CV²: 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.
CV²
Largest movements
- Tangible fixed assets -€10,203
down €10,203 (-7.0%), from €146,627 to €136,424
of which Land and buildings: -€12,282
- Cash -€9,623
down €9,623 (-25.7%), from €37,496 to €27,874
mainly Debts after one year (-€12,787) and Investment in fixed assets (net) (-€8,552)
- Intangible fixed assets +€2,380
new in 2025: €2,380
- Debts after one year -€12,787
down €12,787 (-15.9%), from €80,552 to €67,765
- Current portion of long-term debt -€5,521
down €5,521 (-29.9%), from €18,486 to €12,964
- Reserves +€4,000
up €4,000 (+7.8%), from €51,192 to €55,192
of which Distributable reserves: +€4,000
- Trade debts -€2,498
down €2,498 (-29.6%), from €8,448 to €5,950
- Staff costs +€14,993
new in 2025: €14,993
- Gross operating margin +€14,825
up €14,825 (+44.4%), from €33,416 to €48,241
- Other operating charges +€6,704
up €6,704 (+541.7%), from €1,238 to €7,941
- Taxes -€2,192
down €2,192 (-53.9%), from €4,068 to €1,877
- Depreciation +€488
up €488 (+3.1%), from €15,692 to €16,181
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 | €194,768 | €176,816 | -€17,952 | -9.2% |
| Fixed assets | 21/28 | €146,717 | €139,088 | -€7,629 | -5.2% |
| Intangible fixed assets | 21 | - | €2,380 | +€2,380 | |
| Tangible fixed assets | 22/27 | €146,627 | €136,424 | -€10,203 | -7.0% |
| Land and buildings | 22 | €139,488 | €127,206 | -€12,282 | -8.8% |
| Furniture and vehicles | 24 | €7,139 | €9,219 | +€2,080 | +29.1% |
| Financial fixed assets | 28 | €90 | €284 | +€194 | +215.0% |
| Current assets | 29/58 | €48,051 | €37,728 | -€10,323 | -21.5% |
| Stocks and contracts in progress | 3 | €7,977 | €7,221 | -€756 | -9.5% |
| Stocks | 30/36 | €7,977 | €7,221 | -€756 | -9.5% |
| Amounts receivable within one year | 40/41 | €2,432 | €2,432 | = | 0.0% |
| Other amounts receivable | 41 | €2,432 | €2,432 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €37,496 | €27,874 | -€9,623 | -25.7% |
| Deferred charges and accrued income | 490/1 | €146 | €201 | +€55 | +37.7% |
| Total equity and liabilities | 10/49 | €194,768 | €176,816 | -€17,952 | -9.2% |
| Equity | 10/15 | €69,399 | €73,739 | +€4,339 | +6.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €51,192 | €55,192 | +€4,000 | +7.8% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €49,337 | €53,337 | +€4,000 | +8.1% |
| Profit (loss) carried forward | 14 | €12,007 | €12,346 | +€339 | +2.8% |
| Amounts payable | 17/49 | €125,369 | €103,077 | -€22,292 | -17.8% |
| Amounts payable after more than one year | 17 | €80,552 | €67,765 | -€12,787 | -15.9% |
| Financial debts | 170/4 | €80,552 | €67,765 | -€12,787 | -15.9% |
| Amounts payable within one year | 42/48 | €44,817 | €35,155 | -€9,662 | -21.6% |
| Current portion of amounts payable after more than one year | 42 | €18,486 | €12,964 | -€5,521 | -29.9% |
| Trade debts | 44 | €8,448 | €5,950 | -€2,498 | -29.6% |
| Suppliers | 440/4 | €8,448 | €5,950 | -€2,498 | -29.6% |
| Taxes, remuneration and social security | 45 | €7,378 | €5,753 | -€1,624 | -22.0% |
| Taxes | 450/3 | €7,378 | €5,753 | -€1,624 | -22.0% |
| Remuneration and social security | 454/9 | - | €0 | = | |
| Other amounts payable | 47/48 | €10,506 | €10,487 | -€19 | -0.2% |
| Accrued charges and deferred income | 492/3 | - | €157 | +€157 | |
| Remuneration, social security and pensions | 62 | - | €14,993 | +€14,993 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,692 | €16,181 | +€488 | +3.1% |
| Other operating charges | 640/8 | €1,238 | €7,941 | +€6,704 | +541.7% |
| Gross operating margin | 9900 | €33,416 | €48,241 | +€14,825 | +44.4% |
| Operating profit (loss) | 9901 | €16,486 | €9,126 | -€7,360 | -44.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3,281 | €2,910 | -€371 | -11.3% |
| Recurring financial charges | 65 | €3,281 | €2,910 | -€371 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €13,205 | €6,216 | -€6,989 | -52.9% |
| Income taxes | 67/77 | €4,068 | €1,877 | -€2,192 | -53.9% |
| Profit (loss) for the period | 9904 | €9,136 | €4,339 | -€4,797 | -52.5% |
| Profit (loss) for the period to be appropriated | 9905 | €9,136 | €4,339 | -€4,797 | -52.5% |
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 8 October 2026 via checked.be.