CAVALLO BELGIUM: what changed
What changed
CAVALLO BELGIUM
NACE 43.990, Other specialised construction activities
filed annual accounts (NBB)
Net result for the year
€1,175
2024 · -€4,419+€5,595
Equity
€22,122
2024 · €20,947+€1,175
Cash
€680
2024 · €8+€672
Balance sheet total
€77,454
2024 · €78,795-€1,341
Largest movements
Assets
- Stocks and contracts -€6,500
down €6,500 (-22.3%), from €29,110 to €22,610
- Receivables within one year +€2,255
up €2,255 (+4.5%), from €49,677 to €51,932
of which Trade receivables: +€5,541
- Tangible fixed assets +€2,232
new in 2025: €2,232
Equity and liabilities
- Other debts -€9,763
down €9,763 (-19.0%), from €51,515 to €41,752
- Trade debts +€7,668
up €7,668 (+130%), from €5,912 to €13,580
of which Suppliers: +€8,727
- Profit (loss) carried forward +€1,175
up €1,175 (+61.4%), from €1,913 to €3,089
Income statement
- Gross operating margin +€6,237
up €6,237, from -€4,115 to €2,122
- Depreciation +€743
new in 2025: €743
- Other operating charges -€111
no longer reported in 2025 (was €111)
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€4,419
Gross operating margin
+€6,237
Depreciation
-€743
Other operating charges
+€111
Financial income
-€6
Financial charges
-€5
Result 2025
€1,175
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€3,647
Investment
-€2,975
Financing
€0
Cash 2024
€8
From operations (derived)
+€3,647
Net result for the year
+€1,175
Depreciation
+€743
Stocks and contracts
+€6,500
Receivables within one year
-€2,255
Trade debts
+€7,668
Tax, wage and social debts
-€421
Other debts
-€9,763
Investment (derived)
-€2,975
Investment in fixed assets (net)
-€2,975
Cash 2025
€680
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €78,795 | €77,454 | -€1,341 | -1.7% |
| Fixed assets | 21/28 | - | €2,232 | +€2,232 | |
| Tangible fixed assets | 22/27 | - | €2,232 | +€2,232 | |
| Furniture and vehicles | 24 | - | €2,232 | +€2,232 | |
| Current assets | 29/58 | €78,795 | €75,222 | -€3,573 | -4.5% |
| Stocks and contracts in progress | 3 | €29,110 | €22,610 | -€6,500 | -22.3% |
| Contracts in progress | 37 | €29,110 | €22,610 | -€6,500 | -22.3% |
| Amounts receivable within one year | 40/41 | €49,677 | €51,932 | +€2,255 | +4.5% |
| Trade receivables | 40 | €15,295 | €20,836 | +€5,541 | +36.2% |
| Other amounts receivable | 41 | €34,382 | €31,096 | -€3,286 | -9.6% |
| Cash at bank and in hand | 54/58 | €8 | €680 | +€672 | +8,606% |
| Total equity and liabilities | 10/49 | €78,795 | €77,454 | -€1,341 | -1.7% |
| Equity | 10/15 | €20,947 | €22,122 | +€1,175 | +5.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €434 | €434 | = | 0.0% |
| Non-distributable reserves | 130/1 | €434 | €434 | = | 0.0% |
| Reserves not available under the articles | 1311 | €434 | €434 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,913 | €3,089 | +€1,175 | +61.4% |
| Amounts payable | 17/49 | €57,848 | €55,332 | -€2,516 | -4.3% |
| Amounts payable within one year | 42/48 | €57,848 | €55,332 | -€2,516 | -4.3% |
| Trade debts | 44 | €5,912 | €13,580 | +€7,668 | +130% |
| Suppliers | 440/4 | €4,853 | €13,580 | +€8,727 | +180% |
| Bills of exchange payable | 441 | €1,059 | - | -€1,059 | |
| Taxes, remuneration and social security | 45 | €421 | - | -€421 | |
| Taxes | 450/3 | €421 | - | -€421 | |
| Other amounts payable | 47/48 | €51,515 | €41,752 | -€9,763 | -19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €743 | +€743 | |
| Other operating charges | 640/8 | €111 | - | -€111 | |
| Gross operating margin | 9900 | -€4,115 | €2,122 | +€6,237 | |
| Operating profit (loss) | 9901 | -€4,227 | €1,379 | +€5,606 | |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €199 | €204 | +€5 | +2.6% |
| Recurring financial charges | 65 | €199 | €204 | +€5 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | -€4,419 | €1,175 | +€5,595 | |
| Profit (loss) for the period | 9904 | -€4,419 | €1,175 | +€5,595 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,419 | €1,175 | +€5,595 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.