CV14: 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.
CV14
Largest movements
- Stocks and contracts +€353,803
up €353,803 (+1296.2%), from €27,295 to €381,098
- Cash -€30,999
down €30,999 (-13.2%), from €234,743 to €203,744
mainly Stocks and contracts (-€353,803) and Receivables within one year (-€19,288)
- Receivables within one year +€19,288
up €19,288 (+251.3%), from €7,676 to €26,964
of which Other amounts receivable: +€19,272
- Current portion of long-term debt +€314,183
up €314,183 (+15372.6%), from €2,044 to €316,227
- Reserves +€41,478
up €41,478 (+85.5%), from €48,490 to €89,967
- Gross operating margin -€89,974
down €89,974 (-57.0%), from €157,875 to €67,901
- Taxes -€10,302
down €10,302 (-32.8%), from €31,430 to €21,129
- Financial charges -€10,047
down €10,047 (-77.9%), from €12,899 to €2,851
- Depreciation -€2,274
down €2,274 (-60.5%), from €3,757 to €1,482
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 | €271,557 | €615,738 | +€344,181 | +126.7% |
| Fixed assets | 21/28 | €1,532 | €3,067 | +€1,534 | +100.1% |
| Tangible fixed assets | 22/27 | €1,482 | €3,017 | +€1,534 | +103.5% |
| Furniture and vehicles | 24 | €1,482 | - | -€1,482 | |
| Other tangible fixed assets | 26 | - | €3,017 | +€3,017 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €270,025 | €612,671 | +€342,647 | +126.9% |
| Stocks and contracts in progress | 3 | €27,295 | €381,098 | +€353,803 | +1296.2% |
| Stocks | 30/36 | €27,295 | €381,098 | +€353,803 | +1296.2% |
| Amounts receivable within one year | 40/41 | €7,676 | €26,964 | +€19,288 | +251.3% |
| Trade receivables | 40 | €107 | €123 | +€16 | +15.1% |
| Other amounts receivable | 41 | €7,569 | €26,841 | +€19,272 | +254.6% |
| Cash at bank and in hand | 54/58 | €234,743 | €203,744 | -€30,999 | -13.2% |
| Deferred charges and accrued income | 490/1 | €310 | €865 | +€555 | +179.0% |
| Total equity and liabilities | 10/49 | €271,557 | €615,738 | +€344,181 | +126.7% |
| Equity | 10/15 | €248,010 | €289,488 | +€41,478 | +16.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €48,490 | €89,967 | +€41,478 | +85.5% |
| Non-distributable reserves | 130/1 | €48,490 | €89,967 | +€41,478 | +85.5% |
| Other | 1319 | €48,490 | €89,967 | +€41,478 | +85.5% |
| Profit (loss) carried forward | 14 | €197,021 | €197,021 | = | 0.0% |
| Amounts payable | 17/49 | €23,547 | €326,250 | +€302,703 | +1285.5% |
| Amounts payable after more than one year | 17 | €3,038 | €911 | -€2,127 | -70.0% |
| Financial debts | 170/4 | €3,038 | €911 | -€2,127 | -70.0% |
| Amounts payable within one year | 42/48 | €20,508 | €325,338 | +€304,830 | +1486.4% |
| Current portion of amounts payable after more than one year | 42 | €2,044 | €316,227 | +€314,183 | +15372.6% |
| Trade debts | 44 | €1,327 | €595 | -€732 | -55.2% |
| Suppliers | 440/4 | €1,327 | €595 | -€732 | -55.2% |
| Taxes, remuneration and social security | 45 | €2,671 | - | -€2,671 | |
| Taxes | 450/3 | €2,671 | - | -€2,671 | |
| Other amounts payable | 47/48 | €14,467 | €8,517 | -€5,950 | -41.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,757 | €1,482 | -€2,274 | -60.5% |
| Other operating charges | 640/8 | €307 | €1,201 | +€894 | +291.3% |
| Gross operating margin | 9900 | €157,875 | €67,901 | -€89,974 | -57.0% |
| Operating profit (loss) | 9901 | €153,811 | €65,218 | -€88,594 | -57.6% |
| Financial income | 75/76B | €290 | €240 | -€50 | -17.2% |
| Recurring financial income | 75 | €290 | €240 | -€50 | -17.2% |
| Financial charges | 65/66B | €12,899 | €2,851 | -€10,047 | -77.9% |
| Recurring financial charges | 65 | €12,899 | €2,851 | -€10,047 | -77.9% |
| Profit (loss) for the period before taxes | 9903 | €141,202 | €62,606 | -€78,596 | -55.7% |
| Income taxes | 67/77 | €31,430 | €21,129 | -€10,302 | -32.8% |
| Profit (loss) for the period | 9904 | €109,772 | €41,478 | -€68,294 | -62.2% |
| Profit (loss) for the period to be appropriated | 9905 | €109,772 | €41,478 | -€68,294 | -62.2% |
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 29 September 2026 via checked.be.