C & O: 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 & O
Largest movements
- Tangible fixed assets -€47,838
down €47,838 (-15.3%), from €312,127 to €264,289
of which Furniture and vehicles: -€36,995
- Stocks and contracts -€21,771
no longer reported in 2025 (was €21,771)
- Receivables within one year -€17,209
down €17,209 (-10.9%), from €157,919 to €140,710
of which Trade receivables: -€16,737
- Reserves -€54,352
down €54,352 (-28.8%), from €188,610 to €134,257
- Debts after one year -€47,996
down €47,996 (-25.5%), from €188,041 to €140,045
- Short-term financial debts +€39,592
new in 2025: €39,592
- Tax, wage and social debts -€19,348
down €19,348 (-69.3%), from €27,916 to €8,568
of which Taxes: -€10,884
- Trade debts -€7,320
down €7,320 (-31.9%), from €22,938 to €15,617
- Gross operating margin -€57,169
down €57,169 (-21.3%), from €267,865 to €210,696
- Depreciation +€19,527
up €19,527 (+58.9%), from €33,160 to €52,688
- Taxes -€7,618
down €7,618, from €2,198 to -€5,420
- Staff costs -€6,563
down €6,563 (-3.2%), from €205,898 to €199,335
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 | €496,609 | €405,690 | -€90,918 | -18.3% |
| Fixed assets | 21/28 | €312,127 | €264,289 | -€47,838 | -15.3% |
| Tangible fixed assets | 22/27 | €312,127 | €264,289 | -€47,838 | -15.3% |
| Land and buildings | 22 | €137,440 | €130,764 | -€6,676 | -4.9% |
| Plant, machinery and equipment | 23 | €16,734 | €12,567 | -€4,167 | -24.9% |
| Furniture and vehicles | 24 | €157,953 | €120,958 | -€36,995 | -23.4% |
| Current assets | 29/58 | €184,482 | €141,401 | -€43,081 | -23.4% |
| Stocks and contracts in progress | 3 | €21,771 | - | -€21,771 | |
| Contracts in progress | 37 | €21,771 | - | -€21,771 | |
| Amounts receivable within one year | 40/41 | €157,919 | €140,710 | -€17,209 | -10.9% |
| Trade receivables | 40 | €152,072 | €135,334 | -€16,737 | -11.0% |
| Other amounts receivable | 41 | €5,847 | €5,376 | -€472 | -8.1% |
| Cash at bank and in hand | 54/58 | €3,746 | - | -€3,746 | |
| Deferred charges and accrued income | 490/1 | €1,046 | €691 | -€355 | -33.9% |
| Total equity and liabilities | 10/49 | €496,609 | €405,690 | -€90,918 | -18.3% |
| Equity | 10/15 | €207,210 | €148,885 | -€58,325 | -28.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €188,610 | €134,257 | -€54,352 | -28.8% |
| Distributable reserves | 133 | €188,610 | €134,257 | -€54,352 | -28.8% |
| Profit (loss) carried forward | 14 | - | -€3,972 | -€3,972 | |
| Amounts payable | 17/49 | €289,399 | €256,806 | -€32,594 | -11.3% |
| Amounts payable after more than one year | 17 | €188,041 | €140,045 | -€47,996 | -25.5% |
| Financial debts | 170/4 | €188,041 | €140,045 | -€47,996 | -25.5% |
| Amounts payable within one year | 42/48 | €101,315 | €116,761 | +€15,445 | +15.2% |
| Current portion of amounts payable after more than one year | 42 | €48,411 | €48,812 | +€401 | +0.8% |
| Financial debts | 43 | - | €39,592 | +€39,592 | |
| Credit institutions | 430/8 | - | €39,592 | +€39,592 | |
| Trade debts | 44 | €22,938 | €15,617 | -€7,320 | -31.9% |
| Suppliers | 440/4 | €22,938 | €15,617 | -€7,320 | -31.9% |
| Taxes, remuneration and social security | 45 | €27,916 | €8,568 | -€19,348 | -69.3% |
| Taxes | 450/3 | €11,365 | €482 | -€10,884 | -95.8% |
| Remuneration and social security | 454/9 | €16,551 | €8,087 | -€8,464 | -51.1% |
| Other amounts payable | 47/48 | €2,051 | €4,171 | +€2,120 | +103% |
| Accrued charges and deferred income | 492/3 | €43 | - | -€43 | |
| Remuneration, social security and pensions | 62 | €205,898 | €199,335 | -€6,563 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,160 | €52,688 | +€19,527 | +58.9% |
| Other operating charges | 640/8 | €2,689 | €2,464 | -€225 | -8.4% |
| Gross operating margin | 9900 | €267,865 | €210,696 | -€57,169 | -21.3% |
| Operating profit (loss) | 9901 | €26,118 | -€43,791 | -€69,909 | |
| Financial income | 75/76B | €400 | €311 | -€89 | -22.3% |
| Recurring financial income | 75 | €400 | €311 | -€89 | -22.3% |
| Financial charges | 65/66B | €14,826 | €13,949 | -€877 | -5.9% |
| Recurring financial charges | 65 | €14,826 | €13,949 | -€877 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €11,692 | -€57,429 | -€69,121 | |
| Income taxes | 67/77 | €2,198 | -€5,420 | -€7,618 | |
| Profit (loss) for the period | 9904 | €9,494 | -€52,009 | -€61,503 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,494 | -€52,009 | -€61,503 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.