CAVELLOR: 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.
CAVELLOR
Largest movements
- Receivables within one year -€56,672
down €56,672 (-100.0%), from €56,687 to €16
of which Other amounts receivable: -€35,638
- Tangible fixed assets -€7,049
down €7,049 (-1.4%), from €502,384 to €495,334
of which Land and buildings: -€7,679
- Debts after one year -€59,101
down €59,101 (-10.7%), from €554,297 to €495,196
- Profit (loss) carried forward -€55,179
down €55,179 (-35.2%), from -€156,671 to -€211,850
- Other debts +€44,568
new in 2025: €44,568
- Short-term financial debts -€13,871
down €13,871 (-53.9%), from €25,725 to €11,853
- Trade debts +€9,596
up €9,596 (+66.3%), from €14,477 to €24,073
- Staff costs +€28,427
new in 2025: €28,427
- Gross operating margin +€13,561
up €13,561 (+19.1%), from €71,100 to €84,661
- Financial income -€1,785
down €1,785 (-96.5%), from €1,849 to €64
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €566,004 | €499,465 | -€66,539 | -11.8% |
| Fixed assets | 21/28 | €503,384 | €496,334 | -€7,049 | -1.4% |
| Tangible fixed assets | 22/27 | €502,384 | €495,334 | -€7,049 | -1.4% |
| Land and buildings | 22 | €502,018 | €494,340 | -€7,679 | -1.5% |
| Plant, machinery and equipment | 23 | €365 | €0 | -€365 | -100% |
| Furniture and vehicles | 24 | - | €995 | +€995 | |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €62,621 | €3,131 | -€59,490 | -95.0% |
| Amounts receivable within one year | 40/41 | €56,687 | €16 | -€56,672 | -100.0% |
| Trade receivables | 40 | €21,050 | €16 | -€21,034 | -99.9% |
| Other amounts receivable | 41 | €35,638 | - | -€35,638 | |
| Deferred charges and accrued income | 490/1 | €5,934 | €3,115 | -€2,818 | -47.5% |
| Total equity and liabilities | 10/49 | €566,004 | €499,465 | -€66,539 | -11.8% |
| Equity | 10/15 | -€88,501 | -€143,679 | -€55,179 | -62.3% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€156,671 | -€211,850 | -€55,179 | -35.2% |
| Amounts payable | 17/49 | €654,505 | €643,145 | -€11,360 | -1.7% |
| Amounts payable after more than one year | 17 | €554,297 | €495,196 | -€59,101 | -10.7% |
| Financial debts | 170/4 | €554,297 | €495,196 | -€59,101 | -10.7% |
| Amounts payable within one year | 42/48 | €100,208 | €147,948 | +€47,740 | +47.6% |
| Current portion of amounts payable after more than one year | 42 | €55,686 | €59,101 | +€3,415 | +6.1% |
| Financial debts | 43 | €25,725 | €11,853 | -€13,871 | -53.9% |
| Credit institutions | 430/8 | €25,725 | €11,853 | -€13,871 | -53.9% |
| Trade debts | 44 | €14,477 | €24,073 | +€9,596 | +66.3% |
| Suppliers | 440/4 | €14,477 | €24,073 | +€9,596 | +66.3% |
| Taxes, remuneration and social security | 45 | €4,320 | €8,354 | +€4,034 | +93.4% |
| Taxes | 450/3 | €4,320 | €6,031 | +€1,710 | +39.6% |
| Remuneration and social security | 454/9 | - | €2,323 | +€2,323 | |
| Other amounts payable | 47/48 | - | €44,568 | +€44,568 | |
| Remuneration, social security and pensions | 62 | - | €28,427 | +€28,427 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,450 | €95,654 | +€204 | +0.2% |
| Other operating charges | 640/8 | €11,139 | €11,385 | +€246 | +2.2% |
| Gross operating margin | 9900 | €71,100 | €84,661 | +€13,561 | +19.1% |
| Operating profit (loss) | 9901 | -€35,489 | -€50,805 | -€15,316 | -43.2% |
| Financial income | 75/76B | €1,849 | €64 | -€1,785 | -96.5% |
| Recurring financial income | 75 | €1,849 | €64 | -€1,785 | -96.5% |
| Financial charges | 65/66B | €4,330 | €4,185 | -€145 | -3.4% |
| Recurring financial charges | 65 | €4,330 | €4,185 | -€145 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | -€37,970 | -€54,926 | -€16,956 | -44.7% |
| Income taxes | 67/77 | €240 | €253 | +€13 | +5.2% |
| Profit (loss) for the period | 9904 | -€38,210 | -€55,179 | -€16,969 | -44.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,210 | -€55,179 | -€16,969 | -44.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.