CAVALA: 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.
CAVALA
Largest movements
- Cash +€64,614
up €64,614 (+208%), from €31,135 to €95,749
mainly Stocks and contracts (+€44,340) and Net result for the year (+€22,731)
- Stocks and contracts -€44,340
down €44,340 (-7.7%), from €572,676 to €528,336
- Tangible fixed assets -€16,134
down €16,134 (-12.9%), from €125,250 to €109,116
of which Other tangible fixed assets: -€17,463
- Receivables within one year +€11,644
up €11,644 (+38.3%), from €30,383 to €42,027
of which Trade receivables: +€17,361
- Profit (loss) carried forward +€22,731
up €22,731 (+7.5%), from €304,739 to €327,471
- Current portion of long-term debt -€18,000
down €18,000 (-4.4%), from €409,603 to €391,603
- Trade debts +€9,943
up €9,943 (+250%), from €3,983 to €13,926
- Gross operating margin -€10,668
down €10,668 (-15.9%), from €67,274 to €56,606
- Taxes -€2,738
down €2,738 (-24.9%), from €11,011 to €8,273
- Other operating charges +€1,459
up €1,459 (+27.4%), from €5,322 to €6,781
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 | €763,988 | €781,362 | +€17,373 | +2.3% |
| Fixed assets | 21/28 | €125,250 | €109,116 | -€16,134 | -12.9% |
| Tangible fixed assets | 22/27 | €125,250 | €109,116 | -€16,134 | -12.9% |
| Plant, machinery and equipment | 23 | €266 | €1,843 | +€1,577 | +594% |
| Furniture and vehicles | 24 | €740 | €492 | -€248 | -33.5% |
| Other tangible fixed assets | 26 | €124,245 | €106,782 | -€17,463 | -14.1% |
| Current assets | 29/58 | €638,738 | €672,245 | +€33,508 | +5.2% |
| Stocks and contracts in progress | 3 | €572,676 | €528,336 | -€44,340 | -7.7% |
| Stocks | 30/36 | €572,676 | €528,336 | -€44,340 | -7.7% |
| Amounts receivable within one year | 40/41 | €30,383 | €42,027 | +€11,644 | +38.3% |
| Trade receivables | 40 | €3,950 | €21,311 | +€17,361 | +440% |
| Other amounts receivable | 41 | €26,433 | €20,716 | -€5,717 | -21.6% |
| Cash at bank and in hand | 54/58 | €31,135 | €95,749 | +€64,614 | +208% |
| Deferred charges and accrued income | 490/1 | €4,544 | €6,134 | +€1,589 | +35.0% |
| Total equity and liabilities | 10/49 | €763,988 | €781,362 | +€17,373 | +2.3% |
| Equity | 10/15 | €335,188 | €357,920 | +€22,731 | +6.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €10,449 | €10,449 | = | 0.0% |
| Tax-exempt reserves | 132 | €424 | €424 | = | 0.0% |
| Distributable reserves | 133 | €10,025 | €10,025 | = | 0.0% |
| Profit (loss) carried forward | 14 | €304,739 | €327,471 | +€22,731 | +7.5% |
| Amounts payable | 17/49 | €428,800 | €423,442 | -€5,358 | -1.2% |
| Amounts payable within one year | 42/48 | €428,800 | €423,442 | -€5,358 | -1.2% |
| Current portion of amounts payable after more than one year | 42 | €409,603 | €391,603 | -€18,000 | -4.4% |
| Trade debts | 44 | €3,983 | €13,926 | +€9,943 | +250% |
| Suppliers | 440/4 | €3,983 | €13,926 | +€9,943 | +250% |
| Taxes, remuneration and social security | 45 | €15,214 | €17,914 | +€2,699 | +17.7% |
| Taxes | 450/3 | €12,714 | €14,254 | +€1,539 | +12.1% |
| Remuneration and social security | 454/9 | €2,500 | €3,660 | +€1,160 | +46.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,043 | €18,225 | +€182 | +1.0% |
| Other operating charges | 640/8 | €5,322 | €6,781 | +€1,459 | +27.4% |
| Gross operating margin | 9900 | €67,274 | €56,606 | -€10,668 | -15.9% |
| Operating profit (loss) | 9901 | €43,910 | €31,600 | -€12,310 | -28.0% |
| Financial income | 75/76B | €1 | €0 | -€0 | -42.6% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -42.6% |
| Financial charges | 65/66B | €791 | €595 | -€196 | -24.7% |
| Recurring financial charges | 65 | €791 | €595 | -€196 | -24.7% |
| Profit (loss) for the period before taxes | 9903 | €43,119 | €31,005 | -€12,115 | -28.1% |
| Income taxes | 67/77 | €11,011 | €8,273 | -€2,738 | -24.9% |
| Profit (loss) for the period | 9904 | €32,108 | €22,731 | -€9,377 | -29.2% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €32,108 | €22,731 | -€9,377 | -29.2% |
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 13 October 2026 via checked.be.