CAVE: 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.
CAVE
Largest movements
- Cash +€101,556
up €101,556 (+197.7%), from €51,371 to €152,926
mainly Current investments (+€100,000) and Depreciation (+€33,052)
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Tangible fixed assets -€31,332
down €31,332 (-34.8%), from €90,063 to €58,731
of which Furniture and vehicles: -€31,479
- Receivables within one year -€8,451
down €8,451 (-25.3%), from €33,355 to €24,904
of which Trade receivables: -€9,915
- Reserves -€41,480
down €41,480 (-18.8%), from €220,875 to €179,395
- Other debts -€7,663
down €7,663 (-36.6%), from €20,957 to €13,294
- Trade debts +€6,941
up €6,941 (+235.1%), from €2,953 to €9,894
- Tax, wage and social debts +€6,295
up €6,295 (+131.0%), from €4,804 to €11,099
- Gross operating margin -€26,508
down €26,508 (-42.8%), from €61,992 to €35,484
- Taxes -€8,405
down €8,405 (-75.1%), from €11,187 to €2,782
- Financial charges +€2,164
up €2,164 (+514.3%), from €421 to €2,584
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 | €275,511 | €238,042 | -€37,469 | -13.6% |
| Fixed assets | 21/28 | €90,063 | €58,731 | -€31,332 | -34.8% |
| Tangible fixed assets | 22/27 | €90,063 | €58,731 | -€31,332 | -34.8% |
| Plant, machinery and equipment | 23 | €1,564 | €1,710 | +€147 | +9.4% |
| Furniture and vehicles | 24 | €88,500 | €57,021 | -€31,479 | -35.6% |
| Current assets | 29/58 | €185,447 | €179,311 | -€6,137 | -3.3% |
| Amounts receivable within one year | 40/41 | €33,355 | €24,904 | -€8,451 | -25.3% |
| Trade receivables | 40 | €25,584 | €15,670 | -€9,915 | -38.8% |
| Other amounts receivable | 41 | €7,771 | €9,235 | +€1,464 | +18.8% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €51,371 | €152,926 | +€101,556 | +197.7% |
| Deferred charges and accrued income | 490/1 | €722 | €1,480 | +€758 | +105.1% |
| Total equity and liabilities | 10/49 | €275,511 | €238,042 | -€37,469 | -13.6% |
| Equity | 10/15 | €244,811 | €203,462 | -€41,348 | -16.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €220,875 | €179,395 | -€41,480 | -18.8% |
| Distributable reserves | 133 | €220,875 | €179,395 | -€41,480 | -18.8% |
| Profit (loss) carried forward | 14 | €3,935 | €4,067 | +€132 | +3.4% |
| Amounts payable | 17/49 | €30,700 | €34,579 | +€3,879 | +12.6% |
| Amounts payable within one year | 42/48 | €28,714 | €34,287 | +€5,573 | +19.4% |
| Trade debts | 44 | €2,953 | €9,894 | +€6,941 | +235.1% |
| Suppliers | 440/4 | €2,953 | €9,894 | +€6,941 | +235.1% |
| Taxes, remuneration and social security | 45 | €4,804 | €11,099 | +€6,295 | +131.0% |
| Taxes | 450/3 | €4,804 | €11,099 | +€6,295 | +131.0% |
| Other amounts payable | 47/48 | €20,957 | €13,294 | -€7,663 | -36.6% |
| Accrued charges and deferred income | 492/3 | €1,986 | €292 | -€1,694 | -85.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,632 | €33,052 | +€421 | +1.3% |
| Other operating charges | 640/8 | €423 | €323 | -€100 | -23.5% |
| Gross operating margin | 9900 | €61,992 | €35,484 | -€26,508 | -42.8% |
| Operating profit (loss) | 9901 | €28,938 | €2,109 | -€26,829 | -92.7% |
| Financial income | 75/76B | €3,199 | €3,390 | +€191 | +6.0% |
| Recurring financial income | 75 | €3,199 | €3,390 | +€191 | +6.0% |
| Financial charges | 65/66B | €421 | €2,584 | +€2,164 | +514.3% |
| Recurring financial charges | 65 | €421 | €2,584 | +€2,164 | +514.3% |
| Profit (loss) for the period before taxes | 9903 | €31,716 | €2,914 | -€28,801 | -90.8% |
| Income taxes | 67/77 | €11,187 | €2,782 | -€8,405 | -75.1% |
| Profit (loss) for the period | 9904 | €20,529 | €132 | -€20,396 | -99.4% |
| Profit (loss) for the period to be appropriated | 9905 | €20,529 | €132 | -€20,396 | -99.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.