C-nery: 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-nery
Largest movements
- Intangible fixed assets +€222,197
up €222,197 (+1,682%), from €13,208 to €235,406
- Cash -€173,528
down €173,528 (-86.1%), from €201,592 to €28,064
mainly Investment in fixed assets (net) (-€227,428) and Net result for the year (-€19,553)
- Investment grants +€49,980
new in 2025: €49,980
- Profit (loss) carried forward -€19,553
down €19,553 (-57.1%), from -€34,248 to -€53,801
- Trade debts +€15,899
up €15,899 (+2,673%), from €595 to €16,494
- Gross operating margin +€19,142
up €19,142 (+57.3%), from -€33,421 to -€14,279
- Depreciation +€4,429
up €4,429 (+552%), from €802 to €5,231
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 | €226,347 | €275,034 | +€48,687 | +21.5% |
| Fixed assets | 21/28 | €13,208 | €235,406 | +€222,197 | +1,682% |
| Intangible fixed assets | 21 | €13,208 | €235,406 | +€222,197 | +1,682% |
| Current assets | 29/58 | €213,138 | €39,628 | -€173,510 | -81.4% |
| Amounts receivable within one year | 40/41 | €10,832 | €10,207 | -€625 | -5.8% |
| Trade receivables | 40 | €1,089 | €847 | -€242 | -22.2% |
| Other amounts receivable | 41 | €9,743 | €9,360 | -€383 | -3.9% |
| Cash at bank and in hand | 54/58 | €201,592 | €28,064 | -€173,528 | -86.1% |
| Deferred charges and accrued income | 490/1 | €714 | €1,357 | +€643 | +90.0% |
| Total equity and liabilities | 10/49 | €226,347 | €275,034 | +€48,687 | +21.5% |
| Equity | 10/15 | -€24,248 | €6,179 | +€30,427 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,248 | -€53,801 | -€19,553 | -57.1% |
| Investment grants | 15 | - | €49,980 | +€49,980 | |
| Amounts payable | 17/49 | €250,595 | €268,855 | +€18,260 | +7.3% |
| Amounts payable after more than one year | 17 | €250,000 | €250,000 | = | 0.0% |
| Financial debts | 170/4 | €250,000 | €250,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €595 | €18,855 | +€18,260 | +3,070% |
| Financial debts | 43 | - | €2,354 | +€2,354 | |
| Other loans | 439 | - | €2,354 | +€2,354 | |
| Trade debts | 44 | €595 | €16,494 | +€15,899 | +2,673% |
| Suppliers | 440/4 | €595 | €16,494 | +€15,899 | +2,673% |
| Other amounts payable | 47/48 | - | €7 | +€7 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €802 | €5,231 | +€4,429 | +552% |
| Gross operating margin | 9900 | -€33,421 | -€14,279 | +€19,142 | +57.3% |
| Operating profit (loss) | 9901 | -€34,222 | -€19,509 | +€14,713 | +43.0% |
| Financial income | 75/76B | €15 | €20 | +€5 | +31.1% |
| Recurring financial income | 75 | €15 | €20 | +€5 | +31.1% |
| Financial charges | 65/66B | €41 | €63 | +€23 | +55.3% |
| Recurring financial charges | 65 | €41 | €63 | +€23 | +55.3% |
| Profit (loss) for the period before taxes | 9903 | -€34,248 | -€19,553 | +€14,695 | +42.9% |
| Profit (loss) for the period | 9904 | -€34,248 | -€19,553 | +€14,695 | +42.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,248 | -€19,553 | +€14,695 | +42.9% |
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 17 October 2026 via checked.be.