C.G.F.: what changed
C.G.F.
Largest movements
- Tangible fixed assets -€5,426
down €5,426 (-20.5%), from €26,417 to €20,991
- Receivables within one year +€2,405
up €2,405 (+264%), from €911 to €3,316
of which Trade receivables: +€2,760
- Cash +€301
new in 2025: €301
mainly Net result for the year (+€9,092) and Depreciation (+€5,426)
- Profit (loss) carried forward +€9,092
up €9,092 (+33.0%), from -€27,551 to -€18,459
- Short-term financial debts -€7,613
down €7,613 (-61.3%), from €12,413 to €4,799
- Other debts -€6,164
down €6,164 (-43.9%), from €14,029 to €7,865
- Trade debts +€1,965
up €1,965 (+26,345%), from €7 to €1,973
- Turnover +€150,376
new in 2025: €150,376
- Purchases and services +€134,700
new in 2025: €134,700
- Other operating charges -€113,966
down €113,966 (-99.0%), from €115,124 to €1,158
- Gross operating margin -€96,709
down €96,709 (-86.1%), from €112,385 to €15,676
- Depreciation +€4,714
up €4,714 (+663%), from €712 to €5,426
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €27,467 | €24,747 | -€2,720 | -9.9% |
| Fixed assets | 21/28 | €26,556 | €21,130 | -€5,426 | -20.4% |
| Tangible fixed assets | 22/27 | €26,417 | €20,991 | -€5,426 | -20.5% |
| Furniture and vehicles | 24 | €26,417 | €20,991 | -€5,426 | -20.5% |
| Financial fixed assets | 28 | €139 | €139 | = | 0.0% |
| Current assets | 29/58 | €911 | €3,617 | +€2,706 | +297% |
| Amounts receivable within one year | 40/41 | €911 | €3,316 | +€2,405 | +264% |
| Trade receivables | 40 | - | €2,760 | +€2,760 | |
| Other amounts receivable | 41 | €911 | €556 | -€355 | -39.0% |
| Cash at bank and in hand | 54/58 | - | €301 | +€301 | |
| Total equity and liabilities | 10/49 | €27,467 | €24,747 | -€2,720 | -9.9% |
| Equity | 10/15 | -€14,491 | -€5,399 | +€9,092 | +62.7% |
| Contributions | 10/11 | €11,200 | €11,200 | = | 0.0% |
| Capital | 10 | €11,200 | - | -€11,200 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €7,400 | - | -€7,400 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | -€27,551 | -€18,459 | +€9,092 | +33.0% |
| Amounts payable | 17/49 | €41,958 | €30,146 | -€11,812 | -28.2% |
| Amounts payable within one year | 42/48 | €41,958 | €30,146 | -€11,812 | -28.2% |
| Financial debts | 43 | €12,413 | €4,799 | -€7,613 | -61.3% |
| Credit institutions | 430/8 | €12,413 | €4,799 | -€7,613 | -61.3% |
| Trade debts | 44 | €7 | €1,973 | +€1,965 | +26,345% |
| Suppliers | 440/4 | €7 | €1,973 | +€1,965 | +26,345% |
| Advances received on contracts in progress | 46 | €3,726 | €3,726 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €11,782 | €11,782 | = | 0.0% |
| Remuneration and social security | 454/9 | €11,782 | €11,782 | = | 0.0% |
| Other amounts payable | 47/48 | €14,029 | €7,865 | -€6,164 | -43.9% |
| Turnover | 70 | - | €150,376 | +€150,376 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €134,700 | +€134,700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €712 | €5,426 | +€4,714 | +663% |
| Other operating charges | 640/8 | €115,124 | €1,158 | -€113,966 | -99.0% |
| Gross operating margin | 9900 | €112,385 | €15,676 | -€96,709 | -86.1% |
| Operating profit (loss) | 9901 | -€3,451 | €9,092 | +€12,543 | |
| Profit (loss) for the period before taxes | 9903 | -€3,451 | €9,092 | +€12,543 | |
| Profit (loss) for the period | 9904 | -€3,451 | €9,092 | +€12,543 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,451 | €9,092 | +€12,543 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.