CAVI: 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.
CAVI
Largest movements
- Receivables within one year -€1.9m
down €1.9m (-73.0%), from €2.6m to €714,277
of which Trade receivables: -€1.9m
- Stocks and contracts -€30,005
down €30,005 (-25.8%), from €116,197 to €86,193
- Trade debts -€1.4m
down €1.4m (-83.9%), from €1.7m to €273,824
- Debts after one year -€524,214
down €524,214 (-89.2%), from €587,768 to €63,554
- Tax, wage and social debts -€48,917
down €48,917 (-36.8%), from €133,032 to €84,115
of which Taxes: -€53,041
- Gross operating margin -€56,704
down €56,704 (-17.1%), from €331,840 to €275,135
- Write-downs -€44,900
down €44,900 (-74.8%), from €60,000 to €15,100
- Financial income -€40,238
down €40,238 (-95.8%), from €41,991 to €1,753
of which Non-recurring financial income: -€41,896
- Staff costs -€13,999
down €13,999 (-6.3%), from €222,465 to €208,466
- Taxes -€10,033
down €10,033 (-39.6%), from €25,317 to €15,284
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 | €2,822,673 | €843,542 | -€2.0m | -70.1% |
| Current assets | 29/58 | €2,822,673 | €843,542 | -€2.0m | -70.1% |
| Amounts receivable after more than one year | 29 | €55,917 | €41,250 | -€14,667 | -26.2% |
| Trade receivables | 290 | €55,917 | €41,250 | -€14,667 | -26.2% |
| Stocks and contracts in progress | 3 | €116,197 | €86,193 | -€30,005 | -25.8% |
| Stocks | 30/36 | €116,197 | €86,193 | -€30,005 | -25.8% |
| Amounts receivable within one year | 40/41 | €2,643,840 | €714,277 | -€1.9m | -73.0% |
| Trade receivables | 40 | €2,641,767 | €713,129 | -€1.9m | -73.0% |
| Other amounts receivable | 41 | €2,073 | €1,147 | -€926 | -44.7% |
| Cash at bank and in hand | 54/58 | €5,493 | €546 | -€4,948 | -90.1% |
| Deferred charges and accrued income | 490/1 | €1,226 | €1,277 | +€51 | +4.2% |
| Total equity and liabilities | 10/49 | €2,822,673 | €843,542 | -€2.0m | -70.1% |
| Equity | 10/15 | €395,782 | €421,008 | +€25,226 | +6.4% |
| Contributions | 10/11 | €29,053 | €29,053 | = | 0.0% |
| Reserves | 13 | €2,905 | €2,905 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,905 | €2,905 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,905 | €2,905 | = | 0.0% |
| Profit (loss) carried forward | 14 | €363,824 | €389,050 | +€25,226 | +6.9% |
| Amounts payable | 17/49 | €2,426,891 | €422,534 | -€2.0m | -82.6% |
| Amounts payable after more than one year | 17 | €587,768 | €63,554 | -€524,214 | -89.2% |
| Other amounts payable | 178/9 | €587,768 | €63,554 | -€524,214 | -89.2% |
| Amounts payable within one year | 42/48 | €1,839,018 | €358,736 | -€1.5m | -80.5% |
| Financial debts | 43 | €265 | €798 | +€532 | +201% |
| Credit institutions | 430/8 | €265 | €798 | +€532 | +201% |
| Trade debts | 44 | €1,705,721 | €273,824 | -€1.4m | -83.9% |
| Suppliers | 440/4 | €1,705,721 | €273,824 | -€1.4m | -83.9% |
| Taxes, remuneration and social security | 45 | €133,032 | €84,115 | -€48,917 | -36.8% |
| Taxes | 450/3 | €117,400 | €64,359 | -€53,041 | -45.2% |
| Remuneration and social security | 454/9 | €15,632 | €19,756 | +€4,124 | +26.4% |
| Accrued charges and deferred income | 492/3 | €105 | €244 | +€139 | +132% |
| Remuneration, social security and pensions | 62 | €222,465 | €208,466 | -€13,999 | -6.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €60,000 | €15,100 | -€44,900 | -74.8% |
| Other operating charges | 640/8 | €5,860 | €4,997 | -€863 | -14.7% |
| Non-recurring operating charges | 66A | - | €286 | +€286 | |
| Gross operating margin | 9900 | €331,840 | €275,135 | -€56,704 | -17.1% |
| Operating profit (loss) | 9901 | €43,516 | €46,288 | +€2,772 | +6.4% |
| Financial income | 75/76B | €41,991 | €1,753 | -€40,238 | -95.8% |
| Recurring financial income | 75 | €95 | €1,753 | +€1,658 | +1,745% |
| Non-recurring financial income | 76B | €41,896 | - | -€41,896 | |
| Financial charges | 65/66B | €6,174 | €7,531 | +€1,358 | +22.0% |
| Recurring financial charges | 65 | €6,174 | €7,531 | +€1,358 | +22.0% |
| Profit (loss) for the period before taxes | 9903 | €79,333 | €40,509 | -€38,823 | -48.9% |
| Income taxes | 67/77 | €25,317 | €15,284 | -€10,033 | -39.6% |
| Profit (loss) for the period | 9904 | €54,016 | €25,226 | -€28,790 | -53.3% |
| Profit (loss) for the period to be appropriated | 9905 | €54,016 | €25,226 | -€28,790 | -53.3% |
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 25 October 2026 via checked.be.