Cabinet CAVALIER: 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.
Cabinet CAVALIER
Largest movements
- Tangible fixed assets -€13,269
down €13,269 (-10.6%), from €124,657 to €111,388
of which Land and buildings: -€11,078
- Cash +€10,834
up €10,834 (+20.0%), from €54,120 to €64,954
mainly Depreciation (+€17,266) and Net result for the year (+€14,279)
- Receivables within one year +€6,422
new in 2025: €6,422
of which Other amounts receivable: +€5,367
- Reserves +€14,279
up €14,279 (+34.0%), from €42,037 to €56,316
- Debts after one year -€10,811
down €10,811 (-10.7%), from €100,708 to €89,897
- Tax, wage and social debts -€3,233
down €3,233 (-18.1%), from €17,827 to €14,594
of which Remuneration and social security: -€2,183
- Trade debts +€2,617
up €2,617 (+159%), from €1,650 to €4,267
- Gross operating margin -€19,123
down €19,123 (-29.8%), from €64,219 to €45,096
- Taxes -€4,526
down €4,526 (-36.5%), from €12,394 to €7,868
- Depreciation -€3,408
down €3,408 (-16.5%), from €20,674 to €17,266
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 | €179,676 | €183,720 | +€4,043 | +2.3% |
| Fixed assets | 21/28 | €125,020 | €111,751 | -€13,269 | -10.6% |
| Tangible fixed assets | 22/27 | €124,657 | €111,388 | -€13,269 | -10.6% |
| Land and buildings | 22 | €88,542 | €77,463 | -€11,078 | -12.5% |
| Plant, machinery and equipment | 23 | €31,708 | €28,833 | -€2,875 | -9.1% |
| Furniture and vehicles | 24 | €4,407 | €2,425 | -€1,983 | -45.0% |
| Other tangible fixed assets | 26 | - | €2,666 | +€2,666 | |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €54,656 | €71,969 | +€17,313 | +31.7% |
| Amounts receivable within one year | 40/41 | - | €6,422 | +€6,422 | |
| Trade receivables | 40 | - | €1,055 | +€1,055 | |
| Other amounts receivable | 41 | - | €5,367 | +€5,367 | |
| Cash at bank and in hand | 54/58 | €54,120 | €64,954 | +€10,834 | +20.0% |
| Deferred charges and accrued income | 490/1 | €536 | €592 | +€56 | +10.5% |
| Total equity and liabilities | 10/49 | €179,676 | €183,720 | +€4,043 | +2.3% |
| Equity | 10/15 | €44,037 | €58,316 | +€14,279 | +32.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €42,037 | €56,316 | +€14,279 | +34.0% |
| Distributable reserves | 133 | €42,037 | €56,316 | +€14,279 | +34.0% |
| Amounts payable | 17/49 | €135,639 | €125,403 | -€10,236 | -7.5% |
| Amounts payable after more than one year | 17 | €100,708 | €89,897 | -€10,811 | -10.7% |
| Financial debts | 170/4 | €100,708 | €89,897 | -€10,811 | -10.7% |
| Amounts payable within one year | 42/48 | €34,431 | €35,006 | +€575 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €10,555 | €10,811 | +€256 | +2.4% |
| Trade debts | 44 | €1,650 | €4,267 | +€2,617 | +159% |
| Suppliers | 440/4 | €1,650 | €4,267 | +€2,617 | +159% |
| Taxes, remuneration and social security | 45 | €17,827 | €14,594 | -€3,233 | -18.1% |
| Taxes | 450/3 | €13,444 | €12,394 | -€1,050 | -7.8% |
| Remuneration and social security | 454/9 | €4,383 | €2,200 | -€2,183 | -49.8% |
| Other amounts payable | 47/48 | €4,400 | €5,335 | +€935 | +21.3% |
| Accrued charges and deferred income | 492/3 | €500 | €500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,674 | €17,266 | -€3,408 | -16.5% |
| Other operating charges | 640/8 | €2,559 | €2,206 | -€353 | -13.8% |
| Gross operating margin | 9900 | €64,219 | €45,096 | -€19,123 | -29.8% |
| Operating profit (loss) | 9901 | €40,986 | €25,624 | -€15,362 | -37.5% |
| Financial income | 75/76B | €64 | - | -€64 | |
| Recurring financial income | 75 | €64 | - | -€64 | |
| Financial charges | 65/66B | €3,229 | €3,476 | +€247 | +7.6% |
| Recurring financial charges | 65 | €3,229 | €3,476 | +€247 | +7.6% |
| Profit (loss) for the period before taxes | 9903 | €37,820 | €22,148 | -€15,672 | -41.4% |
| Income taxes | 67/77 | €12,394 | €7,868 | -€4,526 | -36.5% |
| Profit (loss) for the period | 9904 | €25,426 | €14,279 | -€11,147 | -43.8% |
| Profit (loss) for the period to be appropriated | 9905 | €25,426 | €14,279 | -€11,147 | -43.8% |
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 21 October 2026 via checked.be.