CVK: 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.
CVK
Largest movements
- Stocks and contracts -€58,627
down €58,627 (-62.9%), from €93,215 to €34,588
- Receivables within one year +€31,135
up €31,135 (+66.4%), from €46,887 to €78,022
of which Trade receivables: +€34,659
- Cash -€12,161
down €12,161 (-39.3%), from €30,923 to €18,762
mainly Trade debts (-€48,126) and Receivables within one year (-€31,135)
- Tangible fixed assets -€2,435
down €2,435 (-37.5%), from €6,493 to €4,058
- Trade debts -€48,126
down €48,126 (-53.9%), from €89,235 to €41,109
- Tax, wage and social debts +€5,530
up €5,530 (+22.1%), from €25,032 to €30,562
of which Taxes: +€12,237
- Other debts -€4,289
down €4,289 (-98.6%), from €4,350 to €61
- Debts after one year +€3,102
up €3,102 (+354%), from €876 to €3,979
- Staff costs +€117,227
up €117,227 (+171%), from €68,707 to €185,934
- Gross operating margin +€109,449
up €109,449 (+127%), from €86,095 to €195,544
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 | €177,518 | €135,431 | -€42,087 | -23.7% |
| Fixed assets | 21/28 | €6,493 | €4,058 | -€2,435 | -37.5% |
| Tangible fixed assets | 22/27 | €6,493 | €4,058 | -€2,435 | -37.5% |
| Furniture and vehicles | 24 | €6,493 | €4,058 | -€2,435 | -37.5% |
| Current assets | 29/58 | €171,024 | €131,372 | -€39,652 | -23.2% |
| Stocks and contracts in progress | 3 | €93,215 | €34,588 | -€58,627 | -62.9% |
| Stocks | 30/36 | €93,215 | €34,588 | -€58,627 | -62.9% |
| Amounts receivable within one year | 40/41 | €46,887 | €78,022 | +€31,135 | +66.4% |
| Trade receivables | 40 | €16,123 | €50,782 | +€34,659 | +215% |
| Other amounts receivable | 41 | €30,764 | €27,240 | -€3,524 | -11.5% |
| Cash at bank and in hand | 54/58 | €30,923 | €18,762 | -€12,161 | -39.3% |
| Total equity and liabilities | 10/49 | €177,518 | €135,431 | -€42,087 | -23.7% |
| Equity | 10/15 | €52,831 | €54,422 | +€1,591 | +3.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,831 | €34,422 | +€1,591 | +4.8% |
| Amounts payable | 17/49 | €124,687 | €81,009 | -€43,678 | -35.0% |
| Amounts payable after more than one year | 17 | €876 | €3,979 | +€3,102 | +354% |
| Financial debts | 170/4 | €876 | €3,979 | +€3,102 | +354% |
| Amounts payable within one year | 42/48 | €123,811 | €77,030 | -€46,781 | -37.8% |
| Current portion of amounts payable after more than one year | 42 | €5,194 | €5,298 | +€104 | +2.0% |
| Trade debts | 44 | €89,235 | €41,109 | -€48,126 | -53.9% |
| Suppliers | 440/4 | €89,235 | €41,109 | -€48,126 | -53.9% |
| Taxes, remuneration and social security | 45 | €25,032 | €30,562 | +€5,530 | +22.1% |
| Taxes | 450/3 | €8,820 | €21,057 | +€12,237 | +139% |
| Remuneration and social security | 454/9 | €16,212 | €9,505 | -€6,707 | -41.4% |
| Other amounts payable | 47/48 | €4,350 | €61 | -€4,289 | -98.6% |
| Remuneration, social security and pensions | 62 | €68,707 | €185,934 | +€117,227 | +171% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,278 | €2,435 | -€1,843 | -43.1% |
| Other operating charges | 640/8 | €350 | €1,144 | +€794 | +227% |
| Gross operating margin | 9900 | €86,095 | €195,544 | +€109,449 | +127% |
| Operating profit (loss) | 9901 | €12,760 | €6,032 | -€6,728 | -52.7% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €2,606 | €1,416 | -€1,190 | -45.7% |
| Recurring financial charges | 65 | €2,606 | €1,416 | -€1,190 | -45.7% |
| Profit (loss) for the period before taxes | 9903 | €10,155 | €4,616 | -€5,539 | -54.5% |
| Income taxes | 67/77 | €3,009 | €3,025 | +€16 | +0.5% |
| Profit (loss) for the period | 9904 | €7,146 | €1,591 | -€5,555 | -77.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,146 | €1,591 | -€5,555 | -77.7% |
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 14 October 2026 via checked.be.