CDV INVEST: what changed
What changed
CDV INVEST
filed annual accounts (NBB)
Net result for the year
€146,785
2024 · €313,814-€167,029
Equity
€13.3m
2024 · €13.2m+€146,785
Cash
€108,382
2024 · €13,022+€95,359
Balance sheet total
€18.6m
2024 · €18.9m-€295,666
Largest movements
Assets
- Tangible fixed assets -€371,040
down €371,040 (-2.0%), from €18.8m to €18.4m
of which Land and buildings: -€467,048
Equity and liabilities
- Debts after one year -€247,792
down €247,792 (-4.8%), from €5.1m to €4.9m
of which Financial debts: -€238,957
Income statement
- Depreciation +€122,593
up €122,593 (+31.6%), from €387,804 to €510,396
- Gross operating margin -€58,071
down €58,071 (-6.4%), from €913,279 to €855,208
- Financial charges -€12,276
down €12,276 (-39.8%), from €30,869 to €18,593
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€313,814
Gross operating margin
-€58,071
Depreciation
-€122,593
Other operating charges
-€4,650
Other operating items
+€4,496
Financial income
-€1,172
Financial charges
+€12,276
Taxes
+€2,684
Result 2025
€146,785
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€605,892
Investment
-€139,356
Financing
-€371,176
Cash 2024
€13,022
From operations (derived)
+€605,892
Net result for the year
+€146,785
Depreciation
+€510,396
Receivables within one year
+€500
Deferred charges and accrued income
+€19,485
Trade debts
-€10,845
Tax, wage and social debts
-€40,915
Other debts
-€12,815
Accrued charges and deferred income
-€6,700
Investment (derived)
-€139,356
Investment in fixed assets (net)
-€139,356
Financing
-€371,176
Debts after one year
-€247,792
Current portion of long-term debt
-€123,384
Cash 2025
€108,382
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,855,041 | €18,559,375 | -€295,666 | -1.6% |
| Fixed assets | 21/28 | €18,794,814 | €18,423,774 | -€371,040 | -2.0% |
| Tangible fixed assets | 22/27 | €18,794,814 | €18,423,774 | -€371,040 | -2.0% |
| Land and buildings | 22 | €18,760,000 | €18,292,952 | -€467,048 | -2.5% |
| Plant, machinery and equipment | 23 | €7,613 | €7,146 | -€467 | -6.1% |
| Furniture and vehicles | 24 | €5,098 | €106,295 | +€101,197 | +1,985% |
| Other tangible fixed assets | 26 | €22,102 | €17,380 | -€4,722 | -21.4% |
| Current assets | 29/58 | €60,227 | €135,601 | +€75,374 | +125% |
| Amounts receivable within one year | 40/41 | €500 | - | -€500 | |
| Trade receivables | 40 | €500 | - | -€500 | |
| Cash at bank and in hand | 54/58 | €13,022 | €108,382 | +€95,359 | +732% |
| Deferred charges and accrued income | 490/1 | €46,705 | €27,219 | -€19,485 | -41.7% |
| Total equity and liabilities | 10/49 | €18,855,041 | €18,559,375 | -€295,666 | -1.6% |
| Equity | 10/15 | €13,161,014 | €13,307,799 | +€146,785 | +1.1% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Revaluation surpluses | 12 | €10,555,666 | €10,396,857 | -€158,810 | -1.5% |
| Reserves | 13 | €2,530,348 | €2,689,158 | +€158,810 | +6.3% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €2,522,848 | €2,681,658 | +€158,810 | +6.3% |
| Profit (loss) carried forward | 14 | - | €146,785 | +€146,785 | |
| Amounts payable | 17/49 | €5,694,027 | €5,251,576 | -€442,451 | -7.8% |
| Amounts payable after more than one year | 17 | €5,137,926 | €4,890,134 | -€247,792 | -4.8% |
| Financial debts | 170/4 | €978,575 | €739,618 | -€238,957 | -24.4% |
| Other amounts payable | 178/9 | €4,159,350 | €4,150,516 | -€8,835 | -0.2% |
| Amounts payable within one year | 42/48 | €540,716 | €352,757 | -€187,959 | -34.8% |
| Current portion of amounts payable after more than one year | 42 | €366,991 | €243,607 | -€123,384 | -33.6% |
| Trade debts | 44 | €10,977 | €133 | -€10,845 | -98.8% |
| Suppliers | 440/4 | €10,977 | €133 | -€10,845 | -98.8% |
| Taxes, remuneration and social security | 45 | €101,299 | €60,384 | -€40,915 | -40.4% |
| Taxes | 450/3 | €101,299 | €60,384 | -€40,915 | -40.4% |
| Other amounts payable | 47/48 | €61,448 | €48,633 | -€12,815 | -20.9% |
| Accrued charges and deferred income | 492/3 | €15,385 | €8,685 | -€6,700 | -43.5% |
| Non-recurring operating income | 76A | - | €35,611 | +€35,611 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €387,804 | €510,396 | +€122,593 | +31.6% |
| Other operating charges | 640/8 | €64,400 | €69,050 | +€4,650 | +7.2% |
| Non-recurring operating charges | 66A | €4,496 | - | -€4,496 | |
| Gross operating margin | 9900 | €913,279 | €855,208 | -€58,071 | -6.4% |
| Operating profit (loss) | 9901 | €456,579 | €275,762 | -€180,817 | -39.6% |
| Financial income | 75/76B | €1,172 | €0 | -€1,172 | -100.0% |
| Recurring financial income | 75 | €1,172 | €0 | -€1,172 | -100.0% |
| Financial charges | 65/66B | €30,869 | €18,593 | -€12,276 | -39.8% |
| Recurring financial charges | 65 | €30,869 | €18,593 | -€12,276 | -39.8% |
| Profit (loss) for the period before taxes | 9903 | €426,883 | €257,169 | -€169,714 | -39.8% |
| Income taxes | 67/77 | €113,069 | €110,384 | -€2,684 | -2.4% |
| Profit (loss) for the period | 9904 | €313,814 | €146,785 | -€167,029 | -53.2% |
| Profit (loss) for the period to be appropriated | 9905 | €313,814 | €146,785 | -€167,029 | -53.2% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.