C.G.E.G.: 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.E.G.
Largest movements
- Cash +€34,373
up €34,373 (+705.2%), from €4,874 to €39,247
mainly Other debts (+€50,046) and Receivables within one year (+€17,068)
- Receivables within one year -€17,068
down €17,068 (-31.0%), from €55,025 to €37,957
of which Other amounts receivable: -€20,244
- Deferred charges and accrued income -€16,942
down €16,942 (-84.6%), from €20,034 to €3,092
- Intangible fixed assets +€14,221
new in 2025: €14,221
- Stocks and contracts +€8,708
up €8,708 (+18.3%), from €47,622 to €56,330
- Other debts +€50,046
up €50,046 (+2147.9%), from €2,330 to €52,376
- Accrued charges and deferred income -€40,192
down €40,192 (-100.0%), from €40,192 to €0
- Tax, wage and social debts +€7,554
up €7,554 (+158.7%), from €4,760 to €12,314
of which Remuneration and social security: +€7,044
- Reserves +€5,614
up €5,614 (+15.1%), from €37,068 to €42,682
of which Distributable reserves: +€5,614
- Gross operating margin +€47,109
up €47,109 (+345.5%), from €13,634 to €60,743
- Write-downs +€42,000
new in 2025: €42,000
- Taxes +€2,690
up €2,690 (+253.3%), from €1,062 to €3,752
- Depreciation -€1,293
down €1,293 (-15.0%), from €8,622 to €7,329
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 | €140,357 | €161,480 | +€21,123 | +15.0% |
| Fixed assets | 21/28 | €12,801 | €24,766 | +€11,965 | +93.5% |
| Intangible fixed assets | 21 | - | €14,221 | +€14,221 | |
| Tangible fixed assets | 22/27 | €12,466 | €10,210 | -€2,256 | -18.1% |
| Plant, machinery and equipment | 23 | €638 | €443 | -€195 | -30.5% |
| Furniture and vehicles | 24 | €11,828 | €9,766 | -€2,062 | -17.4% |
| Financial fixed assets | 28 | €335 | €335 | = | 0.0% |
| Current assets | 29/58 | €127,556 | €136,714 | +€9,159 | +7.2% |
| Stocks and contracts in progress | 3 | €47,622 | €56,330 | +€8,708 | +18.3% |
| Stocks | 30/36 | €47,622 | €56,330 | +€8,708 | +18.3% |
| Amounts receivable within one year | 40/41 | €55,025 | €37,957 | -€17,068 | -31.0% |
| Trade receivables | 40 | €18,530 | €21,706 | +€3,176 | +17.1% |
| Other amounts receivable | 41 | €36,496 | €16,251 | -€20,244 | -55.5% |
| Current investments | 50/53 | - | €87 | +€87 | |
| Cash at bank and in hand | 54/58 | €4,874 | €39,247 | +€34,373 | +705.2% |
| Deferred charges and accrued income | 490/1 | €20,034 | €3,092 | -€16,942 | -84.6% |
| Total equity and liabilities | 10/49 | €140,357 | €161,480 | +€21,123 | +15.0% |
| Equity | 10/15 | €55,660 | €61,274 | +€5,614 | +10.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €37,068 | €42,682 | +€5,614 | +15.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €35,208 | €40,822 | +€5,614 | +15.9% |
| Amounts payable | 17/49 | €84,697 | €100,206 | +€15,509 | +18.3% |
| Amounts payable within one year | 42/48 | €44,505 | €100,206 | +€55,701 | +125.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €36,394 | €35,515 | -€879 | -2.4% |
| Suppliers | 440/4 | €36,394 | €35,515 | -€879 | -2.4% |
| Advances received on contracts in progress | 46 | €1,021 | €0 | -€1,021 | -100.0% |
| Taxes, remuneration and social security | 45 | €4,760 | €12,314 | +€7,554 | +158.7% |
| Taxes | 450/3 | €742 | €1,252 | +€510 | +68.7% |
| Remuneration and social security | 454/9 | €4,018 | €11,062 | +€7,044 | +175.3% |
| Other amounts payable | 47/48 | €2,330 | €52,376 | +€50,046 | +2147.9% |
| Accrued charges and deferred income | 492/3 | €40,192 | €0 | -€40,192 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,622 | €7,329 | -€1,293 | -15.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €42,000 | +€42,000 | |
| Other operating charges | 640/8 | €1,353 | €1,950 | +€597 | +44.1% |
| Gross operating margin | 9900 | €13,634 | €60,743 | +€47,109 | +345.5% |
| Operating profit (loss) | 9901 | €3,659 | €9,464 | +€5,805 | +158.7% |
| Financial income | 75/76B | €333 | €430 | +€97 | +29.0% |
| Recurring financial income | 75 | €333 | €430 | +€97 | +29.0% |
| Financial charges | 65/66B | €989 | €528 | -€461 | -46.6% |
| Recurring financial charges | 65 | €989 | €528 | -€461 | -46.6% |
| Profit (loss) for the period before taxes | 9903 | €3,003 | €9,366 | +€6,363 | +211.9% |
| Income taxes | 67/77 | €1,062 | €3,752 | +€2,690 | +253.3% |
| Profit (loss) for the period | 9904 | €1,941 | €5,614 | +€3,673 | +189.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,941 | €5,614 | +€3,673 | +189.2% |
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 11 October 2026 via checked.be.