C.GEN: 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.GEN
Largest movements
- Current investments -€9.0m
down €9.0m (-34.0%), from €26.3m to €17.4m
- Financial fixed assets +€2.4m
up €2.4m (+3.4%), from €70.7m to €73.2m
- Other debts -€5.0m
no longer reported in 2025 (was €5.0m)
- Profit (loss) carried forward -€1.4m
down €1.4m (-19.2%), from €7.3m to €5.9m
- Financial income +€1.1m
up €1.1m (+76.6%), from €1.5m to €2.6m
- Financial charges -€937,694
down €937,694 (-22.4%), from €4.2m to €3.2m
of which Non-recurring financial charges: -€937,373
- Write-downs +€548,698
new in 2025: €548,698
- Taxes +€533,360
up €533,360, from -€375,147 to €158,212
- Gross operating margin -€3,490
down €3,490 (-30.8%), from -€11,315 to -€14,805
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 | €98,767,043 | €92,370,014 | -€6.4m | -6.5% |
| Fixed assets | 21/28 | €70,748,995 | €73,189,032 | +€2.4m | +3.4% |
| Financial fixed assets | 28 | €70,748,995 | €73,189,032 | +€2.4m | +3.4% |
| Current assets | 29/58 | €28,018,048 | €19,180,981 | -€8.8m | -31.5% |
| Amounts receivable after more than one year | 29 | €80,000 | €755,000 | +€675,000 | +843.8% |
| Other amounts receivable | 291 | €80,000 | €755,000 | +€675,000 | +843.8% |
| Amounts receivable within one year | 40/41 | €1,569,976 | €998,164 | -€571,812 | -36.4% |
| Trade receivables | 40 | €1,636 | €296,712 | +€295,076 | +18038.9% |
| Other amounts receivable | 41 | €1,568,340 | €701,452 | -€866,888 | -55.3% |
| Current investments | 50/53 | €26,347,641 | €17,391,912 | -€9.0m | -34.0% |
| Cash at bank and in hand | 54/58 | €6,150 | €9,343 | +€3,193 | +51.9% |
| Deferred charges and accrued income | 490/1 | €14,283 | €26,563 | +€12,280 | +86.0% |
| Total equity and liabilities | 10/49 | €98,767,043 | €92,370,014 | -€6.4m | -6.5% |
| Equity | 10/15 | €93,762,043 | €92,370,014 | -€1.4m | -1.5% |
| Contributions | 10/11 | €85,442,047 | €85,442,047 | = | 0.0% |
| Capital | 10 | €59,575,000 | €59,575,000 | = | 0.0% |
| Issued capital | 100 | €59,575,000 | €59,575,000 | = | 0.0% |
| Outside capital | 11 | €25,867,047 | €25,867,047 | = | 0.0% |
| Share premium | 1100/10 | €25,867,047 | €25,867,047 | = | 0.0% |
| Reserves | 13 | €1,055,054 | €1,055,054 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,055,054 | €1,055,054 | = | 0.0% |
| Legal reserve | 130 | €1,055,054 | €1,055,054 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,264,942 | €5,872,913 | -€1.4m | -19.2% |
| Amounts payable | 17/49 | €5,005,000 | - | -€5.0m | |
| Amounts payable within one year | 42/48 | €5,005,000 | - | -€5.0m | |
| Other amounts payable | 47/48 | €5,005,000 | - | -€5.0m | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €548,698 | +€548,698 | |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | -€11,315 | -€14,805 | -€3,490 | -30.8% |
| Operating profit (loss) | 9901 | -€12,282 | -€564,501 | -€552,219 | -4496.2% |
| Financial income | 75/76B | €1,456,096 | €2,571,433 | +€1.1m | +76.6% |
| Recurring financial income | 75 | €1,456,096 | €2,571,433 | +€1.1m | +76.6% |
| Financial charges | 65/66B | €4,178,442 | €3,240,749 | -€937,694 | -22.4% |
| Recurring financial charges | 65 | €1,070 | €749 | -€321 | -30.0% |
| Non-recurring financial charges | 66B | €4,177,372 | €3,240,000 | -€937,373 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | -€2,734,628 | -€1,233,817 | +€1.5m | +54.9% |
| Income taxes | 67/77 | -€375,147 | €158,212 | +€533,360 | |
| Profit (loss) for the period | 9904 | -€2,359,480 | -€1,392,030 | +€967,451 | +41.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,359,480 | -€1,392,030 | +€967,451 | +41.0% |
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 4 October 2026 via checked.be.