CAVEC: 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.
CAVEC
Largest movements
- Receivables within one year +€63,892
up €63,892 (+116.2%), from €55,000 to €118,892
- Intangible fixed assets -€7,154
no longer reported in 2025 (was €7,154)
- Tangible fixed assets +€2,056
new in 2025: €2,056
- Profit (loss) carried forward +€51,690
up €51,690 (+3.0%), from -€1.7m to -€1.7m
- Current portion of long-term debt -€50,000
no longer reported in 2025 (was €50,000)
- Other debts +€41,788
up €41,788 (+489.3%), from €8,540 to €50,327
- Tax, wage and social debts +€10,493
up €10,493 (+522.1%), from €2,010 to €12,503
- Trade debts +€4,719
up €4,719 (+4837.6%), from €98 to €4,816
- Gross operating margin +€64,354
up €64,354, from -€2,793 to €61,561
- Financial charges -€3,229
down €3,229 (-59.6%), from €5,416 to €2,186
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 | €62,249 | €120,949 | +€58,700 | +94.3% |
| Fixed assets | 21/28 | €7,154 | €2,056 | -€5,098 | -71.3% |
| Intangible fixed assets | 21 | €7,154 | - | -€7,154 | |
| Tangible fixed assets | 22/27 | - | €2,056 | +€2,056 | |
| Furniture and vehicles | 24 | - | €2,056 | +€2,056 | |
| Current assets | 29/58 | €55,095 | €118,893 | +€63,798 | +115.8% |
| Amounts receivable within one year | 40/41 | €55,000 | €118,892 | +€63,892 | +116.2% |
| Other amounts receivable | 41 | €55,000 | €118,892 | +€63,892 | +116.2% |
| Cash at bank and in hand | 54/58 | €95 | €1 | -€94 | -99.4% |
| Total equity and liabilities | 10/49 | €62,249 | €120,949 | +€58,700 | +94.3% |
| Equity | 10/15 | €1,602 | €53,292 | +€51,690 | +3227.3% |
| Contributions | 10/11 | €1,600,000 | €1,600,000 | = | 0.0% |
| Reserves | 13 | €125,101 | €125,101 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €106,351 | €106,351 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,723,500 | -€1,671,810 | +€51,690 | +3.0% |
| Amounts payable | 17/49 | €60,647 | €67,657 | +€7,010 | +11.6% |
| Amounts payable within one year | 42/48 | €60,647 | €67,657 | +€7,010 | +11.6% |
| Current portion of amounts payable after more than one year | 42 | €50,000 | - | -€50,000 | |
| Financial debts | 43 | - | €10 | +€10 | |
| Credit institutions | 430/8 | - | €10 | +€10 | |
| Trade debts | 44 | €98 | €4,816 | +€4,719 | +4837.6% |
| Suppliers | 440/4 | €98 | €4,816 | +€4,719 | +4837.6% |
| Taxes, remuneration and social security | 45 | €2,010 | €12,503 | +€10,493 | +522.1% |
| Taxes | 450/3 | €2,010 | €12,503 | +€10,493 | +522.1% |
| Other amounts payable | 47/48 | €8,540 | €50,327 | +€41,788 | +489.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,154 | €7,164 | +€10 | +0.1% |
| Other operating charges | 640/8 | €189 | €520 | +€331 | +175.6% |
| Gross operating margin | 9900 | -€2,793 | €61,561 | +€64,354 | |
| Operating profit (loss) | 9901 | -€10,136 | €53,877 | +€64,013 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €5,416 | €2,186 | -€3,229 | -59.6% |
| Recurring financial charges | 65 | €5,416 | €2,186 | -€3,229 | -59.6% |
| Profit (loss) for the period before taxes | 9903 | -€15,552 | €51,690 | +€67,242 | |
| Transfer from deferred taxes | 780 | €74,773 | - | -€74,773 | |
| Profit (loss) for the period | 9904 | €59,221 | €51,690 | -€7,531 | -12.7% |
| Transfer from tax-exempt reserves | 789 | €224,319 | - | -€224,319 | |
| Profit (loss) for the period to be appropriated | 9905 | €283,539 | €51,690 | -€231,849 | -81.8% |
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 11 October 2026 via checked.be.