CAVERMA: 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.
CAVERMA
Largest movements
- Cash +€325,217
up €325,217 (+138%), from €235,809 to €561,026
mainly Net result for the year (+€382,043) and Depreciation (+€234,625)
- Tangible fixed assets -€77,611
down €77,611 (-6.1%), from €1.3m to €1.2m
of which Plant, machinery and equipment: -€122,165
- Receivables within one year -€68,825
down €68,825 (-39.5%), from €174,225 to €105,400
of which Trade receivables: -€89,695
- Reserves +€382,043
up €382,043 (+139%), from €274,511 to €656,554
of which Distributable reserves: +€365,543
- Trade debts -€176,876
down €176,876 (-82.1%), from €215,456 to €38,580
- Debts after one year -€164,476
down €164,476 (-16.2%), from €1.0m to €852,605
of which Financial debts: -€116,476
- Tax, wage and social debts +€123,074
up €123,074 (+173%), from €70,950 to €194,024
of which Taxes: +€94,046
- Other debts -€71,344
down €71,344 (-44.9%), from €158,926 to €87,582
- Gross operating margin +€215,357
up €215,357 (+20.1%), from €1.1m to €1.3m
- Taxes +€96,896
up €96,896 (+121%), from €79,965 to €176,862
- Financial income +€87,605
up €87,605 (+101,465%), from €86 to €87,691
- Staff costs +€52,469
up €52,469 (+10.5%), from €500,387 to €552,856
- Other operating charges -€21,436
down €21,436 (-46.7%), from €45,942 to €24,506
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 | €2,107,682 | €2,283,354 | +€175,672 | +8.3% |
| Fixed assets | 21/28 | €1,276,324 | €1,198,713 | -€77,611 | -6.1% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €1,275,574 | €1,197,963 | -€77,611 | -6.1% |
| Land and buildings | 22 | €520,527 | €568,542 | +€48,015 | +9.2% |
| Plant, machinery and equipment | 23 | €747,474 | €625,309 | -€122,165 | -16.3% |
| Furniture and vehicles | 24 | €7,573 | €4,111 | -€3,461 | -45.7% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €831,358 | €1,084,642 | +€253,284 | +30.5% |
| Stocks and contracts in progress | 3 | €9,221 | €12,700 | +€3,479 | +37.7% |
| Stocks | 30/36 | €9,221 | €12,700 | +€3,479 | +37.7% |
| Amounts receivable within one year | 40/41 | €174,225 | €105,400 | -€68,825 | -39.5% |
| Trade receivables | 40 | €162,863 | €73,169 | -€89,695 | -55.1% |
| Other amounts receivable | 41 | €11,362 | €32,231 | +€20,870 | +184% |
| Current investments | 50/53 | €403,574 | €403,574 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €235,809 | €561,026 | +€325,217 | +138% |
| Deferred charges and accrued income | 490/1 | €8,529 | €1,942 | -€6,587 | -77.2% |
| Total equity and liabilities | 10/49 | €2,107,682 | €2,283,354 | +€175,672 | +8.3% |
| Equity | 10/15 | €474,511 | €909,387 | +€434,876 | +91.6% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €274,511 | €656,554 | +€382,043 | +139% |
| Non-distributable reserves | 130/1 | €3,500 | €20,000 | +€16,500 | +471% |
| Legal reserve | 130 | €3,500 | €20,000 | +€16,500 | +471% |
| Distributable reserves | 133 | €271,011 | €636,554 | +€365,543 | +135% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Investment grants | 15 | - | €52,833 | +€52,833 | |
| Provisions and deferred taxes | 16 | - | €17,611 | +€17,611 | |
| Deferred taxes | 168 | - | €17,611 | +€17,611 | |
| Amounts payable | 17/49 | €1,633,171 | €1,356,356 | -€276,814 | -16.9% |
| Amounts payable after more than one year | 17 | €1,017,080 | €852,605 | -€164,476 | -16.2% |
| Financial debts | 170/4 | €700,080 | €583,605 | -€116,476 | -16.6% |
| Other amounts payable | 178/9 | €317,000 | €269,000 | -€48,000 | -15.1% |
| Amounts payable within one year | 42/48 | €559,007 | €436,661 | -€122,346 | -21.9% |
| Current portion of amounts payable after more than one year | 42 | €113,675 | €116,476 | +€2,801 | +2.5% |
| Trade debts | 44 | €215,456 | €38,580 | -€176,876 | -82.1% |
| Suppliers | 440/4 | €215,456 | €38,580 | -€176,876 | -82.1% |
| Taxes, remuneration and social security | 45 | €70,950 | €194,024 | +€123,074 | +173% |
| Taxes | 450/3 | €27,825 | €121,870 | +€94,046 | +338% |
| Remuneration and social security | 454/9 | €43,125 | €72,153 | +€29,028 | +67.3% |
| Other amounts payable | 47/48 | €158,926 | €87,582 | -€71,344 | -44.9% |
| Accrued charges and deferred income | 492/3 | €57,084 | €67,091 | +€10,007 | +17.5% |
| Remuneration, social security and pensions | 62 | €500,387 | €552,856 | +€52,469 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €215,861 | €234,625 | +€18,764 | +8.7% |
| Other operating charges | 640/8 | €45,942 | €24,506 | -€21,436 | -46.7% |
| Gross operating margin | 9900 | €1,071,847 | €1,287,204 | +€215,357 | +20.1% |
| Operating profit (loss) | 9901 | €309,657 | €475,218 | +€165,560 | +53.5% |
| Financial income | 75/76B | €86 | €87,691 | +€87,605 | +101,465% |
| Recurring financial income | 75 | €86 | €87,691 | +€87,605 | +101,465% |
| Financial charges | 65/66B | €19,026 | €26,525 | +€7,499 | +39.4% |
| Recurring financial charges | 65 | €19,026 | €26,525 | +€7,499 | +39.4% |
| Profit (loss) for the period before taxes | 9903 | €290,717 | €536,384 | +€245,666 | +84.5% |
| Transfer from deferred taxes | 780 | - | €22,520 | +€22,520 | |
| Income taxes | 67/77 | €79,965 | €176,862 | +€96,896 | +121% |
| Profit (loss) for the period | 9904 | €210,752 | €382,043 | +€171,291 | +81.3% |
| Profit (loss) for the period to be appropriated | 9905 | €210,752 | €382,043 | +€171,291 | +81.3% |
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 20 October 2026 via checked.be.