C.V.E.: 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.E.
Largest movements
- Tangible fixed assets +€12,856
up €12,856 (+1.8%), from €733,111 to €745,967
of which Furniture and vehicles: +€36,139
- Profit (loss) carried forward +€10,992
no longer reported in 2025 (was -€10,992)
- Gross operating margin +€12,452
up €12,452 (+27.9%), from €44,688 to €57,140
- Depreciation +€5,537
up €5,537 (+22.1%), from €25,103 to €30,639
- Taxes +€1,003
up €1,003 (+28.2%), from €3,556 to €4,559
- Financial income -€771
down €771 (-36.0%), from €2,143 to €1,372
- Other operating charges +€633
up €633 (+11.2%), from €5,644 to €6,277
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 | €854,827 | €863,722 | +€8,895 | +1.0% |
| Fixed assets | 21/28 | €734,044 | €746,900 | +€12,856 | +1.8% |
| Tangible fixed assets | 22/27 | €733,111 | €745,967 | +€12,856 | +1.8% |
| Land and buildings | 22 | €731,225 | €707,942 | -€23,283 | -3.2% |
| Furniture and vehicles | 24 | €1,886 | €38,026 | +€36,139 | +1915.9% |
| Financial fixed assets | 28 | €933 | €933 | = | 0.0% |
| Current assets | 29/58 | €120,783 | €116,822 | -€3,961 | -3.3% |
| Amounts receivable within one year | 40/41 | €9,566 | €2,429 | -€7,137 | -74.6% |
| Trade receivables | 40 | €9,166 | - | -€9,166 | |
| Other amounts receivable | 41 | €400 | €2,429 | +€2,029 | +507.2% |
| Current investments | 50/53 | €102,000 | €110,350 | +€8,350 | +8.2% |
| Cash at bank and in hand | 54/58 | €8,657 | €2,584 | -€6,073 | -70.1% |
| Deferred charges and accrued income | 490/1 | €559 | €1,459 | +€900 | +160.8% |
| Total equity and liabilities | 10/49 | €854,827 | €863,722 | +€8,895 | +1.0% |
| Equity | 10/15 | €792,090 | €808,215 | +€16,125 | +2.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €784,532 | €789,665 | +€5,134 | +0.7% |
| Distributable reserves | 133 | €784,532 | €789,665 | +€5,134 | +0.7% |
| Profit (loss) carried forward | 14 | -€10,992 | - | +€10,992 | |
| Amounts payable | 17/49 | €62,737 | €55,507 | -€7,230 | -11.5% |
| Amounts payable after more than one year | 17 | €52,800 | €46,200 | -€6,600 | -12.5% |
| Financial debts | 170/4 | €52,800 | €46,200 | -€6,600 | -12.5% |
| Amounts payable within one year | 42/48 | €8,269 | €6,747 | -€1,522 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €6,600 | €6,600 | = | 0.0% |
| Trade debts | 44 | €279 | €147 | -€132 | -47.4% |
| Suppliers | 440/4 | €279 | €147 | -€132 | -47.4% |
| Taxes, remuneration and social security | 45 | €1,390 | - | -€1,390 | |
| Taxes | 450/3 | €1,390 | - | -€1,390 | |
| Accrued charges and deferred income | 492/3 | €1,668 | €2,560 | +€892 | +53.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,103 | €30,639 | +€5,537 | +22.1% |
| Other operating charges | 640/8 | €5,644 | €6,277 | +€633 | +11.2% |
| Non-recurring operating charges | 66A | €3,697 | - | -€3,697 | |
| Gross operating margin | 9900 | €44,688 | €57,140 | +€12,452 | +27.9% |
| Operating profit (loss) | 9901 | €10,244 | €20,223 | +€9,979 | +97.4% |
| Financial income | 75/76B | €2,143 | €1,372 | -€771 | -36.0% |
| Recurring financial income | 75 | €2,143 | €1,372 | -€771 | -36.0% |
| Financial charges | 65/66B | €1,013 | €911 | -€102 | -10.1% |
| Recurring financial charges | 65 | €1,013 | €911 | -€102 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €11,374 | €20,684 | +€9,310 | +81.9% |
| Income taxes | 67/77 | €3,556 | €4,559 | +€1,003 | +28.2% |
| Profit (loss) for the period | 9904 | €7,818 | €16,125 | +€8,307 | +106.2% |
| Profit (loss) for the period to be appropriated | 9905 | €7,818 | €16,125 | +€8,307 | +106.2% |
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 5 October 2026 via checked.be.