CAVACELO: 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.
CAVACELO
Largest movements
- Receivables within one year +€482,936
up €482,936 (+2830.2%), from €17,064 to €500,000
of which Other amounts receivable: +€500,000
- Cash -€130,457
down €130,457 (-50.5%), from €258,427 to €127,969
mainly Contributions, distributions and other (-€580,000) and Receivables within one year (-€482,936)
- Deferred charges and accrued income +€46,655
up €46,655 (+13.1%), from €355,626 to €402,281
- Other debts +€250,000
up €250,000 (+75.8%), from €330,000 to €580,000
- Short-term financial debts +€180,000
up €180,000 (+600.0%), from €30,000 to €210,000
- Current portion of long-term debt -€40,503
no longer reported in 2025 (was €40,503)
- Gross operating margin +€502,643
up €502,643 (+37.7%), from €1.3m to €1.8m
- Taxes +€102,764
up €102,764 (+93.0%), from €110,440 to €213,205
- Staff costs +€95,118
up €95,118 (+10.6%), from €900,477 to €995,595
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €631,927 | €1,030,250 | +€398,323 | +63.0% |
| Fixed assets | 21/28 | €811 | - | -€811 | |
| Tangible fixed assets | 22/27 | €811 | - | -€811 | |
| Furniture and vehicles | 24 | €811 | - | -€811 | |
| Current assets | 29/58 | €631,116 | €1,030,250 | +€399,134 | +63.2% |
| Amounts receivable within one year | 40/41 | €17,064 | €500,000 | +€482,936 | +2830.2% |
| Trade receivables | 40 | €17,064 | - | -€17,064 | |
| Other amounts receivable | 41 | - | €500,000 | +€500,000 | |
| Cash at bank and in hand | 54/58 | €258,427 | €127,969 | -€130,457 | -50.5% |
| Deferred charges and accrued income | 490/1 | €355,626 | €402,281 | +€46,655 | +13.1% |
| Total equity and liabilities | 10/49 | €631,927 | €1,030,250 | +€398,323 | +63.0% |
| Equity | 10/15 | €25,802 | €34,588 | +€8,786 | +34.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €5,802 | €14,588 | +€8,786 | +151.4% |
| Distributable reserves | 133 | €5,802 | €14,588 | +€8,786 | +151.4% |
| Amounts payable | 17/49 | €606,124 | €995,662 | +€389,538 | +64.3% |
| Amounts payable within one year | 42/48 | €604,518 | €994,623 | +€390,105 | +64.5% |
| Current portion of amounts payable after more than one year | 42 | €40,503 | - | -€40,503 | |
| Financial debts | 43 | €30,000 | €210,000 | +€180,000 | +600.0% |
| Credit institutions | 430/8 | €30,000 | €210,000 | +€180,000 | +600.0% |
| Trade debts | 44 | €35,172 | €29,959 | -€5,213 | -14.8% |
| Suppliers | 440/4 | €35,172 | €29,959 | -€5,213 | -14.8% |
| Taxes, remuneration and social security | 45 | €168,843 | €174,665 | +€5,821 | +3.4% |
| Taxes | 450/3 | €27,207 | €81,385 | +€54,178 | +199.1% |
| Remuneration and social security | 454/9 | €141,637 | €93,280 | -€48,357 | -34.1% |
| Other amounts payable | 47/48 | €330,000 | €580,000 | +€250,000 | +75.8% |
| Accrued charges and deferred income | 492/3 | €1,606 | €1,039 | -€567 | -35.3% |
| Remuneration, social security and pensions | 62 | €900,477 | €995,595 | +€95,118 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,556 | €811 | -€746 | -47.9% |
| Other operating charges | 640/8 | €935 | €855 | -€81 | -8.6% |
| Gross operating margin | 9900 | €1,331,919 | €1,834,562 | +€502,643 | +37.7% |
| Operating profit (loss) | 9901 | €428,950 | €837,301 | +€408,351 | +95.2% |
| Financial income | 75/76B | €698 | €1,201 | +€504 | +72.2% |
| Recurring financial income | 75 | €698 | €1,201 | +€504 | +72.2% |
| Financial charges | 65/66B | €33,248 | €36,512 | +€3,264 | +9.8% |
| Recurring financial charges | 65 | €33,248 | €36,512 | +€3,264 | +9.8% |
| Profit (loss) for the period before taxes | 9903 | €396,399 | €801,990 | +€405,591 | +102.3% |
| Income taxes | 67/77 | €110,440 | €213,205 | +€102,764 | +93.0% |
| Profit (loss) for the period | 9904 | €285,959 | €588,786 | +€302,827 | +105.9% |
| Profit (loss) for the period to be appropriated | 9905 | €285,959 | €588,786 | +€302,827 | +105.9% |
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 30 September 2026 via checked.be.