cvc-dak: 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.
cvc-dak
Largest movements
- Stocks and contracts +€161,757
up €161,757 (+38.6%), from €418,539 to €580,296
- Cash -€100,016
down €100,016 (-42.5%), from €235,495 to €135,479
mainly Stocks and contracts (-€161,757) and Investment in fixed assets (net) (-€23,113)
- Tangible fixed assets +€12,003
up €12,003 (+35.8%), from €33,511 to €45,513
of which Furniture and vehicles: +€13,367
- Receivables within one year -€8,366
down €8,366 (-40.5%), from €20,639 to €12,273
of which Other amounts receivable: -€7,008
- Trade debts +€34,952
up €34,952 (+123%), from €28,384 to €63,335
- Reserves +€12,081
up €12,081 (+5.6%), from €217,111 to €229,192
- Accrued charges and deferred income -€12,052
down €12,052 (-62.3%), from €19,336 to €7,284
- Tax, wage and social debts +€11,160
up €11,160 (+75.1%), from €14,870 to €26,030
- Debts after one year +€8,696
new in 2025: €8,696
- Depreciation +€8,262
up €8,262 (+290%), from €2,848 to €11,110
- Financial charges +€7,843
up €7,843 (+250%), from €3,133 to €10,977
- Gross operating margin -€7,771
down €7,771 (-15.5%), from €49,991 to €42,221
- Taxes -€7,028
down €7,028 (-48.6%), from €14,457 to €7,430
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 | €714,497 | €776,665 | +€62,168 | +8.7% |
| Fixed assets | 21/28 | €33,511 | €45,513 | +€12,003 | +35.8% |
| Tangible fixed assets | 22/27 | €33,511 | €45,513 | +€12,003 | +35.8% |
| Plant, machinery and equipment | 23 | €2,679 | €1,315 | -€1,364 | -50.9% |
| Furniture and vehicles | 24 | €30,832 | €44,199 | +€13,367 | +43.4% |
| Current assets | 29/58 | €680,986 | €731,152 | +€50,165 | +7.4% |
| Stocks and contracts in progress | 3 | €418,539 | €580,296 | +€161,757 | +38.6% |
| Stocks | 30/36 | €418,539 | €580,296 | +€161,757 | +38.6% |
| Amounts receivable within one year | 40/41 | €20,639 | €12,273 | -€8,366 | -40.5% |
| Trade receivables | 40 | €10,768 | €9,411 | -€1,358 | -12.6% |
| Other amounts receivable | 41 | €9,871 | €2,863 | -€7,008 | -71.0% |
| Cash at bank and in hand | 54/58 | €235,495 | €135,479 | -€100,016 | -42.5% |
| Deferred charges and accrued income | 490/1 | €6,313 | €3,103 | -€3,210 | -50.8% |
| Total equity and liabilities | 10/49 | €714,497 | €776,665 | +€62,168 | +8.7% |
| Equity | 10/15 | €229,511 | €241,592 | +€12,081 | +5.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €217,111 | €229,192 | +€12,081 | +5.6% |
| Distributable reserves | 133 | €217,111 | €229,192 | +€12,081 | +5.6% |
| Amounts payable | 17/49 | €484,987 | €535,073 | +€50,086 | +10.3% |
| Amounts payable after more than one year | 17 | - | €8,696 | +€8,696 | |
| Financial debts | 170/4 | - | €8,696 | +€8,696 | |
| Amounts payable within one year | 42/48 | €465,651 | €519,093 | +€53,442 | +11.5% |
| Current portion of amounts payable after more than one year | 42 | €280,000 | €283,650 | +€3,650 | +1.3% |
| Trade debts | 44 | €28,384 | €63,335 | +€34,952 | +123% |
| Suppliers | 440/4 | €28,384 | €63,335 | +€34,952 | +123% |
| Taxes, remuneration and social security | 45 | €14,870 | €26,030 | +€11,160 | +75.1% |
| Taxes | 450/3 | €14,870 | €26,030 | +€11,160 | +75.1% |
| Other amounts payable | 47/48 | €142,398 | €146,077 | +€3,679 | +2.6% |
| Accrued charges and deferred income | 492/3 | €19,336 | €7,284 | -€12,052 | -62.3% |
| Non-recurring operating income | 76A | - | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,848 | €11,110 | +€8,262 | +290% |
| Other operating charges | 640/8 | €964 | €902 | -€62 | -6.4% |
| Gross operating margin | 9900 | €49,991 | €42,221 | -€7,771 | -15.5% |
| Operating profit (loss) | 9901 | €46,180 | €30,209 | -€15,971 | -34.6% |
| Financial income | 75/76B | €558 | €279 | -€279 | -49.9% |
| Recurring financial income | 75 | €558 | €279 | -€279 | -49.9% |
| Financial charges | 65/66B | €3,133 | €10,977 | +€7,843 | +250% |
| Recurring financial charges | 65 | €3,133 | €10,977 | +€7,843 | +250% |
| Profit (loss) for the period before taxes | 9903 | €43,604 | €19,511 | -€24,093 | -55.3% |
| Income taxes | 67/77 | €14,457 | €7,430 | -€7,028 | -48.6% |
| Profit (loss) for the period | 9904 | €29,147 | €12,081 | -€17,066 | -58.6% |
| Profit (loss) for the period to be appropriated | 9905 | €29,147 | €12,081 | -€17,066 | -58.6% |
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 19 October 2026 via checked.be.