C&L MANAGEMENT: 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&L MANAGEMENT
Largest movements
- Receivables within one year +€34,827
up €34,827 (+16.2%), from €214,781 to €249,607
of which Other amounts receivable: +€42,327
- Cash +€18,386
up €18,386 (+161%), from €11,424 to €29,810
mainly Net result for the year (+€46,074) and Other debts (+€24,949)
- Current portion of long-term debt -€49,627
down €49,627 (-69.4%), from €71,506 to €21,879
- Reserves +€46,000
up €46,000 (+18.9%), from €243,600 to €289,600
of which Distributable reserves: +€46,000
- Other debts +€24,949
up €24,949 (+4.5%), from €550,599 to €575,548
- Staff costs +€7,982
up €7,982 (+11.5%), from €69,134 to €77,116
- Financial charges +€5,373
up €5,373 (+63.5%), from €8,456 to €13,829
- Depreciation -€4,703
down €4,703 (-42.5%), from €11,062 to €6,359
- Financial income -€4,243
no longer reported in 2025 (was €4,243)
- Gross operating margin -€2,553
down €2,553 (-1.5%), from €169,172 to €166,618
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 | €1,238,238 | €1,291,303 | +€53,065 | +4.3% |
| Fixed assets | 21/28 | €1,012,033 | €1,011,886 | -€148 | 0.0% |
| Tangible fixed assets | 22/27 | €11,873 | €11,886 | +€12 | +0.1% |
| Furniture and vehicles | 24 | €9,562 | €10,245 | +€683 | +7.1% |
| Other tangible fixed assets | 26 | €2,311 | €1,641 | -€670 | -29.0% |
| Financial fixed assets | 28 | €1,000,160 | €1,000,000 | -€160 | 0.0% |
| Current assets | 29/58 | €226,204 | €279,417 | +€53,213 | +23.5% |
| Amounts receivable within one year | 40/41 | €214,781 | €249,607 | +€34,827 | +16.2% |
| Trade receivables | 40 | €84,000 | €76,500 | -€7,500 | -8.9% |
| Other amounts receivable | 41 | €130,781 | €173,107 | +€42,327 | +32.4% |
| Cash at bank and in hand | 54/58 | €11,424 | €29,810 | +€18,386 | +161% |
| Total equity and liabilities | 10/49 | €1,238,238 | €1,291,303 | +€53,065 | +4.3% |
| Equity | 10/15 | €512,233 | €558,307 | +€46,074 | +9.0% |
| Contributions | 10/11 | €268,600 | €268,600 | = | 0.0% |
| Reserves | 13 | €243,600 | €289,600 | +€46,000 | +18.9% |
| Non-distributable reserves | 130/1 | €28,600 | €28,600 | = | 0.0% |
| Reserves not available under the articles | 1311 | €28,600 | €28,600 | = | 0.0% |
| Distributable reserves | 133 | €215,000 | €261,000 | +€46,000 | +21.4% |
| Profit (loss) carried forward | 14 | €33 | €107 | +€74 | +229% |
| Amounts payable | 17/49 | €726,005 | €732,996 | +€6,991 | +1.0% |
| Amounts payable after more than one year | 17 | €33,245 | €43,690 | +€10,445 | +31.4% |
| Financial debts | 170/4 | €33,245 | €43,690 | +€10,445 | +31.4% |
| Amounts payable within one year | 42/48 | €692,760 | €689,305 | -€3,455 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €71,506 | €21,879 | -€49,627 | -69.4% |
| Financial debts | 43 | - | €4,930 | +€4,930 | |
| Other loans | 439 | - | €4,930 | +€4,930 | |
| Trade debts | 44 | €23,303 | €28,484 | +€5,181 | +22.2% |
| Suppliers | 440/4 | €23,303 | €28,484 | +€5,181 | +22.2% |
| Taxes, remuneration and social security | 45 | €47,353 | €58,465 | +€11,111 | +23.5% |
| Taxes | 450/3 | €38,891 | €49,357 | +€10,466 | +26.9% |
| Remuneration and social security | 454/9 | €8,462 | €9,108 | +€646 | +7.6% |
| Other amounts payable | 47/48 | €550,599 | €575,548 | +€24,949 | +4.5% |
| Remuneration, social security and pensions | 62 | €69,134 | €77,116 | +€7,982 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,062 | €6,359 | -€4,703 | -42.5% |
| Other operating charges | 640/8 | €4,401 | €2,951 | -€1,449 | -32.9% |
| Gross operating margin | 9900 | €169,172 | €166,618 | -€2,553 | -1.5% |
| Operating profit (loss) | 9901 | €84,575 | €80,192 | -€4,383 | -5.2% |
| Financial income | 75/76B | €4,243 | - | -€4,243 | |
| Recurring financial income | 75 | €4,243 | - | -€4,243 | |
| Financial charges | 65/66B | €8,456 | €13,829 | +€5,373 | +63.5% |
| Recurring financial charges | 65 | €8,456 | €13,829 | +€5,373 | +63.5% |
| Profit (loss) for the period before taxes | 9903 | €80,362 | €66,363 | -€13,999 | -17.4% |
| Income taxes | 67/77 | €19,843 | €20,289 | +€445 | +2.2% |
| Profit (loss) for the period | 9904 | €60,519 | €46,074 | -€14,445 | -23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €60,519 | €46,074 | -€14,445 | -23.9% |
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 19 October 2026 via checked.be.