CAVEDA: 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.
CAVEDA
Largest movements
- Cash -€80,083
down €80,083 (-53.4%), from €149,905 to €69,822
mainly Contributions, distributions and other (-€120,000) and Receivables within one year (-€7,236)
- Receivables within one year +€7,236
up €7,236 (+35.4%), from €20,423 to €27,659
of which Other amounts receivable: +€9,458
- Tangible fixed assets -€2,333
down €2,333 (-31.5%), from €7,408 to €5,075
of which Land and buildings: -€3,203
- Profit (loss) carried forward -€67,767
down €67,767 (-43.1%), from €157,408 to €89,642
- Tax, wage and social debts -€6,080
down €6,080 (-62.0%), from €9,806 to €3,726
- Trade debts -€2,375
down €2,375 (-68.6%), from €3,462 to €1,087
- Gross operating margin -€13,510
down €13,510 (-15.3%), from €88,063 to €74,553
- Financial charges -€2,221
down €2,221 (-46.3%), from €4,802 to €2,581
- Depreciation -€1,722
down €1,722 (-27.9%), from €6,181 to €4,459
- Taxes -€1,267
down €1,267 (-7.7%), from €16,495 to €15,227
- Financial income -€908
down €908 (-60.6%), from €1,497 to €590
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 | €179,842 | €103,621 | -€76,221 | -42.4% |
| Fixed assets | 21/28 | €7,408 | €5,075 | -€2,333 | -31.5% |
| Tangible fixed assets | 22/27 | €7,408 | €5,075 | -€2,333 | -31.5% |
| Land and buildings | 22 | €3,203 | - | -€3,203 | |
| Plant, machinery and equipment | 23 | €357 | €82 | -€275 | -77.1% |
| Furniture and vehicles | 24 | €3,848 | €2,827 | -€1,021 | -26.5% |
| Other tangible fixed assets | 26 | - | €2,167 | +€2,167 | |
| Current assets | 29/58 | €172,434 | €98,546 | -€73,888 | -42.9% |
| Amounts receivable within one year | 40/41 | €20,423 | €27,659 | +€7,236 | +35.4% |
| Trade receivables | 40 | €16,186 | €13,964 | -€2,222 | -13.7% |
| Other amounts receivable | 41 | €4,237 | €13,695 | +€9,458 | +223.2% |
| Cash at bank and in hand | 54/58 | €149,905 | €69,822 | -€80,083 | -53.4% |
| Deferred charges and accrued income | 490/1 | €2,106 | €1,066 | -€1,041 | -49.4% |
| Total equity and liabilities | 10/49 | €179,842 | €103,621 | -€76,221 | -42.4% |
| Equity | 10/15 | €159,908 | €92,142 | -€67,767 | -42.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €157,408 | €89,642 | -€67,767 | -43.1% |
| Amounts payable | 17/49 | €19,934 | €11,479 | -€8,455 | -42.4% |
| Amounts payable within one year | 42/48 | €19,934 | €11,479 | -€8,455 | -42.4% |
| Financial debts | 43 | €6,667 | €6,667 | = | 0.0% |
| Other loans | 439 | €6,667 | €6,667 | = | 0.0% |
| Trade debts | 44 | €3,462 | €1,087 | -€2,375 | -68.6% |
| Suppliers | 440/4 | €3,462 | €1,087 | -€2,375 | -68.6% |
| Taxes, remuneration and social security | 45 | €9,806 | €3,726 | -€6,080 | -62.0% |
| Taxes | 450/3 | €9,806 | €3,726 | -€6,080 | -62.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,181 | €4,459 | -€1,722 | -27.9% |
| Other operating charges | 640/8 | €904 | €570 | -€334 | -37.0% |
| Non-recurring operating charges | 66A | - | €72 | +€72 | |
| Gross operating margin | 9900 | €88,063 | €74,553 | -€13,510 | -15.3% |
| Operating profit (loss) | 9901 | €80,978 | €69,452 | -€11,526 | -14.2% |
| Financial income | 75/76B | €1,497 | €590 | -€908 | -60.6% |
| Recurring financial income | 75 | €1,497 | €590 | -€908 | -60.6% |
| Financial charges | 65/66B | €4,802 | €2,581 | -€2,221 | -46.3% |
| Recurring financial charges | 65 | €4,802 | €2,581 | -€2,221 | -46.3% |
| Profit (loss) for the period before taxes | 9903 | €77,673 | €67,461 | -€10,213 | -13.1% |
| Income taxes | 67/77 | €16,495 | €15,227 | -€1,267 | -7.7% |
| Profit (loss) for the period | 9904 | €61,179 | €52,233 | -€8,945 | -14.6% |
| Profit (loss) for the period to be appropriated | 9905 | €61,179 | €52,233 | -€8,945 | -14.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.