CVCELEC: 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.
CVCELEC
Largest movements
- Tangible fixed assets -€33,916
down €33,916 (-54.6%), from €62,127 to €28,211
of which Furniture and vehicles: -€28,130
- Receivables within one year -€27,415
down €27,415 (-18.1%), from €151,538 to €124,123
of which Trade receivables: -€53,763
- Trade debts -€115,491
down €115,491 (-75.7%), from €152,527 to €37,036
- Profit (loss) carried forward +€42,056
up €42,056 (+191%), from €22,024 to €64,080
- Tax, wage and social debts +€19,835
up €19,835 (+1,084%), from €1,830 to €21,665
of which Remuneration and social security: +€20,852
- Debts after one year -€7,628
down €7,628 (-26.3%), from €28,984 to €21,356
- Staff costs -€136,262
down €136,262 (-99.5%), from €137,013 to €750
- Gross operating margin -€50,549
down €50,549 (-39.5%), from €127,922 to €77,373
- Depreciation -€8,024
down €8,024 (-22.0%), from €36,463 to €28,439
- Financial charges +€2,238
up €2,238 (+58.1%), from €3,854 to €6,093
- Other operating charges -€2,068
down €2,068 (-96.1%), from €2,153 to €85
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 | €216,467 | €154,674 | -€61,793 | -28.5% |
| Fixed assets | 21/28 | €62,127 | €28,211 | -€33,916 | -54.6% |
| Tangible fixed assets | 22/27 | €62,127 | €28,211 | -€33,916 | -54.6% |
| Land and buildings | 22 | €9,620 | €7,249 | -€2,371 | -24.6% |
| Plant, machinery and equipment | 23 | €5,549 | €2,134 | -€3,415 | -61.5% |
| Furniture and vehicles | 24 | €46,957 | €18,828 | -€28,130 | -59.9% |
| Current assets | 29/58 | €154,340 | €126,464 | -€27,876 | -18.1% |
| Amounts receivable within one year | 40/41 | €151,538 | €124,123 | -€27,415 | -18.1% |
| Trade receivables | 40 | €66,894 | €13,131 | -€53,763 | -80.4% |
| Other amounts receivable | 41 | €84,644 | €110,992 | +€26,348 | +31.1% |
| Cash at bank and in hand | 54/58 | €2,802 | €2,340 | -€462 | -16.5% |
| Total equity and liabilities | 10/49 | €216,467 | €154,674 | -€61,793 | -28.5% |
| Equity | 10/15 | €23,024 | €65,080 | +€42,056 | +183% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,024 | €64,080 | +€42,056 | +191% |
| Amounts payable | 17/49 | €193,443 | €89,594 | -€103,849 | -53.7% |
| Amounts payable after more than one year | 17 | €28,984 | €21,356 | -€7,628 | -26.3% |
| Financial debts | 170/4 | €28,984 | €21,356 | -€7,628 | -26.3% |
| Amounts payable within one year | 42/48 | €164,459 | €68,238 | -€96,222 | -58.5% |
| Current portion of amounts payable after more than one year | 42 | €6,846 | €7,628 | +€781 | +11.4% |
| Trade debts | 44 | €152,527 | €37,036 | -€115,491 | -75.7% |
| Suppliers | 440/4 | €152,527 | €37,036 | -€115,491 | -75.7% |
| Advances received on contracts in progress | 46 | €1,909 | €1,909 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €1,830 | €21,665 | +€19,835 | +1,084% |
| Taxes | 450/3 | €1,017 | - | -€1,017 | |
| Remuneration and social security | 454/9 | €813 | €21,665 | +€20,852 | +2,564% |
| Other amounts payable | 47/48 | €1,347 | - | -€1,347 | |
| Remuneration, social security and pensions | 62 | €137,013 | €750 | -€136,262 | -99.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,463 | €28,439 | -€8,024 | -22.0% |
| Other operating charges | 640/8 | €2,153 | €85 | -€2,068 | -96.1% |
| Gross operating margin | 9900 | €127,922 | €77,373 | -€50,549 | -39.5% |
| Operating profit (loss) | 9901 | -€47,706 | €48,099 | +€95,805 | |
| Financial income | 75/76B | €376 | €50 | -€326 | -86.7% |
| Recurring financial income | 75 | €376 | €50 | -€326 | -86.7% |
| Financial charges | 65/66B | €3,854 | €6,093 | +€2,238 | +58.1% |
| Recurring financial charges | 65 | €3,854 | €6,093 | +€2,238 | +58.1% |
| Profit (loss) for the period before taxes | 9903 | -€51,184 | €42,056 | +€93,241 | |
| Income taxes | 67/77 | €286 | - | -€286 | |
| Profit (loss) for the period | 9904 | -€51,470 | €42,056 | +€93,527 | |
| Profit (loss) for the period to be appropriated | 9905 | -€51,470 | €42,056 | +€93,527 |
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 22 October 2026 via checked.be.