CVHD: 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.
CVHD
Largest movements
- Cash +€226,234
up €226,234 (+343.3%), from €65,899 to €292,134
mainly Current investments (+€160,000) and Net result for the year (+€46,436)
- Current investments -€160,000
down €160,000 (-100.0%), from €160,000 to €0
- Tangible fixed assets -€3,532
down €3,532 (-35.6%), from €9,921 to €6,389
- Reserves +€46,436
up €46,436 (+20.6%), from €225,946 to €272,382
- Other debts +€15,817
up €15,817 (+451.5%), from €3,503 to €19,320
- Gross operating margin -€49,927
down €49,927 (-44.1%), from €113,299 to €63,372
- Taxes -€12,887
down €12,887 (-41.9%), from €30,733 to €17,846
- Financial income +€4,960
up €4,960 (+9919920.0%), from €0 to €4,960
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 | €237,387 | €301,231 | +€63,844 | +26.9% |
| Fixed assets | 21/28 | €9,921 | €6,389 | -€3,532 | -35.6% |
| Tangible fixed assets | 22/27 | €9,921 | €6,389 | -€3,532 | -35.6% |
| Furniture and vehicles | 24 | €9,921 | €6,389 | -€3,532 | -35.6% |
| Current assets | 29/58 | €227,466 | €294,842 | +€67,376 | +29.6% |
| Amounts receivable within one year | 40/41 | €1,267 | €2,409 | +€1,142 | +90.1% |
| Other amounts receivable | 41 | €1,267 | €2,409 | +€1,142 | +90.1% |
| Current investments | 50/53 | €160,000 | €0 | -€160,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €65,899 | €292,134 | +€226,234 | +343.3% |
| Deferred charges and accrued income | 490/1 | €299 | €299 | = | 0.0% |
| Total equity and liabilities | 10/49 | €237,387 | €301,231 | +€63,844 | +26.9% |
| Equity | 10/15 | €228,946 | €275,382 | +€46,436 | +20.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €225,946 | €272,382 | +€46,436 | +20.6% |
| Distributable reserves | 133 | €225,946 | €272,382 | +€46,436 | +20.6% |
| Amounts payable | 17/49 | €8,441 | €25,849 | +€17,408 | +206.2% |
| Amounts payable within one year | 42/48 | €6,516 | €24,430 | +€17,914 | +274.9% |
| Trade debts | 44 | €102 | €0 | -€102 | -100.0% |
| Suppliers | 440/4 | €102 | €0 | -€102 | -100.0% |
| Taxes, remuneration and social security | 45 | €2,911 | €5,110 | +€2,199 | +75.5% |
| Taxes | 450/3 | €2,911 | €5,110 | +€2,199 | +75.5% |
| Other amounts payable | 47/48 | €3,503 | €19,320 | +€15,817 | +451.5% |
| Accrued charges and deferred income | 492/3 | €1,925 | €1,419 | -€506 | -26.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,641 | €3,532 | +€892 | +33.8% |
| Other operating charges | 640/8 | €899 | €462 | -€438 | -48.7% |
| Gross operating margin | 9900 | €113,299 | €63,372 | -€49,927 | -44.1% |
| Operating profit (loss) | 9901 | €109,759 | €59,378 | -€50,382 | -45.9% |
| Financial income | 75/76B | €0 | €4,960 | +€4,960 | +9919920.0% |
| Recurring financial income | 75 | €0 | €4,960 | +€4,960 | +9919920.0% |
| Financial charges | 65/66B | €46 | €56 | +€9 | +20.1% |
| Recurring financial charges | 65 | €46 | €56 | +€9 | +20.1% |
| Profit (loss) for the period before taxes | 9903 | €109,713 | €64,282 | -€45,431 | -41.4% |
| Income taxes | 67/77 | €30,733 | €17,846 | -€12,887 | -41.9% |
| Profit (loss) for the period | 9904 | €78,980 | €46,436 | -€32,544 | -41.2% |
| Profit (loss) for the period to be appropriated | 9905 | €78,980 | €46,436 | -€32,544 | -41.2% |
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 2 October 2026 via checked.be.