Cavens & Co: 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.
Cavens & Co
Largest movements
- Receivables after one year +€2.1m
new in 2025: €2.1m
- Receivables within one year -€1.9m
down €1.9m (-73.1%), from €2.6m to €706,573
of which Other amounts receivable: -€2.0m
- Tangible fixed assets -€64,779
down €64,779 (-12.9%), from €501,657 to €436,878
of which Land and buildings: -€82,401
- Debts after one year +€438,681
up €438,681 (+56.2%), from €780,798 to €1.2m
- Current portion of long-term debt -€322,667
down €322,667 (-62.6%), from €515,549 to €192,882
- Other debts +€201,610
up €201,610 (+24.2%), from €831,923 to €1.0m
- Accrued charges and deferred income -€160,372
down €160,372 (-89.9%), from €178,396 to €18,024
- Gross operating margin -€39,571
down €39,571 (-29.8%), from €132,842 to €93,271
- Taxes -€11,300
down €11,300 (-71.0%), from €15,911 to €4,611
- Financial charges -€4,885
down €4,885 (-6.0%), from €81,409 to €76,524
- Financial income +€3,558
up €3,558 (+4.0%), from €89,852 to €93,410
- Other operating charges -€2,099
down €2,099 (-20.4%), from €10,275 to €8,175
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 | €3,802,126 | €3,962,494 | +€160,368 | +4.2% |
| Fixed assets | 21/28 | €1,161,781 | €1,109,023 | -€52,758 | -4.5% |
| Intangible fixed assets | 21 | - | €12,021 | +€12,021 | |
| Tangible fixed assets | 22/27 | €501,657 | €436,878 | -€64,779 | -12.9% |
| Land and buildings | 22 | €494,405 | €412,004 | -€82,401 | -16.7% |
| Plant, machinery and equipment | 23 | €2,067 | €3,071 | +€1,004 | +48.6% |
| Furniture and vehicles | 24 | €5,185 | €3,803 | -€1,382 | -26.7% |
| Other tangible fixed assets | 26 | - | €18,000 | +€18,000 | |
| Financial fixed assets | 28 | €660,124 | €660,124 | = | 0.0% |
| Current assets | 29/58 | €2,640,345 | €2,853,471 | +€213,125 | +8.1% |
| Amounts receivable after more than one year | 29 | - | €2,105,854 | +€2.1m | |
| Other amounts receivable | 291 | - | €2,105,854 | +€2.1m | |
| Stocks and contracts in progress | 3 | - | €37,912 | +€37,912 | |
| Stocks | 30/36 | - | €37,912 | +€37,912 | |
| Amounts receivable within one year | 40/41 | €2,629,538 | €706,573 | -€1.9m | -73.1% |
| Trade receivables | 40 | €2,106 | €38,240 | +€36,133 | +1,716% |
| Other amounts receivable | 41 | €2,627,432 | €668,334 | -€2.0m | -74.6% |
| Cash at bank and in hand | 54/58 | €10,807 | €2,711 | -€8,097 | -74.9% |
| Deferred charges and accrued income | 490/1 | - | €420 | +€420 | |
| Total equity and liabilities | 10/49 | €3,802,126 | €3,962,494 | +€160,368 | +4.2% |
| Equity | 10/15 | €1,449,385 | €1,459,685 | +€10,300 | +0.7% |
| Contributions | 10/11 | €961,973 | €961,973 | = | 0.0% |
| Capital | 10 | €961,973 | €961,973 | = | 0.0% |
| Issued capital | 100 | €961,973 | €961,973 | = | 0.0% |
| Reserves | 13 | €96,197 | €96,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €96,197 | €96,197 | = | 0.0% |
| Legal reserve | 130 | €96,197 | €96,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €391,215 | €401,515 | +€10,300 | +2.6% |
| Amounts payable | 17/49 | €2,352,741 | €2,502,809 | +€150,068 | +6.4% |
| Amounts payable after more than one year | 17 | €780,798 | €1,219,479 | +€438,681 | +56.2% |
| Financial debts | 170/4 | €780,798 | €1,219,479 | +€438,681 | +56.2% |
| Amounts payable within one year | 42/48 | €1,393,547 | €1,265,306 | -€128,241 | -9.2% |
| Current portion of amounts payable after more than one year | 42 | €515,549 | €192,882 | -€322,667 | -62.6% |
| Financial debts | 43 | €2,024 | €725 | -€1,299 | -64.2% |
| Credit institutions | 430/8 | €2,024 | €725 | -€1,299 | -64.2% |
| Trade debts | 44 | €2,885 | €14,806 | +€11,921 | +413% |
| Suppliers | 440/4 | €2,885 | €14,806 | +€11,921 | +413% |
| Taxes, remuneration and social security | 45 | €41,166 | €23,359 | -€17,806 | -43.3% |
| Taxes | 450/3 | €41,166 | €23,359 | -€17,806 | -43.3% |
| Other amounts payable | 47/48 | €831,923 | €1,033,533 | +€201,610 | +24.2% |
| Accrued charges and deferred income | 492/3 | €178,396 | €18,024 | -€160,372 | -89.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,647 | €87,071 | -€1,577 | -1.8% |
| Other operating charges | 640/8 | €10,275 | €8,175 | -€2,099 | -20.4% |
| Gross operating margin | 9900 | €132,842 | €93,271 | -€39,571 | -29.8% |
| Operating profit (loss) | 9901 | €33,920 | -€1,975 | -€35,895 | |
| Financial income | 75/76B | €89,852 | €93,410 | +€3,558 | +4.0% |
| Recurring financial income | 75 | €89,852 | €93,410 | +€3,558 | +4.0% |
| Financial charges | 65/66B | €81,409 | €76,524 | -€4,885 | -6.0% |
| Recurring financial charges | 65 | €81,409 | €76,524 | -€4,885 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €42,363 | €14,911 | -€27,452 | -64.8% |
| Income taxes | 67/77 | €15,911 | €4,611 | -€11,300 | -71.0% |
| Profit (loss) for the period | 9904 | €26,452 | €10,300 | -€16,152 | -61.1% |
| Profit (loss) for the period to be appropriated | 9905 | €26,452 | €10,300 | -€16,152 | -61.1% |
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 23 October 2026 via checked.be.