CAVA: what changed
Two fiscal 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
CAVA
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€267,603
2024 · €186,896+€80,707
Equity
€4.5m
2024 · €4.2m+€267,603
Cash
€126,300
2024 · €13,152+€113,147
Balance sheet total
€11.7m
2024 · €11.6m+€171,987
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Reserves +€267,603
up €267,603 (+14.4%), from €1.9m to €2.1m
of which Distributable reserves: +€267,603
- Debts after one year -€156,744
down €156,744 (-3.4%), from €4.6m to €4.5m
of which Financial debts: -€156,744
Income statement
- Gross operating margin +€79,010
up €79,010 (+10.8%), from €729,407 to €808,418
- Depreciation +€19,587
up €19,587 (+6.8%), from €287,159 to €306,745
- Taxes -€14,910
down €14,910 (-22.0%), from €67,737 to €52,826
- Financial charges -€8,335
down €8,335 (-5.8%), from €144,203 to €135,868
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
€186,896
Gross operating margin
+€79,010
Depreciation
-€19,587
Other operating charges
-€1,971
Financial income
+€9
Financial charges
+€8,335
Taxes
+€14,910
Result 2025
€267,603
Cash bridge derived
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
+€573,307
Investment
-€360,292
Financing
-€99,868
Cash 2024
€13,152
From operations (derived)
+€573,307
Net result for the year
+€267,603
Depreciation
+€306,745
Receivables within one year
-€4,657
Deferred charges and accrued income
-€636
Provisions
-€8,405
Trade debts
+€55,562
Tax, wage and social debts
-€2,690
Other debts
-€31,322
Accrued charges and deferred income
-€8,893
Investment (derived)
-€360,292
Investment in fixed assets (net)
-€360,292
Financing
-€99,868
Debts after one year
-€156,744
Current portion of long-term debt
+€31,639
Short-term financial debts
+€25,237
Cash 2025
€126,300
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,574,306 | €11,746,293 | +€171,987 | +1.5% |
| Fixed assets | 21/28 | €11,457,418 | €11,510,965 | +€53,546 | +0.5% |
| Tangible fixed assets | 22/27 | €11,457,418 | €11,510,965 | +€53,546 | +0.5% |
| Land and buildings | 22 | €11,444,626 | €11,499,681 | +€55,055 | +0.5% |
| Plant, machinery and equipment | 23 | €12,793 | €11,284 | -€1,509 | -11.8% |
| Current assets | 29/58 | €116,888 | €235,328 | +€118,440 | +101.3% |
| Amounts receivable within one year | 40/41 | €97,627 | €102,284 | +€4,657 | +4.8% |
| Trade receivables | 40 | €87,883 | €65,007 | -€22,876 | -26.0% |
| Other amounts receivable | 41 | €9,744 | €37,278 | +€27,533 | +282.6% |
| Cash at bank and in hand | 54/58 | €13,152 | €126,300 | +€113,147 | +860.3% |
| Deferred charges and accrued income | 490/1 | €6,108 | €6,744 | +€636 | +10.4% |
| Total equity and liabilities | 10/49 | €11,574,306 | €11,746,293 | +€171,987 | +1.5% |
| Equity | 10/15 | €4,208,169 | €4,475,772 | +€267,603 | +6.4% |
| Contributions | 10/11 | €2,349,000 | €2,349,000 | = | 0.0% |
| Reserves | 13 | €1,859,169 | €2,126,772 | +€267,603 | +14.4% |
| Tax-exempt reserves | 132 | €10,677 | €10,677 | = | 0.0% |
| Distributable reserves | 133 | €1,848,492 | €2,116,095 | +€267,603 | +14.5% |
| Provisions and deferred taxes | 16 | €162,704 | €154,300 | -€8,405 | -5.2% |
| Deferred taxes | 168 | €162,704 | €154,300 | -€8,405 | -5.2% |
| Amounts payable | 17/49 | €7,203,433 | €7,116,221 | -€87,212 | -1.2% |
| Amounts payable after more than one year | 17 | €4,640,300 | €4,483,556 | -€156,744 | -3.4% |
| Financial debts | 170/4 | €2,815,300 | €2,658,556 | -€156,744 | -5.6% |
| Other amounts payable | 178/9 | €1,825,000 | €1,825,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,554,240 | €2,632,665 | +€78,426 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €407,744 | €439,383 | +€31,639 | +7.8% |
| Financial debts | 43 | - | €25,237 | +€25,237 | |
| Credit institutions | 430/8 | - | €25,237 | +€25,237 | |
| Trade debts | 44 | €1,344 | €56,906 | +€55,562 | +4133.0% |
| Suppliers | 440/4 | €1,344 | €56,906 | +€55,562 | +4133.0% |
| Taxes, remuneration and social security | 45 | €5,988 | €3,298 | -€2,690 | -44.9% |
| Taxes | 450/3 | €5,988 | €3,298 | -€2,690 | -44.9% |
| Other amounts payable | 47/48 | €2,139,164 | €2,107,842 | -€31,322 | -1.5% |
| Accrued charges and deferred income | 492/3 | €8,893 | €0 | -€8,893 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €287,159 | €306,745 | +€19,587 | +6.8% |
| Other operating charges | 640/8 | €51,818 | €53,789 | +€1,971 | +3.8% |
| Gross operating margin | 9900 | €729,407 | €808,418 | +€79,010 | +10.8% |
| Operating profit (loss) | 9901 | €390,431 | €447,883 | +€57,453 | +14.7% |
| Financial income | 75/76B | - | €9 | +€9 | |
| Recurring financial income | 75 | - | €9 | +€9 | |
| Financial charges | 65/66B | €144,203 | €135,868 | -€8,335 | -5.8% |
| Recurring financial charges | 65 | €144,203 | €135,868 | -€8,335 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €246,228 | €312,025 | +€65,797 | +26.7% |
| Transfer from deferred taxes | 780 | €8,405 | €8,405 | = | 0.0% |
| Income taxes | 67/77 | €67,737 | €52,826 | -€14,910 | -22.0% |
| Profit (loss) for the period | 9904 | €186,896 | €267,603 | +€80,707 | +43.2% |
| Profit (loss) for the period to be appropriated | 9905 | €186,896 | €267,603 | +€80,707 | +43.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.