CVK PROJECTS: 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 PROJECTS
Largest movements
- Tangible fixed assets -€7,666
down €7,666 (-32.4%), from €23,625 to €15,959
of which Other tangible fixed assets: -€4,844
- Deferred charges and accrued income -€3,662
down €3,662 (-36.7%), from €9,966 to €6,305
- Cash +€2,372
up €2,372 (+24.7%), from €9,596 to €11,969
mainly Depreciation (+€7,666) and Net result for the year (+€6,741)
- Receivables within one year +€1,786
up €1,786 (+271.9%), from €657 to €2,443
of which Trade receivables: +€2,071
- Stocks and contracts +€1,585
up €1,585 (+41.1%), from €3,854 to €5,440
- Other debts -€13,598
down €13,598 (-56.9%), from €23,882 to €10,284
- Profit (loss) carried forward +€6,741
up €6,741 (+7.5%), from -€89,662 to -€82,921
- Accrued charges and deferred income -€2,500
no longer reported in 2025 (was €2,500)
- Trade debts +€2,302
up €2,302 (+24.3%), from €9,457 to €11,759
- Tax, wage and social debts +€1,470
up €1,470 (+56.6%), from €2,595 to €4,066
of which Taxes: +€1,919
- Gross operating margin +€31,514
up €31,514 (+180.6%), from €17,445 to €48,959
- Staff costs +€1,903
up €1,903 (+6.2%), from €30,495 to €32,399
- Financial income -€1,211
down €1,211 (-99.1%), from €1,221 to €11
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 | €47,699 | €42,114 | -€5,585 | -11.7% |
| Fixed assets | 21/28 | €23,625 | €15,959 | -€7,666 | -32.4% |
| Tangible fixed assets | 22/27 | €23,625 | €15,959 | -€7,666 | -32.4% |
| Plant, machinery and equipment | 23 | €6,893 | €4,628 | -€2,266 | -32.9% |
| Furniture and vehicles | 24 | €852 | €296 | -€557 | -65.3% |
| Other tangible fixed assets | 26 | €15,879 | €11,035 | -€4,844 | -30.5% |
| Current assets | 29/58 | €24,074 | €26,156 | +€2,081 | +8.6% |
| Stocks and contracts in progress | 3 | €3,854 | €5,440 | +€1,585 | +41.1% |
| Stocks | 30/36 | €3,854 | €5,440 | +€1,585 | +41.1% |
| Amounts receivable within one year | 40/41 | €657 | €2,443 | +€1,786 | +271.9% |
| Trade receivables | 40 | €372 | €2,443 | +€2,071 | +556.8% |
| Other amounts receivable | 41 | €285 | - | -€285 | |
| Cash at bank and in hand | 54/58 | €9,596 | €11,969 | +€2,372 | +24.7% |
| Deferred charges and accrued income | 490/1 | €9,966 | €6,305 | -€3,662 | -36.7% |
| Total equity and liabilities | 10/49 | €47,699 | €42,114 | -€5,585 | -11.7% |
| Equity | 10/15 | -€71,062 | -€64,321 | +€6,741 | +9.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€89,662 | -€82,921 | +€6,741 | +7.5% |
| Amounts payable | 17/49 | €118,761 | €106,435 | -€12,325 | -10.4% |
| Amounts payable after more than one year | 17 | €80,000 | €80,000 | = | 0.0% |
| Financial debts | 170/4 | €80,000 | €80,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €36,261 | €26,435 | -€9,825 | -27.1% |
| Financial debts | 43 | €326 | €326 | = | 0.0% |
| Credit institutions | 430/8 | €326 | €326 | = | 0.0% |
| Trade debts | 44 | €9,457 | €11,759 | +€2,302 | +24.3% |
| Suppliers | 440/4 | €9,457 | €11,759 | +€2,302 | +24.3% |
| Taxes, remuneration and social security | 45 | €2,595 | €4,066 | +€1,470 | +56.6% |
| Taxes | 450/3 | €121 | €2,040 | +€1,919 | +1584.4% |
| Remuneration and social security | 454/9 | €2,474 | €2,025 | -€449 | -18.1% |
| Other amounts payable | 47/48 | €23,882 | €10,284 | -€13,598 | -56.9% |
| Accrued charges and deferred income | 492/3 | €2,500 | - | -€2,500 | |
| Remuneration, social security and pensions | 62 | €30,495 | €32,399 | +€1,903 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,666 | €7,666 | = | 0.0% |
| Other operating charges | 640/8 | €1,004 | €1,085 | +€81 | +8.1% |
| Gross operating margin | 9900 | €17,445 | €48,959 | +€31,514 | +180.6% |
| Operating profit (loss) | 9901 | -€21,720 | €7,809 | +€29,529 | |
| Financial income | 75/76B | €1,221 | €11 | -€1,211 | -99.1% |
| Recurring financial income | 75 | €1,221 | €11 | -€1,211 | -99.1% |
| Financial charges | 65/66B | €717 | €758 | +€41 | +5.7% |
| Recurring financial charges | 65 | €717 | €758 | +€41 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | -€21,216 | €7,062 | +€28,278 | |
| Income taxes | 67/77 | €59 | €321 | +€262 | +441.6% |
| Profit (loss) for the period | 9904 | -€21,275 | €6,741 | +€28,016 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,275 | €6,741 | +€28,016 |
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.