C&I UPGRADE: 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&I UPGRADE
Largest movements
- Receivables within one year +€69,237
up €69,237 (+102%), from €67,911 to €137,147
of which Trade receivables: +€68,971
- Cash -€51,326
down €51,326 (-67.6%), from €75,873 to €24,547
mainly Receivables within one year (-€69,237) and Contributions, distributions and other (-€55,000)
- Trade debts +€63,114
up €63,114 (+308%), from €20,496 to €83,610
- Tax, wage and social debts -€23,113
down €23,113 (-54.7%), from €42,221 to €19,108
- Profit (loss) carried forward -€17,057
down €17,057 (-82.6%), from €20,649 to €3,592
- Other debts -€7,394
down €7,394 (-11.6%), from €63,912 to €56,518
- Turnover -€422,617
no longer reported in 2025 (was €422,617)
- Purchases and services -€353,407
no longer reported in 2025 (was €353,407)
- Gross operating margin -€13,109
down €13,109 (-18.9%), from €69,210 to €56,100
- Other operating charges -€5,107
down €5,107 (-71.8%), from €7,117 to €2,010
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 | €152,778 | €168,328 | +€15,550 | +10.2% |
| Fixed assets | 21/28 | €6,578 | €5,166 | -€1,412 | -21.5% |
| Tangible fixed assets | 22/27 | €6,578 | €5,166 | -€1,412 | -21.5% |
| Furniture and vehicles | 24 | €6,578 | €5,166 | -€1,412 | -21.5% |
| Current assets | 29/58 | €146,199 | €163,161 | +€16,962 | +11.6% |
| Amounts receivable within one year | 40/41 | €67,911 | €137,147 | +€69,237 | +102% |
| Trade receivables | 40 | €67,911 | €136,882 | +€68,971 | +102% |
| Other amounts receivable | 41 | - | €266 | +€266 | |
| Cash at bank and in hand | 54/58 | €75,873 | €24,547 | -€51,326 | -67.6% |
| Deferred charges and accrued income | 490/1 | €2,416 | €1,467 | -€949 | -39.3% |
| Total equity and liabilities | 10/49 | €152,778 | €168,328 | +€15,550 | +10.2% |
| Equity | 10/15 | €26,149 | €9,092 | -€17,057 | -65.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €500 | €500 | = | 0.0% |
| Distributable reserves | 133 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,649 | €3,592 | -€17,057 | -82.6% |
| Amounts payable | 17/49 | €126,629 | €159,235 | +€32,607 | +25.7% |
| Amounts payable within one year | 42/48 | €126,629 | €159,235 | +€32,607 | +25.7% |
| Trade debts | 44 | €20,496 | €83,610 | +€63,114 | +308% |
| Suppliers | 440/4 | €20,496 | €83,610 | +€63,114 | +308% |
| Taxes, remuneration and social security | 45 | €42,221 | €19,108 | -€23,113 | -54.7% |
| Taxes | 450/3 | €42,221 | €19,108 | -€23,113 | -54.7% |
| Other amounts payable | 47/48 | €63,912 | €56,518 | -€7,394 | -11.6% |
| Turnover | 70 | €422,617 | - | -€422,617 | |
| Goods, raw materials, services and sundry goods | 60/61 | €353,407 | - | -€353,407 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,066 | €3,064 | -€2 | -0.1% |
| Other operating charges | 640/8 | €7,117 | €2,010 | -€5,107 | -71.8% |
| Gross operating margin | 9900 | €69,210 | €56,100 | -€13,109 | -18.9% |
| Operating profit (loss) | 9901 | €59,027 | €51,027 | -€8,000 | -13.6% |
| Financial income | 75/76B | €104 | €14 | -€90 | -86.3% |
| Recurring financial income | 75 | €104 | €14 | -€90 | -86.3% |
| Financial charges | 65/66B | €3,124 | €1,364 | -€1,760 | -56.4% |
| Recurring financial charges | 65 | €3,124 | €1,364 | -€1,760 | -56.4% |
| Profit (loss) for the period before taxes | 9903 | €56,007 | €49,678 | -€6,329 | -11.3% |
| Income taxes | 67/77 | €13,785 | €11,734 | -€2,051 | -14.9% |
| Profit (loss) for the period | 9904 | €42,222 | €37,943 | -€4,279 | -10.1% |
| Profit (loss) for the period to be appropriated | 9905 | €42,222 | €37,943 | -€4,279 | -10.1% |
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 25 October 2026 via checked.be.