C & O PARTNERS: 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 PARTNERS
Largest movements
- Tangible fixed assets -€172,025
down €172,025 (-19.2%), from €896,784 to €724,759
of which Land and buildings: -€152,676
- Receivables within one year -€79,359
down €79,359 (-34.7%), from €228,608 to €149,249
of which Trade receivables: -€44,974
- Cash +€54,941
up €54,941 (+281%), from €19,528 to €74,469
mainly Investment in fixed assets (net) (+€114,585) and Receivables within one year (+€79,359)
- Profit (loss) carried forward -€122,420
down €122,420 (-38.9%), from -€314,407 to -€436,827
- Debts after one year -€84,705
down €84,705 (-17.6%), from €481,829 to €397,124
- Other debts +€16,542
up €16,542 (+2.0%), from €816,166 to €832,708
- Other operating charges +€249,820
up €249,820 (+1,690%), from €14,782 to €264,602
- Financial charges -€184,607
down €184,607 (-94.2%), from €196,063 to €11,456
of which Non-recurring financial charges: -€183,350
- Write-downs -€183,004
down €183,004, from €64,432 to -€118,572
- Gross operating margin +€65,007
up €65,007 (+412%), from €15,793 to €80,800
- Financial income +€10,974
up €10,974 (+244,405%), from €4 to €10,978
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 | €1,150,852 | €954,112 | -€196,740 | -17.1% |
| Fixed assets | 21/28 | €900,534 | €728,509 | -€172,025 | -19.1% |
| Tangible fixed assets | 22/27 | €896,784 | €724,759 | -€172,025 | -19.2% |
| Land and buildings | 22 | €826,324 | €673,648 | -€152,676 | -18.5% |
| Plant, machinery and equipment | 23 | €1,522 | - | -€1,522 | |
| Furniture and vehicles | 24 | €1,298 | €1,048 | -€249 | -19.2% |
| Leasing and similar rights | 25 | €9,713 | €2,234 | -€7,479 | -77.0% |
| Other tangible fixed assets | 26 | €57,927 | €47,829 | -€10,098 | -17.4% |
| Financial fixed assets | 28 | €3,750 | €3,750 | = | 0.0% |
| Current assets | 29/58 | €250,318 | €225,603 | -€24,715 | -9.9% |
| Amounts receivable within one year | 40/41 | €228,608 | €149,249 | -€79,359 | -34.7% |
| Trade receivables | 40 | €161,065 | €116,091 | -€44,974 | -27.9% |
| Other amounts receivable | 41 | €67,542 | €33,157 | -€34,385 | -50.9% |
| Cash at bank and in hand | 54/58 | €19,528 | €74,469 | +€54,941 | +281% |
| Deferred charges and accrued income | 490/1 | €2,182 | €1,886 | -€297 | -13.6% |
| Total equity and liabilities | 10/49 | €1,150,852 | €954,112 | -€196,740 | -17.1% |
| Equity | 10/15 | -€227,985 | -€351,189 | -€123,203 | -54.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €24,421 | €23,638 | -€783 | -3.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | - | -€6,200 | |
| Reserves not available under the articles | 1311 | - | €6,200 | +€6,200 | |
| Tax-exempt reserves | 132 | €18,221 | €17,438 | -€783 | -4.3% |
| Profit (loss) carried forward | 14 | -€314,407 | -€436,827 | -€122,420 | -38.9% |
| Provisions and deferred taxes | 16 | €9,387 | €8,983 | -€404 | -4.3% |
| Deferred taxes | 168 | €9,387 | €8,983 | -€404 | -4.3% |
| Amounts payable | 17/49 | €1,369,450 | €1,296,318 | -€73,133 | -5.3% |
| Amounts payable after more than one year | 17 | €481,829 | €397,124 | -€84,705 | -17.6% |
| Financial debts | 170/4 | €481,829 | €397,124 | -€84,705 | -17.6% |
| Amounts payable within one year | 42/48 | €887,622 | €898,813 | +€11,192 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €38,516 | €30,428 | -€8,088 | -21.0% |
| Trade debts | 44 | €31,762 | €35,677 | +€3,915 | +12.3% |
| Suppliers | 440/4 | €31,762 | €35,677 | +€3,915 | +12.3% |
| Taxes, remuneration and social security | 45 | €1,177 | - | -€1,177 | |
| Taxes | 450/3 | €1,177 | - | -€1,177 | |
| Other amounts payable | 47/48 | €816,166 | €832,708 | +€16,542 | +2.0% |
| Accrued charges and deferred income | 492/3 | - | €380 | +€380 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,036 | €57,440 | -€3,597 | -5.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €64,432 | -€118,572 | -€183,004 | |
| Other operating charges | 640/8 | €14,782 | €264,602 | +€249,820 | +1,690% |
| Gross operating margin | 9900 | €15,793 | €80,800 | +€65,007 | +412% |
| Operating profit (loss) | 9901 | -€124,457 | -€122,669 | +€1,788 | +1.4% |
| Financial income | 75/76B | €4 | €10,978 | +€10,974 | +244,405% |
| Recurring financial income | 75 | €4 | €10,978 | +€10,974 | +244,405% |
| Financial charges | 65/66B | €196,063 | €11,456 | -€184,607 | -94.2% |
| Recurring financial charges | 65 | €12,713 | €11,456 | -€1,257 | -9.9% |
| Non-recurring financial charges | 66B | €183,350 | - | -€183,350 | |
| Profit (loss) for the period before taxes | 9903 | -€320,516 | -€123,147 | +€197,369 | +61.6% |
| Transfer from deferred taxes | 780 | €404 | €404 | = | 0.0% |
| Income taxes | 67/77 | €551 | €460 | -€91 | -16.5% |
| Profit (loss) for the period | 9904 | -€320,663 | -€123,203 | +€197,460 | +61.6% |
| Transfer from tax-exempt reserves | 789 | €783 | €783 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€319,880 | -€122,420 | +€197,460 | +61.7% |
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 18 October 2026 via checked.be.