CVTech: 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.
CVTech
Largest movements
- Tangible fixed assets -€31,427
down €31,427 (-15.7%), from €199,745 to €168,318
of which Furniture and vehicles: -€23,493
- Cash -€21,175
down €21,175 (-36.2%), from €58,529 to €37,355
mainly Contributions, distributions and other (-€35,924) and Receivables within one year (-€18,896)
- Receivables within one year +€18,896
up €18,896 (+65.9%), from €28,679 to €47,575
of which Trade receivables: +€26,941
- Stocks and contracts +€13,445
up €13,445 (+153.6%), from €8,752 to €22,197
of which Stocks: +€8,340
- Current investments -€11,116
no longer reported in 2025 (was €11,116)
- Reserves -€41,449
down €41,449 (-22.3%), from €186,255 to €144,805
of which Distributable reserves: -€41,449
- Other debts +€32,027
up €32,027 (+1524.2%), from €2,101 to €34,128
- Debts after one year -€17,412
down €17,412 (-31.2%), from €55,826 to €38,414
- Tax, wage and social debts -€13,118
down €13,118 (-72.7%), from €18,052 to €4,934
of which Taxes: -€11,923
- Trade debts +€3,610
up €3,610 (+25.5%), from €14,148 to €17,758
- Gross operating margin +€29,881
up €29,881 (+83.8%), from €35,667 to €65,548
- Staff costs +€9,881
up €9,881 (+42.5%), from €23,225 to €33,106
- Depreciation +€6,171
up €6,171 (+21.9%), from €28,230 to €34,401
- Financial charges -€1,911
down €1,911 (-52.9%), from €3,610 to €1,700
- Financial income -€1,111
down €1,111 (-77.4%), from €1,436 to €325
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 | €312,982 | €277,123 | -€35,859 | -11.5% |
| Fixed assets | 21/28 | €199,855 | €168,428 | -€31,427 | -15.7% |
| Tangible fixed assets | 22/27 | €199,745 | €168,318 | -€31,427 | -15.7% |
| Land and buildings | 22 | €60,060 | €55,877 | -€4,183 | -7.0% |
| Plant, machinery and equipment | 23 | €6,039 | €6,020 | -€19 | -0.3% |
| Furniture and vehicles | 24 | €84,791 | €61,298 | -€23,493 | -27.7% |
| Other tangible fixed assets | 26 | €48,855 | €45,123 | -€3,732 | -7.6% |
| Financial fixed assets | 28 | €110 | €110 | = | 0.0% |
| Current assets | 29/58 | €113,127 | €108,695 | -€4,432 | -3.9% |
| Stocks and contracts in progress | 3 | €8,752 | €22,197 | +€13,445 | +153.6% |
| Stocks | 30/36 | €8,752 | €17,092 | +€8,340 | +95.3% |
| Contracts in progress | 37 | - | €5,105 | +€5,105 | |
| Amounts receivable within one year | 40/41 | €28,679 | €47,575 | +€18,896 | +65.9% |
| Trade receivables | 40 | €8,988 | €35,928 | +€26,941 | +299.8% |
| Other amounts receivable | 41 | €19,692 | €11,647 | -€8,045 | -40.9% |
| Current investments | 50/53 | €11,116 | - | -€11,116 | |
| Cash at bank and in hand | 54/58 | €58,529 | €37,355 | -€21,175 | -36.2% |
| Deferred charges and accrued income | 490/1 | €6,050 | €1,568 | -€4,482 | -74.1% |
| Total equity and liabilities | 10/49 | €312,982 | €277,123 | -€35,859 | -11.5% |
| Equity | 10/15 | €205,005 | €163,555 | -€41,449 | -20.2% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €186,255 | €144,805 | -€41,449 | -22.3% |
| Tax-exempt reserves | 132 | €249 | €249 | = | 0.0% |
| Distributable reserves | 133 | €186,006 | €144,557 | -€41,449 | -22.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €107,977 | €113,567 | +€5,590 | +5.2% |
| Amounts payable after more than one year | 17 | €55,826 | €38,414 | -€17,412 | -31.2% |
| Financial debts | 170/4 | €55,826 | €38,414 | -€17,412 | -31.2% |
| Amounts payable within one year | 42/48 | €52,047 | €75,076 | +€23,029 | +44.2% |
| Current portion of amounts payable after more than one year | 42 | €17,746 | €18,256 | +€510 | +2.9% |
| Trade debts | 44 | €14,148 | €17,758 | +€3,610 | +25.5% |
| Suppliers | 440/4 | €14,148 | €17,758 | +€3,610 | +25.5% |
| Taxes, remuneration and social security | 45 | €18,052 | €4,934 | -€13,118 | -72.7% |
| Taxes | 450/3 | €13,720 | €1,796 | -€11,923 | -86.9% |
| Remuneration and social security | 454/9 | €4,332 | €3,138 | -€1,195 | -27.6% |
| Other amounts payable | 47/48 | €2,101 | €34,128 | +€32,027 | +1524.2% |
| Accrued charges and deferred income | 492/3 | €104 | €77 | -€26 | -25.4% |
| Non-recurring operating income | 76A | €1,277 | - | -€1,277 | |
| Remuneration, social security and pensions | 62 | €23,225 | €33,106 | +€9,881 | +42.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,230 | €34,401 | +€6,171 | +21.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €745 | +€745 | |
| Other operating charges | 640/8 | €1,514 | €1,275 | -€240 | -15.8% |
| Gross operating margin | 9900 | €35,667 | €65,548 | +€29,881 | +83.8% |
| Operating profit (loss) | 9901 | -€17,302 | -€3,979 | +€13,324 | +77.0% |
| Financial income | 75/76B | €1,436 | €325 | -€1,111 | -77.4% |
| Recurring financial income | 75 | €1,436 | €325 | -€1,111 | -77.4% |
| Financial charges | 65/66B | €3,610 | €1,700 | -€1,911 | -52.9% |
| Recurring financial charges | 65 | €3,610 | €1,700 | -€1,911 | -52.9% |
| Profit (loss) for the period before taxes | 9903 | -€19,477 | -€5,354 | +€14,123 | +72.5% |
| Income taxes | 67/77 | €182 | €171 | -€11 | -6.3% |
| Profit (loss) for the period | 9904 | -€19,659 | -€5,525 | +€14,134 | +71.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,659 | -€5,525 | +€14,134 | +71.9% |
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 8 October 2026 via checked.be.