C+ projects: 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+ projects
Largest movements
- Tangible fixed assets +€198,714
up €198,714 (+6,874%), from €2,891 to €201,605
of which Land and buildings: +€199,007
- Cash +€62,494
up €62,494 (+74.8%), from €83,571 to €146,065
mainly Debts after one year (+€221,658) and Net result for the year (+€70,121)
- Receivables after one year +€55,185
up €55,185 (+115%), from €47,815 to €103,000
- Financial fixed assets +€25,000
new in 2025: €25,000
- Receivables within one year -€11,492
down €11,492 (-32.1%), from €35,798 to €24,306
of which Trade receivables: -€8,272
- Debts after one year +€221,658
new in 2025: €221,658
- Profit (loss) carried forward +€70,121
up €70,121 (+54.7%), from €128,186 to €198,307
- Other debts +€23,042
new in 2025: €23,042
- Current portion of long-term debt +€7,947
new in 2025: €7,947
- Gross operating margin -€44,963
down €44,963 (-26.6%), from €168,898 to €123,935
- Depreciation +€29,750
up €29,750 (+55,370%), from €54 to €29,804
- Taxes -€19,224
down €19,224 (-49.8%), from €38,581 to €19,357
- Financial charges +€2,497
up €2,497 (+78.1%), from €3,198 to €5,695
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 | €170,807 | €500,822 | +€330,014 | +193% |
| Fixed assets | 21/28 | €2,891 | €226,605 | +€223,714 | +7,739% |
| Tangible fixed assets | 22/27 | €2,891 | €201,605 | +€198,714 | +6,874% |
| Land and buildings | 22 | €1,469 | €200,476 | +€199,007 | +13,550% |
| Furniture and vehicles | 24 | €1,422 | €1,129 | -€293 | -20.6% |
| Financial fixed assets | 28 | - | €25,000 | +€25,000 | |
| Current assets | 29/58 | €167,916 | €274,217 | +€106,300 | +63.3% |
| Amounts receivable after more than one year | 29 | €47,815 | €103,000 | +€55,185 | +115% |
| Other amounts receivable | 291 | €47,815 | €103,000 | +€55,185 | +115% |
| Amounts receivable within one year | 40/41 | €35,798 | €24,306 | -€11,492 | -32.1% |
| Trade receivables | 40 | €11,214 | €2,941 | -€8,272 | -73.8% |
| Other amounts receivable | 41 | €24,584 | €21,365 | -€3,219 | -13.1% |
| Cash at bank and in hand | 54/58 | €83,571 | €146,065 | +€62,494 | +74.8% |
| Deferred charges and accrued income | 490/1 | €732 | €845 | +€113 | +15.5% |
| Total equity and liabilities | 10/49 | €170,807 | €500,822 | +€330,014 | +193% |
| Equity | 10/15 | €129,186 | €199,307 | +€70,121 | +54.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €128,186 | €198,307 | +€70,121 | +54.7% |
| Amounts payable | 17/49 | €41,621 | €301,514 | +€259,894 | +624% |
| Amounts payable after more than one year | 17 | - | €221,658 | +€221,658 | |
| Financial debts | 170/4 | - | €221,658 | +€221,658 | |
| Amounts payable within one year | 42/48 | €41,621 | €79,641 | +€38,020 | +91.3% |
| Current portion of amounts payable after more than one year | 42 | - | €7,947 | +€7,947 | |
| Trade debts | 44 | €1,023 | €4,213 | +€3,190 | +312% |
| Suppliers | 440/4 | €1,023 | €4,213 | +€3,190 | +312% |
| Taxes, remuneration and social security | 45 | €40,598 | €44,439 | +€3,841 | +9.5% |
| Taxes | 450/3 | €40,598 | €44,439 | +€3,841 | +9.5% |
| Other amounts payable | 47/48 | - | €23,042 | +€23,042 | |
| Accrued charges and deferred income | 492/3 | - | €215 | +€215 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54 | €29,804 | +€29,750 | +55,370% |
| Other operating charges | 640/8 | €1,315 | €1,965 | +€649 | +49.4% |
| Gross operating margin | 9900 | €168,898 | €123,935 | -€44,963 | -26.6% |
| Operating profit (loss) | 9901 | €167,529 | €92,166 | -€75,363 | -45.0% |
| Financial income | 75/76B | €2,436 | €3,007 | +€571 | +23.5% |
| Recurring financial income | 75 | €2,436 | €3,007 | +€571 | +23.5% |
| Financial charges | 65/66B | €3,198 | €5,695 | +€2,497 | +78.1% |
| Recurring financial charges | 65 | €3,198 | €5,695 | +€2,497 | +78.1% |
| Profit (loss) for the period before taxes | 9903 | €166,767 | €89,478 | -€77,289 | -46.3% |
| Income taxes | 67/77 | €38,581 | €19,357 | -€19,224 | -49.8% |
| Profit (loss) for the period | 9904 | €128,186 | €70,121 | -€58,066 | -45.3% |
| Profit (loss) for the period to be appropriated | 9905 | €128,186 | €70,121 | -€58,066 | -45.3% |
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 25 October 2026 via checked.be.