C.G.P.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.P.A.
Largest movements
- Current investments +€200,000
new in 2025: €200,000
- Deferred charges and accrued income +€161,212
up €161,212 (+86.5%), from €186,365 to €347,577
- Intangible fixed assets -€39,912
down €39,912 (-22.3%), from €178,676 to €138,764
- Cash -€37,921
down €37,921 (-10.6%), from €358,009 to €320,088
mainly Current investments (-€200,000) and Other debts (-€190,198)
- Receivables within one year -€21,716
down €21,716 (-38.3%), from €56,737 to €35,021
of which Other amounts receivable: -€34,888
- Profit (loss) carried forward +€549,167
new in 2025: €549,167
- Other debts -€190,198
down €190,198 (-89.9%), from €211,513 to €21,315
- Reserves -€59,212
down €59,212 (-26.0%), from €228,014 to €168,802
of which Tax-exempt reserves: -€59,212
- Debts after one year -€51,545
down €51,545 (-31.1%), from €165,638 to €114,094
- Tax, wage and social debts +€41,650
up €41,650 (+58.0%), from €71,850 to €113,501
of which Taxes: +€35,461
- Gross operating margin +€375,748
up €375,748 (+46.1%), from €815,913 to €1.2m
- Taxes +€88,660
up €88,660 (+106%), from €83,465 to €172,125
- Staff costs +€54,789
up €54,789 (+12.0%), from €457,332 to €512,121
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 | €837,073 | €1,101,267 | +€264,194 | +31.6% |
| Fixed assets | 21/28 | €235,961 | €198,581 | -€37,380 | -15.8% |
| Intangible fixed assets | 21 | €178,676 | €138,764 | -€39,912 | -22.3% |
| Tangible fixed assets | 22/27 | €57,169 | €59,701 | +€2,532 | +4.4% |
| Land and buildings | 22 | €15,032 | €7,508 | -€7,524 | -50.1% |
| Plant, machinery and equipment | 23 | €1,941 | €2,834 | +€894 | +46.1% |
| Furniture and vehicles | 24 | €37,031 | €48,187 | +€11,156 | +30.1% |
| Other tangible fixed assets | 26 | €3,165 | €1,172 | -€1,993 | -63.0% |
| Financial fixed assets | 28 | €116 | €116 | = | 0.0% |
| Current assets | 29/58 | €601,111 | €902,686 | +€301,574 | +50.2% |
| Amounts receivable within one year | 40/41 | €56,737 | €35,021 | -€21,716 | -38.3% |
| Trade receivables | 40 | €21,610 | €34,782 | +€13,172 | +61.0% |
| Other amounts receivable | 41 | €35,127 | €239 | -€34,888 | -99.3% |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €358,009 | €320,088 | -€37,921 | -10.6% |
| Deferred charges and accrued income | 490/1 | €186,365 | €347,577 | +€161,212 | +86.5% |
| Total equity and liabilities | 10/49 | €837,073 | €1,101,267 | +€264,194 | +31.6% |
| Equity | 10/15 | €241,648 | €731,603 | +€489,955 | +203% |
| Contributions | 10/11 | €13,634 | €13,634 | = | 0.0% |
| Reserves | 13 | €228,014 | €168,802 | -€59,212 | -26.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €135,668 | €76,456 | -€59,212 | -43.6% |
| Distributable reserves | 133 | €90,487 | €90,487 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €549,167 | +€549,167 | |
| Provisions and deferred taxes | 16 | €14,853 | €11,202 | -€3,651 | -24.6% |
| Deferred taxes | 168 | €14,853 | €11,202 | -€3,651 | -24.6% |
| Amounts payable | 17/49 | €580,572 | €358,462 | -€222,110 | -38.3% |
| Amounts payable after more than one year | 17 | €165,638 | €114,094 | -€51,545 | -31.1% |
| Financial debts | 170/4 | €165,638 | €114,094 | -€51,545 | -31.1% |
| Amounts payable within one year | 42/48 | €371,567 | €216,538 | -€155,028 | -41.7% |
| Current portion of amounts payable after more than one year | 42 | €60,041 | €51,544 | -€8,497 | -14.2% |
| Trade debts | 44 | €28,162 | €30,178 | +€2,016 | +7.2% |
| Suppliers | 440/4 | €28,162 | €30,178 | +€2,016 | +7.2% |
| Taxes, remuneration and social security | 45 | €71,850 | €113,501 | +€41,650 | +58.0% |
| Taxes | 450/3 | €12,498 | €47,958 | +€35,461 | +284% |
| Remuneration and social security | 454/9 | €59,353 | €65,542 | +€6,190 | +10.4% |
| Other amounts payable | 47/48 | €211,513 | €21,315 | -€190,198 | -89.9% |
| Accrued charges and deferred income | 492/3 | €43,367 | €27,830 | -€15,537 | -35.8% |
| Remuneration, social security and pensions | 62 | €457,332 | €512,121 | +€54,789 | +12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,559 | €73,031 | -€3,527 | -4.6% |
| Other operating charges | 640/8 | €4,268 | €4,423 | +€155 | +3.6% |
| Gross operating margin | 9900 | €815,913 | €1,191,661 | +€375,748 | +46.1% |
| Operating profit (loss) | 9901 | €277,754 | €602,086 | +€324,332 | +117% |
| Financial income | 75/76B | €2,068 | €5,294 | +€3,226 | +156% |
| Recurring financial income | 75 | €2,068 | €5,294 | +€3,226 | +156% |
| Financial charges | 65/66B | €5,824 | €4,375 | -€1,449 | -24.9% |
| Recurring financial charges | 65 | €5,116 | €4,375 | -€741 | -14.5% |
| Non-recurring financial charges | 66B | €708 | - | -€708 | |
| Profit (loss) for the period before taxes | 9903 | €273,998 | €603,006 | +€329,007 | +120% |
| Transfer from deferred taxes | 780 | €3,675 | €3,651 | -€24 | -0.7% |
| Income taxes | 67/77 | €83,465 | €172,125 | +€88,660 | +106% |
| Profit (loss) for the period | 9904 | €194,209 | €434,532 | +€240,322 | +124% |
| Transfer from tax-exempt reserves | 789 | - | €59,212 | +€59,212 | |
| Profit (loss) for the period to be appropriated | 9905 | €194,209 | €493,743 | +€299,534 | +154% |
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 23 October 2026 via checked.be.