C.G.E.L.: 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.G.E.L.
Largest movements
- Receivables within one year -€16,132
down €16,132 (-17.3%), from €92,981 to €76,849
of which Other amounts receivable: -€13,486
- Tangible fixed assets -€9,229
down €9,229 (-5.0%), from €184,751 to €175,523
of which Land and buildings: -€8,855
- Cash -€6,818
down €6,818 (-98.9%), from €6,892 to €74
mainly Net result for the year (-€29,430) and Tax, wage and social debts (-€29,061)
- Profit (loss) carried forward -€29,430
down €29,430 (-24.8%), from €118,567 to €89,137
- Tax, wage and social debts -€29,061
down €29,061 (-51.1%), from €56,854 to €27,793
- Other debts +€27,391
up €27,391 (+321.7%), from €8,513 to €35,904
- Debts after one year -€3,854
down €3,854 (-24.1%), from €15,990 to €12,136
- Gross operating margin +€8,687
up €8,687 (+39.9%), from -€21,749 to -€13,062
- Financial charges +€1,125
up €1,125 (+80.1%), from €1,405 to €2,530
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 | €285,189 | €252,894 | -€32,295 | -11.3% |
| Fixed assets | 21/28 | €184,751 | €175,523 | -€9,229 | -5.0% |
| Tangible fixed assets | 22/27 | €184,751 | €175,523 | -€9,229 | -5.0% |
| Land and buildings | 22 | €182,605 | €173,750 | -€8,855 | -4.8% |
| Plant, machinery and equipment | 23 | €2,147 | €1,773 | -€374 | -17.4% |
| Current assets | 29/58 | €100,437 | €77,371 | -€23,066 | -23.0% |
| Amounts receivable within one year | 40/41 | €92,981 | €76,849 | -€16,132 | -17.3% |
| Trade receivables | 40 | €2,646 | €0 | -€2,646 | -100.0% |
| Other amounts receivable | 41 | €90,335 | €76,849 | -€13,486 | -14.9% |
| Cash at bank and in hand | 54/58 | €6,892 | €74 | -€6,818 | -98.9% |
| Deferred charges and accrued income | 490/1 | €565 | €448 | -€117 | -20.7% |
| Total equity and liabilities | 10/49 | €285,189 | €252,894 | -€32,295 | -11.3% |
| Equity | 10/15 | €186,737 | €157,308 | -€29,430 | -15.8% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €118,567 | €89,137 | -€29,430 | -24.8% |
| Amounts payable | 17/49 | €98,451 | €95,586 | -€2,865 | -2.9% |
| Amounts payable after more than one year | 17 | €15,990 | €12,136 | -€3,854 | -24.1% |
| Financial debts | 170/4 | €15,990 | €12,136 | -€3,854 | -24.1% |
| Amounts payable within one year | 42/48 | €80,987 | €81,905 | +€918 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €3,708 | €3,854 | +€147 | +4.0% |
| Trade debts | 44 | €11,912 | €14,353 | +€2,441 | +20.5% |
| Suppliers | 440/4 | €11,912 | €14,353 | +€2,441 | +20.5% |
| Taxes, remuneration and social security | 45 | €56,854 | €27,793 | -€29,061 | -51.1% |
| Taxes | 450/3 | €56,854 | €27,793 | -€29,061 | -51.1% |
| Other amounts payable | 47/48 | €8,513 | €35,904 | +€27,391 | +321.7% |
| Accrued charges and deferred income | 492/3 | €1,475 | €1,546 | +€71 | +4.8% |
| Non-recurring operating income | 76A | - | €1,251 | +€1,251 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,229 | €9,229 | = | 0.0% |
| Other operating charges | 640/8 | €3,738 | €3,546 | -€192 | -5.1% |
| Non-recurring operating charges | 66A | €2,840 | €1,063 | -€1,777 | -62.6% |
| Gross operating margin | 9900 | -€21,749 | -€13,062 | +€8,687 | +39.9% |
| Operating profit (loss) | 9901 | -€37,556 | -€26,900 | +€10,656 | +28.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -15.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -15.0% |
| Financial charges | 65/66B | €1,405 | €2,530 | +€1,125 | +80.1% |
| Recurring financial charges | 65 | €1,405 | €2,530 | +€1,125 | +80.1% |
| Profit (loss) for the period before taxes | 9903 | -€38,960 | -€29,430 | +€9,531 | +24.5% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€38,960 | -€29,430 | +€9,531 | +24.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,960 | -€29,430 | +€9,531 | +24.5% |
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 8 October 2026 via checked.be.