CV-K: 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.
CV-K
Largest movements
- Receivables within one year -€68,379
down €68,379 (-49.2%), from €139,099 to €70,720
of which Trade receivables: -€56,927
- Cash +€53,050
up €53,050 (+47.2%), from €112,459 to €165,508
mainly Depreciation (+€75,575) and Receivables within one year (+€68,379)
- Tangible fixed assets -€47,581
down €47,581 (-4.2%), from €1.1m to €1.1m
of which Land and buildings: -€56,947
- Other debts -€80,000
no longer reported in 2025 (was €80,000)
- Trade debts +€20,602
up €20,602 (+158%), from €13,014 to €33,616
- Staff costs +€10,889
up €10,889 (+14.8%), from €73,435 to €84,324
- Depreciation -€8,048
down €8,048 (-9.6%), from €83,623 to €75,575
- Gross operating margin -€5,352
down €5,352 (-3.0%), from €177,244 to €171,892
- Taxes -€2,218
down €2,218 (-48.9%), from €4,532 to €2,314
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 | €1,465,194 | €1,403,193 | -€62,001 | -4.2% |
| Fixed assets | 21/28 | €1,127,481 | €1,079,901 | -€47,581 | -4.2% |
| Tangible fixed assets | 22/27 | €1,127,317 | €1,079,736 | -€47,581 | -4.2% |
| Land and buildings | 22 | €1,053,048 | €996,101 | -€56,947 | -5.4% |
| Plant, machinery and equipment | 23 | €25,331 | €49,624 | +€24,293 | +95.9% |
| Furniture and vehicles | 24 | €48,938 | €34,011 | -€14,927 | -30.5% |
| Financial fixed assets | 28 | €165 | €165 | = | 0.0% |
| Current assets | 29/58 | €337,713 | €323,292 | -€14,421 | -4.3% |
| Amounts receivable within one year | 40/41 | €139,099 | €70,720 | -€68,379 | -49.2% |
| Trade receivables | 40 | €73,613 | €16,686 | -€56,927 | -77.3% |
| Other amounts receivable | 41 | €65,486 | €54,034 | -€11,452 | -17.5% |
| Current investments | 50/53 | €76,500 | €76,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €112,459 | €165,508 | +€53,050 | +47.2% |
| Deferred charges and accrued income | 490/1 | €9,655 | €10,564 | +€908 | +9.4% |
| Total equity and liabilities | 10/49 | €1,465,194 | €1,403,193 | -€62,001 | -4.2% |
| Equity | 10/15 | €1,340,225 | €1,343,185 | +€2,961 | +0.2% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €462,800 | €465,750 | +€2,950 | +0.6% |
| Distributable reserves | 133 | €462,800 | €465,750 | +€2,950 | +0.6% |
| Profit (loss) carried forward | 14 | €871,219 | €871,230 | +€11 | 0.0% |
| Amounts payable | 17/49 | €124,969 | €60,007 | -€64,962 | -52.0% |
| Amounts payable within one year | 42/48 | €124,969 | €60,007 | -€64,962 | -52.0% |
| Trade debts | 44 | €13,014 | €33,616 | +€20,602 | +158% |
| Suppliers | 440/4 | €13,014 | €33,616 | +€20,602 | +158% |
| Taxes, remuneration and social security | 45 | €31,955 | €26,391 | -€5,564 | -17.4% |
| Taxes | 450/3 | €23,661 | €8,718 | -€14,944 | -63.2% |
| Remuneration and social security | 454/9 | €8,294 | €17,673 | +€9,379 | +113% |
| Other amounts payable | 47/48 | €80,000 | - | -€80,000 | |
| Remuneration, social security and pensions | 62 | €73,435 | €84,324 | +€10,889 | +14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,623 | €75,575 | -€8,048 | -9.6% |
| Other operating charges | 640/8 | €7,696 | €8,111 | +€415 | +5.4% |
| Gross operating margin | 9900 | €177,244 | €171,892 | -€5,352 | -3.0% |
| Operating profit (loss) | 9901 | €12,490 | €3,883 | -€8,607 | -68.9% |
| Financial income | 75/76B | €2,394 | €1,680 | -€714 | -29.8% |
| Recurring financial income | 75 | €2,394 | €1,680 | -€714 | -29.8% |
| Financial charges | 65/66B | €481 | €288 | -€193 | -40.1% |
| Recurring financial charges | 65 | €481 | €288 | -€193 | -40.1% |
| Profit (loss) for the period before taxes | 9903 | €14,403 | €5,275 | -€9,128 | -63.4% |
| Income taxes | 67/77 | €4,532 | €2,314 | -€2,218 | -48.9% |
| Profit (loss) for the period | 9904 | €9,871 | €2,961 | -€6,910 | -70.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,871 | €2,961 | -€6,910 | -70.0% |
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 25 October 2026 via checked.be.