C.S.B.: 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.
What changed
C.S.B.
NACE 33.200, Installation of industrial machinery and equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€245,466
2024 · €157,717+€87,749
Equity
€2.4m
2024 · €2.3m+€45,466
Cash
€2.5m
2024 · €2.4m+€73,847
Balance sheet total
€3.1m
2024 · €2.7m+€401,665
Largest movements
Assets
- Receivables within one year +€353,616
up €353,616 (+147%), from €240,551 to €594,167
of which Other amounts receivable: +€340,404
- Cash +€73,847
up €73,847 (+3.1%), from €2.4m to €2.5m
mainly Net result for the year (+€245,466) and Trade debts (+€169,994)
Equity and liabilities
- Trade debts +€169,994
up €169,994 (+607%), from €27,995 to €197,990
- Other debts +€122,080
up €122,080 (+65.0%), from €187,805 to €309,885
- Advances received +€70,775
up €70,775, from €0 to €70,775
- Reserves +€45,466
up €45,466 (+2.1%), from €2.2m to €2.2m
of which Distributable reserves: +€45,466
Income statement
- Gross operating margin +€98,089
up €98,089 (+76.1%), from €128,881 to €226,969
- Taxes +€9,868
up €9,868 (+130%), from €7,611 to €17,479
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.
Result 2024
€157,717
Gross operating margin
+€98,089
Depreciation
-€1,307
Other operating charges
+€311
Financial income
-€815
Financial charges
+€1,339
Taxes
-€9,868
Result 2025
€245,466
raises the resultlowers the result
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.
From operations
+€283,958
Investment
-€3,473
Financing
-€206,638
Cash 2024
€2.4m
From operations (derived)
+€283,958
Net result for the year
+€245,466
Depreciation
+€28,715
Receivables within one year
-€353,616
Smaller working-capital items
+€545
Trade debts
+€169,994
Advances received
+€70,775
Other debts
+€122,080
Investment (derived)
-€3,473
Investment in fixed assets (net)
-€3,473
Financing
-€206,638
Debts after one year
-€6,940
Current portion of long-term debt
+€303
Short-term financial debts
-€1
Contributions, distributions and other
-€200,000
Cash 2025
€2.5m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,697,823 | €3,099,488 | +€401,665 | +14.9% |
| Fixed assets | 21/28 | €63,698 | €38,455 | -€25,242 | -39.6% |
| Tangible fixed assets | 22/27 | €63,448 | €37,705 | -€25,742 | -40.6% |
| Land and buildings | 22 | €3,321 | €2,557 | -€763 | -23.0% |
| Plant, machinery and equipment | 23 | €5,108 | €2,791 | -€2,317 | -45.4% |
| Furniture and vehicles | 24 | €55,019 | €32,357 | -€22,662 | -41.2% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €250 | €750 | +€500 | +200% |
| Current assets | 29/58 | €2,634,125 | €3,061,032 | +€426,907 | +16.2% |
| Amounts receivable within one year | 40/41 | €240,551 | €594,167 | +€353,616 | +147% |
| Trade receivables | 40 | €18,805 | €32,018 | +€13,213 | +70.3% |
| Other amounts receivable | 41 | €221,746 | €562,149 | +€340,404 | +154% |
| Cash at bank and in hand | 54/58 | €2,390,396 | €2,464,243 | +€73,847 | +3.1% |
| Deferred charges and accrued income | 490/1 | €3,179 | €2,622 | -€556 | -17.5% |
| Total equity and liabilities | 10/49 | €2,697,823 | €3,099,488 | +€401,665 | +14.9% |
| Equity | 10/15 | €2,312,382 | €2,357,848 | +€45,466 | +2.0% |
| Contributions | 10/11 | €130,144 | €130,144 | = | 0.0% |
| Reserves | 13 | €2,182,238 | €2,227,704 | +€45,466 | +2.1% |
| Tax-exempt reserves | 132 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €2,179,738 | €2,225,204 | +€45,466 | +2.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €150,000 | €150,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €150,000 | €150,000 | = | 0.0% |
| Environmental obligations | 163 | €150,000 | €150,000 | = | 0.0% |
| Amounts payable | 17/49 | €235,441 | €591,640 | +€356,199 | +151% |
| Amounts payable after more than one year | 17 | €7,533 | €592 | -€6,940 | -92.1% |
| Financial debts | 170/4 | €7,533 | €592 | -€6,940 | -92.1% |
| Amounts payable within one year | 42/48 | €227,908 | €591,048 | +€363,140 | +159% |
| Current portion of amounts payable after more than one year | 42 | €6,638 | €6,940 | +€303 | +4.6% |
| Financial debts | 43 | €4,409 | €4,408 | -€1 | 0.0% |
| Credit institutions | 430/8 | €4,409 | €4,408 | -€1 | 0.0% |
| Trade debts | 44 | €27,995 | €197,990 | +€169,994 | +607% |
| Suppliers | 440/4 | €27,995 | €197,990 | +€169,994 | +607% |
| Advances received on contracts in progress | 46 | €0 | €70,775 | +€70,775 | |
| Taxes, remuneration and social security | 45 | €1,061 | €1,050 | -€11 | -1.1% |
| Taxes | 450/3 | €1,061 | €1,050 | -€11 | -1.1% |
| Other amounts payable | 47/48 | €187,805 | €309,885 | +€122,080 | +65.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,408 | €28,715 | +€1,307 | +4.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €3,556 | €3,245 | -€311 | -8.7% |
| Gross operating margin | 9900 | €128,881 | €226,969 | +€98,089 | +76.1% |
| Operating profit (loss) | 9901 | €97,918 | €195,010 | +€97,092 | +99.2% |
| Financial income | 75/76B | €73,339 | €72,524 | -€815 | -1.1% |
| Recurring financial income | 75 | €71,529 | €72,524 | +€995 | +1.4% |
| Non-recurring financial income | 76B | €1,810 | €0 | -€1,810 | -100% |
| Financial charges | 65/66B | €5,929 | €4,590 | -€1,339 | -22.6% |
| Recurring financial charges | 65 | €5,929 | €4,590 | -€1,339 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €165,328 | €262,944 | +€97,617 | +59.0% |
| Income taxes | 67/77 | €7,611 | €17,479 | +€9,868 | +130% |
| Profit (loss) for the period | 9904 | €157,717 | €245,466 | +€87,749 | +55.6% |
| Profit (loss) for the period to be appropriated | 9905 | €157,717 | €245,466 | +€87,749 | +55.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.