C&N PROJECT 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&N PROJECT MANAGEMENT
Largest movements
- Tangible fixed assets +€153,701
up €153,701 (+110%), from €139,754 to €293,455
of which Plant, machinery and equipment: +€164,972
- Receivables within one year +€13,821
up €13,821 (+78.4%), from €17,633 to €31,455
- Deferred charges and accrued income -€11,917
down €11,917 (-36.1%), from €32,973 to €21,056
- Cash +€5,898
up €5,898 (+300%), from €1,963 to €7,861
mainly Debts after one year (+€150,000) and Depreciation (+€37,048)
- Debts after one year +€150,000
new in 2025: €150,000
- Tax, wage and social debts +€12,233
up €12,233 (+222%), from €5,520 to €17,752
- Reserves +€7,859
up €7,859 (+5.1%), from €154,276 to €162,135
- Other debts -€6,134
down €6,134 (-29.2%), from €20,983 to €14,848
- Gross operating margin +€12,179
up €12,179 (+24.8%), from €49,147 to €61,326
- Financial charges +€8,457
up €8,457 (+1,000%), from €845 to €9,302
- Depreciation +€6,865
up €6,865 (+22.7%), from €30,184 to €37,048
- Taxes -€739
down €739 (-12.8%), from €5,772 to €5,033
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 | €197,424 | €358,997 | +€161,574 | +81.8% |
| Fixed assets | 21/28 | €139,754 | €293,455 | +€153,701 | +110% |
| Tangible fixed assets | 22/27 | €139,754 | €293,455 | +€153,701 | +110% |
| Land and buildings | 22 | €86,231 | €80,711 | -€5,520 | -6.4% |
| Plant, machinery and equipment | 23 | €37,224 | €202,196 | +€164,972 | +443% |
| Furniture and vehicles | 24 | €16,299 | €10,549 | -€5,750 | -35.3% |
| Current assets | 29/58 | €57,670 | €65,542 | +€7,872 | +13.7% |
| Amounts receivable within one year | 40/41 | €17,633 | €31,455 | +€13,821 | +78.4% |
| Trade receivables | 40 | €17,633 | €31,455 | +€13,821 | +78.4% |
| Current investments | 50/53 | €5,100 | €5,171 | +€71 | +1.4% |
| Cash at bank and in hand | 54/58 | €1,963 | €7,861 | +€5,898 | +300% |
| Deferred charges and accrued income | 490/1 | €32,973 | €21,056 | -€11,917 | -36.1% |
| Total equity and liabilities | 10/49 | €197,424 | €358,997 | +€161,574 | +81.8% |
| Equity | 10/15 | €162,336 | €170,195 | +€7,859 | +4.8% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €154,276 | €162,135 | +€7,859 | +5.1% |
| Distributable reserves | 133 | €154,276 | €162,135 | +€7,859 | +5.1% |
| Amounts payable | 17/49 | €35,088 | €188,802 | +€153,714 | +438% |
| Amounts payable after more than one year | 17 | - | €150,000 | +€150,000 | |
| Other amounts payable | 178/9 | - | €150,000 | +€150,000 | |
| Amounts payable within one year | 42/48 | €34,361 | €38,053 | +€3,692 | +10.7% |
| Trade debts | 44 | €7,859 | €5,453 | -€2,407 | -30.6% |
| Suppliers | 440/4 | €7,859 | €5,453 | -€2,407 | -30.6% |
| Taxes, remuneration and social security | 45 | €5,520 | €17,752 | +€12,233 | +222% |
| Taxes | 450/3 | €5,520 | €17,752 | +€12,233 | +222% |
| Other amounts payable | 47/48 | €20,983 | €14,848 | -€6,134 | -29.2% |
| Accrued charges and deferred income | 492/3 | €726 | €749 | +€22 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,184 | €37,048 | +€6,865 | +22.7% |
| Other operating charges | 640/8 | €1,842 | €2,185 | +€343 | +18.6% |
| Gross operating margin | 9900 | €49,147 | €61,326 | +€12,179 | +24.8% |
| Operating profit (loss) | 9901 | €17,121 | €22,093 | +€4,971 | +29.0% |
| Financial income | 75/76B | €223 | €101 | -€122 | -54.6% |
| Recurring financial income | 75 | €223 | €101 | -€122 | -54.6% |
| Financial charges | 65/66B | €845 | €9,302 | +€8,457 | +1,000% |
| Recurring financial charges | 65 | €845 | €9,302 | +€8,457 | +1,000% |
| Profit (loss) for the period before taxes | 9903 | €16,499 | €12,892 | -€3,607 | -21.9% |
| Income taxes | 67/77 | €5,772 | €5,033 | -€739 | -12.8% |
| Profit (loss) for the period | 9904 | €10,727 | €7,859 | -€2,868 | -26.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,727 | €7,859 | -€2,868 | -26.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.