C.B. WHITE: 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. WHITE
Largest movements
- Receivables within one year -€3,821
down €3,821 (-72.8%), from €5,247 to €1,425
of which Trade receivables: -€4,000
- Intangible fixed assets -€3,056
down €3,056 (-25.0%), from €12,222 to €9,167
- Other debts +€19,054
up €19,054 (+8.9%), from €213,830 to €232,884
- Trade debts -€13,182
down €13,182 (-33.3%), from €39,636 to €26,454
- Short-term financial debts -€5,940
no longer reported in 2025 (was €5,940)
- Tax, wage and social debts -€5,190
down €5,190 (-51.3%), from €10,117 to €4,926
of which Remuneration and social security: -€4,774
- Profit (loss) carried forward -€1,554
down €1,554 (-0.6%), from -€259,839 to -€261,394
- Gross operating margin -€32,346
down €32,346 (-93.4%), from €34,618 to €2,272
- Financial charges -€927
down €927 (-70.6%), from €1,313 to €386
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 | €17,742 | €10,929 | -€6,813 | -38.4% |
| Fixed assets | 21/28 | €12,222 | €9,167 | -€3,056 | -25.0% |
| Intangible fixed assets | 21 | €12,222 | €9,167 | -€3,056 | -25.0% |
| Current assets | 29/58 | €5,520 | €1,762 | -€3,757 | -68.1% |
| Amounts receivable within one year | 40/41 | €5,247 | €1,425 | -€3,821 | -72.8% |
| Trade receivables | 40 | €4,000 | - | -€4,000 | |
| Other amounts receivable | 41 | €1,247 | €1,425 | +€179 | +14.3% |
| Cash at bank and in hand | 54/58 | €273 | €337 | +€64 | +23.4% |
| Total equity and liabilities | 10/49 | €17,742 | €10,929 | -€6,813 | -38.4% |
| Equity | 10/15 | -€251,780 | -€253,335 | -€1,554 | -0.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€259,839 | -€261,394 | -€1,554 | -0.6% |
| Amounts payable | 17/49 | €269,522 | €264,264 | -€5,259 | -2.0% |
| Amounts payable within one year | 42/48 | €269,522 | €264,264 | -€5,259 | -2.0% |
| Financial debts | 43 | €5,940 | - | -€5,940 | |
| Credit institutions | 430/8 | €5,940 | - | -€5,940 | |
| Trade debts | 44 | €39,636 | €26,454 | -€13,182 | -33.3% |
| Suppliers | 440/4 | €39,636 | €26,454 | -€13,182 | -33.3% |
| Taxes, remuneration and social security | 45 | €10,117 | €4,926 | -€5,190 | -51.3% |
| Taxes | 450/3 | €5,342 | €4,926 | -€416 | -7.8% |
| Remuneration and social security | 454/9 | €4,774 | - | -€4,774 | |
| Other amounts payable | 47/48 | €213,830 | €232,884 | +€19,054 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,056 | €3,056 | = | 0.0% |
| Other operating charges | 640/8 | €554 | €384 | -€170 | -30.6% |
| Gross operating margin | 9900 | €34,618 | €2,272 | -€32,346 | -93.4% |
| Operating profit (loss) | 9901 | €31,008 | -€1,168 | -€32,177 | |
| Financial charges | 65/66B | €1,313 | €386 | -€927 | -70.6% |
| Recurring financial charges | 65 | €1,313 | €386 | -€927 | -70.6% |
| Profit (loss) for the period before taxes | 9903 | €29,695 | -€1,554 | -€31,250 | |
| Profit (loss) for the period | 9904 | €29,695 | -€1,554 | -€31,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,695 | -€1,554 | -€31,250 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.