CVDM: 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.
CVDM
Largest movements
- Tangible fixed assets -€81,392
down €81,392 (-60.4%), from €134,742 to €53,350
of which Plant, machinery and equipment: -€62,484
- Cash +€31,991
up €31,991 (+53.1%), from €60,227 to €92,217
mainly Depreciation (+€88,152) and Other debts (+€17,208)
- Intangible fixed assets -€6,761
no longer reported in 2025 (was €6,761)
- Current portion of long-term debt -€58,425
down €58,425 (-64.6%), from €90,416 to €31,991
- Debts after one year -€31,991
down €31,991 (-54.1%), from €59,119 to €27,128
- Other debts +€17,208
up €17,208 (+36.5%), from €47,159 to €64,367
- Profit (loss) carried forward +€13,340
up €13,340 (+10.0%), from -€132,773 to -€119,433
- Trade debts +€3,705
new in 2025: €3,705
- Depreciation -€6,042
down €6,042 (-6.4%), from €94,195 to €88,152
- Gross operating margin -€1,841
down €1,841 (-1.7%), from €108,104 to €106,263
- Financial charges -€1,553
down €1,553 (-28.8%), from €5,395 to €3,842
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 | €211,729 | €155,568 | -€56,162 | -26.5% |
| Fixed assets | 21/28 | €141,502 | €53,350 | -€88,152 | -62.3% |
| Intangible fixed assets | 21 | €6,761 | - | -€6,761 | |
| Tangible fixed assets | 22/27 | €134,742 | €53,350 | -€81,392 | -60.4% |
| Plant, machinery and equipment | 23 | €62,484 | - | -€62,484 | |
| Furniture and vehicles | 24 | €72,258 | €53,350 | -€18,908 | -26.2% |
| Current assets | 29/58 | €70,227 | €102,217 | +€31,991 | +45.6% |
| Amounts receivable within one year | 40/41 | €10,000 | €10,000 | = | 0.0% |
| Trade receivables | 40 | €10,000 | €10,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €60,227 | €92,217 | +€31,991 | +53.1% |
| Total equity and liabilities | 10/49 | €211,729 | €155,568 | -€56,162 | -26.5% |
| Equity | 10/15 | €15,036 | €28,376 | +€13,340 | +88.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €129,209 | €129,209 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €24,132 | €24,132 | = | 0.0% |
| Distributable reserves | 133 | €103,217 | €103,217 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€132,773 | -€119,433 | +€13,340 | +10.0% |
| Amounts payable | 17/49 | €196,693 | €127,191 | -€69,502 | -35.3% |
| Amounts payable after more than one year | 17 | €59,119 | €27,128 | -€31,991 | -54.1% |
| Financial debts | 170/4 | €59,119 | €27,128 | -€31,991 | -54.1% |
| Amounts payable within one year | 42/48 | €137,574 | €100,063 | -€37,511 | -27.3% |
| Current portion of amounts payable after more than one year | 42 | €90,416 | €31,991 | -€58,425 | -64.6% |
| Trade debts | 44 | - | €3,705 | +€3,705 | |
| Suppliers | 440/4 | - | €3,705 | +€3,705 | |
| Other amounts payable | 47/48 | €47,159 | €64,367 | +€17,208 | +36.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,195 | €88,152 | -€6,042 | -6.4% |
| Other operating charges | 640/8 | €1,044 | €928 | -€116 | -11.1% |
| Gross operating margin | 9900 | €108,104 | €106,263 | -€1,841 | -1.7% |
| Operating profit (loss) | 9901 | €12,865 | €17,182 | +€4,318 | +33.6% |
| Financial income | 75/76B | €41 | - | -€41 | |
| Recurring financial income | 75 | €41 | - | -€41 | |
| Financial charges | 65/66B | €5,395 | €3,842 | -€1,553 | -28.8% |
| Recurring financial charges | 65 | €5,395 | €3,842 | -€1,553 | -28.8% |
| Profit (loss) for the period before taxes | 9903 | €7,510 | €13,340 | +€5,830 | +77.6% |
| Profit (loss) for the period | 9904 | €7,510 | €13,340 | +€5,830 | +77.6% |
| Profit (loss) for the period to be appropriated | 9905 | €7,510 | €13,340 | +€5,830 | +77.6% |
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 8 October 2026 via checked.be.