C. GROUP: 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.
What changed
C. GROUP
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€774,013
2024 · €549,937+€224,075
Equity
€2.6m
2024 · €1.9m+€631,013
Cash
€642,793
2024 · €602,953+€39,841
Balance sheet total
€3.3m
2024 · €2.5m+€755,717
Largest movements
Assets
- Receivables after one year +€461,580
up €461,580 (+39.0%), from €1.2m to €1.6m
- Receivables within one year +€381,679
up €381,679 (+164%), from €233,245 to €614,924
of which Trade receivables: +€238,249
- Tangible fixed assets -€71,557
down €71,557 (-26.1%), from €274,199 to €202,643
of which Furniture and vehicles: -€71,055
- Deferred charges and accrued income -€49,565
down €49,565 (-77.3%), from €64,137 to €14,572
- Cash +€39,841
up €39,841 (+6.6%), from €602,953 to €642,793
mainly Net result for the year (+€774,013) and Trade debts (+€173,285)
Equity and liabilities
- Reserves +€631,013
up €631,013 (+33.1%), from €1.9m to €2.5m
- Trade debts +€173,285
up €173,285 (+488%), from €35,502 to €208,786
- Debts after one year -€143,273
down €143,273 (-33.9%), from €422,582 to €279,309
of which Other amounts payable: -€100,000
- Other debts +€78,226
new in 2025: €78,226
Income statement
- Turnover +€870,776
new in 2025: €870,776
- Other operating income +€709,310
new in 2025: €709,310
- Gross operating margin -€558,453
no longer reported in 2025 (was €558,453)
- Other operating charges +€448,878
up €448,878 (+3,617%), from €12,409 to €461,287
- Services and other goods +€364,846
new in 2025: €364,846
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.
Result 2024
€549,937
Turnover
+€870,776
Other operating income
+€709,310
Goods and materials
-€55,974
Services and other goods
-€364,846
Staff costs
-€109,089
Depreciation
-€8,429
Other operating charges
-€448,878
Other operating items
-€558,453
Financial income
+€198,550
Financial charges
+€1,058
Taxes
-€9,948
Result 2025
€774,013
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€328,636
Investment
-€2,743
Financing
-€286,053
Cash 2024
€602,953
From operations (derived)
+€328,636
Net result for the year
+€774,013
Depreciation
+€80,560
Receivables after one year
-€461,580
Receivables within one year
-€381,679
Deferred charges and accrued income
+€49,565
Trade debts
+€173,285
Tax, wage and social debts
+€15,964
Other debts
+€78,226
Accrued charges and deferred income
+€283
Investment (derived)
-€2,743
Investment in fixed assets (net)
-€2,743
Financing
-€286,053
Debts after one year
-€143,273
Current portion of long-term debt
+€1,887
Short-term financial debts
-€1,667
Contributions, distributions and other
-€143,000
Cash 2025
€642,793
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,528,744 | €3,284,461 | +€755,717 | +29.9% |
| Fixed assets | 21/28 | €430,094 | €352,278 | -€77,817 | -18.1% |
| Intangible fixed assets | 21 | €11,065 | €4,805 | -€6,260 | -56.6% |
| Tangible fixed assets | 22/27 | €274,199 | €202,643 | -€71,557 | -26.1% |
| Plant, machinery and equipment | 23 | €1,496 | €995 | -€501 | -33.5% |
| Furniture and vehicles | 24 | €272,703 | €201,648 | -€71,055 | -26.1% |
| Financial fixed assets | 28 | €144,830 | €144,830 | = | 0.0% |
| Affiliated companies | 280/1 | - | €144,830 | +€144,830 | |
| Participating interests | 280 | - | €144,830 | +€144,830 | |
| Current assets | 29/58 | €2,098,650 | €2,932,184 | +€833,534 | +39.7% |
| Amounts receivable after more than one year | 29 | €1,182,515 | €1,644,095 | +€461,580 | +39.0% |
| Other amounts receivable | 291 | €1,182,515 | €1,644,095 | +€461,580 | +39.0% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €233,245 | €614,924 | +€381,679 | +164% |
| Trade receivables | 40 | €67,557 | €305,805 | +€238,249 | +353% |
| Other amounts receivable | 41 | €165,688 | €309,118 | +€143,430 | +86.6% |
| Current investments | 50/53 | €15,800 | €15,800 | = | 0.0% |
| Other investments | 51/53 | - | €15,800 | +€15,800 | |
| Cash at bank and in hand | 54/58 | €602,953 | €642,793 | +€39,841 | +6.6% |
| Deferred charges and accrued income | 490/1 | €64,137 | €14,572 | -€49,565 | -77.3% |
| Total equity and liabilities | 10/49 | €2,528,744 | €3,284,461 | +€755,717 | +29.9% |
| Equity | 10/15 | €1,926,741 | €2,557,754 | +€631,013 | +32.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,906,741 | €2,537,754 | +€631,013 | +33.1% |
| Distributable reserves | 133 | €1,906,741 | €2,537,754 | +€631,013 | +33.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €602,002 | €726,707 | +€124,705 | +20.7% |
| Amounts payable after more than one year | 17 | €422,582 | €279,309 | -€143,273 | -33.9% |
| Financial debts | 170/4 | €122,582 | €79,309 | -€43,273 | -35.3% |
| Credit institutions | 173 | - | €79,309 | +€79,309 | |
| Other amounts payable | 178/9 | €300,000 | €200,000 | -€100,000 | -33.3% |
| Amounts payable within one year | 42/48 | €179,421 | €447,115 | +€267,695 | +149% |
| Current portion of amounts payable after more than one year | 42 | €41,340 | €43,227 | +€1,887 | +4.6% |
| Financial debts | 43 | €1,667 | €0 | -€1,667 | -100% |
| Credit institutions | 430/8 | €1,667 | €0 | -€1,667 | -100% |
| Trade debts | 44 | €35,502 | €208,786 | +€173,285 | +488% |
| Suppliers | 440/4 | €35,502 | €208,786 | +€173,285 | +488% |
| Taxes, remuneration and social security | 45 | €100,913 | €116,876 | +€15,964 | +15.8% |
| Taxes | 450/3 | €20,076 | €24,808 | +€4,733 | +23.6% |
| Remuneration and social security | 454/9 | €80,837 | €92,068 | +€11,231 | +13.9% |
| Other amounts payable | 47/48 | - | €78,226 | +€78,226 | |
| Accrued charges and deferred income | 492/3 | €0 | €283 | +€283 | |
| Operating income | 70/76A | - | €1,580,086 | +€1.6m | |
| Turnover | 70 | - | €870,776 | +€870,776 | |
| Other operating income | 74 | - | €709,310 | +€709,310 | |
| Non-recurring operating income | 76A | €1,721 | €0 | -€1,721 | -100% |
| Operating charges | 60/66A | - | €1,527,551 | +€1.5m | |
| Goods for resale, raw materials and consumables | 60 | - | €55,974 | +€55,974 | |
| Purchases | 600/8 | - | €55,974 | +€55,974 | |
| Services and other goods | 61 | - | €364,846 | +€364,846 | |
| Remuneration, social security and pensions | 62 | €455,795 | €564,884 | +€109,089 | +23.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,130 | €80,560 | +€8,429 | +11.7% |
| Other operating charges | 640/8 | €12,409 | €461,287 | +€448,878 | +3,617% |
| Gross operating margin | 9900 | €558,453 | - | -€558,453 | |
| Operating profit (loss) | 9901 | €18,119 | €52,535 | +€34,415 | +190% |
| Financial income | 75/76B | €554,405 | €752,956 | +€198,550 | +35.8% |
| Recurring financial income | 75 | €554,405 | €752,956 | +€198,550 | +35.8% |
| Income from financial fixed assets | 750 | - | €750,000 | +€750,000 | |
| Income from current assets | 751 | - | €2,950 | +€2,950 | |
| Other financial income | 752/9 | - | €6 | +€6 | |
| Financial charges | 65/66B | €12,517 | €11,459 | -€1,058 | -8.5% |
| Recurring financial charges | 65 | €11,710 | €11,459 | -€251 | -2.1% |
| Debt charges | 650 | - | €8,610 | +€8,610 | |
| Other financial charges | 652/9 | - | €2,849 | +€2,849 | |
| Non-recurring financial charges | 66B | €807 | €0 | -€807 | -100% |
| Profit (loss) for the period before taxes | 9903 | €560,008 | €794,031 | +€234,024 | +41.8% |
| Income taxes | 67/77 | €10,070 | €20,019 | +€9,948 | +98.8% |
| Taxes | 670/3 | - | €20,019 | +€20,019 | |
| Profit (loss) for the period | 9904 | €549,937 | €774,013 | +€224,075 | +40.7% |
| Profit (loss) for the period to be appropriated | 9905 | €549,937 | €774,013 | +€224,075 | +40.7% |
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.