CAVANCO: 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.
CAVANCO
Largest movements
- Current investments -€75,205
down €75,205 (-13.0%), from €577,692 to €502,487
- Cash +€16,725
up €16,725 (+35.3%), from €47,350 to €64,075
mainly Other debts (+€347,429) and Current investments (+€75,205)
- Reserves -€399,081
no longer reported in 2025 (was €399,081)
- Other debts +€347,429
up €347,429 (+598%), from €58,140 to €405,570
- Debts after one year +€15,000
up €15,000 (+5.1%), from €295,314 to €310,314
- Accrued charges and deferred income -€14,820
down €14,820 (-84.1%), from €17,616 to €2,796
- Financial income -€336,155
down €336,155 (-92.0%), from €365,560 to €29,405
of which Non-recurring financial income: -€341,879
- Gross operating margin -€19,559
down €19,559 (-18.7%), from €104,373 to €84,814
- Financial charges -€17,248
down €17,248 (-41.5%), from €41,515 to €24,267
- Taxes -€1,363
down €1,363 (-6.3%), from €21,647 to €20,284
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 | €1,154,447 | €1,105,159 | -€49,289 | -4.3% |
| Fixed assets | 21/28 | €17,934 | €22,773 | +€4,838 | +27.0% |
| Tangible fixed assets | 22/27 | €17,934 | €22,773 | +€4,838 | +27.0% |
| Plant, machinery and equipment | 23 | €441 | €7,376 | +€6,935 | +1,573% |
| Furniture and vehicles | 24 | €6,210 | €6,210 | = | 0.0% |
| Other tangible fixed assets | 26 | €11,283 | €9,186 | -€2,097 | -18.6% |
| Current assets | 29/58 | €1,136,513 | €1,082,386 | -€54,127 | -4.8% |
| Amounts receivable within one year | 40/41 | €509,593 | €513,293 | +€3,700 | +0.7% |
| Trade receivables | 40 | €5,268 | €7,350 | +€2,082 | +39.5% |
| Other amounts receivable | 41 | €504,324 | €505,942 | +€1,618 | +0.3% |
| Current investments | 50/53 | €577,692 | €502,487 | -€75,205 | -13.0% |
| Cash at bank and in hand | 54/58 | €47,350 | €64,075 | +€16,725 | +35.3% |
| Deferred charges and accrued income | 490/1 | €1,878 | €2,532 | +€653 | +34.8% |
| Total equity and liabilities | 10/49 | €1,154,447 | €1,105,159 | -€49,289 | -4.3% |
| Equity | 10/15 | €767,681 | €368,600 | -€399,081 | -52.0% |
| Contributions | 10/11 | €368,600 | €368,600 | = | 0.0% |
| Reserves | 13 | €399,081 | - | -€399,081 | |
| Distributable reserves | 133 | €399,081 | - | -€399,081 | |
| Amounts payable | 17/49 | €386,766 | €736,559 | +€349,792 | +90.4% |
| Amounts payable after more than one year | 17 | €295,314 | €310,314 | +€15,000 | +5.1% |
| Financial debts | 170/4 | €295,314 | €310,314 | +€15,000 | +5.1% |
| Amounts payable within one year | 42/48 | €73,837 | €423,449 | +€349,612 | +473% |
| Trade debts | 44 | €463 | €2,830 | +€2,366 | +511% |
| Suppliers | 440/4 | €463 | €2,830 | +€2,366 | +511% |
| Taxes, remuneration and social security | 45 | €15,234 | €15,050 | -€184 | -1.2% |
| Taxes | 450/3 | €15,234 | €15,050 | -€184 | -1.2% |
| Other amounts payable | 47/48 | €58,140 | €405,570 | +€347,429 | +598% |
| Accrued charges and deferred income | 492/3 | €17,616 | €2,796 | -€14,820 | -84.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,233 | €2,985 | -€249 | -7.7% |
| Other operating charges | 640/8 | €2,790 | €1,914 | -€876 | -31.4% |
| Gross operating margin | 9900 | €104,373 | €84,814 | -€19,559 | -18.7% |
| Operating profit (loss) | 9901 | €98,350 | €79,915 | -€18,435 | -18.7% |
| Financial income | 75/76B | €365,560 | €29,405 | -€336,155 | -92.0% |
| Recurring financial income | 75 | €23,681 | €29,405 | +€5,724 | +24.2% |
| Non-recurring financial income | 76B | €341,879 | - | -€341,879 | |
| Financial charges | 65/66B | €41,515 | €24,267 | -€17,248 | -41.5% |
| Recurring financial charges | 65 | €41,515 | €24,267 | -€17,248 | -41.5% |
| Profit (loss) for the period before taxes | 9903 | €422,394 | €85,053 | -€337,341 | -79.9% |
| Income taxes | 67/77 | €21,647 | €20,284 | -€1,363 | -6.3% |
| Profit (loss) for the period | 9904 | €400,747 | €64,769 | -€335,978 | -83.8% |
| Profit (loss) for the period to be appropriated | 9905 | €400,747 | €64,769 | -€335,978 | -83.8% |
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 15 October 2026 via checked.be.