Caviarz: 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.
Caviarz
Largest movements
- Receivables within one year +€1.1m
up €1.1m (+138.2%), from €763,141 to €1.8m
of which Trade receivables: +€1.1m
- Cash +€159,772
up €159,772 (+25.5%), from €627,640 to €787,412
mainly Net result for the year (+€1.0m) and Tax, wage and social debts (+€511,495)
- Stocks and contracts +€57,281
up €57,281 (+3.2%), from €1.8m to €1.9m
- Reserves +€702,161
up €702,161 (+48.8%), from €1.4m to €2.1m
- Tax, wage and social debts +€511,495
up €511,495 (+199.2%), from €256,796 to €768,292
of which Taxes: +€511,075
- Advances received +€361,500
up €361,500 (+210.2%), from €172,003 to €533,503
- Short-term financial debts -€250,000
down €250,000 (-38.5%), from €650,000 to €400,000
- Debts after one year -€237,378
down €237,378 (-27.4%), from €864,819 to €627,441
- Gross operating margin +€1.3m
up €1.3m (+291.4%), from €452,214 to €1.8m
- Taxes +€319,550
up €319,550 (+939.9%), from €34,000 to €353,550
- Staff costs +€48,091
up €48,091 (+39.0%), from €123,283 to €171,374
- Financial charges +€32,053
up €32,053 (+52.5%), from €61,089 to €93,141
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.
Cash bridge derived
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 | €4,194,577 | €5,510,975 | +€1.3m | +31.4% |
| Fixed assets | 21/28 | €993,606 | €991,357 | -€2,249 | -0.2% |
| Intangible fixed assets | 21 | €599 | - | -€599 | |
| Tangible fixed assets | 22/27 | €992,755 | €991,105 | -€1,650 | -0.2% |
| Land and buildings | 22 | €764,976 | €734,348 | -€30,628 | -4.0% |
| Plant, machinery and equipment | 23 | €27,675 | €33,494 | +€5,820 | +21.0% |
| Furniture and vehicles | 24 | €92,033 | €73,181 | -€18,852 | -20.5% |
| Other tangible fixed assets | 26 | €108,071 | €150,082 | +€42,011 | +38.9% |
| Financial fixed assets | 28 | €252 | €252 | = | 0.0% |
| Current assets | 29/58 | €3,200,971 | €4,519,618 | +€1.3m | +41.2% |
| Stocks and contracts in progress | 3 | €1,799,945 | €1,857,226 | +€57,281 | +3.2% |
| Stocks | 30/36 | €1,799,945 | €1,857,226 | +€57,281 | +3.2% |
| Amounts receivable within one year | 40/41 | €763,141 | €1,817,764 | +€1.1m | +138.2% |
| Trade receivables | 40 | €544,454 | €1,635,472 | +€1.1m | +200.4% |
| Other amounts receivable | 41 | €218,687 | €182,292 | -€36,396 | -16.6% |
| Current investments | 50/53 | €10,244 | €52,197 | +€41,953 | +409.5% |
| Cash at bank and in hand | 54/58 | €627,640 | €787,412 | +€159,772 | +25.5% |
| Deferred charges and accrued income | 490/1 | - | €5,020 | +€5,020 | |
| Total equity and liabilities | 10/49 | €4,194,577 | €5,510,975 | +€1.3m | +31.4% |
| Equity | 10/15 | €1,638,706 | €2,340,868 | +€702,161 | +42.8% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €1,438,706 | €2,140,868 | +€702,161 | +48.8% |
| Distributable reserves | 133 | €1,438,706 | €2,140,868 | +€702,161 | +48.8% |
| Amounts payable | 17/49 | €2,555,870 | €3,170,108 | +€614,237 | +24.0% |
| Amounts payable after more than one year | 17 | €864,819 | €627,441 | -€237,378 | -27.4% |
| Financial debts | 170/4 | €864,819 | €627,441 | -€237,378 | -27.4% |
| Amounts payable within one year | 42/48 | €1,691,052 | €2,539,550 | +€848,499 | +50.2% |
| Current portion of amounts payable after more than one year | 42 | €351,198 | €345,968 | -€5,230 | -1.5% |
| Financial debts | 43 | €650,000 | €400,000 | -€250,000 | -38.5% |
| Credit institutions | 430/8 | €650,000 | €400,000 | -€250,000 | -38.5% |
| Trade debts | 44 | €251,545 | €345,889 | +€94,344 | +37.5% |
| Suppliers | 440/4 | €251,545 | €345,889 | +€94,344 | +37.5% |
| Advances received on contracts in progress | 46 | €172,003 | €533,503 | +€361,500 | +210.2% |
| Taxes, remuneration and social security | 45 | €256,796 | €768,292 | +€511,495 | +199.2% |
| Taxes | 450/3 | €256,572 | €767,647 | +€511,075 | +199.2% |
| Remuneration and social security | 454/9 | €224 | €644 | +€421 | +187.9% |
| Other amounts payable | 47/48 | €9,510 | €145,899 | +€136,389 | +1434.2% |
| Accrued charges and deferred income | 492/3 | - | €3,117 | +€3,117 | |
| Non-recurring operating income | 76A | €15,289 | - | -€15,289 | |
| Remuneration, social security and pensions | 62 | €123,283 | €171,374 | +€48,091 | +39.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,381 | €110,913 | -€9,469 | -7.9% |
| Other operating charges | 640/8 | €17,590 | €14,795 | -€2,794 | -15.9% |
| Gross operating margin | 9900 | €452,214 | €1,769,941 | +€1.3m | +291.4% |
| Operating profit (loss) | 9901 | €190,959 | €1,472,859 | +€1.3m | +671.3% |
| Financial income | 75/76B | €5,977 | €994 | -€4,984 | -83.4% |
| Recurring financial income | 75 | €5,977 | €994 | -€4,984 | -83.4% |
| Financial charges | 65/66B | €61,089 | €93,141 | +€32,053 | +52.5% |
| Recurring financial charges | 65 | €61,089 | €93,141 | +€32,053 | +52.5% |
| Profit (loss) for the period before taxes | 9903 | €135,848 | €1,380,712 | +€1.2m | +916.4% |
| Income taxes | 67/77 | €34,000 | €353,550 | +€319,550 | +939.9% |
| Profit (loss) for the period | 9904 | €101,848 | €1,027,161 | +€925,313 | +908.5% |
| Profit (loss) for the period to be appropriated | 9905 | €101,848 | €1,027,161 | +€925,313 | +908.5% |
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 11 October 2026 via checked.be.