C-FI: 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.
C-FI
Largest movements
- Receivables within one year +€94,303
up €94,303 (+55.9%), from €168,697 to €263,001
of which Trade receivables: +€94,303
- Stocks and contracts +€92,254
up €92,254 (+10.4%), from €884,938 to €977,192
- Cash +€18,496
up €18,496 (+16.4%), from €112,982 to €131,478
mainly Trade debts (+€201,070) and Net result for the year (+€32,041)
- Trade debts +€201,070
up €201,070 (+43.4%), from €463,369 to €664,439
- Other debts -€40,111
down €40,111 (-22.8%), from €176,286 to €136,175
- Reserves +€24,044
up €24,044 (+31.3%), from €76,736 to €100,780
of which Distributable reserves: +€24,044
- Turnover +€327,689
up €327,689 (+9.0%), from €3.6m to €4.0m
- Purchases and services +€279,670
up €279,670 (+8.2%), from €3.4m to €3.7m
- Gross operating margin +€42,996
up €42,996 (+18.1%), from €237,756 to €280,752
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 | €1,303,177 | €1,501,165 | +€197,988 | +15.2% |
| Fixed assets | 21/28 | €134,797 | €129,494 | -€5,303 | -3.9% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €130,575 | €125,272 | -€5,303 | -4.1% |
| Land and buildings | 22 | €113,370 | €108,192 | -€5,178 | -4.6% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €2,364 | +€2,364 | |
| Other tangible fixed assets | 26 | €17,205 | €14,716 | -€2,489 | -14.5% |
| Financial fixed assets | 28 | €4,222 | €4,222 | = | 0.0% |
| Current assets | 29/58 | €1,168,380 | €1,371,671 | +€203,292 | +17.4% |
| Stocks and contracts in progress | 3 | €884,938 | €977,192 | +€92,254 | +10.4% |
| Stocks | 30/36 | €884,938 | €977,192 | +€92,254 | +10.4% |
| Amounts receivable within one year | 40/41 | €168,697 | €263,001 | +€94,303 | +55.9% |
| Trade receivables | 40 | €159,368 | €253,671 | +€94,303 | +59.2% |
| Other amounts receivable | 41 | €9,330 | €9,330 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €112,982 | €131,478 | +€18,496 | +16.4% |
| Deferred charges and accrued income | 490/1 | €1,762 | €0 | -€1,762 | -100.0% |
| Total equity and liabilities | 10/49 | €1,303,177 | €1,501,165 | +€197,988 | +15.2% |
| Equity | 10/15 | €545,541 | €577,582 | +€32,041 | +5.9% |
| Contributions | 10/11 | €138,570 | €138,570 | = | 0.0% |
| Capital | 10 | €138,570 | €138,570 | = | 0.0% |
| Issued capital | 100 | €138,570 | €138,570 | = | 0.0% |
| Reserves | 13 | €76,736 | €100,780 | +€24,044 | +31.3% |
| Non-distributable reserves | 130/1 | €5,860 | €5,860 | = | 0.0% |
| Legal reserve | 130 | €5,860 | €5,860 | = | 0.0% |
| Distributable reserves | 133 | €70,876 | €94,920 | +€24,044 | +33.9% |
| Profit (loss) carried forward | 14 | €330,235 | €338,232 | +€7,997 | +2.4% |
| Amounts payable | 17/49 | €757,636 | €923,583 | +€165,947 | +21.9% |
| Amounts payable after more than one year | 17 | €39,770 | €39,770 | = | 0.0% |
| Financial debts | 170/4 | €39,770 | €39,770 | = | 0.0% |
| Amounts payable within one year | 42/48 | €717,866 | €883,814 | +€165,947 | +23.1% |
| Trade debts | 44 | €463,369 | €664,439 | +€201,070 | +43.4% |
| Suppliers | 440/4 | €463,369 | €664,439 | +€201,070 | +43.4% |
| Taxes, remuneration and social security | 45 | €78,211 | €83,200 | +€4,989 | +6.4% |
| Taxes | 450/3 | €73,203 | €50,036 | -€23,167 | -31.6% |
| Remuneration and social security | 454/9 | €5,008 | €33,164 | +€28,156 | +562.2% |
| Other amounts payable | 47/48 | €176,286 | €136,175 | -€40,111 | -22.8% |
| Turnover | 70 | €3,640,941 | €3,968,630 | +€327,689 | +9.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €3,425,811 | €3,705,481 | +€279,670 | +8.2% |
| Remuneration, social security and pensions | 62 | €200,990 | €215,949 | +€14,959 | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,272 | €8,258 | -€14 | -0.2% |
| Other operating charges | 640/8 | €575 | €526 | -€49 | -8.5% |
| Non-recurring operating charges | 66A | €62 | €574 | +€512 | +825.1% |
| Gross operating margin | 9900 | €237,756 | €280,752 | +€42,996 | +18.1% |
| Operating profit (loss) | 9901 | €27,857 | €55,445 | +€27,589 | +99.0% |
| Financial income | 75/76B | €290 | €34 | -€255 | -88.2% |
| Recurring financial income | 75 | €290 | €34 | -€255 | -88.2% |
| Financial charges | 65/66B | €2,606 | €3,164 | +€558 | +21.4% |
| Recurring financial charges | 65 | €2,606 | €3,164 | +€558 | +21.4% |
| Profit (loss) for the period before taxes | 9903 | €25,540 | €52,315 | +€26,775 | +104.8% |
| Income taxes | 67/77 | €10,243 | €20,274 | +€10,031 | +97.9% |
| Profit (loss) for the period | 9904 | €15,297 | €32,041 | +€16,744 | +109.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,297 | €32,041 | +€16,744 | +109.5% |
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 12 October 2026 via checked.be.