CAVALEDA: 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.
CAVALEDA
Largest movements
- Receivables after one year -€198,250
down €198,250 (-11.9%), from €1.7m to €1.5m
of which Trade receivables: -€1.7m
- Financial fixed assets +€100,060
up €100,060 (+4.7%), from €2.1m to €2.2m
- Receivables within one year +€91,844
up €91,844 (+34.2%), from €268,423 to €360,267
of which Trade receivables: +€91,945
- Other debts +€285,000
up €285,000, from €0 to €285,000
- Trade debts -€279,055
down €279,055 (-23.7%), from €1.2m to €895,996
- Debts after one year -€42,857
down €42,857 (-16.4%), from €261,905 to €219,048
of which Financial debts: -€142,857
- Gross operating margin +€198,100
up €198,100 (+177%), from €111,710 to €309,810
- Financial charges -€4,150
down €4,150 (-46.0%), from €9,024 to €4,874
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 | €4,066,207 | €4,052,979 | -€13,228 | -0.3% |
| Fixed assets | 21/28 | €2,117,092 | €2,217,152 | +€100,060 | +4.7% |
| Financial fixed assets | 28 | €2,117,092 | €2,217,152 | +€100,060 | +4.7% |
| Current assets | 29/58 | €1,949,115 | €1,835,827 | -€113,288 | -5.8% |
| Amounts receivable after more than one year | 29 | €1,662,791 | €1,464,541 | -€198,250 | -11.9% |
| Trade receivables | 290 | €1,662,791 | - | -€1.7m | |
| Other amounts receivable | 291 | - | €1,464,541 | +€1.5m | |
| Amounts receivable within one year | 40/41 | €268,423 | €360,267 | +€91,844 | +34.2% |
| Trade receivables | 40 | €268,301 | €360,245 | +€91,945 | +34.3% |
| Other amounts receivable | 41 | €122 | €21 | -€101 | -82.5% |
| Cash at bank and in hand | 54/58 | €9,847 | €11,019 | +€1,172 | +11.9% |
| Deferred charges and accrued income | 490/1 | €8,055 | €0 | -€8,055 | -100% |
| Total equity and liabilities | 10/49 | €4,066,207 | €4,052,979 | -€13,228 | -0.3% |
| Equity | 10/15 | €2,485,141 | €2,488,294 | +€3,153 | +0.1% |
| Contributions | 10/11 | €752,000 | €752,000 | = | 0.0% |
| Reserves | 13 | €1,733,141 | €1,736,294 | +€3,153 | +0.2% |
| Non-distributable reserves | 130/1 | €75,200 | €75,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €75,200 | €75,200 | = | 0.0% |
| Distributable reserves | 133 | €1,657,941 | €1,661,094 | +€3,153 | +0.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,581,065 | €1,564,684 | -€16,381 | -1.0% |
| Amounts payable after more than one year | 17 | €261,905 | €219,048 | -€42,857 | -16.4% |
| Financial debts | 170/4 | €261,905 | €119,048 | -€142,857 | -54.5% |
| Other amounts payable | 178/9 | - | €100,000 | +€100,000 | |
| Amounts payable within one year | 42/48 | €1,319,161 | €1,341,137 | +€21,976 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €144,110 | €142,857 | -€1,252 | -0.9% |
| Trade debts | 44 | €1,175,051 | €895,996 | -€279,055 | -23.7% |
| Suppliers | 440/4 | €1,175,051 | €895,996 | -€279,055 | -23.7% |
| Taxes, remuneration and social security | 45 | €0 | €17,284 | +€17,284 | |
| Taxes | 450/3 | €0 | €17,284 | +€17,284 | |
| Other amounts payable | 47/48 | €0 | €285,000 | +€285,000 | |
| Accrued charges and deferred income | 492/3 | - | €4,500 | +€4,500 | |
| Other operating charges | 640/8 | €36,610 | €37,759 | +€1,149 | +3.1% |
| Gross operating margin | 9900 | €111,710 | €309,810 | +€198,100 | +177% |
| Operating profit (loss) | 9901 | €75,100 | €272,050 | +€196,950 | +262% |
| Financial income | 75/76B | €41,186 | €38,473 | -€2,713 | -6.6% |
| Recurring financial income | 75 | €41,186 | €38,473 | -€2,713 | -6.6% |
| Financial charges | 65/66B | €9,024 | €4,874 | -€4,150 | -46.0% |
| Recurring financial charges | 65 | €9,024 | €4,874 | -€4,150 | -46.0% |
| Profit (loss) for the period before taxes | 9903 | €107,262 | €305,650 | +€198,388 | +185% |
| Income taxes | 67/77 | €19,652 | €17,497 | -€2,155 | -11.0% |
| Profit (loss) for the period | 9904 | €87,610 | €288,153 | +€200,543 | +229% |
| Profit (loss) for the period to be appropriated | 9905 | €87,610 | €288,153 | +€200,543 | +229% |
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 18 October 2026 via checked.be.