CVN R: 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.
CVN R
Largest movements
- Cash +€25,881
up €25,881 (+359%), from €7,203 to €33,084
mainly Net result for the year (+€70,281) and Depreciation (+€12,782)
- Receivables within one year -€7,456
down €7,456 (-14.1%), from €52,738 to €45,282
of which Other amounts receivable: -€5,853
- Tangible fixed assets +€3,181
up €3,181 (+4.3%), from €74,263 to €77,444
of which Other tangible fixed assets: +€14,824
- Reserves +€35,000
up €35,000 (+38.0%), from €92,000 to €127,000
- Debts after one year -€30,966
down €30,966 (-38.3%), from €80,835 to €49,869
- Other debts +€9,756
up €9,756 (+16.3%), from €60,000 to €69,756
- Tax, wage and social debts +€6,460
up €6,460 (+50.0%), from €12,912 to €19,371
- Financial income -€13,135
down €13,135 (-50.1%), from €26,217 to €13,082
- Depreciation +€2,540
up €2,540 (+24.8%), from €10,242 to €12,782
- Financial charges +€1,177
up €1,177 (+66.9%), from €1,759 to €2,936
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 | €291,133 | €313,353 | +€22,220 | +7.6% |
| Fixed assets | 21/28 | €229,338 | €232,519 | +€3,181 | +1.4% |
| Tangible fixed assets | 22/27 | €74,263 | €77,444 | +€3,181 | +4.3% |
| Plant, machinery and equipment | 23 | €1,197 | €862 | -€335 | -28.0% |
| Furniture and vehicles | 24 | €60,671 | €49,363 | -€11,307 | -18.6% |
| Other tangible fixed assets | 26 | €12,395 | €27,219 | +€14,824 | +120% |
| Financial fixed assets | 28 | €155,075 | €155,075 | = | 0.0% |
| Current assets | 29/58 | €61,795 | €80,834 | +€19,039 | +30.8% |
| Amounts receivable within one year | 40/41 | €52,738 | €45,282 | -€7,456 | -14.1% |
| Trade receivables | 40 | €46,790 | €45,188 | -€1,602 | -3.4% |
| Other amounts receivable | 41 | €5,948 | €95 | -€5,853 | -98.4% |
| Cash at bank and in hand | 54/58 | €7,203 | €33,084 | +€25,881 | +359% |
| Deferred charges and accrued income | 490/1 | €1,854 | €2,467 | +€613 | +33.1% |
| Total equity and liabilities | 10/49 | €291,133 | €313,353 | +€22,220 | +7.6% |
| Equity | 10/15 | €101,574 | €136,855 | +€35,281 | +34.7% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €92,000 | €127,000 | +€35,000 | +38.0% |
| Distributable reserves | 133 | €92,000 | €127,000 | +€35,000 | +38.0% |
| Profit (loss) carried forward | 14 | €2,074 | €2,355 | +€281 | +13.5% |
| Amounts payable | 17/49 | €189,559 | €176,499 | -€13,060 | -6.9% |
| Amounts payable after more than one year | 17 | €80,835 | €49,869 | -€30,966 | -38.3% |
| Financial debts | 170/4 | €80,835 | €49,869 | -€30,966 | -38.3% |
| Amounts payable within one year | 42/48 | €106,053 | €123,733 | +€17,680 | +16.7% |
| Current portion of amounts payable after more than one year | 42 | €30,829 | €30,966 | +€137 | +0.4% |
| Trade debts | 44 | €2,312 | €3,640 | +€1,328 | +57.4% |
| Suppliers | 440/4 | €2,312 | €3,640 | +€1,328 | +57.4% |
| Taxes, remuneration and social security | 45 | €12,912 | €19,371 | +€6,460 | +50.0% |
| Taxes | 450/3 | €12,912 | €19,371 | +€6,460 | +50.0% |
| Other amounts payable | 47/48 | €60,000 | €69,756 | +€9,756 | +16.3% |
| Accrued charges and deferred income | 492/3 | €2,671 | €2,896 | +€225 | +8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,242 | €12,782 | +€2,540 | +24.8% |
| Other operating charges | 640/8 | €891 | €897 | +€6 | +0.7% |
| Gross operating margin | 9900 | €101,373 | €101,680 | +€308 | +0.3% |
| Operating profit (loss) | 9901 | €90,240 | €88,001 | -€2,239 | -2.5% |
| Financial income | 75/76B | €26,217 | €13,082 | -€13,135 | -50.1% |
| Recurring financial income | 75 | €26,217 | €13,082 | -€13,135 | -50.1% |
| Financial charges | 65/66B | €1,759 | €2,936 | +€1,177 | +66.9% |
| Recurring financial charges | 65 | €1,759 | €2,936 | +€1,177 | +66.9% |
| Profit (loss) for the period before taxes | 9903 | €114,698 | €98,147 | -€16,551 | -14.4% |
| Income taxes | 67/77 | €27,374 | €27,866 | +€492 | +1.8% |
| Profit (loss) for the period | 9904 | €87,324 | €70,281 | -€17,043 | -19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €87,324 | €70,281 | -€17,043 | -19.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.