C.S.I.: 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.I.
Largest movements
- Receivables within one year +€79,067
up €79,067 (+35.0%), from €226,129 to €305,196
of which Trade receivables: +€87,167
- Cash -€21,800
down €21,800 (-93.5%), from €23,316 to €1,516
mainly Receivables within one year (-€79,067) and Investment in fixed assets (net) (-€4,115)
- Stocks and contracts -€4,578
down €4,578 (-46.6%), from €9,821 to €5,242
- Trade debts +€33,473
up €33,473 (+51.2%), from €65,349 to €98,823
- Reserves +€23,202
up €23,202 (+17.4%), from €133,281 to €156,482
- Gross operating margin +€34,901
up €34,901 (+22.4%), from €155,508 to €190,409
- Staff costs +€15,430
up €15,430 (+12.5%), from €123,123 to €138,553
- Financial charges +€5,295
up €5,295 (+207%), from €2,564 to €7,859
- Taxes +€2,685
up €2,685 (+33.3%), from €8,061 to €10,746
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 | €282,703 | €336,556 | +€53,853 | +19.0% |
| Fixed assets | 21/28 | €22,909 | €22,654 | -€254 | -1.1% |
| Intangible fixed assets | 21 | €71 | €0 | -€71 | -100% |
| Tangible fixed assets | 22/27 | €14,821 | €14,638 | -€183 | -1.2% |
| Land and buildings | 22 | - | €2,889 | +€2,889 | |
| Plant, machinery and equipment | 23 | €3,639 | €2,986 | -€653 | -17.9% |
| Furniture and vehicles | 24 | €11,182 | €8,763 | -€2,419 | -21.6% |
| Financial fixed assets | 28 | €8,016 | €8,016 | = | 0.0% |
| Current assets | 29/58 | €259,794 | €313,902 | +€54,108 | +20.8% |
| Stocks and contracts in progress | 3 | €9,821 | €5,242 | -€4,578 | -46.6% |
| Stocks | 30/36 | €9,821 | €5,242 | -€4,578 | -46.6% |
| Amounts receivable within one year | 40/41 | €226,129 | €305,196 | +€79,067 | +35.0% |
| Trade receivables | 40 | €215,374 | €302,541 | +€87,167 | +40.5% |
| Other amounts receivable | 41 | €10,755 | €2,656 | -€8,100 | -75.3% |
| Cash at bank and in hand | 54/58 | €23,316 | €1,516 | -€21,800 | -93.5% |
| Deferred charges and accrued income | 490/1 | €529 | €1,947 | +€1,418 | +268% |
| Total equity and liabilities | 10/49 | €282,703 | €336,556 | +€53,853 | +19.0% |
| Equity | 10/15 | €151,881 | €175,082 | +€23,202 | +15.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €133,281 | €156,482 | +€23,202 | +17.4% |
| Distributable reserves | 133 | €133,281 | €156,482 | +€23,202 | +17.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €130,822 | €161,473 | +€30,651 | +23.4% |
| Amounts payable after more than one year | 17 | €2,937 | €1,433 | -€1,504 | -51.2% |
| Financial debts | 170/4 | €2,937 | €1,433 | -€1,504 | -51.2% |
| Amounts payable within one year | 42/48 | €125,493 | €157,771 | +€32,278 | +25.7% |
| Current portion of amounts payable after more than one year | 42 | €5,938 | €4,004 | -€1,934 | -32.6% |
| Trade debts | 44 | €65,349 | €98,823 | +€33,473 | +51.2% |
| Suppliers | 440/4 | €65,349 | €98,823 | +€33,473 | +51.2% |
| Taxes, remuneration and social security | 45 | €20,213 | €23,002 | +€2,789 | +13.8% |
| Taxes | 450/3 | €16,548 | €18,787 | +€2,238 | +13.5% |
| Remuneration and social security | 454/9 | €3,665 | €4,215 | +€550 | +15.0% |
| Other amounts payable | 47/48 | €33,992 | €31,942 | -€2,050 | -6.0% |
| Accrued charges and deferred income | 492/3 | €2,392 | €2,270 | -€122 | -5.1% |
| Remuneration, social security and pensions | 62 | €123,123 | €138,553 | +€15,430 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,655 | €4,369 | +€714 | +19.5% |
| Other operating charges | 640/8 | €4,775 | €4,155 | -€620 | -13.0% |
| Gross operating margin | 9900 | €155,508 | €190,409 | +€34,901 | +22.4% |
| Operating profit (loss) | 9901 | €23,955 | €43,332 | +€19,377 | +80.9% |
| Financial income | 75/76B | €98 | €141 | +€43 | +43.5% |
| Recurring financial income | 75 | €98 | €141 | +€43 | +43.5% |
| Financial charges | 65/66B | €2,564 | €7,859 | +€5,295 | +207% |
| Recurring financial charges | 65 | €2,564 | €7,859 | +€5,295 | +207% |
| Profit (loss) for the period before taxes | 9903 | €21,489 | €35,613 | +€14,124 | +65.7% |
| Income taxes | 67/77 | €8,061 | €10,746 | +€2,685 | +33.3% |
| Profit (loss) for the period | 9904 | €13,429 | €24,868 | +€11,439 | +85.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,429 | €24,868 | +€11,439 | +85.2% |
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 23 October 2026 via checked.be.