CVS INVEST: 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.
CVS INVEST
Largest movements
- Cash +€91,469
up €91,469 (+34.9%), from €262,126 to €353,595
mainly Net result for the year (+€35,790) and Receivables within one year (+€27,829)
- Receivables within one year -€27,829
down €27,829 (-30.6%), from €90,813 to €62,984
of which Trade receivables: -€25,258
- Reserves +€35,790
up €35,790 (+13.1%), from €273,523 to €309,312
of which Distributable reserves: +€35,790
- Staff costs +€18,208
up €18,208 (+6.4%), from €285,754 to €303,962
- Gross operating margin -€9,254
down €9,254 (-2.3%), from €396,680 to €387,426
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 | €2,506,382 | €2,566,571 | +€60,190 | +2.4% |
| Fixed assets | 21/28 | €2,134,000 | €2,134,000 | = | 0.0% |
| Financial fixed assets | 28 | €2,134,000 | €2,134,000 | = | 0.0% |
| Current assets | 29/58 | €372,382 | €432,571 | +€60,190 | +16.2% |
| Amounts receivable after more than one year | 29 | €180 | - | -€180 | |
| Trade receivables | 290 | €180 | - | -€180 | |
| Amounts receivable within one year | 40/41 | €90,813 | €62,984 | -€27,829 | -30.6% |
| Trade receivables | 40 | €77,275 | €52,017 | -€25,258 | -32.7% |
| Other amounts receivable | 41 | €13,538 | €10,967 | -€2,571 | -19.0% |
| Cash at bank and in hand | 54/58 | €262,126 | €353,595 | +€91,469 | +34.9% |
| Deferred charges and accrued income | 490/1 | €19,263 | €15,993 | -€3,270 | -17.0% |
| Total equity and liabilities | 10/49 | €2,506,382 | €2,566,571 | +€60,190 | +2.4% |
| Equity | 10/15 | €1,780,629 | €1,816,418 | +€35,790 | +2.0% |
| Contributions | 10/11 | €1,507,106 | €1,507,106 | = | 0.0% |
| Reserves | 13 | €273,523 | €309,312 | +€35,790 | +13.1% |
| Non-distributable reserves | 130/1 | €212 | €212 | = | 0.0% |
| Reserves not available under the articles | 1311 | €212 | €212 | = | 0.0% |
| Distributable reserves | 133 | €273,311 | €309,100 | +€35,790 | +13.1% |
| Amounts payable | 17/49 | €725,753 | €750,153 | +€24,400 | +3.4% |
| Amounts payable after more than one year | 17 | €250,000 | €250,000 | = | 0.0% |
| Financial debts | 170/4 | €250,000 | €250,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €451,983 | €495,953 | +€43,970 | +9.7% |
| Financial debts | 43 | €11,463 | €24,406 | +€12,943 | +113% |
| Credit institutions | 430/8 | €11,463 | €24,406 | +€12,943 | +113% |
| Trade debts | 44 | €684 | €12,161 | +€11,477 | +1,677% |
| Suppliers | 440/4 | €684 | €12,161 | +€11,477 | +1,677% |
| Taxes, remuneration and social security | 45 | €53,836 | €54,308 | +€473 | +0.9% |
| Taxes | 450/3 | €9,287 | €8,176 | -€1,111 | -12.0% |
| Remuneration and social security | 454/9 | €44,549 | €46,132 | +€1,584 | +3.6% |
| Other amounts payable | 47/48 | €386,000 | €405,078 | +€19,078 | +4.9% |
| Accrued charges and deferred income | 492/3 | €23,770 | €4,200 | -€19,570 | -82.3% |
| Non-recurring operating income | 76A | €28,207 | €28,688 | +€481 | +1.7% |
| Remuneration, social security and pensions | 62 | €285,754 | €303,962 | +€18,208 | +6.4% |
| Other operating charges | 640/8 | €163 | €420 | +€257 | +158% |
| Gross operating margin | 9900 | €396,680 | €387,426 | -€9,254 | -2.3% |
| Operating profit (loss) | 9901 | €110,764 | €83,044 | -€27,720 | -25.0% |
| Financial income | 75/76B | €0 | €6 | +€6 | +29,900% |
| Recurring financial income | 75 | €0 | €6 | +€6 | +29,900% |
| Financial charges | 65/66B | €36,096 | €32,822 | -€3,274 | -9.1% |
| Recurring financial charges | 65 | €36,096 | €32,822 | -€3,274 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €74,668 | €50,228 | -€24,440 | -32.7% |
| Income taxes | 67/77 | €12,172 | €14,438 | +€2,267 | +18.6% |
| Profit (loss) for the period | 9904 | €62,497 | €35,790 | -€26,707 | -42.7% |
| Profit (loss) for the period to be appropriated | 9905 | €62,497 | €35,790 | -€26,707 | -42.7% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.