CVM.D: 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.D
Largest movements
- Receivables within one year -€86,032
down €86,032 (-31.4%), from €274,405 to €188,373
of which Trade receivables: -€97,822
- Cash +€8,156
up €8,156 (+1504.1%), from €542 to €8,699
mainly Receivables within one year (+€86,032) and Net result for the year (+€22,461)
- Deferred charges and accrued income +€4,950
up €4,950 (+196.4%), from €2,520 to €7,470
- Other debts -€96,612
down €96,612 (-30.7%), from €314,355 to €217,744
- Reserves +€22,461
up €22,461 (+5993.9%), from €375 to €22,836
- Short-term financial debts +€7,048
new in 2025: €7,048
- Trade debts -€5,869
down €5,869 (-92.0%), from €6,379 to €510
- Gross operating margin +€24,268
up €24,268, from -€3,631 to €20,637
- Financial income -€4,214
down €4,214 (-39.0%), from €10,814 to €6,600
- Taxes +€2,217
up €2,217 (+925.0%), from €240 to €2,456
- Other operating charges -€458
down €458 (-29.6%), from €1,546 to €1,088
- Financial charges -€413
down €413 (-25.1%), from €1,644 to €1,231
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 | €277,467 | €204,542 | -€72,925 | -26.3% |
| Current assets | 29/58 | €277,467 | €204,542 | -€72,925 | -26.3% |
| Amounts receivable within one year | 40/41 | €274,405 | €188,373 | -€86,032 | -31.4% |
| Trade receivables | 40 | €109,405 | €11,583 | -€97,822 | -89.4% |
| Other amounts receivable | 41 | €165,000 | €176,790 | +€11,790 | +7.1% |
| Cash at bank and in hand | 54/58 | €542 | €8,699 | +€8,156 | +1504.1% |
| Deferred charges and accrued income | 490/1 | €2,520 | €7,470 | +€4,950 | +196.4% |
| Total equity and liabilities | 10/49 | €277,467 | €204,542 | -€72,925 | -26.3% |
| Equity | 10/15 | -€53,220 | -€30,758 | +€22,461 | +42.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €375 | €22,836 | +€22,461 | +5993.9% |
| Distributable reserves | 133 | €375 | €22,836 | +€22,461 | +5993.9% |
| Profit (loss) carried forward | 14 | -€73,595 | -€73,595 | = | 0.0% |
| Amounts payable | 17/49 | €330,687 | €235,300 | -€95,387 | -28.8% |
| Amounts payable within one year | 42/48 | €330,109 | €234,839 | -€95,270 | -28.9% |
| Financial debts | 43 | - | €7,048 | +€7,048 | |
| Credit institutions | 430/8 | - | €7,048 | +€7,048 | |
| Trade debts | 44 | €6,379 | €510 | -€5,869 | -92.0% |
| Suppliers | 440/4 | €6,379 | €510 | -€5,869 | -92.0% |
| Taxes, remuneration and social security | 45 | €9,375 | €9,537 | +€162 | +1.7% |
| Taxes | 450/3 | €7,275 | €6,787 | -€488 | -6.7% |
| Remuneration and social security | 454/9 | €2,100 | €2,750 | +€650 | +31.0% |
| Other amounts payable | 47/48 | €314,355 | €217,744 | -€96,612 | -30.7% |
| Accrued charges and deferred income | 492/3 | €578 | €462 | -€116 | -20.1% |
| Other operating charges | 640/8 | €1,546 | €1,088 | -€458 | -29.6% |
| Gross operating margin | 9900 | -€3,631 | €20,637 | +€24,268 | |
| Operating profit (loss) | 9901 | -€5,177 | €19,549 | +€24,726 | |
| Financial income | 75/76B | €10,814 | €6,600 | -€4,214 | -39.0% |
| Recurring financial income | 75 | €10,814 | €6,600 | -€4,214 | -39.0% |
| Financial charges | 65/66B | €1,644 | €1,231 | -€413 | -25.1% |
| Recurring financial charges | 65 | €1,644 | €1,231 | -€413 | -25.1% |
| Profit (loss) for the period before taxes | 9903 | €3,993 | €24,918 | +€20,925 | +524.1% |
| Income taxes | 67/77 | €240 | €2,456 | +€2,217 | +925.0% |
| Profit (loss) for the period | 9904 | €3,753 | €22,461 | +€18,709 | +498.5% |
| Profit (loss) for the period to be appropriated | 9905 | €3,753 | €22,461 | +€18,709 | +498.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.