CVAMA: 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.
CVAMA
Largest movements
- Tangible fixed assets +€11,900
up €11,900 (+4.0%), from €299,156 to €311,056
of which Land and buildings: +€23,569
- Receivables within one year +€4,074
new in 2025: €4,074
of which Trade receivables: +€3,074
- Debts after one year +€12,031
up €12,031 (+4.4%), from €274,218 to €286,249
- Profit (loss) carried forward -€7,213
down €7,213 (-80.4%), from €8,972 to €1,760
- Current portion of long-term debt +€4,188
up €4,188 (+20.1%), from €20,813 to €25,001
- Depreciation +€7,849
up €7,849 (+42.2%), from €18,613 to €26,462
- Gross operating margin -€3,709
down €3,709 (-10.9%), from €34,075 to €30,366
- Financial charges +€1,270
up €1,270 (+16.8%), from €7,542 to €8,812
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 | €313,430 | €325,386 | +€11,956 | +3.8% |
| Formation expenses | 20 | €166 | €71 | -€95 | -57.1% |
| Fixed assets | 21/28 | €299,156 | €311,056 | +€11,900 | +4.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €299,156 | €311,056 | +€11,900 | +4.0% |
| Land and buildings | 22 | €202,540 | €226,108 | +€23,569 | +11.6% |
| Plant, machinery and equipment | 23 | €96,616 | €84,948 | -€11,668 | -12.1% |
| Current assets | 29/58 | €14,108 | €14,259 | +€150 | +1.1% |
| Amounts receivable within one year | 40/41 | - | €4,074 | +€4,074 | |
| Trade receivables | 40 | - | €3,074 | +€3,074 | |
| Other amounts receivable | 41 | - | €1,000 | +€1,000 | |
| Cash at bank and in hand | 54/58 | €12,262 | €10,185 | -€2,077 | -16.9% |
| Deferred charges and accrued income | 490/1 | €1,846 | €0 | -€1,846 | -100.0% |
| Total equity and liabilities | 10/49 | €313,430 | €325,386 | +€11,956 | +3.8% |
| Equity | 10/15 | €15,402 | €8,189 | -€7,213 | -46.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €230 | €230 | = | 0.0% |
| Distributable reserves | 133 | €230 | €230 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,972 | €1,760 | -€7,213 | -80.4% |
| Amounts payable | 17/49 | €298,028 | €317,197 | +€19,169 | +6.4% |
| Amounts payable after more than one year | 17 | €274,218 | €286,249 | +€12,031 | +4.4% |
| Financial debts | 170/4 | €274,218 | €286,249 | +€12,031 | +4.4% |
| Amounts payable within one year | 42/48 | €22,385 | €28,549 | +€6,163 | +27.5% |
| Current portion of amounts payable after more than one year | 42 | €20,813 | €25,001 | +€4,188 | +20.1% |
| Trade debts | 44 | €933 | €2,811 | +€1,878 | +201.2% |
| Suppliers | 440/4 | €933 | €2,811 | +€1,878 | +201.2% |
| Taxes, remuneration and social security | 45 | €121 | €0 | -€121 | -100.0% |
| Taxes | 450/3 | €121 | €0 | -€121 | -100.0% |
| Other amounts payable | 47/48 | €518 | €737 | +€219 | +42.2% |
| Accrued charges and deferred income | 492/3 | €1,425 | €2,398 | +€974 | +68.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,613 | €26,462 | +€7,849 | +42.2% |
| Other operating charges | 640/8 | €2,135 | €2,305 | +€170 | +8.0% |
| Gross operating margin | 9900 | €34,075 | €30,366 | -€3,709 | -10.9% |
| Operating profit (loss) | 9901 | €13,327 | €1,599 | -€11,728 | -88.0% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €7,542 | €8,812 | +€1,270 | +16.8% |
| Recurring financial charges | 65 | €7,542 | €8,812 | +€1,270 | +16.8% |
| Profit (loss) for the period before taxes | 9903 | €5,786 | -€7,213 | -€12,998 | |
| Income taxes | 67/77 | €121 | €0 | -€121 | -100.0% |
| Profit (loss) for the period | 9904 | €5,665 | -€7,213 | -€12,878 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,665 | -€7,213 | -€12,878 |
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 4 October 2026 via checked.be.