C.S.B.: 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.B.
Largest movements
- Tangible fixed assets -€528,936
down €528,936 (-73.5%), from €720,080 to €191,144
- Receivables within one year +€510,790
up €510,790 (+206672.2%), from €247 to €511,038
of which Other amounts receivable: +€511,038
- Cash +€195,526
up €195,526 (+1746.1%), from €11,198 to €206,724
mainly Investment in fixed assets (net) (+€522,320) and Net result for the year (+€412,889)
- Reserves +€346,925
up €346,925 (+120.0%), from €289,150 to €636,074
of which Distributable reserves: +€536,840
- Debts after one year -€237,770
down €237,770 (-78.3%), from €303,771 to €66,001
of which Other amounts payable: -€224,437
- Profit (loss) carried forward +€65,964
up €65,964, from -€65,964 to €0
- Tax, wage and social debts +€50,951
up €50,951 (+6715.6%), from €759 to €51,710
- Provisions -€47,479
down €47,479 (-70.5%), from €67,360 to €19,882
- Gross operating margin +€554,271
up €554,271 (+2054.6%), from €26,977 to €581,248
- Taxes +€201,328
new in 2025: €201,328
- Depreciation -€18,128
down €18,128 (-73.3%), from €24,745 to €6,617
- Financial income +€12,046
up €12,046 (+42730.3%), from €28 to €12,074
- Financial charges -€5,967
down €5,967 (-48.8%), from €12,221 to €6,254
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 | €731,525 | €908,905 | +€177,380 | +24.2% |
| Fixed assets | 21/28 | €720,080 | €191,144 | -€528,936 | -73.5% |
| Tangible fixed assets | 22/27 | €720,080 | €191,144 | -€528,936 | -73.5% |
| Land and buildings | 22 | €720,080 | €191,144 | -€528,936 | -73.5% |
| Current assets | 29/58 | €11,445 | €717,762 | +€706,317 | +6171.3% |
| Amounts receivable within one year | 40/41 | €247 | €511,038 | +€510,790 | +206672.2% |
| Trade receivables | 40 | €247 | €0 | -€247 | -100.0% |
| Other amounts receivable | 41 | - | €511,038 | +€511,038 | |
| Cash at bank and in hand | 54/58 | €11,198 | €206,724 | +€195,526 | +1746.1% |
| Total equity and liabilities | 10/49 | €731,525 | €908,905 | +€177,380 | +24.2% |
| Equity | 10/15 | €342,174 | €755,063 | +€412,889 | +120.7% |
| Contributions | 10/11 | €118,989 | €118,989 | = | 0.0% |
| Reserves | 13 | €289,150 | €636,074 | +€346,925 | +120.0% |
| Non-distributable reserves | 130/1 | - | €0 | = | |
| Reserves not available under the articles | 1311 | - | €0 | = | |
| Tax-exempt reserves | 132 | €269,441 | €79,527 | -€189,915 | -70.5% |
| Distributable reserves | 133 | €19,708 | €556,548 | +€536,840 | +2724.0% |
| Profit (loss) carried forward | 14 | -€65,964 | €0 | +€65,964 | |
| Provisions and deferred taxes | 16 | €67,360 | €19,882 | -€47,479 | -70.5% |
| Deferred taxes | 168 | €67,360 | €19,882 | -€47,479 | -70.5% |
| Amounts payable | 17/49 | €321,990 | €133,961 | -€188,030 | -58.4% |
| Amounts payable after more than one year | 17 | €303,771 | €66,001 | -€237,770 | -78.3% |
| Financial debts | 170/4 | €71,111 | €57,778 | -€13,333 | -18.7% |
| Other amounts payable | 178/9 | €232,660 | €8,223 | -€224,437 | -96.5% |
| Amounts payable within one year | 42/48 | €18,219 | €67,959 | +€49,740 | +273.0% |
| Current portion of amounts payable after more than one year | 42 | €13,333 | €13,333 | = | 0.0% |
| Trade debts | 44 | €1,695 | €411 | -€1,284 | -75.7% |
| Suppliers | 440/4 | €1,695 | €411 | -€1,284 | -75.7% |
| Taxes, remuneration and social security | 45 | €759 | €51,710 | +€50,951 | +6715.6% |
| Taxes | 450/3 | €759 | €51,710 | +€50,951 | +6715.6% |
| Other amounts payable | 47/48 | €2,432 | €2,505 | +€73 | +3.0% |
| Non-recurring operating income | 76A | - | €637,680 | +€637,680 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,745 | €6,617 | -€18,128 | -73.3% |
| Other operating charges | 640/8 | €9,151 | €13,713 | +€4,562 | +49.8% |
| Gross operating margin | 9900 | €26,977 | €581,248 | +€554,271 | +2054.6% |
| Operating profit (loss) | 9901 | -€6,920 | €560,919 | +€567,838 | |
| Financial income | 75/76B | €28 | €12,074 | +€12,046 | +42730.3% |
| Recurring financial income | 75 | €28 | €12,074 | +€12,046 | +42730.3% |
| Financial charges | 65/66B | €12,221 | €6,254 | -€5,967 | -48.8% |
| Recurring financial charges | 65 | €12,221 | €6,254 | -€5,967 | -48.8% |
| Profit (loss) for the period before taxes | 9903 | -€19,112 | €566,738 | +€585,851 | |
| Transfer from deferred taxes | 780 | €2,623 | €47,479 | +€44,856 | +1710.3% |
| Income taxes | 67/77 | - | €201,328 | +€201,328 | |
| Profit (loss) for the period | 9904 | -€16,490 | €412,889 | +€429,379 | |
| Transfer from tax-exempt reserves | 789 | €10,491 | €189,915 | +€179,424 | +1710.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,999 | €602,804 | +€608,803 |
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 4 October 2026 via checked.be.