CVO MANAGEMENT: 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.
CVO MANAGEMENT
Largest movements
- Receivables within one year +€16,533
up €16,533 (+71.0%), from €23,286 to €39,819
of which Trade receivables: +€13,505
- Tangible fixed assets -€1,126
down €1,126 (-46.6%), from €2,416 to €1,290
- Cash -€1,100
down €1,100 (-24.3%), from €4,536 to €3,436
mainly Receivables within one year (-€16,533) and Trade debts (-€5,714)
- Profit (loss) carried forward +€17,023
up €17,023 (+185%), from €9,179 to €26,201
- Trade debts -€5,714
down €5,714 (-42.8%), from €13,349 to €7,635
- Tax, wage and social debts +€3,056
up €3,056 (+54.1%), from €5,653 to €8,709
- Gross operating margin +€13,224
up €13,224 (+119%), from €11,095 to €24,319
- Taxes +€3,227
up €3,227 (+168%), from €1,920 to €5,147
- Depreciation -€437
down €437 (-28.0%), from €1,563 to €1,126
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 | €30,238 | €44,545 | +€14,307 | +47.3% |
| Fixed assets | 21/28 | €2,416 | €1,290 | -€1,126 | -46.6% |
| Tangible fixed assets | 22/27 | €2,416 | €1,290 | -€1,126 | -46.6% |
| Furniture and vehicles | 24 | €2,416 | €1,290 | -€1,126 | -46.6% |
| Current assets | 29/58 | €27,822 | €43,255 | +€15,433 | +55.5% |
| Amounts receivable within one year | 40/41 | €23,286 | €39,819 | +€16,533 | +71.0% |
| Trade receivables | 40 | €23,160 | €36,665 | +€13,505 | +58.3% |
| Other amounts receivable | 41 | €126 | €3,154 | +€3,028 | +2,403% |
| Cash at bank and in hand | 54/58 | €4,536 | €3,436 | -€1,100 | -24.3% |
| Total equity and liabilities | 10/49 | €30,238 | €44,545 | +€14,307 | +47.3% |
| Equity | 10/15 | €11,179 | €28,201 | +€17,023 | +152% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,179 | €26,201 | +€17,023 | +185% |
| Amounts payable | 17/49 | €19,059 | €16,344 | -€2,716 | -14.2% |
| Amounts payable within one year | 42/48 | €19,059 | €16,344 | -€2,716 | -14.2% |
| Trade debts | 44 | €13,349 | €7,635 | -€5,714 | -42.8% |
| Suppliers | 440/4 | €13,349 | €7,635 | -€5,714 | -42.8% |
| Taxes, remuneration and social security | 45 | €5,653 | €8,709 | +€3,056 | +54.1% |
| Taxes | 450/3 | €5,653 | €8,709 | +€3,056 | +54.1% |
| Other amounts payable | 47/48 | €57 | - | -€57 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,563 | €1,126 | -€437 | -28.0% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | €11,095 | €24,319 | +€13,224 | +119% |
| Operating profit (loss) | 9901 | €9,148 | €22,806 | +€13,658 | +149% |
| Financial income | 75/76B | - | €90 | +€90 | |
| Recurring financial income | 75 | - | €90 | +€90 | |
| Financial charges | 65/66B | €686 | €726 | +€40 | +5.9% |
| Recurring financial charges | 65 | €686 | €726 | +€40 | +5.9% |
| Profit (loss) for the period before taxes | 9903 | €8,462 | €22,170 | +€13,708 | +162% |
| Income taxes | 67/77 | €1,920 | €5,147 | +€3,227 | +168% |
| Profit (loss) for the period | 9904 | €6,542 | €17,023 | +€10,480 | +160% |
| Profit (loss) for the period to be appropriated | 9905 | €6,542 | €17,023 | +€10,480 | +160% |
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 18 October 2026 via checked.be.