ETS. CAVEYE - VINDEVOGEL: 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.
ETS. CAVEYE - VINDEVOGEL
Largest movements
- Cash +€50,826
up €50,826 (+97.2%), from €52,298 to €103,123
mainly Other debts (+€50,028) and Stocks and contracts (+€26,970)
- Stocks and contracts -€26,970
down €26,970 (-7.3%), from €367,008 to €340,037
- Receivables within one year -€16,818
down €16,818 (-53.0%), from €31,710 to €14,891
of which Trade receivables: -€19,774
- Other debts +€50,028
up €50,028 (+1,567%), from €3,193 to €53,221
- Profit (loss) carried forward -€39,838
down €39,838 (-9.6%), from €414,963 to €375,125
- Write-downs +€13,058
new in 2025: €13,058
- Gross operating margin -€6,412
down €6,412 (-19.1%), from €33,564 to €27,152
- Taxes +€623
up €623 (+19.5%), from €3,195 to €3,818
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 | €455,503 | €462,540 | +€7,037 | +1.5% |
| Fixed assets | 21/28 | €4,488 | €4,488 | = | 0.0% |
| Financial fixed assets | 28 | €4,488 | €4,488 | = | 0.0% |
| Current assets | 29/58 | €451,015 | €458,052 | +€7,037 | +1.6% |
| Stocks and contracts in progress | 3 | €367,008 | €340,037 | -€26,970 | -7.3% |
| Stocks | 30/36 | €367,008 | €340,037 | -€26,970 | -7.3% |
| Amounts receivable within one year | 40/41 | €31,710 | €14,891 | -€16,818 | -53.0% |
| Trade receivables | 40 | €28,382 | €8,608 | -€19,774 | -69.7% |
| Other amounts receivable | 41 | €3,327 | €6,283 | +€2,956 | +88.8% |
| Cash at bank and in hand | 54/58 | €52,298 | €103,123 | +€50,826 | +97.2% |
| Total equity and liabilities | 10/49 | €455,503 | €462,540 | +€7,037 | +1.5% |
| Equity | 10/15 | €449,049 | €409,211 | -€39,838 | -8.9% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €3,099 | €3,099 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,099 | €3,099 | = | 0.0% |
| Profit (loss) carried forward | 14 | €414,963 | €375,125 | -€39,838 | -9.6% |
| Amounts payable | 17/49 | €6,454 | €53,329 | +€46,875 | +726% |
| Amounts payable within one year | 42/48 | €6,454 | €53,329 | +€46,875 | +726% |
| Trade debts | 44 | €72 | €109 | +€37 | +50.7% |
| Suppliers | 440/4 | €72 | €109 | +€37 | +50.7% |
| Taxes, remuneration and social security | 45 | €3,189 | €0 | -€3,189 | -100% |
| Taxes | 450/3 | €3,189 | €0 | -€3,189 | -100% |
| Other amounts payable | 47/48 | €3,193 | €53,221 | +€50,028 | +1,567% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €13,058 | +€13,058 | |
| Other operating charges | 640/8 | - | €119 | +€119 | |
| Gross operating margin | 9900 | €33,564 | €27,152 | -€6,412 | -19.1% |
| Operating profit (loss) | 9901 | €33,564 | €13,975 | -€19,589 | -58.4% |
| Financial income | 75/76B | €169 | €137 | -€32 | -18.9% |
| Recurring financial income | 75 | €169 | €137 | -€32 | -18.9% |
| Financial charges | 65/66B | €121 | €132 | +€11 | +9.0% |
| Recurring financial charges | 65 | €121 | €132 | +€11 | +9.0% |
| Profit (loss) for the period before taxes | 9903 | €33,612 | €13,980 | -€19,632 | -58.4% |
| Income taxes | 67/77 | €3,195 | €3,818 | +€623 | +19.5% |
| Profit (loss) for the period | 9904 | €30,417 | €10,162 | -€20,255 | -66.6% |
| Profit (loss) for the period to be appropriated | 9905 | €30,417 | €10,162 | -€20,255 | -66.6% |
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 23 October 2026 via checked.be.