CVG: what changed
Two financial 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.
CVG
Largest movements
- Cash +€35,058
up €35,058 (+7.3%), from €481,991 to €517,049
mainly Net result for the year (+€47,126) and Receivables within one year (+€3,616)
- Reserves +€47,126
up €47,126 (+8.4%), from €560,711 to €607,837
- Other debts -€12,030
down €12,030 (-6.2%), from €195,027 to €182,997
- Gross operating margin +€14,886
up €14,886 (+33.7%), from €44,125 to €59,011
- Financial income +€12,468
up €12,468 (+82.2%), from €15,173 to €27,641
- Taxes +€7,250
up €7,250 (+67.4%), from €10,754 to €18,005
- Depreciation +€1,494
up €1,494 (+75.7%), from €1,974 to €3,467
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.
Derived cash bridge
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 | €948,131 | €980,508 | +€32,377 | +3.4% |
| Fixed assets | 21/28 | €11,003 | €10,181 | -€822 | -7.5% |
| Tangible fixed assets | 22/27 | €11,003 | €10,181 | -€822 | -7.5% |
| Furniture and vehicles | 24 | €11,003 | €10,181 | -€822 | -7.5% |
| Current assets | 29/58 | €937,127 | €970,326 | +€33,199 | +3.5% |
| Amounts receivable within one year | 40/41 | €27,235 | €23,619 | -€3,616 | -13.3% |
| Trade receivables | 40 | €4,078 | €3,774 | -€304 | -7.4% |
| Other amounts receivable | 41 | €23,157 | €19,845 | -€3,312 | -14.3% |
| Current investments | 50/53 | €418,389 | €422,534 | +€4,145 | +1.0% |
| Cash at bank and in hand | 54/58 | €481,991 | €517,049 | +€35,058 | +7.3% |
| Deferred charges and accrued income | 490/1 | €9,511 | €7,124 | -€2,388 | -25.1% |
| Total equity and liabilities | 10/49 | €948,131 | €980,508 | +€32,377 | +3.4% |
| Equity | 10/15 | €718,811 | €765,937 | +€47,126 | +6.6% |
| Contributions | 10/11 | €158,100 | €158,100 | = | 0.0% |
| Reserves | 13 | €560,711 | €607,837 | +€47,126 | +8.4% |
| Distributable reserves | 133 | €560,711 | €607,837 | +€47,126 | +8.4% |
| Provisions and deferred taxes | 16 | €1,500 | €1,500 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €1,500 | €1,500 | = | 0.0% |
| Major repairs and maintenance | 162 | €1,500 | €1,500 | = | 0.0% |
| Amounts payable | 17/49 | €227,820 | €213,071 | -€14,749 | -6.5% |
| Amounts payable within one year | 42/48 | €215,916 | €202,982 | -€12,934 | -6.0% |
| Trade debts | 44 | €3,111 | €2,310 | -€801 | -25.7% |
| Suppliers | 440/4 | €3,111 | €2,310 | -€801 | -25.7% |
| Taxes, remuneration and social security | 45 | €17,778 | €17,675 | -€103 | -0.6% |
| Taxes | 450/3 | €17,778 | €17,675 | -€103 | -0.6% |
| Other amounts payable | 47/48 | €195,027 | €182,997 | -€12,030 | -6.2% |
| Accrued charges and deferred income | 492/3 | €11,904 | €10,089 | -€1,815 | -15.2% |
| Remuneration, social security and pensions | 62 | - | €399 | +€399 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,974 | €3,467 | +€1,494 | +75.7% |
| Other operating charges | 640/8 | €1,362 | €1,137 | -€225 | -16.5% |
| Gross operating margin | 9900 | €44,125 | €59,011 | +€14,886 | +33.7% |
| Operating profit (loss) | 9901 | €40,789 | €54,008 | +€13,219 | +32.4% |
| Financial income | 75/76B | €15,173 | €27,641 | +€12,468 | +82.2% |
| Recurring financial income | 75 | €15,173 | €27,641 | +€12,468 | +82.2% |
| Financial charges | 65/66B | €17,063 | €16,518 | -€545 | -3.2% |
| Recurring financial charges | 65 | €17,063 | €16,518 | -€545 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €38,899 | €65,131 | +€26,232 | +67.4% |
| Income taxes | 67/77 | €10,754 | €18,005 | +€7,250 | +67.4% |
| Profit (loss) for the period | 9904 | €28,145 | €47,126 | +€18,982 | +67.4% |
| Profit (loss) for the period to be appropriated | 9905 | €28,145 | €47,126 | +€18,982 | +67.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.