CAV holdco: 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.
CAV holdco
Largest movements
- Cash -€67,114
down €67,114 (-52.6%), from €127,490 to €60,376
mainly Contributions, distributions and other (-€500,000) and Provisions (-€22,862)
- Receivables within one year -€62,134
down €62,134 (-41.4%), from €149,915 to €87,781
of which Trade receivables: -€69,633
- Contributions -€500,000
down €500,000 (-80.9%), from €617,668 to €117,668
- Other debts +€411,337
up €411,337 (+75.4%), from €545,641 to €956,978
- Gross operating margin +€8,860
up €8,860 (+4.8%), from €185,816 to €194,676
- Financial charges -€7,498
down €7,498 (-4.1%), from €180,803 to €173,305
of which Financial charges: -€7,775
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 | €3,525,199 | €3,421,376 | -€103,823 | -2.9% |
| Fixed assets | 21/28 | €3,183,905 | €3,194,905 | +€11,000 | +0.3% |
| Financial fixed assets | 28 | €3,183,905 | €3,194,905 | +€11,000 | +0.3% |
| Current assets | 29/58 | €341,294 | €226,471 | -€114,823 | -33.6% |
| Stocks and contracts in progress | 3 | €63,890 | €78,315 | +€14,425 | +22.6% |
| Stocks | 30/36 | - | €78,315 | +€78,315 | |
| Contracts in progress | 37 | €63,890 | - | -€63,890 | |
| Amounts receivable within one year | 40/41 | €149,915 | €87,781 | -€62,134 | -41.4% |
| Trade receivables | 40 | €110,289 | €40,656 | -€69,633 | -63.1% |
| Other amounts receivable | 41 | €39,625 | €47,125 | +€7,499 | +18.9% |
| Cash at bank and in hand | 54/58 | €127,490 | €60,376 | -€67,114 | -52.6% |
| Total equity and liabilities | 10/49 | €3,525,199 | €3,421,376 | -€103,823 | -2.9% |
| Equity | 10/15 | €606,616 | €130,749 | -€475,867 | -78.4% |
| Contributions | 10/11 | €617,668 | €117,668 | -€500,000 | -80.9% |
| Profit (loss) carried forward | 14 | -€11,052 | €13,081 | +€24,133 | |
| Provisions and deferred taxes | 16 | €2,298,446 | €2,275,584 | -€22,862 | -1.0% |
| Provisions for liabilities and charges | 160/5 | €2,298,446 | €2,275,584 | -€22,862 | -1.0% |
| Taxes | 161 | - | €2,275,584 | +€2.3m | |
| Other liabilities and charges | 164/5 | €2,298,446 | - | -€2.3m | |
| Amounts payable | 17/49 | €620,137 | €1,015,042 | +€394,906 | +63.7% |
| Amounts payable within one year | 42/48 | €574,643 | €972,750 | +€398,108 | +69.3% |
| Trade debts | 44 | €12,719 | €2,583 | -€10,136 | -79.7% |
| Suppliers | 440/4 | €12,719 | €2,583 | -€10,136 | -79.7% |
| Taxes, remuneration and social security | 45 | €16,283 | €13,189 | -€3,094 | -19.0% |
| Taxes | 450/3 | €16,283 | €13,189 | -€3,094 | -19.0% |
| Other amounts payable | 47/48 | €545,641 | €956,978 | +€411,337 | +75.4% |
| Accrued charges and deferred income | 492/3 | €45,494 | €42,292 | -€3,202 | -7.0% |
| Other operating charges | 640/8 | €747 | €517 | -€230 | -30.8% |
| Gross operating margin | 9900 | €185,816 | €194,676 | +€8,860 | +4.8% |
| Operating profit (loss) | 9901 | €185,069 | €194,159 | +€9,090 | +4.9% |
| Financial income | 75/76B | €1,645 | €3,279 | +€1,634 | +99.3% |
| Recurring financial income | 75 | €1,645 | €3,279 | +€1,634 | +99.3% |
| Financial charges | 65/66B | €180,803 | €173,305 | -€7,498 | -4.1% |
| Recurring financial charges | 65 | €175,159 | €167,383 | -€7,775 | -4.4% |
| Non-recurring financial charges | 66B | €5,645 | €5,922 | +€277 | +4.9% |
| Profit (loss) for the period before taxes | 9903 | €5,911 | €24,133 | +€18,223 | +308% |
| Profit (loss) for the period | 9904 | €5,911 | €24,133 | +€18,223 | +308% |
| Profit (loss) for the period to be appropriated | 9905 | €5,911 | €24,133 | +€18,223 | +308% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.