CONVEX: 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.
CONVEX
Largest movements
- Tangible fixed assets -€23,758
down €23,758 (-33.2%), from €71,503 to €47,745
of which Furniture and vehicles: -€13,259
- Receivables within one year +€15,115
up €15,115 (+101.1%), from €14,948 to €30,064
of which Trade receivables: +€22,978
- Cash +€5,594
up €5,594 (+2.9%), from €189,888 to €195,482
mainly Depreciation (+€25,550) and Stocks and contracts (+€4,899)
- Stocks and contracts -€4,899
down €4,899 (-3.6%), from €135,327 to €130,428
- Advances received -€7,850
no longer reported in 2025 (was €7,850)
- Other debts -€7,836
down €7,836 (-92.9%), from €8,438 to €602
- Gross operating margin -€15,589
down €15,589 (-33.6%), from €46,438 to €30,849
- Financial income +€3,553
up €3,553 (+226.2%), from €1,571 to €5,124
- Depreciation -€2,587
down €2,587 (-9.2%), from €28,138 to €25,550
- Taxes +€1,776
up €1,776 (+430.8%), from €412 to €2,188
- Other operating charges -€1,162
down €1,162 (-14.3%), from €8,132 to €6,970
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 | €418,916 | €408,101 | -€10,815 | -2.6% |
| Fixed assets | 21/28 | €71,503 | €47,745 | -€23,758 | -33.2% |
| Tangible fixed assets | 22/27 | €71,503 | €47,745 | -€23,758 | -33.2% |
| Land and buildings | 22 | €44,269 | €36,764 | -€7,505 | -17.0% |
| Plant, machinery and equipment | 23 | €10,940 | €7,946 | -€2,994 | -27.4% |
| Furniture and vehicles | 24 | €16,294 | €3,035 | -€13,259 | -81.4% |
| Current assets | 29/58 | €347,412 | €360,356 | +€12,944 | +3.7% |
| Stocks and contracts in progress | 3 | €135,327 | €130,428 | -€4,899 | -3.6% |
| Stocks | 30/36 | €135,327 | €130,428 | -€4,899 | -3.6% |
| Amounts receivable within one year | 40/41 | €14,948 | €30,064 | +€15,115 | +101.1% |
| Trade receivables | 40 | €7,086 | €30,064 | +€22,978 | +324.3% |
| Other amounts receivable | 41 | €7,862 | - | -€7,862 | |
| Cash at bank and in hand | 54/58 | €189,888 | €195,482 | +€5,594 | +2.9% |
| Deferred charges and accrued income | 490/1 | €7,250 | €4,382 | -€2,868 | -39.6% |
| Total equity and liabilities | 10/49 | €418,916 | €408,101 | -€10,815 | -2.6% |
| Equity | 10/15 | €395,180 | €396,253 | +€1,073 | +0.3% |
| Contributions | 10/11 | €205,350 | €205,350 | = | 0.0% |
| Capital | 10 | €205,350 | €205,350 | = | 0.0% |
| Issued capital | 100 | €205,350 | €205,350 | = | 0.0% |
| Reserves | 13 | €198,783 | €198,783 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,535 | €20,535 | = | 0.0% |
| Legal reserve | 130 | €20,535 | €20,535 | = | 0.0% |
| Tax-exempt reserves | 132 | €804 | €804 | = | 0.0% |
| Distributable reserves | 133 | €177,444 | €177,444 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,953 | -€7,881 | +€1,073 | +12.0% |
| Amounts payable | 17/49 | €23,736 | €11,848 | -€11,887 | -50.1% |
| Amounts payable within one year | 42/48 | €23,736 | €10,998 | -€12,737 | -53.7% |
| Trade debts | 44 | €7,448 | €9,336 | +€1,889 | +25.4% |
| Suppliers | 440/4 | €7,448 | €9,336 | +€1,889 | +25.4% |
| Advances received on contracts in progress | 46 | €7,850 | - | -€7,850 | |
| Taxes, remuneration and social security | 45 | - | €1,060 | +€1,060 | |
| Taxes | 450/3 | - | €1,060 | +€1,060 | |
| Other amounts payable | 47/48 | €8,438 | €602 | -€7,836 | -92.9% |
| Accrued charges and deferred income | 492/3 | - | €850 | +€850 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,138 | €25,550 | -€2,587 | -9.2% |
| Other operating charges | 640/8 | €8,132 | €6,970 | -€1,162 | -14.3% |
| Gross operating margin | 9900 | €46,438 | €30,849 | -€15,589 | -33.6% |
| Operating profit (loss) | 9901 | €10,168 | -€1,671 | -€11,839 | |
| Financial income | 75/76B | €1,571 | €5,124 | +€3,553 | +226.2% |
| Recurring financial income | 75 | €1,571 | €5,124 | +€3,553 | +226.2% |
| Financial charges | 65/66B | €231 | €192 | -€39 | -16.9% |
| Recurring financial charges | 65 | €231 | €192 | -€39 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €11,508 | €3,260 | -€8,248 | -71.7% |
| Income taxes | 67/77 | €412 | €2,188 | +€1,776 | +430.8% |
| Profit (loss) for the period | 9904 | €11,096 | €1,073 | -€10,023 | -90.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,096 | €1,073 | -€10,023 | -90.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.