C²: 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.
C²
Largest movements
- Tangible fixed assets -€36,375
down €36,375 (-32.6%), from €111,654 to €75,278
- Receivables within one year +€31,143
up €31,143 (+91.5%), from €34,043 to €65,187
of which Trade receivables: +€24,965
- Financial fixed assets +€10,000
new in 2025: €10,000
- Debts after one year -€28,896
down €28,896 (-37.8%), from €76,462 to €47,566
- Profit (loss) carried forward +€16,335
up €16,335 (+59.6%), from €27,419 to €43,754
- Trade debts +€9,307
up €9,307 (+6146.7%), from €151 to €9,459
- Tax, wage and social debts +€6,167
up €6,167 (+165.2%), from €3,733 to €9,900
- Depreciation +€8,733
up €8,733 (+31.6%), from €27,642 to €36,375
- Gross operating margin -€5,892
down €5,892 (-8.3%), from €70,913 to €65,021
- Taxes -€3,674
down €3,674 (-32.8%), from €11,191 to €7,517
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 | €165,700 | €168,604 | +€2,904 | +1.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €111,654 | €85,278 | -€26,375 | -23.6% |
| Tangible fixed assets | 22/27 | €111,654 | €75,278 | -€36,375 | -32.6% |
| Plant, machinery and equipment | 23 | €47,773 | €34,682 | -€13,092 | -27.4% |
| Furniture and vehicles | 24 | €42,596 | €25,420 | -€17,176 | -40.3% |
| Leasing and similar rights | 25 | €21,284 | €15,177 | -€6,107 | -28.7% |
| Financial fixed assets | 28 | - | €10,000 | +€10,000 | |
| Current assets | 29/58 | €54,047 | €83,326 | +€29,279 | +54.2% |
| Amounts receivable within one year | 40/41 | €34,043 | €65,187 | +€31,143 | +91.5% |
| Trade receivables | 40 | €31,939 | €56,904 | +€24,965 | +78.2% |
| Other amounts receivable | 41 | €2,104 | €8,282 | +€6,178 | +293.6% |
| Cash at bank and in hand | 54/58 | €18,646 | €17,936 | -€710 | -3.8% |
| Deferred charges and accrued income | 490/1 | €1,358 | €203 | -€1,154 | -85.0% |
| Total equity and liabilities | 10/49 | €165,700 | €168,604 | +€2,904 | +1.8% |
| Equity | 10/15 | €53,919 | €70,254 | +€16,335 | +30.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €24,500 | €24,500 | = | 0.0% |
| Distributable reserves | 133 | €24,500 | €24,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,419 | €43,754 | +€16,335 | +59.6% |
| Amounts payable | 17/49 | €111,782 | €98,350 | -€13,431 | -12.0% |
| Amounts payable after more than one year | 17 | €76,462 | €47,566 | -€28,896 | -37.8% |
| Financial debts | 170/4 | €76,462 | €47,566 | -€28,896 | -37.8% |
| Amounts payable within one year | 42/48 | €35,320 | €50,784 | +€15,465 | +43.8% |
| Current portion of amounts payable after more than one year | 42 | €31,436 | €31,426 | -€10 | 0.0% |
| Trade debts | 44 | €151 | €9,459 | +€9,307 | +6146.7% |
| Suppliers | 440/4 | €151 | €9,459 | +€9,307 | +6146.7% |
| Taxes, remuneration and social security | 45 | €3,733 | €9,900 | +€6,167 | +165.2% |
| Taxes | 450/3 | €3,733 | €9,900 | +€6,167 | +165.2% |
| Non-recurring operating income | 76A | - | €2,347 | +€2,347 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,642 | €36,375 | +€8,733 | +31.6% |
| Other operating charges | 640/8 | €213 | €510 | +€297 | +139.9% |
| Gross operating margin | 9900 | €70,913 | €65,021 | -€5,892 | -8.3% |
| Operating profit (loss) | 9901 | €43,058 | €28,135 | -€14,923 | -34.7% |
| Financial charges | 65/66B | €4,594 | €4,283 | -€311 | -6.8% |
| Recurring financial charges | 65 | €4,594 | €4,283 | -€311 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €38,464 | €23,852 | -€14,612 | -38.0% |
| Income taxes | 67/77 | €11,191 | €7,517 | -€3,674 | -32.8% |
| Profit (loss) for the period | 9904 | €27,273 | €16,335 | -€10,938 | -40.1% |
| Profit (loss) for the period to be appropriated | 9905 | €27,273 | €16,335 | -€10,938 | -40.1% |
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 9 October 2026 via checked.be.