C.S.: 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.S.
Largest movements
- Tangible fixed assets +€13,354
up €13,354 (+18.4%), from €72,738 to €86,092
of which Other tangible fixed assets: +€22,376
- Receivables within one year -€4,211
down €4,211 (-59.4%), from €7,084 to €2,874
of which Trade receivables: -€3,847
- Stocks and contracts -€2,247
down €2,247 (-4.3%), from €52,871 to €50,624
- Cash +€1,653
up €1,653 (+36.6%), from €4,519 to €6,173
mainly Trade debts (+€14,419) and Depreciation (+€13,194)
- Trade debts +€14,419
up €14,419 (+26.8%), from €53,861 to €68,281
- Debts after one year -€6,156
down €6,156 (-19.1%), from €32,294 to €26,138
- Reserves +€2,691
up €2,691 (+107.3%), from €2,507 to €5,198
- Tax, wage and social debts +€2,486
up €2,486 (+193.5%), from €1,285 to €3,771
of which Remuneration and social security: +€2,185
- Other debts -€1,781
down €1,781 (-6.7%), from €26,673 to €24,891
- Gross operating margin +€13,712
up €13,712 (+92.6%), from €14,804 to €28,516
- Depreciation +€5,818
up €5,818 (+78.9%), from €7,376 to €13,194
- Staff costs +€3,416
up €3,416 (+165.7%), from €2,061 to €5,477
- Other operating charges +€2,541
up €2,541 (+640.6%), from €397 to €2,938
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 | €140,106 | €149,118 | +€9,012 | +6.4% |
| Formation expenses | 20 | €1,468 | €1,153 | -€315 | -21.5% |
| Fixed assets | 21/28 | €72,738 | €86,092 | +€13,354 | +18.4% |
| Tangible fixed assets | 22/27 | €72,738 | €86,092 | +€13,354 | +18.4% |
| Plant, machinery and equipment | 23 | €6,472 | €5,525 | -€947 | -14.6% |
| Furniture and vehicles | 24 | €34,210 | €26,135 | -€8,075 | -23.6% |
| Other tangible fixed assets | 26 | €32,056 | €54,433 | +€22,376 | +69.8% |
| Current assets | 29/58 | €65,900 | €61,874 | -€4,026 | -6.1% |
| Stocks and contracts in progress | 3 | €52,871 | €50,624 | -€2,247 | -4.3% |
| Stocks | 30/36 | €52,871 | €50,624 | -€2,247 | -4.3% |
| Amounts receivable within one year | 40/41 | €7,084 | €2,874 | -€4,211 | -59.4% |
| Trade receivables | 40 | €5,929 | €2,082 | -€3,847 | -64.9% |
| Other amounts receivable | 41 | €1,156 | €792 | -€364 | -31.5% |
| Cash at bank and in hand | 54/58 | €4,519 | €6,173 | +€1,653 | +36.6% |
| Deferred charges and accrued income | 490/1 | €1,425 | €2,203 | +€778 | +54.6% |
| Total equity and liabilities | 10/49 | €140,106 | €149,118 | +€9,012 | +6.4% |
| Equity | 10/15 | €7,507 | €10,198 | +€2,691 | +35.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €2,507 | €5,198 | +€2,691 | +107.3% |
| Distributable reserves | 133 | €2,507 | €5,198 | +€2,691 | +107.3% |
| Amounts payable | 17/49 | €132,599 | €138,920 | +€6,322 | +4.8% |
| Amounts payable after more than one year | 17 | €32,294 | €26,138 | -€6,156 | -19.1% |
| Financial debts | 170/4 | €32,294 | €26,138 | -€6,156 | -19.1% |
| Amounts payable within one year | 42/48 | €94,166 | €108,126 | +€13,960 | +14.8% |
| Current portion of amounts payable after more than one year | 42 | €12,347 | €11,184 | -€1,164 | -9.4% |
| Trade debts | 44 | €53,861 | €68,281 | +€14,419 | +26.8% |
| Suppliers | 440/4 | €53,861 | €68,281 | +€14,419 | +26.8% |
| Taxes, remuneration and social security | 45 | €1,285 | €3,771 | +€2,486 | +193.5% |
| Taxes | 450/3 | €1,285 | €1,586 | +€301 | +23.5% |
| Remuneration and social security | 454/9 | - | €2,185 | +€2,185 | |
| Other amounts payable | 47/48 | €26,673 | €24,891 | -€1,781 | -6.7% |
| Accrued charges and deferred income | 492/3 | €6,139 | €4,656 | -€1,483 | -24.2% |
| Remuneration, social security and pensions | 62 | €2,061 | €5,477 | +€3,416 | +165.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,376 | €13,194 | +€5,818 | +78.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €543 | €481 | -€63 | -11.5% |
| Other operating charges | 640/8 | €397 | €2,938 | +€2,541 | +640.6% |
| Gross operating margin | 9900 | €14,804 | €28,516 | +€13,712 | +92.6% |
| Operating profit (loss) | 9901 | €4,427 | €6,426 | +€1,999 | +45.1% |
| Financial income | 75/76B | €62 | €24 | -€38 | -61.5% |
| Recurring financial income | 75 | €62 | €24 | -€38 | -61.5% |
| Financial charges | 65/66B | €2,476 | €2,522 | +€45 | +1.8% |
| Recurring financial charges | 65 | €2,476 | €2,522 | +€45 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | €2,013 | €3,928 | +€1,916 | +95.2% |
| Income taxes | 67/77 | €1,032 | €1,238 | +€206 | +19.9% |
| Profit (loss) for the period | 9904 | €981 | €2,691 | +€1,710 | +174.3% |
| Profit (loss) for the period to be appropriated | 9905 | €981 | €2,691 | +€1,710 | +174.3% |
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 28 September 2026 via checked.be.