CVWAREHOUSE: 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.
CVWAREHOUSE
Largest movements
- Receivables within one year +€1.5m
up €1.5m (+292%), from €505,154 to €2.0m
of which Other amounts receivable: +€1.7m
- Financial fixed assets -€1.3m
down €1.3m (-98.8%), from €1.3m to €16,127
- Cash -€80,651
down €80,651 (-38.8%), from €207,903 to €127,252
mainly Receivables within one year (-€1.5m) and Contributions, distributions and other (-€927,736)
- Other debts +€927,736
new in 2025: €927,736
- Profit (loss) carried forward -€746,486
no longer reported in 2025 (was €746,486)
- Trade debts +€163,120
up €163,120 (+72.0%), from €226,645 to €389,764
- Accrued charges and deferred income -€124,647
down €124,647 (-15.7%), from €793,529 to €668,882
- Reserves -€94,000
down €94,000 (-93.8%), from €100,244 to €6,244
of which Distributable reserves: -€94,000
- Gross operating margin +€380,615
up €380,615 (+344%), from €110,719 to €491,334
- Staff costs +€111,503
up €111,503 (+33.6%), from €332,094 to €443,598
- Financial income +€34,722
up €34,722 (+117%), from €29,610 to €64,333
of which Financial income: +€35,205
- Write-downs +€10,000
new in 2025: €10,000
- Taxes -€7,998
down €7,998 (-97.8%), from €8,175 to €176
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 | €2,025,955 | €2,137,096 | +€111,141 | +5.5% |
| Fixed assets | 21/28 | €1,303,048 | €19,200 | -€1.3m | -98.5% |
| Tangible fixed assets | 22/27 | €7,236 | €3,074 | -€4,163 | -57.5% |
| Plant, machinery and equipment | 23 | €2,147 | €668 | -€1,479 | -68.9% |
| Furniture and vehicles | 24 | €5,090 | €2,405 | -€2,684 | -52.7% |
| Financial fixed assets | 28 | €1,295,812 | €16,127 | -€1.3m | -98.8% |
| Current assets | 29/58 | €722,907 | €2,117,896 | +€1.4m | +193% |
| Amounts receivable within one year | 40/41 | €505,154 | €1,977,986 | +€1.5m | +292% |
| Trade receivables | 40 | €501,539 | €294,993 | -€206,546 | -41.2% |
| Other amounts receivable | 41 | €3,615 | €1,682,993 | +€1.7m | +46,457% |
| Current investments | 50/53 | €2,572 | €2,572 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €207,903 | €127,252 | -€80,651 | -38.8% |
| Deferred charges and accrued income | 490/1 | €7,279 | €10,087 | +€2,808 | +38.6% |
| Total equity and liabilities | 10/49 | €2,025,955 | €2,137,096 | +€111,141 | +5.5% |
| Equity | 10/15 | €909,167 | €68,681 | -€840,486 | -92.4% |
| Contributions | 10/11 | €62,438 | €62,438 | = | 0.0% |
| Capital | 10 | €62,438 | €62,438 | = | 0.0% |
| Issued capital | 100 | €62,438 | €62,438 | = | 0.0% |
| Reserves | 13 | €100,244 | €6,244 | -€94,000 | -93.8% |
| Non-distributable reserves | 130/1 | €6,244 | €6,244 | = | 0.0% |
| Legal reserve | 130 | €6,244 | €6,244 | = | 0.0% |
| Distributable reserves | 133 | €94,000 | - | -€94,000 | |
| Profit (loss) carried forward | 14 | €746,486 | - | -€746,486 | |
| Amounts payable | 17/49 | €1,116,788 | €2,068,415 | +€951,627 | +85.2% |
| Amounts payable within one year | 42/48 | €323,259 | €1,399,533 | +€1.1m | +333% |
| Trade debts | 44 | €226,645 | €389,764 | +€163,120 | +72.0% |
| Suppliers | 440/4 | €226,645 | €389,764 | +€163,120 | +72.0% |
| Taxes, remuneration and social security | 45 | €96,615 | €82,033 | -€14,581 | -15.1% |
| Taxes | 450/3 | €66,686 | €51,137 | -€15,549 | -23.3% |
| Remuneration and social security | 454/9 | €29,929 | €30,897 | +€968 | +3.2% |
| Other amounts payable | 47/48 | - | €927,736 | +€927,736 | |
| Accrued charges and deferred income | 492/3 | €793,529 | €668,882 | -€124,647 | -15.7% |
| Remuneration, social security and pensions | 62 | €332,094 | €443,598 | +€111,503 | +33.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,850 | €4,163 | -€1,687 | -28.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,000 | +€10,000 | |
| Other operating charges | 640/8 | €2,386 | €6,635 | +€4,249 | +178% |
| Gross operating margin | 9900 | €110,719 | €491,334 | +€380,615 | +344% |
| Operating profit (loss) | 9901 | -€229,612 | €26,938 | +€256,550 | |
| Financial income | 75/76B | €29,610 | €64,333 | +€34,722 | +117% |
| Recurring financial income | 75 | €29,127 | €64,333 | +€35,205 | +121% |
| Non-recurring financial income | 76B | €483 | - | -€483 | |
| Financial charges | 65/66B | €724 | €3,845 | +€3,121 | +431% |
| Recurring financial charges | 65 | €724 | €3,845 | +€3,121 | +431% |
| Profit (loss) for the period before taxes | 9903 | -€200,725 | €87,426 | +€288,151 | |
| Income taxes | 67/77 | €8,175 | €176 | -€7,998 | -97.8% |
| Profit (loss) for the period | 9904 | -€208,900 | €87,250 | +€296,150 | |
| Profit (loss) for the period to be appropriated | 9905 | -€208,900 | €87,250 | +€296,150 |
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 20 October 2026 via checked.be.