C-Quilibrium: 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-Quilibrium
Largest movements
- Stocks and contracts +€77,770
up €77,770, from €0 to €77,770
- Intangible fixed assets -€36,534
down €36,534 (-10.1%), from €362,247 to €325,713
- Receivables within one year -€31,393
down €31,393 (-18.8%), from €166,924 to €135,531
of which Other amounts receivable: -€28,379
- Cash -€15,720
down €15,720 (-46.6%), from €33,764 to €18,044
mainly Investment in fixed assets (net) (-€192,322) and Stocks and contracts (-€77,770)
- Deferred charges and accrued income +€11,516
up €11,516 (+82.1%), from €14,032 to €25,548
- Trade debts -€43,856
down €43,856 (-32.3%), from €135,803 to €91,947
- Accrued charges and deferred income +€31,432
up €31,432 (+43.9%), from €71,643 to €103,075
- Short-term financial debts +€11,592
new in 2025: €11,592
- Gross operating margin +€85,405
up €85,405 (+54.4%), from €156,919 to €242,323
- Depreciation +€15,376
up €15,376 (+7.2%), from €214,978 to €230,354
- Taxes -€11,291
down €11,291 (-100%), from €11,291 to €0
- Staff costs -€5,634
down €5,634 (-97.1%), from €5,804 to €170
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 | €579,941 | €584,082 | +€4,140 | +0.7% |
| Fixed assets | 21/28 | €365,221 | €327,189 | -€38,032 | -10.4% |
| Intangible fixed assets | 21 | €362,247 | €325,713 | -€36,534 | -10.1% |
| Tangible fixed assets | 22/27 | €2,974 | €1,476 | -€1,498 | -50.4% |
| Plant, machinery and equipment | 23 | €2,974 | €1,476 | -€1,498 | -50.4% |
| Current assets | 29/58 | €214,720 | €256,893 | +€42,173 | +19.6% |
| Stocks and contracts in progress | 3 | €0 | €77,770 | +€77,770 | |
| Contracts in progress | 37 | €0 | €77,770 | +€77,770 | |
| Amounts receivable within one year | 40/41 | €166,924 | €135,531 | -€31,393 | -18.8% |
| Trade receivables | 40 | €96,115 | €93,101 | -€3,014 | -3.1% |
| Other amounts receivable | 41 | €70,808 | €42,429 | -€28,379 | -40.1% |
| Cash at bank and in hand | 54/58 | €33,764 | €18,044 | -€15,720 | -46.6% |
| Deferred charges and accrued income | 490/1 | €14,032 | €25,548 | +€11,516 | +82.1% |
| Total equity and liabilities | 10/49 | €579,941 | €584,082 | +€4,140 | +0.7% |
| Equity | 10/15 | €372,495 | €377,467 | +€4,972 | +1.3% |
| Contributions | 10/11 | €686,342 | €686,342 | = | 0.0% |
| Capital | 10 | €638,250 | €638,250 | = | 0.0% |
| Issued capital | 100 | €638,250 | €638,250 | = | 0.0% |
| Contributions outside capital | 11 | €48,092 | €48,092 | = | 0.0% |
| Share premium | 1100/10 | €48,092 | €48,092 | = | 0.0% |
| Reserves | 13 | €12,000 | €12,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,000 | €12,000 | = | 0.0% |
| Legal reserve | 130 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€325,847 | -€320,874 | +€4,972 | +1.5% |
| Amounts payable | 17/49 | €207,446 | €206,614 | -€832 | -0.4% |
| Amounts payable within one year | 42/48 | €135,803 | €103,539 | -€32,264 | -23.8% |
| Financial debts | 43 | - | €11,592 | +€11,592 | |
| Credit institutions | 430/8 | - | €11,592 | +€11,592 | |
| Trade debts | 44 | €135,803 | €91,947 | -€43,856 | -32.3% |
| Suppliers | 440/4 | €135,803 | €91,947 | -€43,856 | -32.3% |
| Accrued charges and deferred income | 492/3 | €71,643 | €103,075 | +€31,432 | +43.9% |
| Remuneration, social security and pensions | 62 | €5,804 | €170 | -€5,634 | -97.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €214,978 | €230,354 | +€15,376 | +7.2% |
| Other operating charges | 640/8 | €6,394 | €7,263 | +€868 | +13.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €156,919 | €242,323 | +€85,405 | +54.4% |
| Operating profit (loss) | 9901 | -€70,257 | €4,537 | +€74,794 | |
| Financial income | 75/76B | €1,209 | €3,126 | +€1,917 | +158% |
| Recurring financial income | 75 | €1,209 | €3,126 | +€1,917 | +158% |
| Financial charges | 65/66B | €2,130 | €2,690 | +€560 | +26.3% |
| Recurring financial charges | 65 | €2,130 | €2,690 | +€560 | +26.3% |
| Profit (loss) for the period before taxes | 9903 | -€71,178 | €4,972 | +€76,150 | |
| Income taxes | 67/77 | €11,291 | €0 | -€11,291 | -100% |
| Profit (loss) for the period | 9904 | -€82,469 | €4,972 | +€87,441 | |
| Profit (loss) for the period to be appropriated | 9905 | -€82,469 | €4,972 | +€87,441 |
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 16 October 2026 via checked.be.