CVK: 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.
CVK
Largest movements
- Cash +€96,406
up €96,406 (+136.5%), from €70,607 to €167,013
mainly Other debts (+€121,161) and Depreciation (+€76,467)
- Receivables within one year -€65,289
down €65,289 (-80.7%), from €80,949 to €15,660
of which Trade receivables: -€74,688
- Tangible fixed assets -€54,836
down €54,836 (-7.3%), from €746,692 to €691,855
of which Land and buildings: -€34,813
- Other debts +€121,161
up €121,161 (+399.3%), from €30,343 to €151,503
- Trade debts -€55,158
down €55,158 (-80.3%), from €68,702 to €13,544
- Reserves -€46,456
down €46,456 (-20.4%), from €227,555 to €181,099
- Debts after one year -€34,743
down €34,743 (-7.1%), from €492,739 to €457,996
- Gross operating margin +€52,657
up €52,657 (+24.0%), from €219,471 to €272,129
- Staff costs +€17,483
up €17,483 (+38.2%), from €45,803 to €63,285
- Depreciation +€11,137
up €11,137 (+17.0%), from €65,330 to €76,467
- Taxes +€7,321
up €7,321 (+50.9%), from €14,394 to €21,715
- Other operating charges +€3,119
up €3,119 (+30.4%), from €10,256 to €13,375
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 | €899,880 | €877,745 | -€22,135 | -2.5% |
| Fixed assets | 21/28 | €746,913 | €692,076 | -€54,836 | -7.3% |
| Tangible fixed assets | 22/27 | €746,692 | €691,855 | -€54,836 | -7.3% |
| Land and buildings | 22 | €606,191 | €571,378 | -€34,813 | -5.7% |
| Plant, machinery and equipment | 23 | €86,193 | €76,911 | -€9,282 | -10.8% |
| Furniture and vehicles | 24 | €40,843 | €32,721 | -€8,121 | -19.9% |
| Other tangible fixed assets | 26 | €13,465 | €10,845 | -€2,620 | -19.5% |
| Financial fixed assets | 28 | €221 | €221 | = | 0.0% |
| Current assets | 29/58 | €152,967 | €185,668 | +€32,701 | +21.4% |
| Amounts receivable within one year | 40/41 | €80,949 | €15,660 | -€65,289 | -80.7% |
| Trade receivables | 40 | €74,688 | €0 | -€74,688 | -100.0% |
| Other amounts receivable | 41 | €6,261 | €15,660 | +€9,399 | +150.1% |
| Cash at bank and in hand | 54/58 | €70,607 | €167,013 | +€96,406 | +136.5% |
| Deferred charges and accrued income | 490/1 | €1,411 | €2,995 | +€1,584 | +112.3% |
| Total equity and liabilities | 10/49 | €899,880 | €877,745 | -€22,135 | -2.5% |
| Equity | 10/15 | €237,555 | €191,099 | -€46,456 | -19.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €227,555 | €181,099 | -€46,456 | -20.4% |
| Distributable reserves | 133 | €227,555 | €181,099 | -€46,456 | -20.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €662,325 | €686,646 | +€24,321 | +3.7% |
| Amounts payable after more than one year | 17 | €492,739 | €457,996 | -€34,743 | -7.1% |
| Financial debts | 170/4 | €492,739 | €457,996 | -€34,743 | -7.1% |
| Amounts payable within one year | 42/48 | €169,585 | €228,649 | +€59,064 | +34.8% |
| Current portion of amounts payable after more than one year | 42 | €38,234 | €34,743 | -€3,491 | -9.1% |
| Trade debts | 44 | €68,702 | €13,544 | -€55,158 | -80.3% |
| Suppliers | 440/4 | €68,702 | €13,544 | -€55,158 | -80.3% |
| Advances received on contracts in progress | 46 | €31,562 | €28,208 | -€3,354 | -10.6% |
| Taxes, remuneration and social security | 45 | €744 | €651 | -€93 | -12.4% |
| Taxes | 450/3 | €744 | €651 | -€93 | -12.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €30,343 | €151,503 | +€121,161 | +399.3% |
| Non-recurring operating income | 76A | €1,378 | €600 | -€778 | -56.5% |
| Remuneration, social security and pensions | 62 | €45,803 | €63,285 | +€17,483 | +38.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,330 | €76,467 | +€11,137 | +17.0% |
| Other operating charges | 640/8 | €10,256 | €13,375 | +€3,119 | +30.4% |
| Non-recurring operating charges | 66A | €1,933 | €0 | -€1,933 | -100.0% |
| Gross operating margin | 9900 | €219,471 | €272,129 | +€52,657 | +24.0% |
| Operating profit (loss) | 9901 | €96,150 | €119,002 | +€22,852 | +23.8% |
| Financial income | 75/76B | €3 | €564 | +€561 | +16202.6% |
| Recurring financial income | 75 | €3 | €564 | +€561 | +16202.6% |
| Financial charges | 65/66B | €23,339 | €24,308 | +€969 | +4.2% |
| Recurring financial charges | 65 | €23,339 | €24,308 | +€969 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €72,814 | €95,258 | +€22,444 | +30.8% |
| Income taxes | 67/77 | €14,394 | €21,715 | +€7,321 | +50.9% |
| Profit (loss) for the period | 9904 | €58,421 | €73,544 | +€15,123 | +25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €58,421 | €73,544 | +€15,123 | +25.9% |
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 3 October 2026 via checked.be.