CAVALLO WORKWEAR: what changed
CAVALLO WORKWEAR
Largest movements
- Financial fixed assets -€89,366
down €89,366 (-95.3%), from €93,806 to €4,440
- Cash -€38,070
down €38,070 (-26.3%), from €144,522 to €106,452
mainly Net result for the year (-€168,985) and Trade debts (-€82,369)
- Stocks and contracts +€30,821
up €30,821 (+18.5%), from €166,538 to €197,359
- Receivables within one year +€25,619
up €25,619 (+5.2%), from €492,618 to €518,236
of which Trade receivables: +€41,198
- Reserves -€168,985
down €168,985 (-62.3%), from €271,111 to €102,126
- Tax, wage and social debts +€93,043
up €93,043 (+86.2%), from €107,950 to €200,993
of which Taxes: +€62,448
- Trade debts -€82,369
down €82,369 (-20.9%), from €394,807 to €312,438
- Accrued charges and deferred income +€53,719
up €53,719 (+421%), from €12,745 to €66,464
- Short-term financial debts +€49,494
up €49,494 (+65.1%), from €76,053 to €125,546
- Staff costs +€139,731
up €139,731 (+52.7%), from €264,951 to €404,681
- Financial charges +€105,188
up €105,188 (+2,941%), from €3,577 to €108,765
of which Non-recurring financial charges: +€92,264
- Gross operating margin +€61,086
up €61,086 (+19.6%), from €311,495 to €372,580
- Depreciation +€18,460
up €18,460 (+185%), from €9,953 to €28,413
- Financial income +€8,910
up €8,910 (+1,145%), from €778 to €9,688
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,090,123 | €1,008,799 | -€81,324 | -7.5% |
| Fixed assets | 21/28 | €286,195 | €186,501 | -€99,693 | -34.8% |
| Intangible fixed assets | 21 | €99,342 | €92,815 | -€6,526 | -6.6% |
| Tangible fixed assets | 22/27 | €93,047 | €89,246 | -€3,801 | -4.1% |
| Plant, machinery and equipment | 23 | €1,412 | €12,174 | +€10,761 | +762% |
| Furniture and vehicles | 24 | €76,398 | €64,534 | -€11,864 | -15.5% |
| Other tangible fixed assets | 26 | €15,237 | €12,539 | -€2,698 | -17.7% |
| Financial fixed assets | 28 | €93,806 | €4,440 | -€89,366 | -95.3% |
| Current assets | 29/58 | €803,928 | €822,297 | +€18,369 | +2.3% |
| Stocks and contracts in progress | 3 | €166,538 | €197,359 | +€30,821 | +18.5% |
| Stocks | 30/36 | €166,538 | €197,359 | +€30,821 | +18.5% |
| Amounts receivable within one year | 40/41 | €492,618 | €518,236 | +€25,619 | +5.2% |
| Trade receivables | 40 | €460,725 | €501,924 | +€41,198 | +8.9% |
| Other amounts receivable | 41 | €31,892 | €16,313 | -€15,580 | -48.9% |
| Current investments | 50/53 | €250 | €250 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €144,522 | €106,452 | -€38,070 | -26.3% |
| Total equity and liabilities | 10/49 | €1,090,123 | €1,008,799 | -€81,324 | -7.5% |
| Equity | 10/15 | €289,711 | €120,726 | -€168,985 | -58.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €271,111 | €102,126 | -€168,985 | -62.3% |
| Distributable reserves | 133 | €271,111 | €102,126 | -€168,985 | -62.3% |
| Amounts payable | 17/49 | €800,412 | €888,073 | +€87,661 | +11.0% |
| Amounts payable after more than one year | 17 | €172,549 | €172,549 | = | 0.0% |
| Financial debts | 170/4 | €172,549 | €172,549 | = | 0.0% |
| Amounts payable within one year | 42/48 | €615,118 | €649,060 | +€33,942 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €26,039 | €8,938 | -€17,102 | -65.7% |
| Financial debts | 43 | €76,053 | €125,546 | +€49,494 | +65.1% |
| Credit institutions | 430/8 | €76,053 | €125,546 | +€49,494 | +65.1% |
| Trade debts | 44 | €394,807 | €312,438 | -€82,369 | -20.9% |
| Suppliers | 440/4 | €394,807 | €312,438 | -€82,369 | -20.9% |
| Taxes, remuneration and social security | 45 | €107,950 | €200,993 | +€93,043 | +86.2% |
| Taxes | 450/3 | €65,748 | €128,197 | +€62,448 | +95.0% |
| Remuneration and social security | 454/9 | €42,201 | €72,796 | +€30,595 | +72.5% |
| Other amounts payable | 47/48 | €10,269 | €1,145 | -€9,124 | -88.9% |
| Accrued charges and deferred income | 492/3 | €12,745 | €66,464 | +€53,719 | +421% |
| Remuneration, social security and pensions | 62 | €264,951 | €404,681 | +€139,731 | +52.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,953 | €28,413 | +€18,460 | +185% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €601 | - | -€601 | |
| Other operating charges | 640/8 | €945 | €9,108 | +€8,163 | +864% |
| Gross operating margin | 9900 | €311,495 | €372,580 | +€61,086 | +19.6% |
| Operating profit (loss) | 9901 | €35,045 | -€69,622 | -€104,668 | |
| Financial income | 75/76B | €778 | €9,688 | +€8,910 | +1,145% |
| Recurring financial income | 75 | €778 | €9,688 | +€8,910 | +1,145% |
| Financial charges | 65/66B | €3,577 | €108,765 | +€105,188 | +2,941% |
| Recurring financial charges | 65 | €3,577 | €16,501 | +€12,924 | +361% |
| Non-recurring financial charges | 66B | - | €92,264 | +€92,264 | |
| Profit (loss) for the period before taxes | 9903 | €32,247 | -€168,700 | -€200,946 | |
| Income taxes | 67/77 | €5,070 | €285 | -€4,785 | -94.4% |
| Profit (loss) for the period | 9904 | €27,176 | -€168,985 | -€196,161 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,176 | -€168,985 | -€196,161 |
Next steps
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.