C.B.O.: what changed
Two fiscal 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.
C.B.O.
Largest movements
- Current investments +€51,700
up €51,700 (+17.2%), from €300,000 to €351,700
- Cash -€35,806
down €35,806 (-72.4%), from €49,489 to €13,683
mainly Current investments (-€51,700) and Trade debts (-€1,997)
- Tangible fixed assets -€11,140
down €11,140 (-5.0%), from €223,329 to €212,189
- Profit (loss) carried forward +€7,794
up €7,794 (+3.2%), from €243,812 to €251,606
- Depreciation -€3,009
down €3,009 (-21.3%), from €14,149 to €11,140
- Gross operating margin -€2,571
down €2,571 (-6.9%), from €37,084 to €34,513
- Taxes +€1,883
new in 2025: €1,883
- Financial income +€1,484
up €1,484 (+41.3%), from €3,592 to €5,076
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 | €574,204 | €580,361 | +€6,157 | +1.1% |
| Fixed assets | 21/28 | €223,329 | €212,189 | -€11,140 | -5.0% |
| Tangible fixed assets | 22/27 | €223,329 | €212,189 | -€11,140 | -5.0% |
| Land and buildings | 22 | €223,329 | €212,189 | -€11,140 | -5.0% |
| Current assets | 29/58 | €350,875 | €368,172 | +€17,297 | +4.9% |
| Amounts receivable within one year | 40/41 | €1,386 | €1,078 | -€308 | -22.2% |
| Other amounts receivable | 41 | €1,386 | €1,078 | -€308 | -22.2% |
| Current investments | 50/53 | €300,000 | €351,700 | +€51,700 | +17.2% |
| Cash at bank and in hand | 54/58 | €49,489 | €13,683 | -€35,806 | -72.4% |
| Deferred charges and accrued income | 490/1 | - | €1,711 | +€1,711 | |
| Total equity and liabilities | 10/49 | €574,204 | €580,361 | +€6,157 | +1.1% |
| Equity | 10/15 | €377,657 | €385,451 | +€7,794 | +2.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €72,345 | €72,345 | = | 0.0% |
| Non-distributable reserves | 130/1 | €72,345 | €72,345 | = | 0.0% |
| Legal reserve | 130 | €72,345 | €72,345 | = | 0.0% |
| Profit (loss) carried forward | 14 | €243,812 | €251,606 | +€7,794 | +3.2% |
| Amounts payable | 17/49 | €196,547 | €194,909 | -€1,638 | -0.8% |
| Amounts payable after more than one year | 17 | €175,424 | €175,424 | = | 0.0% |
| Financial debts | 170/4 | €175,424 | €175,424 | = | 0.0% |
| Amounts payable within one year | 42/48 | €7,089 | €5,451 | -€1,638 | -23.1% |
| Trade debts | 44 | €2,089 | €91 | -€1,997 | -95.6% |
| Suppliers | 440/4 | €2,089 | €91 | -€1,997 | -95.6% |
| Taxes, remuneration and social security | 45 | - | €360 | +€360 | |
| Taxes | 450/3 | - | €360 | +€360 | |
| Other amounts payable | 47/48 | €5,000 | €5,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €14,034 | €14,034 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,149 | €11,140 | -€3,009 | -21.3% |
| Other operating charges | 640/8 | €4,287 | €4,299 | +€12 | +0.3% |
| Gross operating margin | 9900 | €37,084 | €34,513 | -€2,571 | -6.9% |
| Operating profit (loss) | 9901 | €18,648 | €19,074 | +€425 | +2.3% |
| Financial income | 75/76B | €3,592 | €5,076 | +€1,484 | +41.3% |
| Recurring financial income | 75 | €3,592 | €5,076 | +€1,484 | +41.3% |
| Financial charges | 65/66B | €14,471 | €14,473 | +€2 | 0.0% |
| Recurring financial charges | 65 | €14,471 | €14,473 | +€2 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €7,769 | €9,677 | +€1,908 | +24.6% |
| Income taxes | 67/77 | - | €1,883 | +€1,883 | |
| Profit (loss) for the period | 9904 | €7,769 | €7,794 | +€25 | +0.3% |
| Profit (loss) for the period to be appropriated | 9905 | €7,769 | €7,794 | +€25 | +0.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.