CVDH Management: what changed
CVDH Management
Largest movements
- Cash +€32,577
up €32,577 (+113%), from €28,775 to €61,352
mainly Net result for the year (+€35,611) and Depreciation (+€16,662)
- Tangible fixed assets -€16,662
down €16,662 (-22.7%), from €73,436 to €56,774
of which Leasing and similar rights: -€15,383
- Reserves +€35,611
up €35,611 (+118%), from €30,186 to €65,796
- Debts after one year -€11,361
down €11,361 (-27.2%), from €41,733 to €30,372
- Tax, wage and social debts -€5,887
down €5,887 (-29.0%), from €20,300 to €14,413
of which Taxes: -€5,887
- Trade debts -€2,889
down €2,889 (-84.2%), from €3,430 to €541
- Gross operating margin +€16,355
up €16,355 (+30.4%), from €53,758 to €70,113
- Depreciation +€9,347
up €9,347 (+128%), from €7,315 to €16,662
- Taxes +€2,338
up €2,338 (+20.2%), from €11,547 to €13,884
- Other operating charges -€1,702
down €1,702 (-51.4%), from €3,313 to €1,611
- Financial charges +€947
up €947 (+67.8%), from €1,398 to €2,345
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €139,860 | €155,826 | +€15,966 | +11.4% |
| Fixed assets | 21/28 | €73,436 | €56,774 | -€16,662 | -22.7% |
| Tangible fixed assets | 22/27 | €73,436 | €56,774 | -€16,662 | -22.7% |
| Plant, machinery and equipment | 23 | €2,463 | €1,629 | -€833 | -33.8% |
| Furniture and vehicles | 24 | €1,289 | €842 | -€446 | -34.6% |
| Leasing and similar rights | 25 | €69,685 | €54,303 | -€15,383 | -22.1% |
| Current assets | 29/58 | €66,423 | €99,052 | +€32,628 | +49.1% |
| Stocks and contracts in progress | 3 | €25,000 | €25,000 | = | 0.0% |
| Stocks | 30/36 | €25,000 | €25,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €11,858 | €11,858 | = | 0.0% |
| Trade receivables | 40 | €11,858 | €11,858 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €28,775 | €61,352 | +€32,577 | +113% |
| Deferred charges and accrued income | 490/1 | €791 | €842 | +€51 | +6.5% |
| Total equity and liabilities | 10/49 | €139,860 | €155,826 | +€15,966 | +11.4% |
| Equity | 10/15 | €35,186 | €70,796 | +€35,611 | +101% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €30,186 | €65,796 | +€35,611 | +118% |
| Distributable reserves | 133 | €30,186 | €65,796 | +€35,611 | +118% |
| Amounts payable | 17/49 | €104,674 | €85,030 | -€19,644 | -18.8% |
| Amounts payable after more than one year | 17 | €41,733 | €30,372 | -€11,361 | -27.2% |
| Financial debts | 170/4 | €41,733 | €30,372 | -€11,361 | -27.2% |
| Amounts payable within one year | 42/48 | €62,941 | €54,657 | -€8,283 | -13.2% |
| Current portion of amounts payable after more than one year | 42 | €10,936 | €11,361 | +€425 | +3.9% |
| Trade debts | 44 | €3,430 | €541 | -€2,889 | -84.2% |
| Suppliers | 440/4 | €3,430 | €541 | -€2,889 | -84.2% |
| Taxes, remuneration and social security | 45 | €20,300 | €14,413 | -€5,887 | -29.0% |
| Taxes | 450/3 | €18,450 | €12,563 | -€5,887 | -31.9% |
| Remuneration and social security | 454/9 | €1,850 | €1,850 | = | 0.0% |
| Other amounts payable | 47/48 | €28,275 | €28,343 | +€68 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,315 | €16,662 | +€9,347 | +128% |
| Other operating charges | 640/8 | €3,313 | €1,611 | -€1,702 | -51.4% |
| Gross operating margin | 9900 | €53,758 | €70,113 | +€16,355 | +30.4% |
| Operating profit (loss) | 9901 | €43,130 | €51,840 | +€8,710 | +20.2% |
| Financial charges | 65/66B | €1,398 | €2,345 | +€947 | +67.8% |
| Recurring financial charges | 65 | €1,398 | €2,345 | +€947 | +67.8% |
| Profit (loss) for the period before taxes | 9903 | €41,732 | €49,495 | +€7,762 | +18.6% |
| Income taxes | 67/77 | €11,547 | €13,884 | +€2,338 | +20.2% |
| Profit (loss) for the period | 9904 | €30,186 | €35,611 | +€5,425 | +18.0% |
| Profit (loss) for the period to be appropriated | 9905 | €30,186 | €35,611 | +€5,425 | +18.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.