CINVERDE: 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.
CINVERDE
Largest movements
- Receivables within one year +€2,022
up €2,022 (+136%), from €1,483 to €3,504
of which Trade receivables: +€2,030
- Deferred charges and accrued income +€434
up €434 (+344%), from €126 to €560
- Cash +€240
up €240 (+36.2%), from €663 to €903
mainly Other debts (+€15,310) and Trade debts (+€2,778)
- Other debts +€15,310
up €15,310 (+363%), from €4,223 to €19,533
- Profit (loss) carried forward -€12,794
down €12,794 (-39.5%), from -€32,383 to -€45,176
- Trade debts +€2,778
up €2,778 (+64.5%), from €4,305 to €7,083
- Debts after one year -€1,526
down €1,526 (-100%), from €1,526 to €0
- Short-term financial debts -€522
down €522 (-6.2%), from €8,417 to €7,894
- Gross operating margin -€16,148
down €16,148, from €6,580 to -€9,568
- Other operating charges +€281
up €281 (+44.8%), from €627 to €908
- Financial charges -€179
down €179 (-7.1%), from €2,511 to €2,332
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 | €2,272 | €4,968 | +€2,696 | +119% |
| Current assets | 29/58 | €2,272 | €4,968 | +€2,696 | +119% |
| Amounts receivable within one year | 40/41 | €1,483 | €3,504 | +€2,022 | +136% |
| Trade receivables | 40 | €1,475 | €3,504 | +€2,030 | +138% |
| Other amounts receivable | 41 | €8 | €0 | -€8 | -100% |
| Cash at bank and in hand | 54/58 | €663 | €903 | +€240 | +36.2% |
| Deferred charges and accrued income | 490/1 | €126 | €560 | +€434 | +344% |
| Total equity and liabilities | 10/49 | €2,272 | €4,968 | +€2,696 | +119% |
| Equity | 10/15 | -€19,272 | -€32,066 | -€12,794 | -66.4% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €611 | €611 | = | 0.0% |
| Non-distributable reserves | 130/1 | €611 | €611 | = | 0.0% |
| Reserves not available under the articles | 1311 | €611 | €611 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,383 | -€45,176 | -€12,794 | -39.5% |
| Amounts payable | 17/49 | €21,544 | €37,033 | +€15,489 | +71.9% |
| Amounts payable after more than one year | 17 | €1,526 | €0 | -€1,526 | -100% |
| Financial debts | 170/4 | €1,526 | €0 | -€1,526 | -100% |
| Amounts payable within one year | 42/48 | €19,934 | €37,033 | +€17,100 | +85.8% |
| Current portion of amounts payable after more than one year | 42 | €1,513 | €1,526 | +€13 | +0.9% |
| Financial debts | 43 | €8,417 | €7,894 | -€522 | -6.2% |
| Credit institutions | 430/8 | €8,417 | €7,894 | -€522 | -6.2% |
| Trade debts | 44 | €4,305 | €7,083 | +€2,778 | +64.5% |
| Suppliers | 440/4 | €4,305 | €7,083 | +€2,778 | +64.5% |
| Taxes, remuneration and social security | 45 | €1,476 | €997 | -€480 | -32.5% |
| Taxes | 450/3 | €586 | €997 | +€410 | +69.9% |
| Remuneration and social security | 454/9 | €890 | €0 | -€890 | -100% |
| Other amounts payable | 47/48 | €4,223 | €19,533 | +€15,310 | +363% |
| Accrued charges and deferred income | 492/3 | €84 | €0 | -€84 | -100% |
| Other operating charges | 640/8 | €627 | €908 | +€281 | +44.8% |
| Gross operating margin | 9900 | €6,580 | -€9,568 | -€16,148 | |
| Operating profit (loss) | 9901 | €5,953 | -€10,476 | -€16,429 | |
| Financial income | 75/76B | €0 | €14 | +€14 | +4,593% |
| Recurring financial income | 75 | €0 | €14 | +€14 | +4,593% |
| Financial charges | 65/66B | €2,511 | €2,332 | -€179 | -7.1% |
| Recurring financial charges | 65 | €2,511 | €2,332 | -€179 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €3,442 | -€12,794 | -€16,236 | |
| Income taxes | 67/77 | -€5 | €0 | +€5 | |
| Profit (loss) for the period | 9904 | €3,447 | -€12,794 | -€16,240 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,447 | -€12,794 | -€16,240 |
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 28 October 2026 via checked.be.