Cvdb: 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.
Cvdb
Largest movements
- Cash +€224,125
up €224,125 (+482.8%), from €46,424 to €270,549
mainly Receivables within one year (+€179,651) and Net result for the year (+€30,912)
- Receivables within one year -€179,651
down €179,651 (-98.9%), from €181,670 to €2,019
of which Trade receivables: -€173,894
- Stocks and contracts -€26,100
down €26,100 (-100.0%), from €26,100 to €0
- Reserves +€30,912
up €30,912 (+26.0%), from €118,675 to €149,587
- Trade debts -€29,727
down €29,727 (-79.5%), from €37,396 to €7,669
- Tax, wage and social debts +€29,137
up €29,137 (+943.7%), from €3,088 to €32,225
of which Taxes: +€29,103
- Other debts -€13,855
down €13,855 (-18.2%), from €76,131 to €62,276
- Debts after one year -€3,125
down €3,125 (-23.3%), from €13,410 to €10,285
- Gross operating margin +€8,020
up €8,020 (+17.4%), from €46,055 to €54,075
- Taxes +€2,686
up €2,686 (+20.8%), from €12,884 to €15,570
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 | €273,129 | €289,421 | +€16,292 | +6.0% |
| Fixed assets | 21/28 | €11,421 | €9,323 | -€2,099 | -18.4% |
| Tangible fixed assets | 22/27 | €8,321 | €6,223 | -€2,099 | -25.2% |
| Land and buildings | 22 | €3,271 | €2,670 | -€601 | -18.4% |
| Plant, machinery and equipment | 23 | - | €721 | +€721 | |
| Furniture and vehicles | 24 | €5,050 | €2,832 | -€2,218 | -43.9% |
| Financial fixed assets | 28 | €3,100 | €3,100 | = | 0.0% |
| Current assets | 29/58 | €261,708 | €280,098 | +€18,391 | +7.0% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Trade receivables | 290 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €26,100 | €0 | -€26,100 | -100.0% |
| Stocks | 30/36 | €26,100 | €0 | -€26,100 | -100.0% |
| Amounts receivable within one year | 40/41 | €181,670 | €2,019 | -€179,651 | -98.9% |
| Trade receivables | 40 | €175,450 | €1,556 | -€173,894 | -99.1% |
| Other amounts receivable | 41 | €6,220 | €463 | -€5,757 | -92.6% |
| Current investments | 50/53 | €5,220 | €5,220 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €46,424 | €270,549 | +€224,125 | +482.8% |
| Deferred charges and accrued income | 490/1 | €2,294 | €2,311 | +€17 | +0.7% |
| Total equity and liabilities | 10/49 | €273,129 | €289,421 | +€16,292 | +6.0% |
| Equity | 10/15 | €137,275 | €168,187 | +€30,912 | +22.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €118,675 | €149,587 | +€30,912 | +26.0% |
| Distributable reserves | 133 | €118,675 | €149,587 | +€30,912 | +26.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €135,854 | €121,234 | -€14,620 | -10.8% |
| Amounts payable after more than one year | 17 | €13,410 | €10,285 | -€3,125 | -23.3% |
| Financial debts | 170/4 | €13,410 | €10,285 | -€3,125 | -23.3% |
| Amounts payable within one year | 42/48 | €119,752 | €108,013 | -€11,740 | -9.8% |
| Current portion of amounts payable after more than one year | 42 | €3,027 | €3,125 | +€98 | +3.2% |
| Financial debts | 43 | €111 | €2,718 | +€2,607 | +2350.2% |
| Credit institutions | 430/8 | €111 | €2,718 | +€2,607 | +2350.2% |
| Trade debts | 44 | €37,396 | €7,669 | -€29,727 | -79.5% |
| Suppliers | 440/4 | €37,396 | €7,669 | -€29,727 | -79.5% |
| Taxes, remuneration and social security | 45 | €3,088 | €32,225 | +€29,137 | +943.7% |
| Taxes | 450/3 | €1,079 | €30,182 | +€29,103 | +2697.1% |
| Remuneration and social security | 454/9 | €2,009 | €2,043 | +€35 | +1.7% |
| Other amounts payable | 47/48 | €76,131 | €62,276 | -€13,855 | -18.2% |
| Accrued charges and deferred income | 492/3 | €2,692 | €2,936 | +€245 | +9.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,492 | €3,048 | -€444 | -12.7% |
| Other operating charges | 640/8 | €1,270 | €1,210 | -€60 | -4.7% |
| Gross operating margin | 9900 | €46,055 | €54,075 | +€8,020 | +17.4% |
| Operating profit (loss) | 9901 | €41,294 | €49,817 | +€8,523 | +20.6% |
| Financial income | 75/76B | €41 | €5 | -€36 | -88.6% |
| Recurring financial income | 75 | €41 | €5 | -€36 | -88.6% |
| Financial charges | 65/66B | €3,472 | €3,339 | -€133 | -3.8% |
| Recurring financial charges | 65 | €3,472 | €3,339 | -€133 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | €37,863 | €46,483 | +€8,620 | +22.8% |
| Income taxes | 67/77 | €12,884 | €15,570 | +€2,686 | +20.8% |
| Profit (loss) for the period | 9904 | €24,978 | €30,912 | +€5,934 | +23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,978 | €30,912 | +€5,934 | +23.8% |
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 3 October 2026 via checked.be.