CVK Immo: 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 Immo
Largest movements
- Deferred charges and accrued income +€2.6m
up €2.6m (+1140.9%), from €223,771 to €2.8m
- Intangible fixed assets -€2.0m
no longer reported in 2025 (was €2.0m)
- Cash -€911,232
down €911,232 (-98.3%), from €926,829 to €15,596
mainly Deferred charges and accrued income (-€2.6m) and Trade debts (-€2.4m)
- Receivables within one year -€687,087
down €687,087 (-99.3%), from €691,898 to €4,811
of which Trade receivables: -€480,264
- Tangible fixed assets +€174,951
up €174,951 (+9.4%), from €1.9m to €2.0m
of which Land and buildings: +€264,678
- Accrued charges and deferred income +€2.8m
up €2.8m (+14096.3%), from €19,560 to €2.8m
- Trade debts -€2.4m
no longer reported in 2025 (was €2.4m)
- Debts after one year -€1.2m
down €1.2m (-45.4%), from €2.7m to €1.5m
- Current portion of long-term debt -€269,398
down €269,398 (-71.6%), from €376,398 to €107,000
- Other debts +€258,420
new in 2025: €258,420
- Gross operating margin -€770,196
down €770,196 (-52.3%), from €1.5m to €701,978
- Staff costs -€599,696
down €599,696 (-64.2%), from €934,034 to €334,338
- Depreciation -€175,433
down €175,433 (-44.1%), from €397,849 to €222,416
- Financial charges -€32,589
down €32,589 (-28.5%), from €114,273 to €81,684
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 | €5,682,831 | €4,827,581 | -€855,250 | -15.0% |
| Fixed assets | 21/28 | €3,840,334 | €2,030,327 | -€1.8m | -47.1% |
| Intangible fixed assets | 21 | €1,984,957 | - | -€2.0m | |
| Tangible fixed assets | 22/27 | €1,855,377 | €2,030,327 | +€174,951 | +9.4% |
| Land and buildings | 22 | €1,765,649 | €2,030,327 | +€264,678 | +15.0% |
| Plant, machinery and equipment | 23 | €59,843 | - | -€59,843 | |
| Furniture and vehicles | 24 | €29,884 | - | -€29,884 | |
| Current assets | 29/58 | €1,842,497 | €2,797,254 | +€954,756 | +51.8% |
| Amounts receivable within one year | 40/41 | €691,898 | €4,811 | -€687,087 | -99.3% |
| Trade receivables | 40 | €485,074 | €4,811 | -€480,264 | -99.0% |
| Other amounts receivable | 41 | €206,824 | - | -€206,824 | |
| Cash at bank and in hand | 54/58 | €926,829 | €15,596 | -€911,232 | -98.3% |
| Deferred charges and accrued income | 490/1 | €223,771 | €2,776,847 | +€2.6m | +1140.9% |
| Total equity and liabilities | 10/49 | €5,682,831 | €4,827,581 | -€855,250 | -15.0% |
| Equity | 10/15 | €187,955 | €199,148 | +€11,193 | +6.0% |
| Contributions | 10/11 | €74,368 | €65,127 | -€9,241 | -12.4% |
| Capital | 10 | €74,368 | €65,127 | -€9,241 | -12.4% |
| Issued capital | 100 | €74,368 | €65,127 | -€9,241 | -12.4% |
| Reserves | 13 | €19,061 | €11,266 | -€7,796 | -40.9% |
| Non-distributable reserves | 130/1 | €7,437 | €6,513 | -€924 | -12.4% |
| Legal reserve | 130 | €7,437 | €6,513 | -€924 | -12.4% |
| Tax-exempt reserves | 132 | €5,427 | €4,753 | -€674 | -12.4% |
| Distributable reserves | 133 | €6,197 | - | -€6,197 | |
| Profit (loss) carried forward | 14 | €94,525 | €122,755 | +€28,230 | +29.9% |
| Amounts payable | 17/49 | €5,494,876 | €4,628,433 | -€866,443 | -15.8% |
| Amounts payable after more than one year | 17 | €2,711,664 | €1,481,083 | -€1.2m | -45.4% |
| Financial debts | 170/4 | €2,711,664 | €1,481,083 | -€1.2m | -45.4% |
| Amounts payable within one year | 42/48 | €2,763,652 | €370,503 | -€2.4m | -86.6% |
| Current portion of amounts payable after more than one year | 42 | €376,398 | €107,000 | -€269,398 | -71.6% |
| Trade debts | 44 | €2,380,567 | - | -€2.4m | |
| Suppliers | 440/4 | €2,380,567 | - | -€2.4m | |
| Taxes, remuneration and social security | 45 | €6,687 | €5,084 | -€1,603 | -24.0% |
| Taxes | 450/3 | €6,066 | €5,084 | -€982 | -16.2% |
| Remuneration and social security | 454/9 | €621 | - | -€621 | |
| Other amounts payable | 47/48 | - | €258,420 | +€258,420 | |
| Accrued charges and deferred income | 492/3 | €19,560 | €2,776,847 | +€2.8m | +14096.3% |
| Remuneration, social security and pensions | 62 | €934,034 | €334,338 | -€599,696 | -64.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €397,849 | €222,416 | -€175,433 | -44.1% |
| Other operating charges | 640/8 | €11,663 | €1,170 | -€10,493 | -90.0% |
| Non-recurring operating charges | 66A | €7,161 | €22,768 | +€15,608 | +218.0% |
| Gross operating margin | 9900 | €1,472,174 | €701,978 | -€770,196 | -52.3% |
| Operating profit (loss) | 9901 | €121,468 | €121,286 | -€182 | -0.2% |
| Financial income | 75/76B | €2,354 | €31 | -€2,323 | -98.7% |
| Recurring financial income | 75 | €2,354 | €31 | -€2,323 | -98.7% |
| Financial charges | 65/66B | €114,273 | €81,684 | -€32,589 | -28.5% |
| Recurring financial charges | 65 | €114,273 | €81,684 | -€32,589 | -28.5% |
| Profit (loss) for the period before taxes | 9903 | €9,548 | €39,632 | +€30,083 | +315.1% |
| Income taxes | 67/77 | €6,482 | €5,084 | -€1,398 | -21.6% |
| Profit (loss) for the period | 9904 | €3,067 | €34,548 | +€31,482 | +1026.6% |
| Profit (loss) for the period to be appropriated | 9905 | €3,067 | €34,548 | +€31,482 | +1026.6% |
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 9 October 2026 via checked.be.