CDSV: 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.
CDSV
Largest movements
- Cash -€47,195
down €47,195 (-50.9%), from €92,654 to €45,459
mainly Contributions, distributions and other (-€40,000) and Other debts (-€30,588)
- Tangible fixed assets -€18,275
down €18,275 (-27.0%), from €67,774 to €49,499
of which Plant, machinery and equipment: -€11,566
- Receivables within one year -€16,855
down €16,855 (-39.8%), from €42,372 to €25,517
of which Other amounts receivable: -€15,916
- Deferred charges and accrued income -€4,795
down €4,795 (-30.7%), from €15,612 to €10,817
- Other debts -€30,588
down €30,588 (-43.3%), from €70,588 to €40,000
- Profit (loss) carried forward -€18,102
down €18,102 (-75.6%), from €23,937 to €5,835
- Trade debts -€13,754
down €13,754 (-57.9%), from €23,737 to €9,982
- Debts after one year -€13,279
down €13,279 (-30.1%), from €44,080 to €30,802
- Tax, wage and social debts -€9,923
down €9,923 (-55.8%), from €17,798 to €7,875
- Staff costs -€5,740
down €5,740 (-7.5%), from €76,843 to €71,103
- Gross operating margin -€4,676
down €4,676 (-3.6%), from €129,281 to €124,605
- Depreciation -€3,916
down €3,916 (-15.2%), from €25,698 to €21,782
- Financial income -€1,417
down €1,417 (-43.4%), from €3,267 to €1,849
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 | €218,573 | €131,452 | -€87,120 | -39.9% |
| Fixed assets | 21/28 | €67,934 | €49,659 | -€18,275 | -26.9% |
| Tangible fixed assets | 22/27 | €67,774 | €49,499 | -€18,275 | -27.0% |
| Land and buildings | 22 | €24,477 | €18,524 | -€5,953 | -24.3% |
| Plant, machinery and equipment | 23 | €37,947 | €26,381 | -€11,566 | -30.5% |
| Furniture and vehicles | 24 | €5,350 | €4,593 | -€756 | -14.1% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €150,639 | €81,793 | -€68,845 | -45.7% |
| Amounts receivable within one year | 40/41 | €42,372 | €25,517 | -€16,855 | -39.8% |
| Trade receivables | 40 | €939 | - | -€939 | |
| Other amounts receivable | 41 | €41,433 | €25,517 | -€15,916 | -38.4% |
| Cash at bank and in hand | 54/58 | €92,654 | €45,459 | -€47,195 | -50.9% |
| Deferred charges and accrued income | 490/1 | €15,612 | €10,817 | -€4,795 | -30.7% |
| Total equity and liabilities | 10/49 | €218,573 | €131,452 | -€87,120 | -39.9% |
| Equity | 10/15 | €42,570 | €24,468 | -€18,102 | -42.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €34 | €34 | = | 0.0% |
| Non-distributable reserves | 130/1 | €34 | €34 | = | 0.0% |
| Reserves not available under the articles | 1311 | €34 | €34 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,937 | €5,835 | -€18,102 | -75.6% |
| Amounts payable | 17/49 | €176,002 | €106,984 | -€69,019 | -39.2% |
| Amounts payable after more than one year | 17 | €44,080 | €30,802 | -€13,279 | -30.1% |
| Financial debts | 170/4 | €44,080 | €30,802 | -€13,279 | -30.1% |
| Amounts payable within one year | 42/48 | €130,229 | €76,182 | -€54,047 | -41.5% |
| Current portion of amounts payable after more than one year | 42 | €18,105 | €18,325 | +€219 | +1.2% |
| Trade debts | 44 | €23,737 | €9,982 | -€13,754 | -57.9% |
| Suppliers | 440/4 | €23,737 | €9,982 | -€13,754 | -57.9% |
| Taxes, remuneration and social security | 45 | €17,798 | €7,875 | -€9,923 | -55.8% |
| Remuneration and social security | 454/9 | €17,798 | €7,875 | -€9,923 | -55.8% |
| Other amounts payable | 47/48 | €70,588 | €40,000 | -€30,588 | -43.3% |
| Accrued charges and deferred income | 492/3 | €1,693 | - | -€1,693 | |
| Remuneration, social security and pensions | 62 | €76,843 | €71,103 | -€5,740 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,698 | €21,782 | -€3,916 | -15.2% |
| Other operating charges | 640/8 | €421 | €400 | -€22 | -5.1% |
| Gross operating margin | 9900 | €129,281 | €124,605 | -€4,676 | -3.6% |
| Operating profit (loss) | 9901 | €26,319 | €31,320 | +€5,001 | +19.0% |
| Financial income | 75/76B | €3,267 | €1,849 | -€1,417 | -43.4% |
| Recurring financial income | 75 | €3,267 | €1,849 | -€1,417 | -43.4% |
| Financial charges | 65/66B | €2,569 | €2,062 | -€507 | -19.7% |
| Recurring financial charges | 65 | €2,569 | €2,062 | -€507 | -19.7% |
| Profit (loss) for the period before taxes | 9903 | €27,017 | €31,108 | +€4,091 | +15.1% |
| Income taxes | 67/77 | €8,359 | €9,210 | +€851 | +10.2% |
| Profit (loss) for the period | 9904 | €18,658 | €21,898 | +€3,240 | +17.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,658 | €21,898 | +€3,240 | +17.4% |
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 13 October 2026 via checked.be.