CVM: 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.
CVM
Largest movements
- Receivables after one year -€13,500
no longer reported in 2025 (was €13,500)
- Deferred charges and accrued income +€13,475
up €13,475 (+505.1%), from €2,668 to €16,143
- Tangible fixed assets -€12,928
down €12,928 (-36.0%), from €35,932 to €23,004
- Receivables within one year -€4,272
down €4,272 (-96.4%), from €4,429 to €157
of which Other amounts receivable: -€4,429
- Cash +€1,520
up €1,520 (+9.4%), from €16,204 to €17,723
mainly Receivables after one year (+€13,500) and Depreciation (+€12,928)
- Debts after one year -€7,694
down €7,694 (-55.6%), from €13,828 to €6,134
- Profit (loss) carried forward -€7,554
down €7,554, from €6,964 to -€590
- Tax, wage and social debts -€7,044
down €7,044 (-49.2%), from €14,321 to €7,278
- Accrued charges and deferred income +€7,000
up €7,000 (+89.7%), from €7,800 to €14,800
- Reserves -€1,860
no longer reported in 2025 (was €1,860)
- Gross operating margin +€14,251
up €14,251 (+155.9%), from €9,142 to €23,393
- Taxes +€2,727
up €2,727 (+766.1%), from €356 to €3,083
- Financial income +€1,323
new in 2025: €1,323
- Other operating charges -€429
down €429 (-28.0%), from €1,530 to €1,101
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 | €72,733 | €57,028 | -€15,705 | -21.6% |
| Fixed assets | 21/28 | €35,932 | €23,004 | -€12,928 | -36.0% |
| Tangible fixed assets | 22/27 | €35,932 | €23,004 | -€12,928 | -36.0% |
| Furniture and vehicles | 24 | €35,932 | €23,004 | -€12,928 | -36.0% |
| Current assets | 29/58 | €36,801 | €34,024 | -€2,777 | -7.5% |
| Amounts receivable after more than one year | 29 | €13,500 | - | -€13,500 | |
| Other amounts receivable | 291 | €13,500 | - | -€13,500 | |
| Amounts receivable within one year | 40/41 | €4,429 | €157 | -€4,272 | -96.4% |
| Trade receivables | 40 | - | €157 | +€157 | |
| Other amounts receivable | 41 | €4,429 | - | -€4,429 | |
| Cash at bank and in hand | 54/58 | €16,204 | €17,723 | +€1,520 | +9.4% |
| Deferred charges and accrued income | 490/1 | €2,668 | €16,143 | +€13,475 | +505.1% |
| Total equity and liabilities | 10/49 | €72,733 | €57,028 | -€15,705 | -21.6% |
| Equity | 10/15 | €27,424 | €18,010 | -€9,414 | -34.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €1,860 | - | -€1,860 | |
| Profit (loss) carried forward | 14 | €6,964 | -€590 | -€7,554 | |
| Amounts payable | 17/49 | €45,309 | €39,018 | -€6,291 | -13.9% |
| Amounts payable after more than one year | 17 | €13,828 | €6,134 | -€7,694 | -55.6% |
| Financial debts | 170/4 | €13,828 | €6,134 | -€7,694 | -55.6% |
| Amounts payable within one year | 42/48 | €23,681 | €18,084 | -€5,597 | -23.6% |
| Current portion of amounts payable after more than one year | 42 | €7,465 | €7,694 | +€229 | +3.1% |
| Trade debts | 44 | - | €981 | +€981 | |
| Suppliers | 440/4 | - | €981 | +€981 | |
| Taxes, remuneration and social security | 45 | €14,321 | €7,278 | -€7,044 | -49.2% |
| Taxes | 450/3 | €14,321 | €7,278 | -€7,044 | -49.2% |
| Other amounts payable | 47/48 | €1,894 | €2,131 | +€237 | +12.5% |
| Accrued charges and deferred income | 492/3 | €7,800 | €14,800 | +€7,000 | +89.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,928 | €12,928 | -€0 | 0.0% |
| Other operating charges | 640/8 | €1,530 | €1,101 | -€429 | -28.0% |
| Gross operating margin | 9900 | €9,142 | €23,393 | +€14,251 | +155.9% |
| Operating profit (loss) | 9901 | -€5,316 | €9,365 | +€14,680 | |
| Financial income | 75/76B | - | €1,323 | +€1,323 | |
| Recurring financial income | 75 | - | €1,323 | +€1,323 | |
| Financial charges | 65/66B | €783 | €635 | -€148 | -18.9% |
| Recurring financial charges | 65 | €783 | €635 | -€148 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | -€6,099 | €10,053 | +€16,151 | |
| Income taxes | 67/77 | €356 | €3,083 | +€2,727 | +766.1% |
| Profit (loss) for the period | 9904 | -€6,455 | €6,969 | +€13,424 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,455 | €6,969 | +€13,424 |
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 7 October 2026 via checked.be.