CAVAC: 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.
CAVAC
Largest movements
- Receivables within one year -€24,482
down €24,482 (-89.7%), from €27,305 to €2,824
of which Trade receivables: -€24,394
- Tangible fixed assets -€6,179
down €6,179 (-13.8%), from €44,831 to €38,651
of which Land and buildings: -€5,039
- Cash -€2,761
down €2,761 (-48.0%), from €5,750 to €2,989
mainly Trade debts (-€16,337) and Other debts (-€12,452)
- Trade debts -€16,337
down €16,337 (-97.5%), from €16,757 to €420
- Other debts -€12,452
down €12,452 (-52.5%), from €23,728 to €11,276
- Reserves -€3,559
down €3,559 (-11.1%), from €32,162 to €28,603
- Tax, wage and social debts -€1,000
down €1,000 (-44.7%), from €2,239 to €1,239
of which Remuneration and social security: -€1,000
- Gross operating margin +€21,765
up €21,765, from -€17,841 to €3,924
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 | €77,886 | €44,538 | -€33,348 | -42.8% |
| Fixed assets | 21/28 | €44,831 | €38,651 | -€6,179 | -13.8% |
| Tangible fixed assets | 22/27 | €44,831 | €38,651 | -€6,179 | -13.8% |
| Land and buildings | 22 | €40,536 | €35,497 | -€5,039 | -12.4% |
| Furniture and vehicles | 24 | €1,976 | €1,131 | -€845 | -42.8% |
| Other tangible fixed assets | 26 | €2,318 | €2,023 | -€295 | -12.7% |
| Current assets | 29/58 | €33,055 | €5,887 | -€27,169 | -82.2% |
| Amounts receivable within one year | 40/41 | €27,305 | €2,824 | -€24,482 | -89.7% |
| Trade receivables | 40 | €26,992 | €2,597 | -€24,394 | -90.4% |
| Other amounts receivable | 41 | €314 | €227 | -€87 | -27.8% |
| Cash at bank and in hand | 54/58 | €5,750 | €2,989 | -€2,761 | -48.0% |
| Deferred charges and accrued income | 490/1 | - | €74 | +€74 | |
| Total equity and liabilities | 10/49 | €77,886 | €44,538 | -€33,348 | -42.8% |
| Equity | 10/15 | €35,162 | €31,603 | -€3,559 | -10.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €32,162 | €28,603 | -€3,559 | -11.1% |
| Distributable reserves | 133 | €32,162 | €28,603 | -€3,559 | -11.1% |
| Amounts payable | 17/49 | €42,723 | €12,935 | -€29,789 | -69.7% |
| Amounts payable within one year | 42/48 | €42,723 | €12,935 | -€29,789 | -69.7% |
| Trade debts | 44 | €16,757 | €420 | -€16,337 | -97.5% |
| Suppliers | 440/4 | €16,757 | €420 | -€16,337 | -97.5% |
| Taxes, remuneration and social security | 45 | €2,239 | €1,239 | -€1,000 | -44.7% |
| Taxes | 450/3 | €1,239 | €1,239 | = | 0.0% |
| Remuneration and social security | 454/9 | €1,000 | €0 | -€1,000 | -100% |
| Other amounts payable | 47/48 | €23,728 | €11,276 | -€12,452 | -52.5% |
| Non-recurring operating income | 76A | - | €15,498 | +€15,498 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,188 | €6,179 | -€8 | -0.1% |
| Other operating charges | 640/8 | €713 | €584 | -€129 | -18.1% |
| Gross operating margin | 9900 | -€17,841 | €3,924 | +€21,765 | |
| Operating profit (loss) | 9901 | -€24,742 | -€2,840 | +€21,902 | +88.5% |
| Financial income | 75/76B | €31 | €0 | -€31 | -100% |
| Recurring financial income | 75 | €31 | €0 | -€31 | -100% |
| Financial charges | 65/66B | €755 | €720 | -€35 | -4.6% |
| Recurring financial charges | 65 | €755 | €720 | -€35 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | -€25,465 | -€3,559 | +€21,906 | +86.0% |
| Profit (loss) for the period | 9904 | -€25,465 | -€3,559 | +€21,906 | +86.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,465 | -€3,559 | +€21,906 | +86.0% |
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 17 October 2026 via checked.be.