CVE: 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.
CVE
Largest movements
- Cash +€80,977
up €80,977 (+383.6%), from €21,110 to €102,087
mainly Net result for the year (+€86,099) and Tax, wage and social debts (+€5,779)
- Tangible fixed assets +€8,478
new in 2025: €8,478
- Receivables within one year +€3,902
up €3,902 (+22.1%), from €17,623 to €21,525
- Reserves +€86,099
up €86,099 (+330.3%), from €26,068 to €112,167
- Tax, wage and social debts +€5,779
up €5,779 (+121.2%), from €4,769 to €10,548
of which Taxes: +€5,779
- Trade debts -€3,119
down €3,119 (-99.7%), from €3,127 to €8
- Accrued charges and deferred income +€2,827
up €2,827 (+1469.9%), from €192 to €3,019
- Other debts +€1,771
up €1,771 (+307.6%), from €576 to €2,347
- Gross operating margin +€77,106
up €77,106 (+220.0%), from €35,042 to €112,148
- Taxes +€16,779
up €16,779 (+223.2%), from €7,519 to €24,298
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 | €38,733 | €132,090 | +€93,357 | +241.0% |
| Fixed assets | 21/28 | - | €8,478 | +€8,478 | |
| Tangible fixed assets | 22/27 | - | €8,478 | +€8,478 | |
| Furniture and vehicles | 24 | - | €8,478 | +€8,478 | |
| Current assets | 29/58 | €38,733 | €123,612 | +€84,879 | +219.1% |
| Amounts receivable within one year | 40/41 | €17,623 | €21,525 | +€3,902 | +22.1% |
| Trade receivables | 40 | €17,623 | €21,525 | +€3,902 | +22.1% |
| Cash at bank and in hand | 54/58 | €21,110 | €102,087 | +€80,977 | +383.6% |
| Total equity and liabilities | 10/49 | €38,733 | €132,090 | +€93,357 | +241.0% |
| Equity | 10/15 | €30,068 | €116,167 | +€86,099 | +286.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €26,068 | €112,167 | +€86,099 | +330.3% |
| Distributable reserves | 133 | €26,068 | €112,167 | +€86,099 | +330.3% |
| Amounts payable | 17/49 | €8,664 | €15,923 | +€7,259 | +83.8% |
| Amounts payable within one year | 42/48 | €8,472 | €12,904 | +€4,432 | +52.3% |
| Trade debts | 44 | €3,127 | €8 | -€3,119 | -99.7% |
| Suppliers | 440/4 | €3,127 | €8 | -€3,119 | -99.7% |
| Taxes, remuneration and social security | 45 | €4,769 | €10,548 | +€5,779 | +121.2% |
| Taxes | 450/3 | €2,369 | €8,148 | +€5,779 | +244.0% |
| Remuneration and social security | 454/9 | €2,400 | €2,400 | = | 0.0% |
| Other amounts payable | 47/48 | €576 | €2,347 | +€1,771 | +307.6% |
| Accrued charges and deferred income | 492/3 | €192 | €3,019 | +€2,827 | +1469.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €924 | +€924 | |
| Other operating charges | 640/8 | €1,023 | €707 | -€316 | -30.9% |
| Gross operating margin | 9900 | €35,042 | €112,148 | +€77,106 | +220.0% |
| Operating profit (loss) | 9901 | €34,019 | €110,516 | +€76,497 | +224.9% |
| Financial charges | 65/66B | €432 | €120 | -€313 | -72.3% |
| Recurring financial charges | 65 | €432 | €120 | -€313 | -72.3% |
| Profit (loss) for the period before taxes | 9903 | €33,587 | €110,397 | +€76,809 | +228.7% |
| Income taxes | 67/77 | €7,519 | €24,298 | +€16,779 | +223.2% |
| Profit (loss) for the period | 9904 | €26,068 | €86,099 | +€60,030 | +230.3% |
| Profit (loss) for the period to be appropriated | 9905 | €26,068 | €86,099 | +€60,030 | +230.3% |
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 7 October 2026 via checked.be.