CAVE A TERTOUS: 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.
CAVE A TERTOUS
Largest movements
- Tangible fixed assets -€3,100
down €3,100 (-10.8%), from €28,656 to €25,556
- Stocks and contracts -€1,448
down €1,448 (-19.9%), from €7,290 to €5,842
- Receivables within one year -€988
down €988 (-81.8%), from €1,207 to €219
of which Trade receivables: -€1,034
- Cash +€753
up €753 (+28.5%), from €2,645 to €3,398
mainly Depreciation (+€3,100) and Stocks and contracts (+€1,448)
- Profit (loss) carried forward -€3,657
down €3,657, from €1,079 to -€2,578
- Trade debts -€905
down €905 (-78.3%), from €1,155 to €251
of which Bills of exchange payable: -€532
- Tax, wage and social debts -€645
down €645 (-53.0%), from €1,216 to €571
- Other debts +€424
up €424 (+1.2%), from €34,848 to €35,272
- Gross operating margin -€4,732
down €4,732 (-90.8%), from €5,209 to €478
- Depreciation +€756
up €756 (+32.2%), from €2,344 to €3,100
- Taxes -€360
no longer reported in 2025 (was €360)
- Other operating charges -€281
down €281 (-22.5%), from €1,248 to €967
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 | €40,298 | €35,516 | -€4,782 | -11.9% |
| Fixed assets | 21/28 | €29,156 | €26,056 | -€3,100 | -10.6% |
| Tangible fixed assets | 22/27 | €28,656 | €25,556 | -€3,100 | -10.8% |
| Plant, machinery and equipment | 23 | €28,656 | €25,556 | -€3,100 | -10.8% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €11,142 | €9,460 | -€1,682 | -15.1% |
| Stocks and contracts in progress | 3 | €7,290 | €5,842 | -€1,448 | -19.9% |
| Stocks | 30/36 | €7,290 | €5,842 | -€1,448 | -19.9% |
| Amounts receivable within one year | 40/41 | €1,207 | €219 | -€988 | -81.8% |
| Trade receivables | 40 | €1,207 | €173 | -€1,034 | -85.7% |
| Other amounts receivable | 41 | - | €46 | +€46 | |
| Cash at bank and in hand | 54/58 | €2,645 | €3,398 | +€753 | +28.5% |
| Total equity and liabilities | 10/49 | €40,298 | €35,516 | -€4,782 | -11.9% |
| Equity | 10/15 | €3,079 | -€578 | -€3,657 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,079 | -€2,578 | -€3,657 | |
| Amounts payable | 17/49 | €37,220 | €36,094 | -€1,126 | -3.0% |
| Amounts payable within one year | 42/48 | €37,220 | €36,094 | -€1,126 | -3.0% |
| Trade debts | 44 | €1,155 | €251 | -€905 | -78.3% |
| Suppliers | 440/4 | €623 | €251 | -€372 | -59.8% |
| Bills of exchange payable | 441 | €532 | - | -€532 | |
| Taxes, remuneration and social security | 45 | €1,216 | €571 | -€645 | -53.0% |
| Taxes | 450/3 | €1,216 | €571 | -€645 | -53.0% |
| Other amounts payable | 47/48 | €34,848 | €35,272 | +€424 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,344 | €3,100 | +€756 | +32.2% |
| Other operating charges | 640/8 | €1,248 | €967 | -€281 | -22.5% |
| Non-recurring operating charges | 66A | €186 | - | -€186 | |
| Gross operating margin | 9900 | €5,209 | €478 | -€4,732 | -90.8% |
| Operating profit (loss) | 9901 | €1,431 | -€3,590 | -€5,020 | |
| Financial income | 75/76B | €84 | €43 | -€42 | -49.4% |
| Recurring financial income | 75 | €84 | €43 | -€42 | -49.4% |
| Financial charges | 65/66B | €76 | €109 | +€33 | +43.2% |
| Recurring financial charges | 65 | €76 | €109 | +€33 | +43.2% |
| Profit (loss) for the period before taxes | 9903 | €1,438 | -€3,657 | -€5,095 | |
| Income taxes | 67/77 | €360 | - | -€360 | |
| Profit (loss) for the period | 9904 | €1,079 | -€3,657 | -€4,736 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,079 | -€3,657 | -€4,736 |
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 23 October 2026 via checked.be.