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
- Receivables within one year -€127,298
down €127,298 (-99.6%), from €127,757 to €459
of which Trade receivables: -€127,313
- Cash +€26,042
up €26,042 (+281.2%), from €9,261 to €35,303
mainly Receivables within one year (+€127,298) and Net result for the year (+€73,062)
- Stocks and contracts -€11,914
down €11,914 (-4.0%), from €297,114 to €285,200
- Debts after one year -€105,000
down €105,000 (-9.9%), from €1.1m to €955,000
- Tax, wage and social debts -€76,056
down €76,056 (-93.4%), from €81,389 to €5,333
- Profit (loss) carried forward +€73,062
up €73,062 (+8.9%), from -€823,095 to -€750,033
- Gross operating margin +€79,133
up €79,133 (+1135.9%), from €6,966 to €86,100
- Other operating charges -€4,363
down €4,363 (-96.4%), from €4,528 to €165
- Financial charges -€4,055
down €4,055 (-23.5%), from €17,234 to €13,180
- Financial income +€1,298
up €1,298 (+1309.0%), from €99 to €1,397
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 | €445,138 | €329,332 | -€115,806 | -26.0% |
| Fixed assets | 21/28 | €3,252 | €2,161 | -€1,090 | -33.5% |
| Tangible fixed assets | 22/27 | €3,252 | €2,161 | -€1,090 | -33.5% |
| Plant, machinery and equipment | 23 | €758 | €549 | -€209 | -27.6% |
| Furniture and vehicles | 24 | €2,493 | €1,612 | -€881 | -35.3% |
| Current assets | 29/58 | €441,886 | €327,171 | -€114,715 | -26.0% |
| Stocks and contracts in progress | 3 | €297,114 | €285,200 | -€11,914 | -4.0% |
| Stocks | 30/36 | €297,114 | €285,200 | -€11,914 | -4.0% |
| Amounts receivable within one year | 40/41 | €127,757 | €459 | -€127,298 | -99.6% |
| Trade receivables | 40 | €127,730 | €417 | -€127,313 | -99.7% |
| Other amounts receivable | 41 | €27 | €42 | +€16 | +58.6% |
| Cash at bank and in hand | 54/58 | €9,261 | €35,303 | +€26,042 | +281.2% |
| Deferred charges and accrued income | 490/1 | €7,755 | €6,209 | -€1,546 | -19.9% |
| Total equity and liabilities | 10/49 | €445,138 | €329,332 | -€115,806 | -26.0% |
| Equity | 10/15 | -€723,095 | -€650,033 | +€73,062 | +10.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€823,095 | -€750,033 | +€73,062 | +8.9% |
| Amounts payable | 17/49 | €1,168,233 | €979,365 | -€188,868 | -16.2% |
| Amounts payable after more than one year | 17 | €1,060,000 | €955,000 | -€105,000 | -9.9% |
| Financial debts | 170/4 | €1,060,000 | €955,000 | -€105,000 | -9.9% |
| Amounts payable within one year | 42/48 | €103,383 | €19,421 | -€83,962 | -81.2% |
| Trade debts | 44 | €6,372 | €2,114 | -€4,257 | -66.8% |
| Suppliers | 440/4 | €6,372 | €2,114 | -€4,257 | -66.8% |
| Advances received on contracts in progress | 46 | €1,095 | €483 | -€612 | -55.9% |
| Taxes, remuneration and social security | 45 | €81,389 | €5,333 | -€76,056 | -93.4% |
| Taxes | 450/3 | €81,389 | €5,333 | -€76,056 | -93.4% |
| Other amounts payable | 47/48 | €14,527 | €11,490 | -€3,037 | -20.9% |
| Accrued charges and deferred income | 492/3 | €4,850 | €4,944 | +€94 | +1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,090 | €1,090 | = | 0.0% |
| Other operating charges | 640/8 | €4,528 | €165 | -€4,363 | -96.4% |
| Gross operating margin | 9900 | €6,966 | €86,100 | +€79,133 | +1135.9% |
| Operating profit (loss) | 9901 | €1,348 | €84,845 | +€83,497 | +6193.9% |
| Financial income | 75/76B | €99 | €1,397 | +€1,298 | +1309.0% |
| Recurring financial income | 75 | €99 | €1,397 | +€1,298 | +1309.0% |
| Financial charges | 65/66B | €17,234 | €13,180 | -€4,055 | -23.5% |
| Recurring financial charges | 65 | €17,234 | €13,180 | -€4,055 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | -€15,787 | €73,062 | +€88,849 | |
| Profit (loss) for the period | 9904 | -€15,787 | €73,062 | +€88,849 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,787 | €73,062 | +€88,849 |
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 29 September 2026 via checked.be.