CAVELL DEVELOPMENT: 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.
CAVELL DEVELOPMENT
Largest movements
- Tangible fixed assets +€1.4m
up €1.4m (+51.9%), from €2.7m to €4.0m
- Other debts +€1.3m
up €1.3m (+62.9%), from €2.1m to €3.5m
- Debts after one year +€426,413
up €426,413 (+91.1%), from €467,879 to €894,292
of which Financial debts: +€415,413
- Profit (loss) carried forward -€299,951
down €299,951 (-83.0%), from -€361,569 to -€661,520
- Trade debts -€45,202
down €45,202 (-62.5%), from €72,339 to €27,137
- Depreciation +€208,993
up €208,993 (+410%), from €51,033 to €260,026
- Gross operating margin +€37,239
up €37,239 (+78.2%), from -€47,630 to -€10,391
- Other operating charges +€14,612
up €14,612 (+295%), from €4,961 to €19,573
- Financial charges +€1,132
up €1,132 (+12.8%), from €8,829 to €9,961
- Financial income -€881
no longer reported in 2025 (was €881)
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 | €3,049,938 | €4,478,542 | +€1.4m | +46.8% |
| Fixed assets | 21/28 | €2,663,919 | €4,046,425 | +€1.4m | +51.9% |
| Tangible fixed assets | 22/27 | €2,663,919 | €4,046,425 | +€1.4m | +51.9% |
| Land and buildings | 22 | €2,663,919 | €4,046,425 | +€1.4m | +51.9% |
| Current assets | 29/58 | €386,018 | €432,117 | +€46,099 | +11.9% |
| Stocks and contracts in progress | 3 | - | €43,500 | +€43,500 | |
| Stocks | 30/36 | - | €43,500 | +€43,500 | |
| Amounts receivable within one year | 40/41 | €7,747 | €5,619 | -€2,128 | -27.5% |
| Other amounts receivable | 41 | €7,747 | €5,619 | -€2,128 | -27.5% |
| Cash at bank and in hand | 54/58 | €378,271 | €382,671 | +€4,400 | +1.2% |
| Deferred charges and accrued income | 490/1 | - | €327 | +€327 | |
| Total equity and liabilities | 10/49 | €3,049,938 | €4,478,542 | +€1.4m | +46.8% |
| Equity | 10/15 | €318,109 | €18,158 | -€299,951 | -94.3% |
| Contributions | 10/11 | €318,600 | €318,600 | = | 0.0% |
| Revaluation surpluses | 12 | €361,078 | €361,078 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€361,569 | -€661,520 | -€299,951 | -83.0% |
| Amounts payable | 17/49 | €2,731,829 | €4,460,384 | +€1.7m | +63.3% |
| Amounts payable after more than one year | 17 | €467,879 | €894,292 | +€426,413 | +91.1% |
| Financial debts | 170/4 | €467,879 | €883,292 | +€415,413 | +88.8% |
| Other amounts payable | 178/9 | - | €11,000 | +€11,000 | |
| Amounts payable within one year | 42/48 | €2,263,950 | €3,534,842 | +€1.3m | +56.1% |
| Current portion of amounts payable after more than one year | 42 | €33,955 | €34,587 | +€632 | +1.9% |
| Trade debts | 44 | €72,339 | €27,137 | -€45,202 | -62.5% |
| Suppliers | 440/4 | €72,339 | €27,137 | -€45,202 | -62.5% |
| Taxes, remuneration and social security | 45 | €33,872 | €12,704 | -€21,168 | -62.5% |
| Taxes | 450/3 | €33,872 | €12,704 | -€21,168 | -62.5% |
| Other amounts payable | 47/48 | €2,123,783 | €3,460,414 | +€1.3m | +62.9% |
| Accrued charges and deferred income | 492/3 | - | €31,250 | +€31,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,033 | €260,026 | +€208,993 | +410% |
| Other operating charges | 640/8 | €4,961 | €19,573 | +€14,612 | +295% |
| Gross operating margin | 9900 | -€47,630 | -€10,391 | +€37,239 | +78.2% |
| Operating profit (loss) | 9901 | -€103,624 | -€289,990 | -€186,367 | -180% |
| Financial income | 75/76B | €881 | - | -€881 | |
| Recurring financial income | 75 | €881 | - | -€881 | |
| Financial charges | 65/66B | €8,829 | €9,961 | +€1,132 | +12.8% |
| Recurring financial charges | 65 | €8,829 | €9,961 | +€1,132 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | -€111,571 | -€299,951 | -€188,380 | -169% |
| Profit (loss) for the period | 9904 | -€111,571 | -€299,951 | -€188,380 | -169% |
| Profit (loss) for the period to be appropriated | 9905 | -€111,571 | -€299,951 | -€188,380 | -169% |
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 15 October 2026 via checked.be.