Cevand: 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.
Cevand
Largest movements
- Cash +€19,533
up €19,533 (+53.2%), from €36,731 to €56,264
mainly Net result for the year (+€188,164) and Trade debts (+€1,859)
- Reserves +€187,774
up €187,774 (+98.2%), from €191,226 to €379,000
- Debts after one year -€165,000
down €165,000 (-18.5%), from €890,750 to €725,750
- Gross operating margin +€9,098
up €9,098 (+83.1%), from €10,944 to €20,041
- Financial charges -€3,239
down €3,239 (-13.2%), from €24,547 to €21,308
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 | €1,259,400 | €1,279,443 | +€20,043 | +1.6% |
| Fixed assets | 21/28 | €1,220,750 | €1,222,090 | +€1,340 | +0.1% |
| Tangible fixed assets | 22/27 | - | €1,340 | +€1,340 | |
| Plant, machinery and equipment | 23 | - | €1,340 | +€1,340 | |
| Financial fixed assets | 28 | €1,220,750 | €1,220,750 | = | 0.0% |
| Current assets | 29/58 | €38,650 | €57,353 | +€18,703 | +48.4% |
| Amounts receivable within one year | 40/41 | €1,920 | €1,089 | -€831 | -43.3% |
| Other amounts receivable | 41 | €1,920 | €1,089 | -€831 | -43.3% |
| Cash at bank and in hand | 54/58 | €36,731 | €56,264 | +€19,533 | +53.2% |
| Total equity and liabilities | 10/49 | €1,259,400 | €1,279,443 | +€20,043 | +1.6% |
| Equity | 10/15 | €192,226 | €380,390 | +€188,164 | +97.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €191,226 | €379,000 | +€187,774 | +98.2% |
| Distributable reserves | 133 | €191,226 | €379,000 | +€187,774 | +98.2% |
| Profit (loss) carried forward | 14 | - | €390 | +€390 | |
| Amounts payable | 17/49 | €1,067,174 | €899,053 | -€168,121 | -15.8% |
| Amounts payable after more than one year | 17 | €890,750 | €725,750 | -€165,000 | -18.5% |
| Financial debts | 170/4 | €890,750 | €725,750 | -€165,000 | -18.5% |
| Amounts payable within one year | 42/48 | €176,424 | €173,303 | -€3,121 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €165,000 | €165,000 | = | 0.0% |
| Trade debts | 44 | €1,720 | €3,580 | +€1,859 | +108.1% |
| Suppliers | 440/4 | €1,720 | €3,580 | +€1,859 | +108.1% |
| Taxes, remuneration and social security | 45 | €9,704 | €4,723 | -€4,980 | -51.3% |
| Taxes | 450/3 | €9,704 | €4,723 | -€4,980 | -51.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €163 | +€163 | |
| Other operating charges | 640/8 | €323 | €229 | -€94 | -29.0% |
| Gross operating margin | 9900 | €10,944 | €20,041 | +€9,098 | +83.1% |
| Operating profit (loss) | 9901 | €10,621 | €19,649 | +€9,028 | +85.0% |
| Financial income | 75/76B | €190,000 | €190,000 | = | 0.0% |
| Recurring financial income | 75 | €190,000 | €190,000 | = | 0.0% |
| Financial charges | 65/66B | €24,547 | €21,308 | -€3,239 | -13.2% |
| Recurring financial charges | 65 | €24,547 | €21,308 | -€3,239 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €176,074 | €188,341 | +€12,268 | +7.0% |
| Income taxes | 67/77 | €146 | €177 | +€31 | +21.1% |
| Profit (loss) for the period | 9904 | €175,927 | €188,164 | +€12,237 | +7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €175,927 | €188,164 | +€12,237 | +7.0% |
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 6 October 2026 via checked.be.