CVBL: 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.
CVBL
Largest movements
- Intangible fixed assets -€21,429
down €21,429 (-14.3%), from €149,941 to €128,513
- Receivables within one year -€18,788
down €18,788 (-15.0%), from €125,546 to €106,758
of which Trade receivables: -€18,476
- Cash -€13,687
down €13,687 (-29.1%), from €47,082 to €33,394
mainly Trade debts (-€128,103) and Contributions, distributions and other (-€96,787)
- Trade debts -€128,103
down €128,103 (-44.0%), from €291,076 to €162,973
- Other debts +€97,214
up €97,214 (+58236.3%), from €167 to €97,381
- Profit (loss) carried forward -€38,139
down €38,139 (-49.9%), from €76,420 to €38,281
- Tax, wage and social debts +€32,929
up €32,929 (+129.6%), from €25,417 to €58,346
of which Remuneration and social security: +€20,850
- Accrued charges and deferred income -€10,055
down €10,055 (-74.2%), from €13,546 to €3,491
- Gross operating margin +€219,367
up €219,367 (+102.0%), from €215,015 to €434,381
- Staff costs +€131,072
up €131,072 (+94.0%), from €139,494 to €270,566
- Depreciation +€32,474
up €32,474 (+141.4%), from €22,971 to €55,445
- Taxes +€14,844
up €14,844 (+154.5%), from €9,605 to €24,448
- Other operating charges -€4,368
down €4,368 (-36.9%), from €11,822 to €7,454
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 | €420,674 | €368,496 | -€52,178 | -12.4% |
| Formation expenses | 20 | €202 | - | -€202 | |
| Fixed assets | 21/28 | €236,731 | €219,200 | -€17,530 | -7.4% |
| Intangible fixed assets | 21 | €149,941 | €128,513 | -€21,429 | -14.3% |
| Tangible fixed assets | 22/27 | €86,789 | €90,687 | +€3,898 | +4.5% |
| Plant, machinery and equipment | 23 | €42,559 | €61,188 | +€18,629 | +43.8% |
| Furniture and vehicles | 24 | €38,013 | €24,148 | -€13,865 | -36.5% |
| Other tangible fixed assets | 26 | €6,217 | €5,351 | -€865 | -13.9% |
| Current assets | 29/58 | €183,741 | €149,296 | -€34,445 | -18.7% |
| Stocks and contracts in progress | 3 | €5,561 | €1,537 | -€4,024 | -72.4% |
| Stocks | 30/36 | €5,561 | €1,537 | -€4,024 | -72.4% |
| Amounts receivable within one year | 40/41 | €125,546 | €106,758 | -€18,788 | -15.0% |
| Trade receivables | 40 | €121,144 | €102,668 | -€18,476 | -15.3% |
| Other amounts receivable | 41 | €4,402 | €4,090 | -€312 | -7.1% |
| Cash at bank and in hand | 54/58 | €47,082 | €33,394 | -€13,687 | -29.1% |
| Deferred charges and accrued income | 490/1 | €5,552 | €7,607 | +€2,054 | +37.0% |
| Total equity and liabilities | 10/49 | €420,674 | €368,496 | -€52,178 | -12.4% |
| Equity | 10/15 | €82,420 | €44,281 | -€38,139 | -46.3% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,420 | €38,281 | -€38,139 | -49.9% |
| Amounts payable | 17/49 | €338,254 | €324,215 | -€14,039 | -4.2% |
| Amounts payable after more than one year | 17 | €2,025 | - | -€2,025 | |
| Financial debts | 170/4 | €2,025 | - | -€2,025 | |
| Amounts payable within one year | 42/48 | €322,684 | €320,725 | -€1,959 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €6,024 | €2,025 | -€3,999 | -66.4% |
| Trade debts | 44 | €291,076 | €162,973 | -€128,103 | -44.0% |
| Suppliers | 440/4 | €291,076 | €162,973 | -€128,103 | -44.0% |
| Taxes, remuneration and social security | 45 | €25,417 | €58,346 | +€32,929 | +129.6% |
| Taxes | 450/3 | €18,875 | €30,954 | +€12,079 | +64.0% |
| Remuneration and social security | 454/9 | €6,542 | €27,392 | +€20,850 | +318.7% |
| Other amounts payable | 47/48 | €167 | €97,381 | +€97,214 | +58236.3% |
| Accrued charges and deferred income | 492/3 | €13,546 | €3,491 | -€10,055 | -74.2% |
| Non-recurring operating income | 76A | - | €1,264 | +€1,264 | |
| Remuneration, social security and pensions | 62 | €139,494 | €270,566 | +€131,072 | +94.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,971 | €55,445 | +€32,474 | +141.4% |
| Other operating charges | 640/8 | €11,822 | €7,454 | -€4,368 | -36.9% |
| Non-recurring operating charges | 66A | €8,195 | €11,630 | +€3,435 | +41.9% |
| Gross operating margin | 9900 | €215,015 | €434,381 | +€219,367 | +102.0% |
| Operating profit (loss) | 9901 | €32,533 | €89,286 | +€56,754 | +174.5% |
| Financial income | 75/76B | €0 | €10 | +€10 | +12987.5% |
| Recurring financial income | 75 | €0 | €10 | +€10 | +12987.5% |
| Financial charges | 65/66B | €3,969 | €6,201 | +€2,232 | +56.2% |
| Recurring financial charges | 65 | €3,969 | €6,201 | +€2,232 | +56.2% |
| Profit (loss) for the period before taxes | 9903 | €28,564 | €83,096 | +€54,532 | +190.9% |
| Income taxes | 67/77 | €9,605 | €24,448 | +€14,844 | +154.5% |
| Profit (loss) for the period | 9904 | €18,959 | €58,648 | +€39,689 | +209.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,959 | €58,648 | +€39,689 | +209.3% |
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 11 October 2026 via checked.be.