Cavast: what changed
Two financial 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.
Cavast
Largest movements
- Tangible fixed assets -€141,597
down €141,597 (-11.1%), from €1.3m to €1.1m
of which Land and buildings: -€138,002
- Debts after one year -€174,100
down €174,100 (-18.6%), from €934,531 to €760,431
- Profit (loss) carried forward +€61,037
up €61,037 (+7.3%), from -€836,844 to -€775,807
- Reserves -€45,696
down €45,696 (-8.1%), from €565,718 to €520,022
of which Tax-exempt reserves: -€45,696
- Trade debts +€24,201
up €24,201 (+9613.6%), from €252 to €24,453
- Provisions -€15,232
down €15,232 (-10.6%), from €143,616 to €128,384
- Gross operating margin +€91,783
up €91,783 (+215.8%), from €42,527 to €134,310
- Other operating charges +€9,301
up €9,301 (+36.2%), from €25,710 to €35,011
- Depreciation -€3,228
down €3,228 (-3.2%), from €100,175 to €96,948
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,293,581 | €1,142,415 | -€151,165 | -11.7% |
| Fixed assets | 21/28 | €1,280,889 | €1,139,292 | -€141,597 | -11.1% |
| Tangible fixed assets | 22/27 | €1,280,889 | €1,139,292 | -€141,597 | -11.1% |
| Land and buildings | 22 | €1,250,265 | €1,112,263 | -€138,002 | -11.0% |
| Plant, machinery and equipment | 23 | €23,704 | €20,389 | -€3,315 | -14.0% |
| Furniture and vehicles | 24 | €6,920 | €6,640 | -€280 | -4.0% |
| Current assets | 29/58 | €12,692 | €3,124 | -€9,568 | -75.4% |
| Amounts receivable within one year | 40/41 | €4,747 | €0 | -€4,747 | -100.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €4,747 | €0 | -€4,747 | -100.0% |
| Cash at bank and in hand | 54/58 | €7,945 | €3,124 | -€4,822 | -60.7% |
| Total equity and liabilities | 10/49 | €1,293,581 | €1,142,415 | -€151,165 | -11.7% |
| Equity | 10/15 | €209,398 | €224,738 | +€15,341 | +7.3% |
| Contributions | 10/11 | €480,524 | €480,524 | = | 0.0% |
| Reserves | 13 | €565,718 | €520,022 | -€45,696 | -8.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €439,899 | €394,203 | -€45,696 | -10.4% |
| Distributable reserves | 133 | €125,819 | €125,819 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€836,844 | -€775,807 | +€61,037 | +7.3% |
| Provisions and deferred taxes | 16 | €143,616 | €128,384 | -€15,232 | -10.6% |
| Deferred taxes | 168 | €143,616 | €128,384 | -€15,232 | -10.6% |
| Amounts payable | 17/49 | €940,567 | €789,293 | -€151,274 | -16.1% |
| Amounts payable after more than one year | 17 | €934,531 | €760,431 | -€174,100 | -18.6% |
| Other amounts payable | 178/9 | €934,531 | €760,431 | -€174,100 | -18.6% |
| Amounts payable within one year | 42/48 | €6,036 | €28,862 | +€22,826 | +378.1% |
| Trade debts | 44 | €252 | €24,453 | +€24,201 | +9613.6% |
| Suppliers | 440/4 | €252 | €24,453 | +€24,201 | +9613.6% |
| Taxes, remuneration and social security | 45 | €2,220 | €844 | -€1,376 | -62.0% |
| Taxes | 450/3 | €2,220 | €844 | -€1,376 | -62.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €3,565 | €3,565 | = | 0.0% |
| Non-recurring operating income | 76A | - | €83,529 | +€83,529 | |
| Remuneration, social security and pensions | 62 | €91 | €0 | -€91 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,175 | €96,948 | -€3,228 | -3.2% |
| Other operating charges | 640/8 | €25,710 | €35,011 | +€9,301 | +36.2% |
| Gross operating margin | 9900 | €42,527 | €134,310 | +€91,783 | +215.8% |
| Operating profit (loss) | 9901 | -€83,449 | €2,352 | +€85,801 | |
| Financial charges | 65/66B | €1,915 | €1,399 | -€516 | -27.0% |
| Recurring financial charges | 65 | €1,915 | €1,399 | -€516 | -27.0% |
| Profit (loss) for the period before taxes | 9903 | -€85,364 | €953 | +€86,317 | |
| Transfer from deferred taxes | 780 | €15,530 | €15,232 | -€298 | -1.9% |
| Income taxes | 67/77 | €856 | €844 | -€12 | -1.4% |
| Profit (loss) for the period | 9904 | -€70,690 | €15,341 | +€86,031 | |
| Transfer from tax-exempt reserves | 789 | €46,590 | €45,696 | -€894 | -1.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,100 | €61,037 | +€85,137 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.