C.V.R.: 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.R.
NACE 77.320, Rental and leasing activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€3.1m
2024 · €1.9m+€1.2m
Equity
€10.1m
2024 · €7.0m+€3.1m
Cash
€268,347
2024 · €80,958+€187,390
Balance sheet total
€13.7m
2024 · €8.5m+€5.2m
Largest movements
Assets
- Receivables within one year +€4.8m
up €4.8m (+65.9%), from €7.2m to €12.0m
of which Trade receivables: +€4.3m
- Tangible fixed assets +€423,880
up €423,880 (+42.3%), from €1.0m to €1.4m
of which Plant, machinery and equipment: +€460,375
- Cash +€187,390
up €187,390 (+231%), from €80,958 to €268,347
mainly Net result for the year (+€3.1m) and Trade debts (+€1.7m)
Equity and liabilities
- Reserves +€3.1m
up €3.1m (+44.9%), from €6.9m to €10.1m
- Trade debts +€1.7m
up €1.7m (+230%), from €753,894 to €2.5m
- Tax, wage and social debts +€351,870
up €351,870 (+162%), from €217,356 to €569,226
- Debts after one year -€178,626
down €178,626 (-53.0%), from €336,890 to €158,264
Income statement
- Turnover +€13.5m
new in 2025: €13.5m
- Goods and materials +€8.6m
new in 2025: €8.6m
- Gross operating margin -€3.0m
no longer reported in 2025 (was €3.0m)
- Services and other goods +€1.2m
new in 2025: €1.2m
- Financial income +€846,036
up €846,036 (+5,298%), from €15,970 to €862,006
of which Non-recurring financial income: +€827,712
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
€1.9m
Turnover
+€13.5m
Other operating income
+€330,070
Goods and materials
-€8.6m
Services and other goods
-€1.2m
Staff costs
+€64
Depreciation
-€410,394
Other operating charges
-€11,609
Other operating items
-€3.0m
Financial income
+€846,036
Financial charges
-€12,662
Taxes
-€145,590
Result 2025
€3.1m
raises the resultlowers the resultnot broken down further in the accounts
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
+€1.4m
Investment
-€1.2m
Financing
-€19,385
Cash 2024
€80,958
From operations (derived)
+€1.4m
Net result for the year
+€3.1m
Depreciation
+€829,643
Smaller working-capital items
+€1,213
Receivables within one year
-€4.8m
Deferred charges and accrued income
+€115,383
Trade debts
+€1.7m
Tax, wage and social debts
+€351,870
Accrued charges and deferred income
+€41,087
Investment (derived)
-€1.2m
Investment in fixed assets (net)
-€1.2m
Financing
-€19,385
Debts after one year
-€178,626
Current portion of long-term debt
+€129,241
Short-term financial debts
+€30,000
Cash 2025
€268,347
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,501,187 | €13,731,098 | +€5.2m | +61.5% |
| Fixed assets | 21/28 | €1,027,224 | €1,427,104 | +€399,880 | +38.9% |
| Tangible fixed assets | 22/27 | €1,003,224 | €1,427,104 | +€423,880 | +42.3% |
| Plant, machinery and equipment | 23 | €565,709 | €1,026,084 | +€460,375 | +81.4% |
| Furniture and vehicles | 24 | €437,515 | €401,020 | -€36,495 | -8.3% |
| Financial fixed assets | 28 | €24,000 | €0 | -€24,000 | -100% |
| Affiliated companies | 280/1 | - | €0 | = | |
| Participating interests | 280 | - | €0 | = | |
| Current assets | 29/58 | €7,473,962 | €12,303,994 | +€4.8m | +64.6% |
| Amounts receivable after more than one year | 29 | €11,175 | €11,580 | +€405 | +3.6% |
| Other amounts receivable | 291 | €11,175 | €11,580 | +€405 | +3.6% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €7,219,149 | €11,976,768 | +€4.8m | +65.9% |
| Trade receivables | 40 | €6,879,096 | €11,160,242 | +€4.3m | +62.2% |
| Other amounts receivable | 41 | €340,052 | €816,526 | +€476,474 | +140% |
| Cash at bank and in hand | 54/58 | €80,958 | €268,347 | +€187,390 | +231% |
| Deferred charges and accrued income | 490/1 | €162,681 | €47,298 | -€115,383 | -70.9% |
| Total equity and liabilities | 10/49 | €8,501,187 | €13,731,098 | +€5.2m | +61.5% |
| Equity | 10/15 | €6,952,090 | €10,070,798 | +€3.1m | +44.9% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €6,945,790 | €10,064,498 | +€3.1m | +44.9% |
| Distributable reserves | 133 | €6,945,790 | €10,064,498 | +€3.1m | +44.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,549,097 | €3,660,300 | +€2.1m | +136% |
| Amounts payable after more than one year | 17 | €336,890 | €158,264 | -€178,626 | -53.0% |
| Financial debts | 170/4 | €336,890 | €158,264 | -€178,626 | -53.0% |
| Credit institutions | 173 | - | €158,264 | +€158,264 | |
| Amounts payable within one year | 42/48 | €1,212,207 | €3,460,950 | +€2.2m | +186% |
| Current portion of amounts payable after more than one year | 42 | €240,958 | €370,199 | +€129,241 | +53.6% |
| Financial debts | 43 | - | €30,000 | +€30,000 | |
| Credit institutions | 430/8 | - | €30,000 | +€30,000 | |
| Trade debts | 44 | €753,894 | €2,489,907 | +€1.7m | +230% |
| Suppliers | 440/4 | €753,894 | €2,489,907 | +€1.7m | +230% |
| Advances received on contracts in progress | 46 | - | €1,618 | +€1,618 | |
| Taxes, remuneration and social security | 45 | €217,356 | €569,226 | +€351,870 | +162% |
| Taxes | 450/3 | €217,356 | €569,226 | +€351,870 | +162% |
| Accrued charges and deferred income | 492/3 | - | €41,087 | +€41,087 | |
| Operating income | 70/76A | - | €13,840,774 | +€13.8m | |
| Turnover | 70 | - | €13,510,703 | +€13.5m | |
| Other operating income | 74 | - | €330,070 | +€330,070 | |
| Operating charges | 60/66A | - | €10,749,031 | +€10.7m | |
| Goods for resale, raw materials and consumables | 60 | - | €8,638,061 | +€8.6m | |
| Purchases | 600/8 | - | €8,638,061 | +€8.6m | |
| Services and other goods | 61 | - | €1,238,001 | +€1.2m | |
| Remuneration, social security and pensions | 62 | €393 | €329 | -€64 | -16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €419,249 | €829,643 | +€410,394 | +97.9% |
| Other operating charges | 640/8 | €31,387 | €42,997 | +€11,609 | +37.0% |
| Gross operating margin | 9900 | €2,993,335 | - | -€3.0m | |
| Operating profit (loss) | 9901 | €2,542,306 | €3,091,742 | +€549,436 | +21.6% |
| Financial income | 75/76B | €15,970 | €862,006 | +€846,036 | +5,298% |
| Recurring financial income | 75 | €15,970 | €34,294 | +€18,324 | +115% |
| Income from current assets | 751 | - | €34,294 | +€34,294 | |
| Other financial income | 752/9 | - | €0 | = | |
| Non-recurring financial income | 76B | - | €827,712 | +€827,712 | |
| Financial charges | 65/66B | €35,131 | €47,793 | +€12,662 | +36.0% |
| Recurring financial charges | 65 | €35,131 | €47,793 | +€12,662 | +36.0% |
| Debt charges | 650 | - | €43,696 | +€43,696 | |
| Other financial charges | 652/9 | - | €4,097 | +€4,097 | |
| Profit (loss) for the period before taxes | 9903 | €2,523,145 | €3,905,955 | +€1.4m | +54.8% |
| Income taxes | 67/77 | €641,657 | €787,247 | +€145,590 | +22.7% |
| Taxes | 670/3 | - | €787,247 | +€787,247 | |
| Profit (loss) for the period | 9904 | €1,881,488 | €3,118,708 | +€1.2m | +65.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,881,488 | €3,118,708 | +€1.2m | +65.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.