C&D: 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&D
Largest movements
- Cash -€158,377
down €158,377 (-51.1%), from €309,653 to €151,276
mainly Current investments (-€100,000) and Receivables within one year (-€49,404)
- Current investments +€100,000
new in 2025: €100,000
- Receivables within one year +€49,404
up €49,404 (+4.0%), from €1.2m to €1.3m
of which Other amounts receivable: +€52,648
- Tangible fixed assets -€42,449
down €42,449 (-2.3%), from €1.8m to €1.8m
of which Land and buildings: -€41,521
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€13,296
down €13,296 (-139.5%), from -€9,534 to -€22,830
- Financial income +€5,921
up €5,921 (+17.9%), from €33,049 to €38,971
- Financial charges +€4,685
up €4,685 (+360.8%), from €1,299 to €5,984
- Taxes +€366
new in 2025: €366
- Other operating charges -€348
down €348 (-8.8%), from €3,943 to €3,595
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 | €3,387,799 | €3,341,512 | -€46,287 | -1.4% |
| Fixed assets | 21/28 | €1,821,955 | €1,779,506 | -€42,449 | -2.3% |
| Tangible fixed assets | 22/27 | €1,821,955 | €1,779,506 | -€42,449 | -2.3% |
| Land and buildings | 22 | €1,818,922 | €1,777,401 | -€41,521 | -2.3% |
| Furniture and vehicles | 24 | €399 | €129 | -€270 | -67.7% |
| Other tangible fixed assets | 26 | €2,634 | €1,976 | -€659 | -25.0% |
| Current assets | 29/58 | €1,565,844 | €1,562,006 | -€3,838 | -0.2% |
| Amounts receivable within one year | 40/41 | €1,247,836 | €1,297,240 | +€49,404 | +4.0% |
| Trade receivables | 40 | €4,162 | €919 | -€3,244 | -77.9% |
| Other amounts receivable | 41 | €1,243,673 | €1,296,321 | +€52,648 | +4.2% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €309,653 | €151,276 | -€158,377 | -51.1% |
| Deferred charges and accrued income | 490/1 | €8,356 | €13,490 | +€5,135 | +61.5% |
| Total equity and liabilities | 10/49 | €3,387,799 | €3,341,512 | -€46,287 | -1.4% |
| Equity | 10/15 | €2,889,477 | €2,850,400 | -€39,077 | -1.4% |
| Contributions | 10/11 | €2,068,600 | €2,068,600 | = | 0.0% |
| Reserves | 13 | €627,240 | €604,985 | -€22,256 | -3.5% |
| Tax-exempt reserves | 132 | €560,882 | €538,626 | -€22,256 | -4.0% |
| Distributable reserves | 133 | €66,359 | €66,359 | = | 0.0% |
| Profit (loss) carried forward | 14 | €193,636 | €176,815 | -€16,821 | -8.7% |
| Provisions and deferred taxes | 16 | €302,967 | €293,619 | -€9,349 | -3.1% |
| Deferred taxes | 168 | €302,967 | €293,619 | -€9,349 | -3.1% |
| Amounts payable | 17/49 | €195,355 | €197,493 | +€2,138 | +1.1% |
| Amounts payable within one year | 42/48 | €194,472 | €191,943 | -€2,528 | -1.3% |
| Trade debts | 44 | €7,878 | €4,466 | -€3,412 | -43.3% |
| Suppliers | 440/4 | €7,878 | €4,466 | -€3,412 | -43.3% |
| Other amounts payable | 47/48 | €186,594 | €187,477 | +€883 | +0.5% |
| Accrued charges and deferred income | 492/3 | €883 | €5,550 | +€4,666 | +528.2% |
| Non-recurring operating income | 76A | €10,750 | - | -€10,750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,379 | €54,621 | +€243 | +0.4% |
| Other operating charges | 640/8 | €3,943 | €3,595 | -€348 | -8.8% |
| Gross operating margin | 9900 | -€9,534 | -€22,830 | -€13,296 | -139.5% |
| Operating profit (loss) | 9901 | -€67,855 | -€81,046 | -€13,191 | -19.4% |
| Financial income | 75/76B | €33,049 | €38,971 | +€5,921 | +17.9% |
| Recurring financial income | 75 | €33,049 | €38,971 | +€5,921 | +17.9% |
| Financial charges | 65/66B | €1,299 | €5,984 | +€4,685 | +360.8% |
| Recurring financial charges | 65 | €1,299 | €5,984 | +€4,685 | +360.8% |
| Profit (loss) for the period before taxes | 9903 | -€36,104 | -€48,059 | -€11,955 | -33.1% |
| Transfer from deferred taxes | 780 | €9,349 | €9,349 | = | 0.0% |
| Income taxes | 67/77 | - | €366 | +€366 | |
| Profit (loss) for the period | 9904 | -€26,756 | -€39,077 | -€12,321 | -46.1% |
| Transfer from tax-exempt reserves | 789 | €22,256 | €22,256 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,500 | -€16,821 | -€12,321 | -273.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.