Cevoila: 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.
Cevoila
Largest movements
- Current investments +€150,000
up €150,000, from €0 to €150,000
- Cash -€95,553
down €95,553 (-21.4%), from €445,827 to €350,274
mainly Current investments (-€150,000) and Contributions, distributions and other (-€48,093)
- Receivables within one year +€11,403
up €11,403 (+155%), from €7,336 to €18,739
of which Trade receivables: +€16,940
- Tangible fixed assets +€10,875
up €10,875 (+5.8%), from €186,321 to €197,196
of which Assets under construction and advance payments: +€18,000
- Other debts +€42,810
up €42,810 (+38.2%), from €112,009 to €154,819
- Reserves +€19,940
up €19,940 (+3.9%), from €505,502 to €525,442
- Accrued charges and deferred income +€10,327
new in 2025: €10,327
- Depreciation -€23,245
down €23,245 (-76.5%), from €30,370 to €7,125
- Taxes +€6,366
up €6,366 (+31.9%), from €19,977 to €26,343
- Gross operating margin +€4,722
up €4,722 (+4.6%), from €103,225 to €107,948
- Financial income -€3,072
down €3,072 (-39.8%), from €7,715 to €4,643
- Financial charges +€2,455
up €2,455 (+29.9%), from €8,196 to €10,651
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 | €639,533 | €716,259 | +€76,725 | +12.0% |
| Fixed assets | 21/28 | €186,371 | €197,246 | +€10,875 | +5.8% |
| Tangible fixed assets | 22/27 | €186,321 | €197,196 | +€10,875 | +5.8% |
| Land and buildings | 22 | €186,321 | €179,196 | -€7,125 | -3.8% |
| Assets under construction and advance payments | 27 | - | €18,000 | +€18,000 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €453,163 | €519,013 | +€65,850 | +14.5% |
| Amounts receivable within one year | 40/41 | €7,336 | €18,739 | +€11,403 | +155% |
| Trade receivables | 40 | €0 | €16,940 | +€16,940 | |
| Other amounts receivable | 41 | €7,336 | €1,799 | -€5,537 | -75.5% |
| Current investments | 50/53 | €0 | €150,000 | +€150,000 | |
| Cash at bank and in hand | 54/58 | €445,827 | €350,274 | -€95,553 | -21.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €639,533 | €716,259 | +€76,725 | +12.0% |
| Equity | 10/15 | €514,802 | €534,742 | +€19,940 | +3.9% |
| Contributions | 10/11 | €9,300 | €9,300 | = | 0.0% |
| Reserves | 13 | €505,502 | €525,442 | +€19,940 | +3.9% |
| Distributable reserves | 133 | €505,502 | €525,442 | +€19,940 | +3.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €124,731 | €181,516 | +€56,785 | +45.5% |
| Amounts payable within one year | 42/48 | €124,731 | €171,189 | +€46,458 | +37.2% |
| Trade debts | 44 | €1,159 | €1,424 | +€266 | +22.9% |
| Suppliers | 440/4 | €1,159 | €1,424 | +€266 | +22.9% |
| Taxes, remuneration and social security | 45 | €11,564 | €14,946 | +€3,382 | +29.2% |
| Taxes | 450/3 | €11,564 | €14,946 | +€3,382 | +29.2% |
| Other amounts payable | 47/48 | €112,009 | €154,819 | +€42,810 | +38.2% |
| Accrued charges and deferred income | 492/3 | - | €10,327 | +€10,327 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,370 | €7,125 | -€23,245 | -76.5% |
| Other operating charges | 640/8 | €1,029 | €440 | -€589 | -57.3% |
| Gross operating margin | 9900 | €103,225 | €107,948 | +€4,722 | +4.6% |
| Operating profit (loss) | 9901 | €71,827 | €100,383 | +€28,556 | +39.8% |
| Financial income | 75/76B | €7,715 | €4,643 | -€3,072 | -39.8% |
| Recurring financial income | 75 | €7,715 | €4,643 | -€3,072 | -39.8% |
| Financial charges | 65/66B | €8,196 | €10,651 | +€2,455 | +29.9% |
| Recurring financial charges | 65 | €8,196 | €10,651 | +€2,455 | +29.9% |
| Profit (loss) for the period before taxes | 9903 | €71,346 | €94,376 | +€23,029 | +32.3% |
| Income taxes | 67/77 | €19,977 | €26,343 | +€6,366 | +31.9% |
| Profit (loss) for the period | 9904 | €51,370 | €68,033 | +€16,663 | +32.4% |
| Profit (loss) for the period to be appropriated | 9905 | €51,370 | €68,033 | +€16,663 | +32.4% |
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 17 October 2026 via checked.be.