CVL-ORL: 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-ORL
Largest movements
- Current investments +€110,000
up €110,000 (+157%), from €70,000 to €180,000
- Receivables within one year -€35,975
down €35,975 (-90.5%), from €39,768 to €3,793
- Cash +€19,556
up €19,556 (+99.4%), from €19,679 to €39,235
mainly Net result for the year (+€75,665) and Receivables within one year (+€35,975)
- Reserves +€75,665
up €75,665 (+76.9%), from €98,360 to €174,025
- Tax, wage and social debts +€11,005
up €11,005 (+88.6%), from €12,415 to €23,421
- Other debts +€5,324
up €5,324 (+36.6%), from €14,528 to €19,853
- Taxes +€28,781
up €28,781 (+293%), from €9,836 to €38,617
- Gross operating margin +€5,276
up €5,276 (+4.9%), from €107,632 to €112,908
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 | €130,026 | €223,408 | +€93,381 | +71.8% |
| Fixed assets | 21/28 | €580 | €380 | -€200 | -34.5% |
| Tangible fixed assets | 22/27 | €580 | €380 | -€200 | -34.5% |
| Plant, machinery and equipment | 23 | €580 | €380 | -€200 | -34.5% |
| Current assets | 29/58 | €129,447 | €223,028 | +€93,581 | +72.3% |
| Amounts receivable within one year | 40/41 | €39,768 | €3,793 | -€35,975 | -90.5% |
| Trade receivables | 40 | €39,768 | €3,793 | -€35,975 | -90.5% |
| Current investments | 50/53 | €70,000 | €180,000 | +€110,000 | +157% |
| Cash at bank and in hand | 54/58 | €19,679 | €39,235 | +€19,556 | +99.4% |
| Total equity and liabilities | 10/49 | €130,026 | €223,408 | +€93,381 | +71.8% |
| Equity | 10/15 | €101,060 | €176,725 | +€75,665 | +74.9% |
| Contributions | 10/11 | €2,700 | €2,700 | = | 0.0% |
| Reserves | 13 | €98,360 | €174,025 | +€75,665 | +76.9% |
| Distributable reserves | 133 | €98,360 | €174,025 | +€75,665 | +76.9% |
| Amounts payable | 17/49 | €28,966 | €46,682 | +€17,716 | +61.2% |
| Amounts payable within one year | 42/48 | €28,966 | €46,177 | +€17,211 | +59.4% |
| Trade debts | 44 | €2,023 | €2,904 | +€881 | +43.6% |
| Suppliers | 440/4 | €2,023 | €2,904 | +€881 | +43.6% |
| Taxes, remuneration and social security | 45 | €12,415 | €23,421 | +€11,005 | +88.6% |
| Taxes | 450/3 | €12,415 | €23,421 | +€11,005 | +88.6% |
| Other amounts payable | 47/48 | €14,528 | €19,853 | +€5,324 | +36.6% |
| Accrued charges and deferred income | 492/3 | - | €505 | +€505 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20 | €200 | +€180 | +889% |
| Other operating charges | 640/8 | - | €62 | +€62 | |
| Gross operating margin | 9900 | €107,632 | €112,908 | +€5,276 | +4.9% |
| Operating profit (loss) | 9901 | €107,612 | €112,646 | +€5,034 | +4.7% |
| Financial income | 75/76B | €648 | €1,697 | +€1,049 | +162% |
| Recurring financial income | 75 | €648 | €1,697 | +€1,049 | +162% |
| Financial charges | 65/66B | €63 | €60 | -€3 | -4.6% |
| Recurring financial charges | 65 | €63 | €60 | -€3 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €108,196 | €114,283 | +€6,086 | +5.6% |
| Income taxes | 67/77 | €9,836 | €38,617 | +€28,781 | +293% |
| Profit (loss) for the period | 9904 | €98,360 | €75,665 | -€22,695 | -23.1% |
| Profit (loss) for the period to be appropriated | 9905 | €98,360 | €75,665 | -€22,695 | -23.1% |
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 24 October 2026 via checked.be.