C - ONE: 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 - ONE
Largest movements
- Receivables after one year -€104,987
down €104,987 (-60.0%), from €175,000 to €70,013
- Receivables within one year +€60,706
up €60,706 (+242.8%), from €25,000 to €85,706
of which Trade receivables: +€56,229
- Tangible fixed assets -€35,112
down €35,112 (-14.8%), from €236,691 to €201,579
of which Furniture and vehicles: -€28,213
- Current investments +€10,786
up €10,786 (+49.3%), from €21,889 to €32,675
- Other debts -€66,247
down €66,247 (-45.8%), from €144,493 to €78,246
- Advances received +€36,143
new in 2025: €36,143
- Debts after one year -€31,303
down €31,303 (-38.1%), from €82,155 to €50,852
- Current portion of long-term debt -€6,818
down €6,818 (-17.9%), from €38,121 to €31,303
- Gross operating margin +€39,813
up €39,813 (+109.3%), from €36,414 to €76,227
- Other operating charges +€7,482
up €7,482 (+795.1%), from €941 to €8,423
- Depreciation -€6,019
down €6,019 (-22.4%), from €26,848 to €20,829
- Financial charges -€1,319
down €1,319 (-11.8%), from €11,170 to €9,851
- Staff costs -€917
down €917 (-2.5%), from €36,274 to €35,357
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
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 | €464,564 | €393,691 | -€70,873 | -15.3% |
| Fixed assets | 21/28 | €240,409 | €205,297 | -€35,112 | -14.6% |
| Tangible fixed assets | 22/27 | €236,691 | €201,579 | -€35,112 | -14.8% |
| Land and buildings | 22 | €185,286 | €179,297 | -€5,989 | -3.2% |
| Plant, machinery and equipment | 23 | €1,890 | €980 | -€910 | -48.1% |
| Furniture and vehicles | 24 | €49,515 | €21,302 | -€28,213 | -57.0% |
| Financial fixed assets | 28 | €3,718 | €3,718 | = | 0.0% |
| Current assets | 29/58 | €224,155 | €188,394 | -€35,761 | -16.0% |
| Amounts receivable after more than one year | 29 | €175,000 | €70,013 | -€104,987 | -60.0% |
| Trade receivables | 290 | €175,000 | €70,013 | -€104,987 | -60.0% |
| Amounts receivable within one year | 40/41 | €25,000 | €85,706 | +€60,706 | +242.8% |
| Trade receivables | 40 | €25,000 | €81,229 | +€56,229 | +224.9% |
| Other amounts receivable | 41 | - | €4,477 | +€4,477 | |
| Current investments | 50/53 | €21,889 | €32,675 | +€10,786 | +49.3% |
| Cash at bank and in hand | 54/58 | €740 | - | -€740 | |
| Deferred charges and accrued income | 490/1 | €1,526 | - | -€1,526 | |
| Total equity and liabilities | 10/49 | €464,564 | €393,691 | -€70,873 | -15.3% |
| Equity | 10/15 | €146,494 | €147,738 | +€1,244 | +0.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €155,617 | €155,617 | = | 0.0% |
| Distributable reserves | 133 | €155,617 | €155,617 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,715 | -€26,471 | +€1,244 | +4.5% |
| Amounts payable | 17/49 | €318,070 | €245,953 | -€72,117 | -22.7% |
| Amounts payable after more than one year | 17 | €82,155 | €50,852 | -€31,303 | -38.1% |
| Financial debts | 170/4 | €82,155 | €50,852 | -€31,303 | -38.1% |
| Amounts payable within one year | 42/48 | €235,915 | €194,274 | -€41,641 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €38,121 | €31,303 | -€6,818 | -17.9% |
| Financial debts | 43 | €25,769 | €22,515 | -€3,254 | -12.6% |
| Credit institutions | 430/8 | €25,769 | €22,515 | -€3,254 | -12.6% |
| Trade debts | 44 | €9,104 | €5,827 | -€3,277 | -36.0% |
| Suppliers | 440/4 | €9,104 | €5,827 | -€3,277 | -36.0% |
| Advances received on contracts in progress | 46 | - | €36,143 | +€36,143 | |
| Taxes, remuneration and social security | 45 | €18,428 | €20,240 | +€1,812 | +9.8% |
| Taxes | 450/3 | €10,181 | €15,293 | +€5,112 | +50.2% |
| Remuneration and social security | 454/9 | €8,247 | €4,947 | -€3,300 | -40.0% |
| Other amounts payable | 47/48 | €144,493 | €78,246 | -€66,247 | -45.8% |
| Accrued charges and deferred income | 492/3 | - | €827 | +€827 | |
| Non-recurring operating income | 76A | - | €642 | +€642 | |
| Remuneration, social security and pensions | 62 | €36,274 | €35,357 | -€917 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,848 | €20,829 | -€6,019 | -22.4% |
| Other operating charges | 640/8 | €941 | €8,423 | +€7,482 | +795.1% |
| Gross operating margin | 9900 | €36,414 | €76,227 | +€39,813 | +109.3% |
| Operating profit (loss) | 9901 | -€27,649 | €11,618 | +€39,267 | |
| Financial charges | 65/66B | €11,170 | €9,851 | -€1,319 | -11.8% |
| Recurring financial charges | 65 | €11,170 | €9,851 | -€1,319 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | -€38,819 | €1,767 | +€40,586 | |
| Income taxes | 67/77 | €162 | €523 | +€361 | +222.8% |
| Profit (loss) for the period | 9904 | -€38,981 | €1,244 | +€40,225 | |
| Profit (loss) for the period to be appropriated | 9905 | -€38,981 | €1,244 | +€40,225 |
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 30 September 2026 via checked.be.