CAVALRY TWILL: 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.
CAVALRY TWILL
Largest movements
- Tangible fixed assets +€22,987
up €22,987 (+9.3%), from €247,152 to €270,140
of which Furniture and vehicles: +€34,437
- Cash +€11,204
up €11,204 (+29.3%), from €38,218 to €49,422
mainly Net result for the year (+€67,148) and Depreciation (+€13,013)
- Profit (loss) carried forward +€67,148
up €67,148 (+48.3%), from €139,046 to €206,194
- Debts after one year -€29,580
down €29,580 (-25.5%), from €116,197 to €86,617
- Gross operating margin -€4,792
down €4,792 (-7.4%), from €65,058 to €60,265
- Financial income +€4,042
up €4,042 (+10.7%), from €37,948 to €41,990
- Taxes -€2,087
down €2,087 (-18.6%), from €11,248 to €9,161
- Depreciation +€1,563
up €1,563 (+13.7%), from €11,450 to €13,013
- Financial charges -€1,464
down €1,464 (-18.2%), from €8,049 to €6,585
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 | €350,651 | €387,230 | +€36,579 | +10.4% |
| Fixed assets | 21/28 | €256,452 | €279,440 | +€22,987 | +9.0% |
| Tangible fixed assets | 22/27 | €247,152 | €270,140 | +€22,987 | +9.3% |
| Land and buildings | 22 | €247,152 | €235,703 | -€11,450 | -4.6% |
| Furniture and vehicles | 24 | €0 | €34,437 | +€34,437 | |
| Financial fixed assets | 28 | €9,300 | €9,300 | = | 0.0% |
| Current assets | 29/58 | €94,199 | €107,791 | +€13,592 | +14.4% |
| Amounts receivable within one year | 40/41 | €55,819 | €56,420 | +€600 | +1.1% |
| Trade receivables | 40 | €11,193 | €9,880 | -€1,313 | -11.7% |
| Other amounts receivable | 41 | €44,627 | €46,540 | +€1,913 | +4.3% |
| Cash at bank and in hand | 54/58 | €38,218 | €49,422 | +€11,204 | +29.3% |
| Deferred charges and accrued income | 490/1 | €161 | €1,950 | +€1,789 | +1109.6% |
| Total equity and liabilities | 10/49 | €350,651 | €387,230 | +€36,579 | +10.4% |
| Equity | 10/15 | €185,005 | €252,153 | +€67,148 | +36.3% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €39,709 | €39,709 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Distributable reserves | 133 | €37,834 | €37,834 | = | 0.0% |
| Profit (loss) carried forward | 14 | €139,046 | €206,194 | +€67,148 | +48.3% |
| Amounts payable | 17/49 | €165,646 | €135,077 | -€30,568 | -18.5% |
| Amounts payable after more than one year | 17 | €116,197 | €86,617 | -€29,580 | -25.5% |
| Financial debts | 170/4 | €116,197 | €86,617 | -€29,580 | -25.5% |
| Amounts payable within one year | 42/48 | €46,571 | €45,587 | -€984 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €28,078 | €29,580 | +€1,502 | +5.4% |
| Trade debts | 44 | €2,182 | €1,004 | -€1,177 | -54.0% |
| Suppliers | 440/4 | €2,182 | €1,004 | -€1,177 | -54.0% |
| Taxes, remuneration and social security | 45 | €16,311 | €15,002 | -€1,309 | -8.0% |
| Taxes | 450/3 | €16,302 | €14,993 | -€1,309 | -8.0% |
| Remuneration and social security | 454/9 | €9 | €9 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,878 | €2,874 | -€4 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,450 | €13,013 | +€1,563 | +13.7% |
| Other operating charges | 640/8 | €5,119 | €6,349 | +€1,231 | +24.0% |
| Gross operating margin | 9900 | €65,058 | €60,265 | -€4,792 | -7.4% |
| Operating profit (loss) | 9901 | €48,490 | €40,903 | -€7,586 | -15.6% |
| Financial income | 75/76B | €37,948 | €41,990 | +€4,042 | +10.7% |
| Recurring financial income | 75 | €37,948 | €41,990 | +€4,042 | +10.7% |
| Financial charges | 65/66B | €8,049 | €6,585 | -€1,464 | -18.2% |
| Recurring financial charges | 65 | €8,049 | €6,585 | -€1,464 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €78,389 | €76,309 | -€2,080 | -2.7% |
| Income taxes | 67/77 | €11,248 | €9,161 | -€2,087 | -18.6% |
| Profit (loss) for the period | 9904 | €67,141 | €67,148 | +€7 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €67,141 | €67,148 | +€7 | 0.0% |
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 4 October 2026 via checked.be.