CVL HR: 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.
CVL HR
Largest movements
- Cash +€54,319
up €54,319 (+107.9%), from €50,322 to €104,641
mainly Other debts (+€185,002) and Net result for the year (+€30,733)
- Current investments -€30,000
down €30,000 (-37.5%), from €79,997 to €49,997
- Tangible fixed assets -€7,505
down €7,505 (-19.2%), from €39,068 to €31,563
- Receivables within one year +€3,823
up €3,823 (+28.7%), from €13,327 to €17,150
- Other debts +€185,002
up €185,002 (+12397.3%), from €1,492 to €186,494
- Profit (loss) carried forward -€154,267
down €154,267 (-99.3%), from €155,406 to €1,140
- Tax, wage and social debts -€7,636
down €7,636 (-38.0%), from €20,097 to €12,461
of which Taxes: -€7,636
- Trade debts -€2,811
down €2,811 (-68.4%), from €4,108 to €1,296
- Gross operating margin +€6,006
up €6,006 (+13.8%), from €43,678 to €49,684
- Depreciation +€4,136
up €4,136 (+86.7%), from €4,772 to €8,908
- Taxes +€1,178
up €1,178 (+14.2%), from €8,291 to €9,469
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 | €184,103 | €204,391 | +€20,287 | +11.0% |
| Fixed assets | 21/28 | €39,068 | €31,563 | -€7,505 | -19.2% |
| Tangible fixed assets | 22/27 | €39,068 | €31,563 | -€7,505 | -19.2% |
| Furniture and vehicles | 24 | €39,068 | €31,563 | -€7,505 | -19.2% |
| Current assets | 29/58 | €145,036 | €172,828 | +€27,792 | +19.2% |
| Amounts receivable within one year | 40/41 | €13,327 | €17,150 | +€3,823 | +28.7% |
| Trade receivables | 40 | €13,327 | €17,150 | +€3,823 | +28.7% |
| Current investments | 50/53 | €79,997 | €49,997 | -€30,000 | -37.5% |
| Cash at bank and in hand | 54/58 | €50,322 | €104,641 | +€54,319 | +107.9% |
| Deferred charges and accrued income | 490/1 | €1,390 | €1,039 | -€350 | -25.2% |
| Total equity and liabilities | 10/49 | €184,103 | €204,391 | +€20,287 | +11.0% |
| Equity | 10/15 | €158,406 | €4,140 | -€154,267 | -97.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €155,406 | €1,140 | -€154,267 | -99.3% |
| Amounts payable | 17/49 | €25,697 | €200,251 | +€174,554 | +679.3% |
| Amounts payable within one year | 42/48 | €25,697 | €200,251 | +€174,554 | +679.3% |
| Trade debts | 44 | €4,108 | €1,296 | -€2,811 | -68.4% |
| Suppliers | 440/4 | €4,108 | €1,296 | -€2,811 | -68.4% |
| Taxes, remuneration and social security | 45 | €20,097 | €12,461 | -€7,636 | -38.0% |
| Taxes | 450/3 | €20,097 | €12,461 | -€7,636 | -38.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,492 | €186,494 | +€185,002 | +12397.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,772 | €8,908 | +€4,136 | +86.7% |
| Other operating charges | 640/8 | €1,818 | €1,548 | -€271 | -14.9% |
| Gross operating margin | 9900 | €43,678 | €49,684 | +€6,006 | +13.8% |
| Operating profit (loss) | 9901 | €37,089 | €39,229 | +€2,141 | +5.8% |
| Financial income | 75/76B | €1,006 | €1,039 | +€33 | +3.3% |
| Recurring financial income | 75 | €1,006 | €1,039 | +€33 | +3.3% |
| Financial charges | 65/66B | €418 | €66 | -€352 | -84.2% |
| Recurring financial charges | 65 | €418 | €66 | -€352 | -84.2% |
| Profit (loss) for the period before taxes | 9903 | €37,677 | €40,203 | +€2,526 | +6.7% |
| Income taxes | 67/77 | €8,291 | €9,469 | +€1,178 | +14.2% |
| Profit (loss) for the period | 9904 | €29,385 | €30,733 | +€1,348 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €29,385 | €30,733 | +€1,348 | +4.6% |
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 12 October 2026 via checked.be.