C.V.M.: 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.
What changed
C.V.M.
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1,918
2024 · €238+€1,679
Equity
€525,721
2024 · €523,803+€1,918
Cash
€1,881
2024 · €138+€1,743
Balance sheet total
€1.6m
2024 · €1.4m+€136,793
Largest movements
Assets
- Tangible fixed assets +€119,962
up €119,962 (+10.1%), from €1.2m to €1.3m
of which Land and buildings: +€97,668
Equity and liabilities
- Trade debts +€132,942
up €132,942 (+42.4%), from €313,281 to €446,223
Income statement
- Other operating charges -€8,146
down €8,146 (-85.3%), from €9,549 to €1,402
- Staff costs +€4,071
up €4,071 (+15.6%), from €26,144 to €30,216
- Financial charges +€2,014
up €2,014 (+5.7%), from €35,631 to €37,645
- Gross operating margin +€997
up €997 (+1.4%), from €71,375 to €72,372
- Financial income -€912
down €912 (-32.9%), from €2,771 to €1,859
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.
Result 2024
€238
Gross operating margin
+€997
Staff costs
-€4,071
Depreciation
+€893
Provisions
-€675
Other operating charges
+€8,146
Financial income
-€912
Financial charges
-€2,014
Taxes
-€684
Result 2025
€1,918
raises the resultlowers the result
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.
From operations
+€124,037
Investment
-€122,294
Financing
€0
Cash 2024
€138
From operations (derived)
+€124,037
Net result for the year
+€1,918
Depreciation
+€2,332
Receivables within one year
-€13,233
Deferred charges and accrued income
-€1,855
Trade debts
+€132,942
Tax, wage and social debts
-€2,854
Accrued charges and deferred income
+€4,788
Investment (derived)
-€122,294
Investment in fixed assets (net)
-€122,294
Cash 2025
€1,881
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,441,397 | €1,578,190 | +€136,793 | +9.5% |
| Fixed assets | 21/28 | €1,191,646 | €1,311,608 | +€119,962 | +10.1% |
| Tangible fixed assets | 22/27 | €1,185,448 | €1,305,411 | +€119,962 | +10.1% |
| Land and buildings | 22 | €186,317 | €283,986 | +€97,668 | +52.4% |
| Other tangible fixed assets | 26 | €999,131 | €1,021,425 | +€22,294 | +2.2% |
| Financial fixed assets | 28 | €6,197 | €6,197 | = | 0.0% |
| Current assets | 29/58 | €249,751 | €266,582 | +€16,831 | +6.7% |
| Amounts receivable within one year | 40/41 | €230,449 | €243,682 | +€13,233 | +5.7% |
| Trade receivables | 40 | €73,785 | €129,270 | +€55,485 | +75.2% |
| Other amounts receivable | 41 | €156,663 | €114,411 | -€42,252 | -27.0% |
| Cash at bank and in hand | 54/58 | €138 | €1,881 | +€1,743 | +1,259% |
| Deferred charges and accrued income | 490/1 | €19,164 | €21,019 | +€1,855 | +9.7% |
| Total equity and liabilities | 10/49 | €1,441,397 | €1,578,190 | +€136,793 | +9.5% |
| Equity | 10/15 | €523,803 | €525,721 | +€1,918 | +0.4% |
| Contributions | 10/11 | €93,600 | €93,600 | = | 0.0% |
| Reserves | 13 | €430,249 | €430,249 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,360 | €9,360 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,360 | €9,360 | = | 0.0% |
| Distributable reserves | 133 | €420,889 | €420,889 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€45 | €1,872 | +€1,918 | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €917,594 | €1,052,469 | +€134,876 | +14.7% |
| Amounts payable after more than one year | 17 | €100,000 | €100,000 | = | 0.0% |
| Financial debts | 170/4 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €817,594 | €947,682 | +€130,088 | +15.9% |
| Financial debts | 43 | €500,000 | €500,000 | = | 0.0% |
| Credit institutions | 430/8 | €500,000 | €500,000 | = | 0.0% |
| Trade debts | 44 | €313,281 | €446,223 | +€132,942 | +42.4% |
| Suppliers | 440/4 | €313,281 | €446,223 | +€132,942 | +42.4% |
| Taxes, remuneration and social security | 45 | €4,313 | €1,459 | -€2,854 | -66.2% |
| Taxes | 450/3 | €34 | €1,423 | +€1,389 | +4,105% |
| Remuneration and social security | 454/9 | €4,279 | €36 | -€4,243 | -99.2% |
| Accrued charges and deferred income | 492/3 | - | €4,788 | +€4,788 | |
| Non-recurring operating income | 76A | €22,294 | €22,294 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €26,144 | €30,216 | +€4,071 | +15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,225 | €2,332 | -€893 | -27.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€675 | €0 | +€675 | |
| Other operating charges | 640/8 | €9,549 | €1,402 | -€8,146 | -85.3% |
| Gross operating margin | 9900 | €71,375 | €72,372 | +€997 | +1.4% |
| Operating profit (loss) | 9901 | €33,132 | €38,422 | +€5,290 | +16.0% |
| Financial income | 75/76B | €2,771 | €1,859 | -€912 | -32.9% |
| Recurring financial income | 75 | €2,771 | €1,859 | -€912 | -32.9% |
| Financial charges | 65/66B | €35,631 | €37,645 | +€2,014 | +5.7% |
| Recurring financial charges | 65 | €35,631 | €37,645 | +€2,014 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | €272 | €2,636 | +€2,364 | +868% |
| Income taxes | 67/77 | €34 | €718 | +€684 | +2,023% |
| Profit (loss) for the period | 9904 | €238 | €1,918 | +€1,679 | +704% |
| Profit (loss) for the period to be appropriated | 9905 | €238 | €1,918 | +€1,679 | +704% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.