CAVDAR: 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.
CAVDAR
Largest movements
- Receivables within one year +€7,787
up €7,787 (+11.4%), from €68,125 to €75,912
of which Other amounts receivable: +€8,060
- Tangible fixed assets -€3,576
down €3,576 (-59.6%), from €5,996 to €2,420
of which Furniture and vehicles: -€3,181
- Cash +€3,287
up €3,287 (+341%), from €963 to €4,249
mainly Net result for the year (+€12,396) and Depreciation (+€3,576)
- Profit (loss) carried forward +€12,396
up €12,396 (+34.2%), from €36,223 to €48,619
- Trade debts -€6,025
down €6,025 (-49.8%), from €12,105 to €6,079
- Tax, wage and social debts +€1,127
up €1,127 (+27.4%), from €4,106 to €5,232
of which Taxes: +€1,123
- Gross operating margin +€4,959
up €4,959 (+31.5%), from €15,734 to €20,693
- Taxes +€1,255
up €1,255 (+56.5%), from €2,220 to €3,476
- Other operating charges -€779
down €779 (-45.5%), from €1,713 to €935
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.
Derived cash bridge
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 | €75,393 | €82,891 | +€7,497 | +9.9% |
| Fixed assets | 21/28 | €6,305 | €2,729 | -€3,576 | -56.7% |
| Tangible fixed assets | 22/27 | €5,996 | €2,420 | -€3,576 | -59.6% |
| Plant, machinery and equipment | 23 | €844 | €637 | -€207 | -24.5% |
| Furniture and vehicles | 24 | €4,964 | €1,783 | -€3,181 | -64.1% |
| Other tangible fixed assets | 26 | €189 | - | -€189 | |
| Financial fixed assets | 28 | €309 | €309 | = | 0.0% |
| Current assets | 29/58 | €69,088 | €80,162 | +€11,074 | +16.0% |
| Amounts receivable within one year | 40/41 | €68,125 | €75,912 | +€7,787 | +11.4% |
| Trade receivables | 40 | €273 | - | -€273 | |
| Other amounts receivable | 41 | €67,852 | €75,912 | +€8,060 | +11.9% |
| Cash at bank and in hand | 54/58 | €963 | €4,249 | +€3,287 | +341% |
| Total equity and liabilities | 10/49 | €75,393 | €82,891 | +€7,497 | +9.9% |
| Equity | 10/15 | €56,683 | €69,079 | +€12,396 | +21.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,223 | €48,619 | +€12,396 | +34.2% |
| Amounts payable | 17/49 | €18,710 | €13,812 | -€4,899 | -26.2% |
| Amounts payable within one year | 42/48 | €18,710 | €13,812 | -€4,899 | -26.2% |
| Financial debts | 43 | €2,500 | €2,500 | = | 0.0% |
| Credit institutions | 430/8 | €2,500 | €2,500 | = | 0.0% |
| Trade debts | 44 | €12,105 | €6,079 | -€6,025 | -49.8% |
| Suppliers | 440/4 | €12,105 | €6,079 | -€6,025 | -49.8% |
| Taxes, remuneration and social security | 45 | €4,106 | €5,232 | +€1,127 | +27.4% |
| Taxes | 450/3 | €3,978 | €5,101 | +€1,123 | +28.2% |
| Remuneration and social security | 454/9 | €127 | €131 | +€4 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,601 | €3,576 | -€24 | -0.7% |
| Other operating charges | 640/8 | €1,713 | €935 | -€779 | -45.5% |
| Gross operating margin | 9900 | €15,734 | €20,693 | +€4,959 | +31.5% |
| Operating profit (loss) | 9901 | €10,420 | €16,182 | +€5,762 | +55.3% |
| Financial charges | 65/66B | €325 | €310 | -€16 | -4.8% |
| Recurring financial charges | 65 | €325 | €310 | -€16 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €10,094 | €15,872 | +€5,778 | +57.2% |
| Income taxes | 67/77 | €2,220 | €3,476 | +€1,255 | +56.5% |
| Profit (loss) for the period | 9904 | €7,874 | €12,396 | +€4,522 | +57.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,874 | €12,396 | +€4,522 | +57.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.