CAVIMA: what changed
Two fiscal 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.
CAVIMA
Largest movements
- Tangible fixed assets +€421,932
up €421,932 (+2005.6%), from €21,037 to €442,969
of which Land and buildings: +€424,714
- Cash +€53,899
up €53,899 (+44.1%), from €122,266 to €176,165
mainly Debts after one year (+€337,825) and Advances received (+€44,664)
- Receivables within one year -€32,081
down €32,081 (-41.8%), from €76,745 to €44,664
of which Trade receivables: -€22,832
- Intangible fixed assets -€18,000
down €18,000 (-32.4%), from €55,529 to €37,529
- Financial fixed assets -€9,000
no longer reported in 2025 (was €9,000)
- Debts after one year +€337,825
up €337,825 (+844.1%), from €40,020 to €377,846
- Advances received +€44,664
new in 2025: €44,664
- Reserves +€36,740
up €36,740 (+38.4%), from €95,730 to €132,470
- Other debts -€35,367
down €35,367 (-75.7%), from €46,727 to €11,360
- Tax, wage and social debts +€21,256
up €21,256 (+37.6%), from €56,537 to €77,793
of which Taxes: +€26,745
- Other operating charges +€63,273
up €63,273 (+1432.7%), from €4,416 to €67,690
- Gross operating margin +€45,359
up €45,359 (+9.7%), from €468,794 to €514,154
- Staff costs +€23,163
up €23,163 (+8.0%), from €290,455 to €313,618
- Depreciation +€17,578
up €17,578 (+73.1%), from €24,052 to €41,630
- Taxes +€14,214
up €14,214 (+50.8%), from €28,004 to €42,218
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 | €284,577 | €701,326 | +€416,750 | +146.4% |
| Fixed assets | 21/28 | €85,566 | €480,498 | +€394,932 | +461.6% |
| Intangible fixed assets | 21 | €55,529 | €37,529 | -€18,000 | -32.4% |
| Tangible fixed assets | 22/27 | €21,037 | €442,969 | +€421,932 | +2005.6% |
| Land and buildings | 22 | - | €424,714 | +€424,714 | |
| Plant, machinery and equipment | 23 | €7,605 | €6,626 | -€980 | -12.9% |
| Furniture and vehicles | 24 | €1,669 | €2,945 | +€1,276 | +76.4% |
| Other tangible fixed assets | 26 | €11,763 | €8,685 | -€3,078 | -26.2% |
| Financial fixed assets | 28 | €9,000 | - | -€9,000 | |
| Current assets | 29/58 | €199,010 | €220,829 | +€21,818 | +11.0% |
| Amounts receivable within one year | 40/41 | €76,745 | €44,664 | -€32,081 | -41.8% |
| Trade receivables | 40 | €67,495 | €44,664 | -€22,832 | -33.8% |
| Other amounts receivable | 41 | €9,249 | - | -€9,249 | |
| Cash at bank and in hand | 54/58 | €122,266 | €176,165 | +€53,899 | +44.1% |
| Total equity and liabilities | 10/49 | €284,577 | €701,326 | +€416,750 | +146.4% |
| Equity | 10/15 | €105,730 | €142,470 | +€36,740 | +34.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Outside capital | 11 | €10,000 | €10,000 | = | 0.0% |
| Other | 1109/19 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €95,730 | €132,470 | +€36,740 | +38.4% |
| Distributable reserves | 133 | €95,730 | €132,470 | +€36,740 | +38.4% |
| Amounts payable | 17/49 | €178,847 | €558,856 | +€380,010 | +212.5% |
| Amounts payable after more than one year | 17 | €40,020 | €377,846 | +€337,825 | +844.1% |
| Financial debts | 170/4 | €40,020 | €377,846 | +€337,825 | +844.1% |
| Amounts payable within one year | 42/48 | €137,764 | €181,010 | +€43,247 | +31.4% |
| Current portion of amounts payable after more than one year | 42 | €22,798 | €42,920 | +€20,122 | +88.3% |
| Trade debts | 44 | €11,702 | €4,274 | -€7,428 | -63.5% |
| Suppliers | 440/4 | €11,702 | €4,274 | -€7,428 | -63.5% |
| Advances received on contracts in progress | 46 | - | €44,664 | +€44,664 | |
| Taxes, remuneration and social security | 45 | €56,537 | €77,793 | +€21,256 | +37.6% |
| Taxes | 450/3 | €20,478 | €47,222 | +€26,745 | +130.6% |
| Remuneration and social security | 454/9 | €36,059 | €30,571 | -€5,489 | -15.2% |
| Other amounts payable | 47/48 | €46,727 | €11,360 | -€35,367 | -75.7% |
| Accrued charges and deferred income | 492/3 | €1,062 | - | -€1,062 | |
| Non-recurring operating income | 76A | €26 | - | -€26 | |
| Remuneration, social security and pensions | 62 | €290,455 | €313,618 | +€23,163 | +8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,052 | €41,630 | +€17,578 | +73.1% |
| Other operating charges | 640/8 | €4,416 | €67,690 | +€63,273 | +1432.7% |
| Gross operating margin | 9900 | €468,794 | €514,154 | +€45,359 | +9.7% |
| Operating profit (loss) | 9901 | €149,872 | €91,216 | -€58,656 | -39.1% |
| Financial income | 75/76B | €131 | €991 | +€860 | +657.9% |
| Recurring financial income | 75 | €131 | €991 | +€860 | +657.9% |
| Financial charges | 65/66B | €4,955 | €13,249 | +€8,294 | +167.4% |
| Recurring financial charges | 65 | €4,955 | €13,249 | +€8,294 | +167.4% |
| Profit (loss) for the period before taxes | 9903 | €145,047 | €78,958 | -€66,089 | -45.6% |
| Income taxes | 67/77 | €28,004 | €42,218 | +€14,214 | +50.8% |
| Profit (loss) for the period | 9904 | €117,043 | €36,740 | -€80,303 | -68.6% |
| Profit (loss) for the period to be appropriated | 9905 | €117,043 | €36,740 | -€80,303 | -68.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.