Cavam: 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.
Cavam
Largest movements
- Receivables within one year -€155,174
down €155,174 (-12.7%), from €1.2m to €1.1m
of which Trade receivables: -€126,860
- Cash -€151,825
down €151,825 (-55.5%), from €273,645 to €121,820
mainly Trade debts (-€234,256) and Net result for the year (-€87,889)
- Stocks and contracts +€84,808
up €84,808 (+48.4%), from €175,360 to €260,168
of which Stocks: +€44,808
- Tangible fixed assets -€30,299
down €30,299 (-32.7%), from €92,680 to €62,381
of which Leasing and similar rights: -€26,390
- Trade debts -€234,256
down €234,256 (-35.5%), from €660,363 to €426,107
- Other debts +€100,500
new in 2025: €100,500
- Profit (loss) carried forward -€87,889
down €87,889 (-16.4%), from €536,154 to €448,265
- Debts after one year -€19,115
down €19,115 (-72.2%), from €26,458 to €7,342
- Staff costs +€130,857
up €130,857 (+15.2%), from €863,015 to €993,872
- Gross operating margin -€30,958
down €30,958 (-3.0%), from €1.0m to €984,762
- Taxes -€26,313
down €26,313 (-95.9%), from €27,443 to €1,130
- Depreciation -€11,749
down €11,749 (-21.7%), from €54,242 to €42,493
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 | €1,833,003 | €1,592,764 | -€240,238 | -13.1% |
| Fixed assets | 21/28 | €96,656 | €66,357 | -€30,299 | -31.3% |
| Tangible fixed assets | 22/27 | €92,680 | €62,381 | -€30,299 | -32.7% |
| Plant, machinery and equipment | 23 | €12,526 | €15,425 | +€2,899 | +23.1% |
| Furniture and vehicles | 24 | €13,650 | €6,842 | -€6,808 | -49.9% |
| Leasing and similar rights | 25 | €66,505 | €40,114 | -€26,390 | -39.7% |
| Financial fixed assets | 28 | €3,976 | €3,976 | = | 0.0% |
| Current assets | 29/58 | €1,736,346 | €1,526,407 | -€209,939 | -12.1% |
| Stocks and contracts in progress | 3 | €175,360 | €260,168 | +€84,808 | +48.4% |
| Stocks | 30/36 | €75,360 | €120,168 | +€44,808 | +59.5% |
| Contracts in progress | 37 | €100,000 | €140,000 | +€40,000 | +40.0% |
| Amounts receivable within one year | 40/41 | €1,225,147 | €1,069,973 | -€155,174 | -12.7% |
| Trade receivables | 40 | €1,162,148 | €1,035,288 | -€126,860 | -10.9% |
| Other amounts receivable | 41 | €63,000 | €34,686 | -€28,314 | -44.9% |
| Cash at bank and in hand | 54/58 | €273,645 | €121,820 | -€151,825 | -55.5% |
| Deferred charges and accrued income | 490/1 | €62,194 | €74,445 | +€12,252 | +19.7% |
| Total equity and liabilities | 10/49 | €1,833,003 | €1,592,764 | -€240,238 | -13.1% |
| Equity | 10/15 | €1,004,303 | €916,414 | -€87,889 | -8.8% |
| Contributions | 10/11 | €126,712 | €126,712 | = | 0.0% |
| Capital | 10 | €126,712 | €126,712 | = | 0.0% |
| Issued capital | 100 | €126,712 | €126,712 | = | 0.0% |
| Reserves | 13 | €341,436 | €341,436 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,671 | €12,671 | = | 0.0% |
| Legal reserve | 130 | €12,671 | €12,671 | = | 0.0% |
| Distributable reserves | 133 | €328,765 | €328,765 | = | 0.0% |
| Profit (loss) carried forward | 14 | €536,154 | €448,265 | -€87,889 | -16.4% |
| Amounts payable | 17/49 | €828,700 | €676,351 | -€152,349 | -18.4% |
| Amounts payable after more than one year | 17 | €26,458 | €7,342 | -€19,115 | -72.2% |
| Financial debts | 170/4 | €26,458 | €7,342 | -€19,115 | -72.2% |
| Amounts payable within one year | 42/48 | €802,242 | €669,008 | -€133,234 | -16.6% |
| Current portion of amounts payable after more than one year | 42 | €25,064 | €19,115 | -€5,949 | -23.7% |
| Financial debts | 43 | €14,238 | €6,087 | -€8,151 | -57.2% |
| Credit institutions | 430/8 | €14,238 | €6,087 | -€8,151 | -57.2% |
| Trade debts | 44 | €660,363 | €426,107 | -€234,256 | -35.5% |
| Suppliers | 440/4 | €660,363 | €426,107 | -€234,256 | -35.5% |
| Taxes, remuneration and social security | 45 | €102,577 | €117,198 | +€14,621 | +14.3% |
| Taxes | 450/3 | €24,111 | €18,522 | -€5,590 | -23.2% |
| Remuneration and social security | 454/9 | €78,466 | €98,677 | +€20,211 | +25.8% |
| Other amounts payable | 47/48 | - | €100,500 | +€100,500 | |
| Remuneration, social security and pensions | 62 | €863,015 | €993,872 | +€130,857 | +15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,242 | €42,493 | -€11,749 | -21.7% |
| Other operating charges | 640/8 | €5,117 | €15,117 | +€10,000 | +195.4% |
| Gross operating margin | 9900 | €1,015,720 | €984,762 | -€30,958 | -3.0% |
| Operating profit (loss) | 9901 | €93,346 | -€66,719 | -€160,066 | |
| Financial income | 75/76B | €431 | €0 | -€431 | -100.0% |
| Recurring financial income | 75 | €431 | €0 | -€431 | -100.0% |
| Financial charges | 65/66B | €20,185 | €20,039 | -€146 | -0.7% |
| Recurring financial charges | 65 | €20,185 | €20,039 | -€146 | -0.7% |
| Profit (loss) for the period before taxes | 9903 | €73,592 | -€86,758 | -€160,351 | |
| Income taxes | 67/77 | €27,443 | €1,130 | -€26,313 | -95.9% |
| Profit (loss) for the period | 9904 | €46,149 | -€87,889 | -€134,038 | |
| Profit (loss) for the period to be appropriated | 9905 | €46,149 | -€87,889 | -€134,038 |
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.