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.
What changed
CVM Consult
NACE 69.201, Certified accountants and tax accountants
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.2m
2024 · €1.3m-€79,377
Equity
€6.8m
2024 · €5.7m+€1.1m
Cash
€2.9m
2024 · €507,533+€2.4m
Balance sheet total
€9.0m
2024 · €7.5m+€1.5m
Largest movements
Assets
- Cash +€2.4m
up €2.4m (+469%), from €507,533 to €2.9m
mainly Current investments (+€2.3m) and Net result for the year (+€1.2m)
- Current investments -€2.3m
down €2.3m (-68.4%), from €3.4m to €1.1m
- Tangible fixed assets +€1.4m
up €1.4m (+62.2%), from €2.3m to €3.7m
of which Land and buildings: +€1.1m
Equity and liabilities
- Reserves +€1.1m
up €1.1m (+19.1%), from €5.7m to €6.8m
of which Distributable reserves: +€702,797
- Debts after one year +€219,988
up €219,988 (+18.6%), from €1.2m to €1.4m
- Provisions +€129,785
up €129,785 (+45.0%), from €288,493 to €418,278
of which Deferred taxes: +€129,785
Income statement
- Depreciation +€234,396
up €234,396 (+162%), from €144,878 to €379,274
- Financial income +€222,037
up €222,037 (+301%), from €73,843 to €295,880
- Gross operating margin -€134,881
down €134,881 (-7.0%), from €1.9m to €1.8m
- Taxes -€112,696
down €112,696 (-30.2%), from €373,127 to €260,431
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.
Result 2024
€1.3m
Gross operating margin
-€134,881
Depreciation
-€234,396
Other operating charges
-€7,335
Other operating items
+€2,903
Financial income
+€222,037
Financial charges
-€10,334
Taxes
+€112,696
Deferred taxes and other
-€30,067
Result 2025
€1.2m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€1.8m
Investment
+€479,910
Financing
+€118,144
Cash 2024
€507,533
From operations (derived)
+€1.8m
Net result for the year
+€1.2m
Depreciation
+€379,274
Receivables after one year
+€32,379
Receivables within one year
+€16,525
Smaller working-capital items
-€9,079
Provisions
+€129,785
Trade debts
+€9,693
Accrued charges and deferred income
-€18,020
Investment (derived)
+€479,910
Investment in fixed assets (net)
-€1.8m
Current investments
+€2.3m
Financing
+€118,144
Debts after one year
+€219,988
Current portion of long-term debt
+€48,156
Contributions, distributions and other
-€150,000
Cash 2025
€2.9m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,545,435 | €9,023,782 | +€1.5m | +19.6% |
| Fixed assets | 21/28 | €2,266,672 | €3,707,978 | +€1.4m | +63.6% |
| Tangible fixed assets | 22/27 | €2,264,193 | €3,673,120 | +€1.4m | +62.2% |
| Land and buildings | 22 | €1,927,081 | €2,983,326 | +€1.1m | +54.8% |
| Plant, machinery and equipment | 23 | €8,745 | €56,758 | +€48,013 | +549% |
| Furniture and vehicles | 24 | €997 | €8,666 | +€7,669 | +769% |
| Other tangible fixed assets | 26 | €35,602 | €35,602 | = | 0.0% |
| Assets under construction and advance payments | 27 | €291,768 | €588,768 | +€297,000 | +102% |
| Financial fixed assets | 28 | €2,479 | €34,858 | +€32,379 | +1,306% |
| Current assets | 29/58 | €5,278,763 | €5,315,804 | +€37,041 | +0.7% |
| Amounts receivable after more than one year | 29 | €1,310,052 | €1,277,673 | -€32,379 | -2.5% |
| Other amounts receivable | 291 | €1,310,052 | €1,277,673 | -€32,379 | -2.5% |
| Amounts receivable within one year | 40/41 | €94,409 | €77,883 | -€16,525 | -17.5% |
| Trade receivables | 40 | €5,082 | €5,469 | +€387 | +7.6% |
| Other amounts receivable | 41 | €89,327 | €72,414 | -€16,913 | -18.9% |
| Current investments | 50/53 | €3,365,693 | €1,065,202 | -€2.3m | -68.4% |
| Cash at bank and in hand | 54/58 | €507,533 | €2,888,296 | +€2.4m | +469% |
| Deferred charges and accrued income | 490/1 | €1,077 | €6,750 | +€5,673 | +527% |
| Total equity and liabilities | 10/49 | €7,545,435 | €9,023,782 | +€1.5m | +19.6% |
| Equity | 10/15 | €5,719,243 | €6,811,394 | +€1.1m | +19.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €5,706,843 | €6,798,994 | +€1.1m | +19.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €488,336 | €877,690 | +€389,354 | +79.7% |
| Distributable reserves | 133 | €5,218,507 | €5,921,304 | +€702,797 | +13.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €288,493 | €418,278 | +€129,785 | +45.0% |
| Provisions for liabilities and charges | 160/5 | €125,714 | €125,714 | = | 0.0% |
| Other liabilities and charges | 164/5 | €125,714 | €125,714 | = | 0.0% |
| Deferred taxes | 168 | €162,779 | €292,563 | +€129,785 | +79.7% |
| Amounts payable | 17/49 | €1,537,700 | €1,794,111 | +€256,411 | +16.7% |
| Amounts payable after more than one year | 17 | €1,180,334 | €1,400,322 | +€219,988 | +18.6% |
| Financial debts | 170/4 | €1,180,334 | €1,400,322 | +€219,988 | +18.6% |
| Amounts payable within one year | 42/48 | €339,346 | €393,789 | +€54,443 | +16.0% |
| Current portion of amounts payable after more than one year | 42 | €238,638 | €286,794 | +€48,156 | +20.2% |
| Trade debts | 44 | €6,189 | €15,882 | +€9,693 | +157% |
| Suppliers | 440/4 | €6,189 | €15,882 | +€9,693 | +157% |
| Taxes, remuneration and social security | 45 | €93,708 | €90,302 | -€3,406 | -3.6% |
| Taxes | 450/3 | €87,224 | €83,815 | -€3,409 | -3.9% |
| Remuneration and social security | 454/9 | €6,484 | €6,487 | +€3 | 0.0% |
| Other amounts payable | 47/48 | €812 | €812 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €18,020 | €0 | -€18,020 | -100% |
| Non-recurring operating income | 76A | €769,998 | €627,310 | -€142,688 | -18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €144,878 | €379,274 | +€234,396 | +162% |
| Other operating charges | 640/8 | €10,350 | €17,685 | +€7,335 | +70.9% |
| Non-recurring operating charges | 66A | €2,903 | €0 | -€2,903 | -100% |
| Gross operating margin | 9900 | €1,934,259 | €1,799,378 | -€134,881 | -7.0% |
| Operating profit (loss) | 9901 | €1,776,128 | €1,402,419 | -€373,709 | -21.0% |
| Financial income | 75/76B | €73,843 | €295,880 | +€222,037 | +301% |
| Recurring financial income | 75 | €73,843 | €295,880 | +€222,037 | +301% |
| Financial charges | 65/66B | €55,598 | €65,932 | +€10,334 | +18.6% |
| Recurring financial charges | 65 | €55,598 | €65,932 | +€10,334 | +18.6% |
| Profit (loss) for the period before taxes | 9903 | €1,794,373 | €1,632,367 | -€162,006 | -9.0% |
| Transfer from deferred taxes | 780 | €63,061 | €24,171 | -€38,890 | -61.7% |
| Transfer to deferred taxes | 680 | €162,779 | €153,955 | -€8,823 | -5.4% |
| Income taxes | 67/77 | €373,127 | €260,431 | -€112,696 | -30.2% |
| Profit (loss) for the period | 9904 | €1,321,528 | €1,242,151 | -€79,377 | -6.0% |
| Transfer from tax-exempt reserves | 789 | €189,183 | €72,512 | -€116,671 | -61.7% |
| Transfer to tax-exempt reserves | 689 | €488,336 | €461,866 | -€26,470 | -5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,022,375 | €852,797 | -€169,578 | -16.6% |
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 14 October 2026 via checked.be.