C.S.A. MANAGEMENT: 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.S.A. MANAGEMENT
Largest movements
- Receivables within one year +€6,067
up €6,067 (+28.3%), from €21,404 to €27,471
- Reserves +€19,000
up €19,000 (+136%), from €14,000 to €33,000
- Debts after one year -€16,229
down €16,229 (-18.0%), from €90,032 to €73,803
- Financial charges -€3,903
down €3,903 (-50.5%), from €7,724 to €3,820
- Gross operating margin +€2,539
up €2,539 (+9.4%), from €27,083 to €29,622
- Taxes +€1,708
up €1,708 (+36.0%), from €4,743 to €6,451
- Other operating charges -€419
down €419 (-74.7%), from €561 to €142
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 | €161,709 | €167,615 | +€5,906 | +3.7% |
| Fixed assets | 21/28 | €140,000 | €140,000 | = | 0.0% |
| Financial fixed assets | 28 | €140,000 | €140,000 | = | 0.0% |
| Current assets | 29/58 | €21,709 | €27,615 | +€5,906 | +27.2% |
| Amounts receivable within one year | 40/41 | €21,404 | €27,471 | +€6,067 | +28.3% |
| Trade receivables | 40 | €21,404 | €27,471 | +€6,067 | +28.3% |
| Cash at bank and in hand | 54/58 | €304 | €143 | -€161 | -52.8% |
| Total equity and liabilities | 10/49 | €161,709 | €167,615 | +€5,906 | +3.7% |
| Equity | 10/15 | €44,055 | €63,265 | +€19,209 | +43.6% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €14,000 | €33,000 | +€19,000 | +136% |
| Distributable reserves | 133 | €14,000 | €33,000 | +€19,000 | +136% |
| Profit (loss) carried forward | 14 | €55 | €265 | +€209 | +381% |
| Amounts payable | 17/49 | €117,653 | €104,350 | -€13,303 | -11.3% |
| Amounts payable after more than one year | 17 | €90,032 | €73,803 | -€16,229 | -18.0% |
| Financial debts | 170/4 | €90,032 | €73,803 | -€16,229 | -18.0% |
| Amounts payable within one year | 42/48 | €27,622 | €30,548 | +€2,926 | +10.6% |
| Current portion of amounts payable after more than one year | 42 | €12,630 | €13,151 | +€521 | +4.1% |
| Financial debts | 43 | €4,000 | €5,000 | +€1,000 | +25.0% |
| Credit institutions | 430/8 | €4,000 | €5,000 | +€1,000 | +25.0% |
| Trade debts | 44 | €157 | €313 | +€156 | +99.5% |
| Suppliers | 440/4 | €157 | €313 | +€156 | +99.5% |
| Taxes, remuneration and social security | 45 | €4,509 | €5,757 | +€1,249 | +27.7% |
| Taxes | 450/3 | €4,509 | €5,757 | +€1,249 | +27.7% |
| Other amounts payable | 47/48 | €6,327 | €6,327 | = | 0.0% |
| Other operating charges | 640/8 | €561 | €142 | -€419 | -74.7% |
| Gross operating margin | 9900 | €27,083 | €29,622 | +€2,539 | +9.4% |
| Operating profit (loss) | 9901 | €26,522 | €29,480 | +€2,959 | +11.2% |
| Financial charges | 65/66B | €7,724 | €3,820 | -€3,903 | -50.5% |
| Recurring financial charges | 65 | €7,724 | €3,820 | -€3,903 | -50.5% |
| Profit (loss) for the period before taxes | 9903 | €18,798 | €25,660 | +€6,862 | +36.5% |
| Income taxes | 67/77 | €4,743 | €6,451 | +€1,708 | +36.0% |
| Profit (loss) for the period | 9904 | €14,055 | €19,209 | +€5,154 | +36.7% |
| Profit (loss) for the period to be appropriated | 9905 | €14,055 | €19,209 | +€5,154 | +36.7% |
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 22 October 2026 via checked.be.