Cavdarli: 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.
Cavdarli
Largest movements
- Tangible fixed assets +€3.1m
up €3.1m (+15,628%), from €19,841 to €3.1m
of which Land and buildings: +€3.1m
- Cash -€116,048
down €116,048 (-42.5%), from €272,823 to €156,776
mainly Investment in fixed assets (net) (-€3.1m) and Current portion of long-term debt (-€70,890)
- Debts after one year +€2.4m
up €2.4m (+124%), from €2.0m to €4.4m
- Reserves +€457,990
up €457,990 (+67.1%), from €682,749 to €1.1m
- Other debts +€112,904
up €112,904 (+212%), from €53,339 to €166,242
- Advances received +€110,000
up €110,000 (+122%), from €90,000 to €200,000
- Current portion of long-term debt -€70,890
down €70,890 (-17.5%), from €405,012 to €334,121
- Financial charges +€59,444
up €59,444 (+335%), from €17,737 to €77,181
- Taxes -€22,397
down €22,397 (-19.4%), from €115,534 to €93,137
- Financial income -€20,000
down €20,000 (-5.0%), from €400,000 to €380,000
- Other operating charges +€12,496
up €12,496 (+107%), from €11,708 to €24,204
- Gross operating margin +€9,976
up €9,976 (+3.0%), from €331,431 to €341,408
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 | €3,358,015 | €6,372,397 | +€3.0m | +89.8% |
| Fixed assets | 21/28 | €3,019,841 | €6,120,581 | +€3.1m | +103% |
| Tangible fixed assets | 22/27 | €19,841 | €3,120,581 | +€3.1m | +15,628% |
| Land and buildings | 22 | - | €3,104,094 | +€3.1m | |
| Furniture and vehicles | 24 | €4,941 | €1,588 | -€3,354 | -67.9% |
| Other tangible fixed assets | 26 | €14,900 | €14,900 | = | 0.0% |
| Financial fixed assets | 28 | €3,000,000 | €3,000,000 | = | 0.0% |
| Current assets | 29/58 | €338,173 | €251,816 | -€86,357 | -25.5% |
| Amounts receivable within one year | 40/41 | €65,350 | €91,535 | +€26,185 | +40.1% |
| Trade receivables | 40 | €65,350 | €91,535 | +€26,185 | +40.1% |
| Cash at bank and in hand | 54/58 | €272,823 | €156,776 | -€116,048 | -42.5% |
| Deferred charges and accrued income | 490/1 | - | €3,506 | +€3,506 | |
| Total equity and liabilities | 10/49 | €3,358,015 | €6,372,397 | +€3.0m | +89.8% |
| Equity | 10/15 | €690,804 | €1,148,794 | +€457,990 | +66.3% |
| Contributions | 10/11 | €8,055 | €8,055 | = | 0.0% |
| Reserves | 13 | €682,749 | €1,140,739 | +€457,990 | +67.1% |
| Distributable reserves | 133 | €682,749 | €1,140,739 | +€457,990 | +67.1% |
| Amounts payable | 17/49 | €2,667,211 | €5,223,603 | +€2.6m | +95.8% |
| Amounts payable after more than one year | 17 | €1,953,156 | €4,369,034 | +€2.4m | +124% |
| Financial debts | 170/4 | €1,953,156 | €4,369,034 | +€2.4m | +124% |
| Amounts payable within one year | 42/48 | €714,055 | €854,569 | +€140,514 | +19.7% |
| Current portion of amounts payable after more than one year | 42 | €405,012 | €334,121 | -€70,890 | -17.5% |
| Trade debts | 44 | €16,425 | €31,365 | +€14,939 | +91.0% |
| Suppliers | 440/4 | €16,425 | €31,365 | +€14,939 | +91.0% |
| Advances received on contracts in progress | 46 | €90,000 | €200,000 | +€110,000 | +122% |
| Taxes, remuneration and social security | 45 | €149,280 | €122,840 | -€26,439 | -17.7% |
| Taxes | 450/3 | €143,052 | €116,272 | -€26,780 | -18.7% |
| Remuneration and social security | 454/9 | €6,228 | €6,568 | +€340 | +5.5% |
| Other amounts payable | 47/48 | €53,339 | €166,242 | +€112,904 | +212% |
| Remuneration, social security and pensions | 62 | €61,082 | €56,461 | -€4,621 | -7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,156 | €12,434 | +€7,277 | +141% |
| Other operating charges | 640/8 | €11,708 | €24,204 | +€12,496 | +107% |
| Gross operating margin | 9900 | €331,431 | €341,408 | +€9,976 | +3.0% |
| Operating profit (loss) | 9901 | €253,485 | €248,309 | -€5,176 | -2.0% |
| Financial income | 75/76B | €400,000 | €380,000 | -€20,000 | -5.0% |
| Recurring financial income | 75 | €400,000 | €380,000 | -€20,000 | -5.0% |
| Financial charges | 65/66B | €17,737 | €77,181 | +€59,444 | +335% |
| Recurring financial charges | 65 | €17,737 | €77,181 | +€59,444 | +335% |
| Profit (loss) for the period before taxes | 9903 | €635,748 | €551,127 | -€84,621 | -13.3% |
| Income taxes | 67/77 | €115,534 | €93,137 | -€22,397 | -19.4% |
| Profit (loss) for the period | 9904 | €520,214 | €457,990 | -€62,223 | -12.0% |
| Profit (loss) for the period to be appropriated | 9905 | €520,214 | €457,990 | -€62,223 | -12.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.