C|N|C: 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|N|C
Largest movements
- Receivables within one year +€174,253
up €174,253 (+104.7%), from €166,374 to €340,627
of which Trade receivables: +€187,833
- Stocks and contracts -€45,000
down €45,000 (-56.3%), from €80,000 to €35,000
- Tangible fixed assets -€21,247
down €21,247 (-6.9%), from €306,321 to €285,074
of which Land and buildings: -€15,345
- Other debts +€126,129
new in 2025: €126,129
- Profit (loss) carried forward -€41,471
new in 2025: -€41,471
- Trade debts +€23,920
up €23,920 (+12.2%), from €195,981 to €219,901
- Short-term financial debts +€16,321
up €16,321 (+283.1%), from €5,765 to €22,085
of which Credit institutions: +€22,085
- Debts after one year -€12,995
down €12,995 (-6.2%), from €210,703 to €197,708
- Gross operating margin -€40,628
down €40,628 (-43.0%), from €94,487 to €53,858
- Other operating charges +€32,712
up €32,712 (+1951.3%), from €1,676 to €34,388
- Taxes -€5,890
no longer reported in 2025 (was €5,890)
- Staff costs -€5,343
down €5,343 (-16.7%), from €32,024 to €26,681
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €556,860 | €660,777 | +€103,917 | +18.7% |
| Fixed assets | 21/28 | €306,321 | €285,074 | -€21,247 | -6.9% |
| Tangible fixed assets | 22/27 | €306,321 | €285,074 | -€21,247 | -6.9% |
| Land and buildings | 22 | €284,980 | €269,636 | -€15,345 | -5.4% |
| Plant, machinery and equipment | 23 | €5,245 | €3,732 | -€1,513 | -28.9% |
| Furniture and vehicles | 24 | €16,095 | €11,707 | -€4,388 | -27.3% |
| Current assets | 29/58 | €250,539 | €375,703 | +€125,164 | +50.0% |
| Stocks and contracts in progress | 3 | €80,000 | €35,000 | -€45,000 | -56.3% |
| Contracts in progress | 37 | €80,000 | €35,000 | -€45,000 | -56.3% |
| Amounts receivable within one year | 40/41 | €166,374 | €340,627 | +€174,253 | +104.7% |
| Trade receivables | 40 | €134,491 | €322,324 | +€187,833 | +139.7% |
| Other amounts receivable | 41 | €31,882 | €18,303 | -€13,580 | -42.6% |
| Deferred charges and accrued income | 490/1 | €4,165 | €76 | -€4,089 | -98.2% |
| Total equity and liabilities | 10/49 | €556,860 | €660,777 | +€103,917 | +18.7% |
| Equity | 10/15 | €110,123 | €68,652 | -€41,471 | -37.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €105,123 | €105,123 | = | 0.0% |
| Non-distributable reserves | 130/1 | €500 | €500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €500 | €500 | = | 0.0% |
| Distributable reserves | 133 | €104,623 | €104,623 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€41,471 | -€41,471 | |
| Amounts payable | 17/49 | €446,737 | €592,125 | +€145,388 | +32.5% |
| Amounts payable after more than one year | 17 | €210,703 | €197,708 | -€12,995 | -6.2% |
| Financial debts | 170/4 | €210,703 | €197,708 | -€12,995 | -6.2% |
| Amounts payable within one year | 42/48 | €236,034 | €394,417 | +€158,383 | +67.1% |
| Current portion of amounts payable after more than one year | 42 | €14,388 | €12,995 | -€1,393 | -9.7% |
| Financial debts | 43 | €5,765 | €22,085 | +€16,321 | +283.1% |
| Credit institutions | 430/8 | - | €22,085 | +€22,085 | |
| Other loans | 439 | €5,765 | - | -€5,765 | |
| Trade debts | 44 | €195,981 | €219,901 | +€23,920 | +12.2% |
| Suppliers | 440/4 | €195,981 | €219,901 | +€23,920 | +12.2% |
| Taxes, remuneration and social security | 45 | €19,900 | €13,307 | -€6,593 | -33.1% |
| Taxes | 450/3 | €14,997 | €11,404 | -€3,593 | -24.0% |
| Remuneration and social security | 454/9 | €4,903 | €1,903 | -€3,000 | -61.2% |
| Other amounts payable | 47/48 | - | €126,129 | +€126,129 | |
| Remuneration, social security and pensions | 62 | €32,024 | €26,681 | -€5,343 | -16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,416 | €21,247 | +€831 | +4.1% |
| Other operating charges | 640/8 | €1,676 | €34,388 | +€32,712 | +1951.3% |
| Gross operating margin | 9900 | €94,487 | €53,858 | -€40,628 | -43.0% |
| Operating profit (loss) | 9901 | €40,370 | -€28,458 | -€68,828 | |
| Financial income | 75/76B | €0 | €367 | +€367 | +611750.0% |
| Recurring financial income | 75 | €0 | €367 | +€367 | +611750.0% |
| Financial charges | 65/66B | €13,755 | €13,380 | -€375 | -2.7% |
| Recurring financial charges | 65 | €13,755 | €13,380 | -€375 | -2.7% |
| Profit (loss) for the period before taxes | 9903 | €26,615 | -€41,471 | -€68,086 | |
| Income taxes | 67/77 | €5,890 | - | -€5,890 | |
| Profit (loss) for the period | 9904 | €20,725 | -€41,471 | -€62,196 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,725 | -€41,471 | -€62,196 |
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 2 October 2026 via checked.be.