CVNOT: 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.
CVNOT
Largest movements
- Tangible fixed assets +€46,771
new in 2025: €46,771
- Current investments -€45,000
down €45,000 (-27.3%), from €165,000 to €120,000
- Cash +€38,431
up €38,431 (+223.6%), from €17,185 to €55,616
mainly Net result for the year (+€257,223) and Current investments (+€45,000)
- Receivables within one year -€14,997
down €14,997 (-100.0%), from €15,002 to €6
- Reserves +€257,223
up €257,223 (+83.1%), from €309,491 to €566,714
- Debts after one year -€130,187
down €130,187 (-44.8%), from €290,604 to €160,416
- Other debts -€65,355
down €65,355 (-51.2%), from €127,639 to €62,284
- Tax, wage and social debts -€21,497
down €21,497 (-53.6%), from €40,079 to €18,582
- Current portion of long-term debt -€19,336
down €19,336 (-12.9%), from €149,524 to €130,187
- Gross operating margin -€72,756
down €72,756 (-23.4%), from €310,801 to €238,045
- Taxes -€18,706
down €18,706 (-24.7%), from €75,746 to €57,040
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 | €933,994 | €960,376 | +€26,383 | +2.8% |
| Fixed assets | 21/28 | €736,806 | €783,577 | +€46,771 | +6.3% |
| Tangible fixed assets | 22/27 | - | €46,771 | +€46,771 | |
| Furniture and vehicles | 24 | - | €46,771 | +€46,771 | |
| Financial fixed assets | 28 | €736,806 | €736,806 | = | 0.0% |
| Current assets | 29/58 | €197,188 | €176,799 | -€20,388 | -10.3% |
| Amounts receivable within one year | 40/41 | €15,002 | €6 | -€14,997 | -100.0% |
| Other amounts receivable | 41 | €15,002 | €6 | -€14,997 | -100.0% |
| Current investments | 50/53 | €165,000 | €120,000 | -€45,000 | -27.3% |
| Cash at bank and in hand | 54/58 | €17,185 | €55,616 | +€38,431 | +223.6% |
| Deferred charges and accrued income | 490/1 | - | €1,177 | +€1,177 | |
| Total equity and liabilities | 10/49 | €933,994 | €960,376 | +€26,383 | +2.8% |
| Equity | 10/15 | €324,491 | €581,714 | +€257,223 | +79.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €309,491 | €566,714 | +€257,223 | +83.1% |
| Distributable reserves | 133 | €309,491 | €566,714 | +€257,223 | +83.1% |
| Amounts payable | 17/49 | €609,502 | €378,662 | -€230,840 | -37.9% |
| Amounts payable after more than one year | 17 | €290,604 | €160,416 | -€130,187 | -44.8% |
| Financial debts | 170/4 | €290,604 | €160,416 | -€130,187 | -44.8% |
| Amounts payable within one year | 42/48 | €317,339 | €211,054 | -€106,285 | -33.5% |
| Current portion of amounts payable after more than one year | 42 | €149,524 | €130,187 | -€19,336 | -12.9% |
| Trade debts | 44 | €98 | €0 | -€98 | -100.0% |
| Suppliers | 440/4 | €98 | €0 | -€98 | -100.0% |
| Taxes, remuneration and social security | 45 | €40,079 | €18,582 | -€21,497 | -53.6% |
| Taxes | 450/3 | €40,079 | €18,582 | -€21,497 | -53.6% |
| Other amounts payable | 47/48 | €127,639 | €62,284 | -€65,355 | -51.2% |
| Accrued charges and deferred income | 492/3 | €1,559 | €7,192 | +€5,633 | +361.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €388 | +€388 | |
| Other operating charges | 640/8 | €181 | €128 | -€53 | -29.3% |
| Gross operating margin | 9900 | €310,801 | €238,045 | -€72,756 | -23.4% |
| Operating profit (loss) | 9901 | €310,620 | €237,530 | -€73,090 | -23.5% |
| Financial income | 75/76B | €90,732 | €93,118 | +€2,386 | +2.6% |
| Recurring financial income | 75 | €90,732 | €93,118 | +€2,386 | +2.6% |
| Financial charges | 65/66B | €16,115 | €16,386 | +€271 | +1.7% |
| Recurring financial charges | 65 | €16,115 | €16,386 | +€271 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | €385,237 | €314,263 | -€70,975 | -18.4% |
| Income taxes | 67/77 | €75,746 | €57,040 | -€18,706 | -24.7% |
| Profit (loss) for the period | 9904 | €309,491 | €257,223 | -€52,269 | -16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €309,491 | €257,223 | -€52,269 | -16.9% |
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 30 September 2026 via checked.be.