CVM CONSULT: 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.
CVM CONSULT
Largest movements
- Tangible fixed assets -€5,996
down €5,996 (-67.8%), from €8,845 to €2,850
of which Land and buildings: -€8,765
- Receivables within one year +€4,803
up €4,803 (+61.6%), from €7,800 to €12,603
of which Trade receivables: +€4,581
- Stocks and contracts -€2,542
down €2,542 (-35.7%), from €7,123 to €4,581
- Cash -€383
down €383 (-8.2%), from €4,675 to €4,291
mainly Current portion of long-term debt (-€18,034) and Receivables within one year (-€4,803)
- Current portion of long-term debt -€18,034
no longer reported in 2025 (was €18,034)
- Other debts +€11,583
up €11,583 (+47.2%), from €24,545 to €36,128
- Trade debts +€4,558
up €4,558 (+74.1%), from €6,151 to €10,709
- Profit (loss) carried forward -€2,820
down €2,820 (-6.3%), from -€44,567 to -€47,387
- Tax, wage and social debts +€369
new in 2025: €369
- Gross operating margin +€12,396
up €12,396, from -€1,456 to €10,941
- Depreciation -€5,433
down €5,433 (-36.0%), from €15,109 to €9,676
- Other operating charges +€1,118
up €1,118 (+54.2%), from €2,064 to €3,183
- Financial charges -€1,055
down €1,055 (-66.4%), from €1,587 to €532
- Taxes +€385
up €385, from -€16 to €369
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 | €29,318 | €25,101 | -€4,217 | -14.4% |
| Fixed assets | 21/28 | €9,721 | €3,475 | -€6,245 | -64.2% |
| Intangible fixed assets | 21 | €850 | €626 | -€224 | -26.4% |
| Tangible fixed assets | 22/27 | €8,845 | €2,850 | -€5,996 | -67.8% |
| Land and buildings | 22 | €8,845 | €81 | -€8,765 | -99.1% |
| Furniture and vehicles | 24 | - | €2,769 | +€2,769 | |
| Financial fixed assets | 28 | €25 | - | -€25 | |
| Current assets | 29/58 | €19,597 | €21,625 | +€2,028 | +10.3% |
| Stocks and contracts in progress | 3 | €7,123 | €4,581 | -€2,542 | -35.7% |
| Stocks | 30/36 | €7,123 | €4,581 | -€2,542 | -35.7% |
| Amounts receivable within one year | 40/41 | €7,800 | €12,603 | +€4,803 | +61.6% |
| Trade receivables | 40 | €5,704 | €10,285 | +€4,581 | +80.3% |
| Other amounts receivable | 41 | €2,096 | €2,318 | +€222 | +10.6% |
| Cash at bank and in hand | 54/58 | €4,675 | €4,291 | -€383 | -8.2% |
| Deferred charges and accrued income | 490/1 | - | €150 | +€150 | |
| Total equity and liabilities | 10/49 | €29,318 | €25,101 | -€4,217 | -14.4% |
| Equity | 10/15 | -€19,412 | -€22,232 | -€2,820 | -14.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6,555 | €6,555 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,695 | €4,695 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,567 | -€47,387 | -€2,820 | -6.3% |
| Amounts payable | 17/49 | €48,729 | €47,333 | -€1,397 | -2.9% |
| Amounts payable within one year | 42/48 | €48,729 | €47,333 | -€1,397 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €18,034 | - | -€18,034 | |
| Financial debts | 43 | - | €127 | +€127 | |
| Credit institutions | 430/8 | - | €127 | +€127 | |
| Trade debts | 44 | €6,151 | €10,709 | +€4,558 | +74.1% |
| Suppliers | 440/4 | €6,151 | €10,709 | +€4,558 | +74.1% |
| Taxes, remuneration and social security | 45 | - | €369 | +€369 | |
| Taxes | 450/3 | - | €369 | +€369 | |
| Other amounts payable | 47/48 | €24,545 | €36,128 | +€11,583 | +47.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,109 | €9,676 | -€5,433 | -36.0% |
| Other operating charges | 640/8 | €2,064 | €3,183 | +€1,118 | +54.2% |
| Gross operating margin | 9900 | -€1,456 | €10,941 | +€12,396 | |
| Operating profit (loss) | 9901 | -€18,629 | -€1,919 | +€16,710 | +89.7% |
| Financial charges | 65/66B | €1,587 | €532 | -€1,055 | -66.4% |
| Recurring financial charges | 65 | €1,587 | €532 | -€1,055 | -66.4% |
| Profit (loss) for the period before taxes | 9903 | -€20,216 | -€2,451 | +€17,765 | +87.9% |
| Income taxes | 67/77 | -€16 | €369 | +€385 | |
| Profit (loss) for the period | 9904 | -€20,201 | -€2,820 | +€17,380 | +86.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,201 | -€2,820 | +€17,380 | +86.0% |
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 16 October 2026 via checked.be.