C.V.G.: 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.
C.V.G.
Largest movements
- Cash +€127,486
up €127,486 (+74.9%), from €170,302 to €297,788
mainly Net result for the year (+€125,186) and Tax, wage and social debts (+€20,040)
- Receivables within one year +€12,255
up €12,255 (+407%), from €3,011 to €15,266
of which Other amounts receivable: +€7,559
- Tangible fixed assets -€6,143
down €6,143 (-20.3%), from €30,284 to €24,141
of which Furniture and vehicles: -€4,015
- Reserves +€125,186
up €125,186 (+76.5%), from €163,748 to €288,933
- Tax, wage and social debts +€20,040
up €20,040 (+129%), from €15,589 to €35,630
of which Taxes: +€14,040
- Other debts -€9,160
down €9,160 (-56.2%), from €16,312 to €7,152
- Gross operating margin +€50,874
up €50,874 (+41.7%), from €122,053 to €172,927
- Taxes +€11,566
up €11,566 (+45.7%), from €25,317 to €36,882
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 | €203,598 | €338,207 | +€134,609 | +66.1% |
| Fixed assets | 21/28 | €30,284 | €24,141 | -€6,143 | -20.3% |
| Tangible fixed assets | 22/27 | €30,284 | €24,141 | -€6,143 | -20.3% |
| Plant, machinery and equipment | 23 | €904 | - | -€904 | |
| Furniture and vehicles | 24 | €25,510 | €21,495 | -€4,015 | -15.7% |
| Other tangible fixed assets | 26 | €3,871 | €2,647 | -€1,224 | -31.6% |
| Current assets | 29/58 | €173,314 | €314,065 | +€140,752 | +81.2% |
| Amounts receivable within one year | 40/41 | €3,011 | €15,266 | +€12,255 | +407% |
| Trade receivables | 40 | €2,966 | €7,661 | +€4,696 | +158% |
| Other amounts receivable | 41 | €46 | €7,605 | +€7,559 | +16,501% |
| Cash at bank and in hand | 54/58 | €170,302 | €297,788 | +€127,486 | +74.9% |
| Deferred charges and accrued income | 490/1 | - | €1,011 | +€1,011 | |
| Total equity and liabilities | 10/49 | €203,598 | €338,207 | +€134,609 | +66.1% |
| Equity | 10/15 | €168,748 | €293,933 | +€125,186 | +74.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €163,748 | €288,933 | +€125,186 | +76.5% |
| Distributable reserves | 133 | €163,748 | €288,933 | +€125,186 | +76.5% |
| Amounts payable | 17/49 | €34,850 | €44,273 | +€9,423 | +27.0% |
| Amounts payable within one year | 42/48 | €34,850 | €44,273 | +€9,423 | +27.0% |
| Trade debts | 44 | €2,949 | €1,491 | -€1,457 | -49.4% |
| Suppliers | 440/4 | €2,949 | €1,491 | -€1,457 | -49.4% |
| Taxes, remuneration and social security | 45 | €15,589 | €35,630 | +€20,040 | +129% |
| Taxes | 450/3 | €15,589 | €29,630 | +€14,040 | +90.1% |
| Remuneration and social security | 454/9 | - | €6,000 | +€6,000 | |
| Other amounts payable | 47/48 | €16,312 | €7,152 | -€9,160 | -56.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,035 | €9,643 | +€608 | +6.7% |
| Other operating charges | 640/8 | €1,329 | €933 | -€396 | -29.8% |
| Gross operating margin | 9900 | €122,053 | €172,927 | +€50,874 | +41.7% |
| Operating profit (loss) | 9901 | €111,689 | €162,351 | +€50,662 | +45.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €255 | €283 | +€28 | +10.9% |
| Recurring financial charges | 65 | €255 | €283 | +€28 | +10.9% |
| Profit (loss) for the period before taxes | 9903 | €111,434 | €162,068 | +€50,635 | +45.4% |
| Income taxes | 67/77 | €25,317 | €36,882 | +€11,566 | +45.7% |
| Profit (loss) for the period | 9904 | €86,117 | €125,186 | +€39,069 | +45.4% |
| Profit (loss) for the period to be appropriated | 9905 | €86,117 | €125,186 | +€39,069 | +45.4% |
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 13 October 2026 via checked.be.