CVIAS: 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.
CVIAS
Largest movements
- Tangible fixed assets +€208,078
up €208,078 (+70.0%), from €297,074 to €505,152
of which Land and buildings: +€212,168
- Cash -€98,560
down €98,560 (-74.1%), from €133,055 to €34,495
mainly Investment in fixed assets (net) (-€241,414) and Trade debts (-€2,521)
- Receivables within one year -€7,659
down €7,659 (-19.3%), from €39,726 to €32,066
of which Trade receivables: -€14,932
- Debts after one year +€73,648
up €73,648 (+72.1%), from €102,091 to €175,739
of which Financial debts: +€73,648
- Reserves +€15,477
up €15,477 (+5.2%), from €299,191 to €314,668
- Current portion of long-term debt +€9,161
up €9,161 (+32.1%), from €28,533 to €37,694
- Other operating charges +€32,798
up €32,798 (+944.4%), from €3,473 to €36,271
- Gross operating margin +€22,001
up €22,001 (+30.0%), from €73,435 to €95,436
- Taxes -€2,931
down €2,931 (-27.3%), from €10,730 to €7,798
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 | €485,385 | €583,958 | +€98,573 | +20.3% |
| Fixed assets | 21/28 | €297,074 | €505,152 | +€208,078 | +70.0% |
| Tangible fixed assets | 22/27 | €297,074 | €505,152 | +€208,078 | +70.0% |
| Land and buildings | 22 | €282,518 | €494,686 | +€212,168 | +75.1% |
| Plant, machinery and equipment | 23 | €2,489 | €1,676 | -€813 | -32.7% |
| Furniture and vehicles | 24 | €5,932 | €4,002 | -€1,930 | -32.5% |
| Other tangible fixed assets | 26 | €6,134 | €4,788 | -€1,346 | -21.9% |
| Current assets | 29/58 | €188,311 | €78,807 | -€109,505 | -58.2% |
| Amounts receivable within one year | 40/41 | €39,726 | €32,066 | -€7,659 | -19.3% |
| Trade receivables | 40 | €37,811 | €22,879 | -€14,932 | -39.5% |
| Other amounts receivable | 41 | €1,914 | €9,187 | +€7,273 | +379.9% |
| Cash at bank and in hand | 54/58 | €133,055 | €34,495 | -€98,560 | -74.1% |
| Deferred charges and accrued income | 490/1 | €15,530 | €12,245 | -€3,285 | -21.2% |
| Total equity and liabilities | 10/49 | €485,385 | €583,958 | +€98,573 | +20.3% |
| Equity | 10/15 | €311,591 | €327,068 | +€15,477 | +5.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €299,191 | €314,668 | +€15,477 | +5.2% |
| Distributable reserves | 133 | €299,191 | €314,668 | +€15,477 | +5.2% |
| Amounts payable | 17/49 | €173,793 | €256,890 | +€83,097 | +47.8% |
| Amounts payable after more than one year | 17 | €102,091 | €175,739 | +€73,648 | +72.1% |
| Financial debts | 170/4 | €99,141 | €172,789 | +€73,648 | +74.3% |
| Other amounts payable | 178/9 | €2,950 | €2,950 | = | 0.0% |
| Amounts payable within one year | 42/48 | €71,703 | €81,151 | +€9,448 | +13.2% |
| Current portion of amounts payable after more than one year | 42 | €28,533 | €37,694 | +€9,161 | +32.1% |
| Trade debts | 44 | €2,876 | €356 | -€2,521 | -87.6% |
| Suppliers | 440/4 | €2,876 | €356 | -€2,521 | -87.6% |
| Taxes, remuneration and social security | 45 | €6,651 | €4,502 | -€2,149 | -32.3% |
| Taxes | 450/3 | €6,651 | €4,502 | -€2,149 | -32.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €33,643 | €38,599 | +€4,957 | +14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,595 | €33,336 | -€258 | -0.8% |
| Other operating charges | 640/8 | €3,473 | €36,271 | +€32,798 | +944.4% |
| Gross operating margin | 9900 | €73,435 | €95,436 | +€22,001 | +30.0% |
| Operating profit (loss) | 9901 | €36,368 | €25,829 | -€10,539 | -29.0% |
| Financial income | 75/76B | €1 | €0 | -€1 | -75.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -75.0% |
| Financial charges | 65/66B | €2,516 | €2,554 | +€38 | +1.5% |
| Recurring financial charges | 65 | €2,516 | €2,554 | +€38 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | €33,853 | €23,275 | -€10,577 | -31.2% |
| Income taxes | 67/77 | €10,730 | €7,798 | -€2,931 | -27.3% |
| Profit (loss) for the period | 9904 | €23,123 | €15,477 | -€7,646 | -33.1% |
| Profit (loss) for the period to be appropriated | 9905 | €23,123 | €15,477 | -€7,646 | -33.1% |
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.