C.G.A.: 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.G.A.
Largest movements
- Tangible fixed assets +€505,816
up €505,816 (+44.8%), from €1.1m to €1.6m
of which Land and buildings: +€448,866
- Receivables within one year -€18,000
down €18,000 (-99.6%), from €18,080 to €80
- Current portion of long-term debt +€273,502
up €273,502 (+468%), from €58,392 to €331,894
- Debts after one year +€152,399
up €152,399 (+51.7%), from €294,893 to €447,293
- Other debts +€151,637
up €151,637 (+85.6%), from €177,238 to €328,875
- Profit (loss) carried forward -€91,568
down €91,568 (-32.7%), from €280,109 to €188,541
- Other operating charges +€68,217
up €68,217 (+454%), from €15,029 to €83,245
- Gross operating margin -€28,637
down €28,637 (-21.1%), from €135,926 to €107,289
- Financial charges +€15,684
up €15,684 (+122%), from €12,902 to €28,586
- Taxes -€11,006
down €11,006 (-97.1%), from €11,337 to €332
- Depreciation +€9,466
up €9,466 (+10.8%), from €87,251 to €96,717
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.
Derived cash bridge
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 | €1,165,364 | €1,643,445 | +€478,081 | +41.0% |
| Fixed assets | 21/28 | €1,129,108 | €1,634,924 | +€505,816 | +44.8% |
| Tangible fixed assets | 22/27 | €1,128,475 | €1,634,291 | +€505,816 | +44.8% |
| Land and buildings | 22 | €739,561 | €1,188,427 | +€448,866 | +60.7% |
| Plant, machinery and equipment | 23 | €378,856 | €432,610 | +€53,753 | +14.2% |
| Furniture and vehicles | 24 | €4,320 | €13,254 | +€8,934 | +207% |
| Other tangible fixed assets | 26 | €5,738 | - | -€5,738 | |
| Financial fixed assets | 28 | €633 | €633 | = | 0.0% |
| Current assets | 29/58 | €36,256 | €8,521 | -€27,735 | -76.5% |
| Amounts receivable within one year | 40/41 | €18,080 | €80 | -€18,000 | -99.6% |
| Other amounts receivable | 41 | €18,080 | €80 | -€18,000 | -99.6% |
| Cash at bank and in hand | 54/58 | €15,446 | €7,275 | -€8,171 | -52.9% |
| Deferred charges and accrued income | 490/1 | €2,730 | €1,167 | -€1,564 | -57.3% |
| Total equity and liabilities | 10/49 | €1,165,364 | €1,643,445 | +€478,081 | +41.0% |
| Equity | 10/15 | €534,002 | €435,438 | -€98,564 | -18.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €247,693 | €240,697 | -€6,995 | -2.8% |
| Tax-exempt reserves | 132 | €160,242 | €153,247 | -€6,995 | -4.4% |
| Distributable reserves | 133 | €87,451 | €87,451 | = | 0.0% |
| Profit (loss) carried forward | 14 | €280,109 | €188,541 | -€91,568 | -32.7% |
| Provisions and deferred taxes | 16 | €59,057 | €56,030 | -€3,027 | -5.1% |
| Deferred taxes | 168 | €59,057 | €56,030 | -€3,027 | -5.1% |
| Amounts payable | 17/49 | €572,306 | €1,151,977 | +€579,672 | +101% |
| Amounts payable after more than one year | 17 | €294,893 | €447,293 | +€152,399 | +51.7% |
| Financial debts | 170/4 | €294,893 | €447,293 | +€152,399 | +51.7% |
| Amounts payable within one year | 42/48 | €277,413 | €704,685 | +€427,272 | +154% |
| Current portion of amounts payable after more than one year | 42 | €58,392 | €331,894 | +€273,502 | +468% |
| Financial debts | 43 | €25,000 | €25,000 | = | 0.0% |
| Credit institutions | 430/8 | €25,000 | €25,000 | = | 0.0% |
| Trade debts | 44 | €4,202 | €10,612 | +€6,411 | +153% |
| Suppliers | 440/4 | €4,202 | €10,612 | +€6,411 | +153% |
| Taxes, remuneration and social security | 45 | €12,582 | €8,304 | -€4,278 | -34.0% |
| Taxes | 450/3 | €12,582 | €8,304 | -€4,278 | -34.0% |
| Other amounts payable | 47/48 | €177,238 | €328,875 | +€151,637 | +85.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,251 | €96,717 | +€9,466 | +10.8% |
| Other operating charges | 640/8 | €15,029 | €83,245 | +€68,217 | +454% |
| Gross operating margin | 9900 | €135,926 | €107,289 | -€28,637 | -21.1% |
| Operating profit (loss) | 9901 | €33,646 | -€72,673 | -€106,319 | |
| Financial income | 75/76B | €2 | €0 | -€2 | -99.5% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -99.5% |
| Financial charges | 65/66B | €12,902 | €28,586 | +€15,684 | +122% |
| Recurring financial charges | 65 | €12,902 | €28,586 | +€15,684 | +122% |
| Profit (loss) for the period before taxes | 9903 | €20,746 | -€101,259 | -€122,005 | |
| Transfer from deferred taxes | 780 | €9,124 | €6,995 | -€2,128 | -23.3% |
| Income taxes | 67/77 | €11,337 | €332 | -€11,006 | -97.1% |
| Profit (loss) for the period | 9904 | €18,533 | -€94,595 | -€113,128 | |
| Transfer from tax-exempt reserves | 789 | €3,736 | €3,027 | -€709 | -19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,269 | -€91,568 | -€113,837 |
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 25 October 2026 via checked.be.