CAVAN: 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.
CAVAN
Largest movements
- Cash +€77,763
up €77,763 (+77.7%), from €100,048 to €177,812
mainly Depreciation (+€62,433) and Receivables within one year (+€33,151)
- Tangible fixed assets -€57,920
down €57,920 (-14.1%), from €409,369 to €351,449
- Receivables within one year -€33,151
down €33,151 (-51.1%), from €64,841 to €31,690
of which Other amounts receivable: -€18,385
- Stocks and contracts +€7,044
up €7,044 (+52.6%), from €13,403 to €20,447
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€31,610
down €31,610 (-30.9%), from €102,139 to €70,530
- Taxes -€7,533
down €7,533 (-76.8%), from €9,809 to €2,276
- Depreciation +€5,451
up €5,451 (+9.6%), from €56,982 to €62,433
- Financial charges -€1,817
down €1,817 (-31.1%), from €5,832 to €4,016
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 | €643,606 | €634,752 | -€8,854 | -1.4% |
| Fixed assets | 21/28 | €409,369 | €351,449 | -€57,920 | -14.1% |
| Tangible fixed assets | 22/27 | €409,369 | €351,449 | -€57,920 | -14.1% |
| Land and buildings | 22 | €12,256 | €10,581 | -€1,675 | -13.7% |
| Plant, machinery and equipment | 23 | €16,966 | €12,062 | -€4,905 | -28.9% |
| Furniture and vehicles | 24 | €134,261 | €106,895 | -€27,366 | -20.4% |
| Leasing and similar rights | 25 | €245,886 | €221,911 | -€23,974 | -9.8% |
| Current assets | 29/58 | €234,237 | €283,303 | +€49,066 | +20.9% |
| Stocks and contracts in progress | 3 | €13,403 | €20,447 | +€7,044 | +52.6% |
| Stocks | 30/36 | €13,403 | €20,447 | +€7,044 | +52.6% |
| Amounts receivable within one year | 40/41 | €64,841 | €31,690 | -€33,151 | -51.1% |
| Trade receivables | 40 | €28,689 | €13,922 | -€14,767 | -51.5% |
| Other amounts receivable | 41 | €36,153 | €17,768 | -€18,385 | -50.9% |
| Current investments | 50/53 | €50,000 | €50,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €100,048 | €177,812 | +€77,763 | +77.7% |
| Deferred charges and accrued income | 490/1 | €5,945 | €3,355 | -€2,590 | -43.6% |
| Total equity and liabilities | 10/49 | €643,606 | €634,752 | -€8,854 | -1.4% |
| Equity | 10/15 | €554,827 | €555,606 | +€779 | +0.1% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €505,068 | €505,068 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,068 | €11,068 | = | 0.0% |
| Distributable reserves | 133 | €494,000 | €494,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,299 | €30,078 | +€779 | +2.7% |
| Amounts payable | 17/49 | €88,779 | €79,147 | -€9,633 | -10.9% |
| Amounts payable after more than one year | 17 | €44,333 | €41,666 | -€2,667 | -6.0% |
| Financial debts | 170/4 | €44,333 | €41,666 | -€2,667 | -6.0% |
| Amounts payable within one year | 42/48 | €39,747 | €34,932 | -€4,816 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €6,667 | €6,667 | = | 0.0% |
| Trade debts | 44 | €11,074 | €6,690 | -€4,384 | -39.6% |
| Suppliers | 440/4 | €11,074 | €6,690 | -€4,384 | -39.6% |
| Taxes, remuneration and social security | 45 | €11,812 | €14,399 | +€2,586 | +21.9% |
| Taxes | 450/3 | €11,812 | €5,863 | -€5,949 | -50.4% |
| Remuneration and social security | 454/9 | - | €8,536 | +€8,536 | |
| Other amounts payable | 47/48 | €10,194 | €7,176 | -€3,018 | -29.6% |
| Accrued charges and deferred income | 492/3 | €4,699 | €2,549 | -€2,150 | -45.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,982 | €62,433 | +€5,451 | +9.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €383 | +€383 | |
| Other operating charges | 640/8 | €2,586 | €2,563 | -€23 | -0.9% |
| Non-recurring operating charges | 66A | €282 | - | -€282 | |
| Gross operating margin | 9900 | €102,139 | €70,530 | -€31,610 | -30.9% |
| Operating profit (loss) | 9901 | €42,290 | €5,151 | -€37,139 | -87.8% |
| Financial income | 75/76B | €1,809 | €1,920 | +€110 | +6.1% |
| Recurring financial income | 75 | €1,809 | €1,920 | +€110 | +6.1% |
| Financial charges | 65/66B | €5,832 | €4,016 | -€1,817 | -31.1% |
| Recurring financial charges | 65 | €5,832 | €4,016 | -€1,817 | -31.1% |
| Profit (loss) for the period before taxes | 9903 | €38,267 | €3,055 | -€35,212 | -92.0% |
| Income taxes | 67/77 | €9,809 | €2,276 | -€7,533 | -76.8% |
| Profit (loss) for the period | 9904 | €28,458 | €779 | -€27,679 | -97.3% |
| Profit (loss) for the period to be appropriated | 9905 | €28,458 | €779 | -€27,679 | -97.3% |
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 6 October 2026 via checked.be.