CVELEC: what changed
What changed
CVELEC
NACE 43.211, General electrical installation work
filed annual accounts (NBB)
Net result for the year
€316,340
31-12-2024 · €194,396+€121,944
Equity
€620,373
31-12-2024 · €820,373-€200,000
Cash
€532,974
31-12-2024 · €443,341+€89,634
Balance sheet total
€1.3m
31-12-2024 · €1.2m+€92,654
Largest movements
Assets
- Receivables within one year -€95,195
down €95,195 (-28.7%), from €331,268 to €236,073
of which Other amounts receivable: -€51,508
- Cash +€89,634
up €89,634 (+20.2%), from €443,341 to €532,974
mainly Other debts (+€321,944) and Net result for the year (+€316,340)
- Stocks and contracts +€66,250
up €66,250 (+24.7%), from €268,552 to €334,802
of which Stocks: +€43,241
- Current investments +€44,948
up €44,948 (+890%), from €5,052 to €50,000
Equity and liabilities
- Other debts +€321,944
up €321,944 (+166%), from €194,396 to €516,340
- Reserves -€200,000
down €200,000 (-24.9%), from €801,773 to €601,773
- Trade debts -€24,915
down €24,915 (-27.6%), from €90,393 to €65,478
- Current portion of long-term debt -€13,150
down €13,150 (-77.2%), from €17,032 to €3,882
Income statement
- Gross operating margin +€150,735
up €150,735 (+12.5%), from €1.2m to €1.4m
- Taxes +€40,224
up €40,224 (+57.8%), from €69,628 to €109,851
- Write-downs +€26,059
no longer reported in 2025 (was -€26,059)
- Other operating charges -€25,859
down €25,859 (-88.1%), from €29,365 to €3,506
Change in the result, 31-12-2024 to 31-12-2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 31-12-2024
€194,396
Gross operating margin
+€150,735
Staff costs
+€4,221
Depreciation
+€7,467
Write-downs
-€26,059
Other operating charges
+€25,859
Financial income
-€734
Financial charges
+€678
Taxes
-€40,224
Result 31-12-2025
€316,340
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€717,102
Investment
-€94,096
Financing
-€533,372
Cash 31-12-2024
€443,341
From operations (derived)
+€717,102
Net result for the year
+€316,340
Depreciation
+€62,131
Stocks and contracts
-€66,250
Receivables within one year
+€95,195
Trade debts
-€24,915
Tax, wage and social debts
+€12,656
Other debts
+€321,944
Investment (derived)
-€94,096
Investment in fixed assets (net)
-€49,148
Current investments
-€44,948
Financing
-€533,372
Debts after one year
-€3,882
Current portion of long-term debt
-€13,150
Contributions, distributions and other
-€516,340
Cash 31-12-2025
€532,974
brings cash intakes cash out
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,183,814 | €1,276,468 | +€92,654 | +7.8% |
| Fixed assets | 21/28 | €135,602 | €122,619 | -€12,983 | -9.6% |
| Intangible fixed assets | 21 | €3,063 | €1,609 | -€1,455 | -47.5% |
| Tangible fixed assets | 22/27 | €132,496 | €120,968 | -€11,528 | -8.7% |
| Plant, machinery and equipment | 23 | €4,596 | €5,631 | +€1,034 | +22.5% |
| Furniture and vehicles | 24 | €111,309 | €78,075 | -€33,234 | -29.9% |
| Other tangible fixed assets | 26 | €16,591 | €37,263 | +€20,672 | +125% |
| Financial fixed assets | 28 | €42 | €42 | = | 0.0% |
| Current assets | 29/58 | €1,048,212 | €1,153,849 | +€105,636 | +10.1% |
| Stocks and contracts in progress | 3 | €268,552 | €334,802 | +€66,250 | +24.7% |
| Stocks | 30/36 | €188,701 | €231,942 | +€43,241 | +22.9% |
| Contracts in progress | 37 | €79,851 | €102,860 | +€23,009 | +28.8% |
| Amounts receivable within one year | 40/41 | €331,268 | €236,073 | -€95,195 | -28.7% |
| Trade receivables | 40 | €272,767 | €229,079 | -€43,687 | -16.0% |
| Other amounts receivable | 41 | €58,501 | €6,993 | -€51,508 | -88.0% |
| Current investments | 50/53 | €5,052 | €50,000 | +€44,948 | +890% |
| Cash at bank and in hand | 54/58 | €443,341 | €532,974 | +€89,634 | +20.2% |
| Total equity and liabilities | 10/49 | €1,183,814 | €1,276,468 | +€92,654 | +7.8% |
| Equity | 10/15 | €820,373 | €620,373 | -€200,000 | -24.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €801,773 | €601,773 | -€200,000 | -24.9% |
| Distributable reserves | 133 | €801,773 | €601,773 | -€200,000 | -24.9% |
| Amounts payable | 17/49 | €363,441 | €656,095 | +€292,654 | +80.5% |
| Amounts payable after more than one year | 17 | €3,882 | - | -€3,882 | |
| Financial debts | 170/4 | €3,882 | - | -€3,882 | |
| Amounts payable within one year | 42/48 | €359,559 | €656,095 | +€296,536 | +82.5% |
| Current portion of amounts payable after more than one year | 42 | €17,032 | €3,882 | -€13,150 | -77.2% |
| Trade debts | 44 | €90,393 | €65,478 | -€24,915 | -27.6% |
| Suppliers | 440/4 | €90,393 | €65,478 | -€24,915 | -27.6% |
| Taxes, remuneration and social security | 45 | €57,737 | €70,393 | +€12,656 | +21.9% |
| Taxes | 450/3 | €10,971 | €23,982 | +€13,011 | +119% |
| Remuneration and social security | 454/9 | €46,766 | €46,412 | -€354 | -0.8% |
| Other amounts payable | 47/48 | €194,396 | €516,340 | +€321,944 | +166% |
| Non-recurring operating income | 76A | €0 | €7,570 | +€7,570 | |
| Remuneration, social security and pensions | 62 | €864,877 | €860,656 | -€4,221 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,597 | €62,131 | -€7,467 | -10.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€26,059 | - | +€26,059 | |
| Other operating charges | 640/8 | €29,365 | €3,506 | -€25,859 | -88.1% |
| Gross operating margin | 9900 | €1,202,435 | €1,353,170 | +€150,735 | +12.5% |
| Operating profit (loss) | 9901 | €264,653 | €426,877 | +€162,223 | +61.3% |
| Financial income | 75/76B | €936 | €202 | -€734 | -78.4% |
| Recurring financial income | 75 | €936 | €202 | -€734 | -78.4% |
| Financial charges | 65/66B | €1,565 | €887 | -€678 | -43.3% |
| Recurring financial charges | 65 | €1,565 | €887 | -€678 | -43.3% |
| Profit (loss) for the period before taxes | 9903 | €264,024 | €426,192 | +€162,168 | +61.4% |
| Income taxes | 67/77 | €69,628 | €109,851 | +€40,224 | +57.8% |
| Profit (loss) for the period | 9904 | €194,396 | €316,340 | +€121,944 | +62.7% |
| Profit (loss) for the period to be appropriated | 9905 | €194,396 | €316,340 | +€121,944 | +62.7% |
Next steps
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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 8 November 2026 via checked.be.