CVSW: 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.
CVSW
Largest movements
- Receivables within one year -€21,527
down €21,527 (-57.4%), from €37,485 to €15,958
of which Trade receivables: -€19,014
- Cash -€4,818
down €4,818 (-18.3%), from €26,372 to €21,555
mainly Tax, wage and social debts (-€10,138) and Contributions, distributions and other (-€9,354)
- Tangible fixed assets -€1,002
down €1,002 (-34.8%), from €2,876 to €1,874
- Deferred charges and accrued income -€867
down €867 (-53.2%), from €1,629 to €762
- Tax, wage and social debts -€10,138
down €10,138 (-56.0%), from €18,118 to €7,980
- Reserves -€9,354
down €9,354 (-22.2%), from €42,147 to €32,793
- Profit (loss) carried forward -€8,440
down €8,440, from €0 to -€8,440
- Trade debts -€1,220
down €1,220 (-64.3%), from €1,897 to €677
- Accrued charges and deferred income +€939
up €939, from €0 to €939
- Gross operating margin -€30,576
down €30,576, from €29,943 to -€634
- Depreciation -€8,262
down €8,262 (-71.4%), from €11,577 to €3,315
- Taxes -€5,080
down €5,080 (-92.6%), from €5,484 to €404
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 | €68,362 | €40,148 | -€28,213 | -41.3% |
| Fixed assets | 21/28 | €2,876 | €1,874 | -€1,002 | -34.8% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €2,876 | €1,874 | -€1,002 | -34.8% |
| Furniture and vehicles | 24 | €2,876 | €1,874 | -€1,002 | -34.8% |
| Current assets | 29/58 | €65,486 | €38,275 | -€27,212 | -41.6% |
| Amounts receivable within one year | 40/41 | €37,485 | €15,958 | -€21,527 | -57.4% |
| Trade receivables | 40 | €31,893 | €12,879 | -€19,014 | -59.6% |
| Other amounts receivable | 41 | €5,593 | €3,079 | -€2,513 | -44.9% |
| Cash at bank and in hand | 54/58 | €26,372 | €21,555 | -€4,818 | -18.3% |
| Deferred charges and accrued income | 490/1 | €1,629 | €762 | -€867 | -53.2% |
| Total equity and liabilities | 10/49 | €68,362 | €40,148 | -€28,213 | -41.3% |
| Equity | 10/15 | €48,347 | €30,553 | -€17,794 | -36.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €42,147 | €32,793 | -€9,354 | -22.2% |
| Distributable reserves | 133 | €42,147 | €32,793 | -€9,354 | -22.2% |
| Profit (loss) carried forward | 14 | €0 | -€8,440 | -€8,440 | |
| Amounts payable | 17/49 | €20,015 | €9,595 | -€10,420 | -52.1% |
| Amounts payable within one year | 42/48 | €20,015 | €8,657 | -€11,358 | -56.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,897 | €677 | -€1,220 | -64.3% |
| Suppliers | 440/4 | €1,897 | €677 | -€1,220 | -64.3% |
| Taxes, remuneration and social security | 45 | €18,118 | €7,980 | -€10,138 | -56.0% |
| Taxes | 450/3 | €18,118 | €7,980 | -€10,138 | -56.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | €939 | +€939 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,577 | €3,315 | -€8,262 | -71.4% |
| Other operating charges | 640/8 | €3,503 | €3,616 | +€113 | +3.2% |
| Gross operating margin | 9900 | €29,943 | -€634 | -€30,576 | |
| Operating profit (loss) | 9901 | €14,863 | -€7,564 | -€22,427 | |
| Financial income | 75/76B | €173 | €81 | -€92 | -53.2% |
| Recurring financial income | 75 | €173 | €81 | -€92 | -53.2% |
| Financial charges | 65/66B | €595 | €552 | -€43 | -7.2% |
| Recurring financial charges | 65 | €595 | €552 | -€43 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €14,441 | -€8,035 | -€22,476 | |
| Income taxes | 67/77 | €5,484 | €404 | -€5,080 | -92.6% |
| Profit (loss) for the period | 9904 | €8,957 | -€8,440 | -€17,396 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,957 | -€8,440 | -€17,396 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.