CAVENAILE: 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.
CAVENAILE
Largest movements
- Receivables within one year -€110,409
down €110,409 (-23.0%), from €479,676 to €369,267
of which Other amounts receivable: -€70,725
- Cash -€81,199
down €81,199 (-15.7%), from €515,775 to €434,577
mainly Other debts (-€242,610) and Contributions, distributions and other (-€215,577)
- Tangible fixed assets +€43,235
up €43,235 (+57.4%), from €75,319 to €118,554
of which Furniture and vehicles: +€49,678
- Other debts -€242,610
down €242,610 (-63.0%), from €385,041 to €142,431
- Profit (loss) carried forward +€66,197
up €66,197 (+18.0%), from €367,343 to €433,540
- Trade debts -€57,487
down €57,487 (-28.4%), from €202,509 to €145,022
- Tax, wage and social debts +€49,647
up €49,647 (+120%), from €41,419 to €91,066
of which Taxes: +€51,518
- Debts after one year +€33,222
up €33,222 (+127%), from €26,246 to €59,468
- Gross operating margin +€152,399
up €152,399 (+27.0%), from €563,776 to €716,175
- Staff costs +€62,654
up €62,654 (+27.5%), from €227,620 to €290,274
- Taxes +€17,836
up €17,836 (+21.3%), from €83,735 to €101,572
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 | €1,079,028 | €930,606 | -€148,422 | -13.8% |
| Fixed assets | 21/28 | €77,374 | €120,609 | +€43,235 | +55.9% |
| Tangible fixed assets | 22/27 | €75,319 | €118,554 | +€43,235 | +57.4% |
| Plant, machinery and equipment | 23 | €15,558 | €11,647 | -€3,910 | -25.1% |
| Furniture and vehicles | 24 | €38,635 | €88,313 | +€49,678 | +129% |
| Other tangible fixed assets | 26 | €21,126 | €18,594 | -€2,533 | -12.0% |
| Financial fixed assets | 28 | €2,055 | €2,055 | = | 0.0% |
| Current assets | 29/58 | €1,001,654 | €809,997 | -€191,657 | -19.1% |
| Amounts receivable within one year | 40/41 | €479,676 | €369,267 | -€110,409 | -23.0% |
| Trade receivables | 40 | €405,767 | €366,083 | -€39,684 | -9.8% |
| Other amounts receivable | 41 | €73,908 | €3,183 | -€70,725 | -95.7% |
| Cash at bank and in hand | 54/58 | €515,775 | €434,577 | -€81,199 | -15.7% |
| Deferred charges and accrued income | 490/1 | €6,203 | €6,154 | -€49 | -0.8% |
| Total equity and liabilities | 10/49 | €1,079,028 | €930,606 | -€148,422 | -13.8% |
| Equity | 10/15 | €394,422 | €460,619 | +€66,197 | +16.8% |
| Contributions | 10/11 | €8,160 | €8,160 | = | 0.0% |
| Reserves | 13 | €18,919 | €18,919 | = | 0.0% |
| Distributable reserves | 133 | €18,919 | €18,919 | = | 0.0% |
| Profit (loss) carried forward | 14 | €367,343 | €433,540 | +€66,197 | +18.0% |
| Amounts payable | 17/49 | €684,606 | €469,988 | -€214,619 | -31.3% |
| Amounts payable after more than one year | 17 | €26,246 | €59,468 | +€33,222 | +127% |
| Financial debts | 170/4 | €26,246 | €59,468 | +€33,222 | +127% |
| Amounts payable within one year | 42/48 | €658,264 | €410,520 | -€247,744 | -37.6% |
| Current portion of amounts payable after more than one year | 42 | €29,295 | €32,001 | +€2,706 | +9.2% |
| Trade debts | 44 | €202,509 | €145,022 | -€57,487 | -28.4% |
| Suppliers | 440/4 | €202,509 | €145,022 | -€57,487 | -28.4% |
| Taxes, remuneration and social security | 45 | €41,419 | €91,066 | +€49,647 | +120% |
| Taxes | 450/3 | €12,589 | €64,107 | +€51,518 | +409% |
| Remuneration and social security | 454/9 | €28,831 | €26,959 | -€1,872 | -6.5% |
| Other amounts payable | 47/48 | €385,041 | €142,431 | -€242,610 | -63.0% |
| Accrued charges and deferred income | 492/3 | €96 | - | -€96 | |
| Non-recurring operating income | 76A | €9,122 | €22,104 | +€12,983 | +142% |
| Remuneration, social security and pensions | 62 | €227,620 | €290,274 | +€62,654 | +27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,326 | €27,779 | -€5,548 | -16.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,000 | +€5,000 | |
| Other operating charges | 640/8 | €1,213 | €7,774 | +€6,562 | +541% |
| Gross operating margin | 9900 | €563,776 | €716,175 | +€152,399 | +27.0% |
| Operating profit (loss) | 9901 | €301,617 | €385,348 | +€83,731 | +27.8% |
| Financial income | 75/76B | €1,880 | €1,609 | -€271 | -14.4% |
| Recurring financial income | 75 | €1,880 | €1,609 | -€271 | -14.4% |
| Financial charges | 65/66B | €3,675 | €3,611 | -€64 | -1.7% |
| Recurring financial charges | 65 | €3,675 | €3,611 | -€64 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €299,821 | €383,345 | +€83,524 | +27.9% |
| Income taxes | 67/77 | €83,735 | €101,572 | +€17,836 | +21.3% |
| Profit (loss) for the period | 9904 | €216,086 | €281,774 | +€65,688 | +30.4% |
| Profit (loss) for the period to be appropriated | 9905 | €216,086 | €281,774 | +€65,688 | +30.4% |
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 19 October 2026 via checked.be.