C.G.B.: 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.B.
Largest movements
- Current investments +€1.0m
up €1.0m (+50.0%), from €2.0m to €3.0m
- Stocks and contracts +€339,268
up €339,268 (+48.2%), from €703,562 to €1.0m
- Cash -€294,995
down €294,995 (-18.3%), from €1.6m to €1.3m
mainly Current investments (-€1.0m) and Stocks and contracts (-€339,268)
- Receivables within one year -€175,600
down €175,600 (-59.5%), from €295,072 to €119,472
of which Trade receivables: -€219,918
- Reserves +€1.0m
up €1.0m (+21.4%), from €4.7m to €5.7m
- Tax, wage and social debts -€203,123
down €203,123 (-84.3%), from €240,814 to €37,691
- Gross operating margin -€175,793
down €175,793 (-9.8%), from €1.8m to €1.6m
- Financial income +€40,934
up €40,934 (+313%), from €13,059 to €53,993
- Taxes -€38,449
down €38,449 (-6.9%), from €554,412 to €515,964
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,183,842 | €6,019,806 | +€835,964 | +16.1% |
| Fixed assets | 21/28 | €566,226 | €533,203 | -€33,023 | -5.8% |
| Tangible fixed assets | 22/27 | €566,226 | €533,203 | -€33,023 | -5.8% |
| Land and buildings | 22 | €428,896 | €419,323 | -€9,572 | -2.2% |
| Plant, machinery and equipment | 23 | €121,233 | €104,883 | -€16,350 | -13.5% |
| Furniture and vehicles | 24 | €16,097 | €8,997 | -€7,100 | -44.1% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €4,617,617 | €5,486,603 | +€868,987 | +18.8% |
| Stocks and contracts in progress | 3 | €703,562 | €1,042,830 | +€339,268 | +48.2% |
| Stocks | 30/36 | €703,562 | €1,042,830 | +€339,268 | +48.2% |
| Amounts receivable within one year | 40/41 | €295,072 | €119,472 | -€175,600 | -59.5% |
| Trade receivables | 40 | €289,176 | €69,258 | -€219,918 | -76.1% |
| Other amounts receivable | 41 | €5,896 | €50,214 | +€44,318 | +752% |
| Current investments | 50/53 | €2,000,000 | €3,000,000 | +€1.0m | +50.0% |
| Cash at bank and in hand | 54/58 | €1,615,983 | €1,320,988 | -€294,995 | -18.3% |
| Deferred charges and accrued income | 490/1 | €3,000 | €3,314 | +€314 | +10.5% |
| Total equity and liabilities | 10/49 | €5,183,842 | €6,019,806 | +€835,964 | +16.1% |
| Equity | 10/15 | €4,822,433 | €5,831,144 | +€1.0m | +20.9% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €4,722,433 | €5,731,144 | +€1.0m | +21.4% |
| Distributable reserves | 133 | €4,722,433 | €5,731,144 | +€1.0m | +21.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €361,409 | €188,662 | -€172,747 | -47.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €361,409 | €147,905 | -€213,505 | -59.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €112,352 | €69,263 | -€43,089 | -38.4% |
| Suppliers | 440/4 | €112,352 | €69,263 | -€43,089 | -38.4% |
| Taxes, remuneration and social security | 45 | €240,814 | €37,691 | -€203,123 | -84.3% |
| Taxes | 450/3 | €240,814 | €37,691 | -€203,123 | -84.3% |
| Other amounts payable | 47/48 | €8,244 | €40,951 | +€32,707 | +397% |
| Accrued charges and deferred income | 492/3 | - | €40,758 | +€40,758 | |
| Non-recurring operating income | 76A | €31,700 | €0 | -€31,700 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,246 | €33,023 | -€3,223 | -8.9% |
| Other operating charges | 640/8 | €13,812 | €12,907 | -€904 | -6.5% |
| Non-recurring operating charges | 66A | €2,150 | €0 | -€2,150 | -100% |
| Gross operating margin | 9900 | €1,792,134 | €1,616,341 | -€175,793 | -9.8% |
| Operating profit (loss) | 9901 | €1,739,927 | €1,570,411 | -€169,516 | -9.7% |
| Financial income | 75/76B | €13,059 | €53,993 | +€40,934 | +313% |
| Recurring financial income | 75 | €13,059 | €53,993 | +€40,934 | +313% |
| Financial charges | 65/66B | €10,957 | €2,964 | -€7,993 | -72.9% |
| Recurring financial charges | 65 | €10,957 | €2,964 | -€7,993 | -72.9% |
| Profit (loss) for the period before taxes | 9903 | €1,742,028 | €1,621,440 | -€120,588 | -6.9% |
| Income taxes | 67/77 | €554,412 | €515,964 | -€38,449 | -6.9% |
| Profit (loss) for the period | 9904 | €1,187,616 | €1,105,477 | -€82,139 | -6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,187,616 | €1,105,477 | -€82,139 | -6.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.