trade debts | 44 | €12,150 | €988 | -€11,162 | -91.9% |
| Suppliers | 440/4 | €12,150 | €988 | -€11,162 | -91.9% |
| Taxes, remuneration and social security | 45 | €2,850 | €2,596 | -€254 | -8.9% |
| Taxes | 450/3 | €2,850 | €2,596 | -€254 | -8.9% |
| Other amounts payable | 47/48 | €18,322 | €12,991 | -€5,331 | -29.1% |
| Turnover | 70 | - | €40,261 | +€40,261 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €22,666 | +€22,666 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,102 | €5,575 | +€473 | +9.3% |
| Other operating charges | 640/8 | €730 | €400 | -€330 | -45.2% |
| Gross operating margin | 9900 | €25,254 | €12,487 | -€12,767 | -50.6% |
| Operating profit (loss) | 9901 | €19,423 | €6,513 | -€12,910 | -66.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -55.6% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -55.6% |
| Financial charges | 65/66B | €5,704 | €5,095 | -€610 | -10.7% |
| Recurring financial charges | 65 | €5,704 | €5,095 | -€610 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €13,718 | €1,419 | -€12,300 | -89.7% |
| Income taxes | 67/77 | €1,475 | €335 | -€1,140 | -77.3% |
| Profit (loss) for the period | 9904 | €12,243 | €1,084 | -€11,160 | -91.1% |
| Profit (loss) for the period to be appropriated | 9905 | €12,243 | €1,084 | -€11,160 | -91.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.