C.S.S.: 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.S.
Largest movements
- Receivables after one year +€1.8m
new in 2025: €1.8m
- Receivables within one year -€1.6m
down €1.6m (-92.5%), from €1.7m to €127,478
of which Other amounts receivable: -€1.6m
- Financial fixed assets -€117,652
down €117,652 (-83.5%), from €140,831 to €23,179
- Cash -€104,048
down €104,048 (-80.9%), from €128,621 to €24,573
mainly Receivables after one year (-€1.8m) and Current portion of long-term debt (-€37,050)
- Tangible fixed assets -€34,729
down €34,729 (-10.9%), from €318,991 to €284,262
- Current portion of long-term debt -€37,050
down €37,050 (-83.4%), from €44,407 to €7,357
- Profit (loss) carried forward -€31,532
down €31,532 (-3.6%), from €874,704 to €843,172
- Gross operating margin -€26,899
down €26,899, from €17,499 to -€9,400
- Financial charges +€17,761
up €17,761 (+67.0%), from €26,524 to €44,285
- Financial income -€8,652
down €8,652 (-12.5%), from €69,462 to €60,810
- Taxes -€4,496
down €4,496 (-98.8%), from €4,552 to €56
- Other operating charges +€302
up €302 (+8.5%), from €3,570 to €3,872
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 | €2,308,396 | €2,238,105 | -€70,291 | -3.0% |
| Fixed assets | 21/28 | €459,822 | €307,441 | -€152,381 | -33.1% |
| Tangible fixed assets | 22/27 | €318,991 | €284,262 | -€34,729 | -10.9% |
| Land and buildings | 22 | €249,545 | €240,000 | -€9,545 | -3.8% |
| Plant, machinery and equipment | 23 | €45,374 | €30,096 | -€15,278 | -33.7% |
| Furniture and vehicles | 24 | €24,072 | €14,166 | -€9,906 | -41.2% |
| Financial fixed assets | 28 | €140,831 | €23,179 | -€117,652 | -83.5% |
| Current assets | 29/58 | €1,848,574 | €1,930,664 | +€82,090 | +4.4% |
| Amounts receivable after more than one year | 29 | - | €1,758,976 | +€1.8m | |
| Other amounts receivable | 291 | - | €1,758,976 | +€1.8m | |
| Amounts receivable within one year | 40/41 | €1,700,119 | €127,478 | -€1.6m | -92.5% |
| Trade receivables | 40 | €18,150 | €24,200 | +€6,050 | +33.3% |
| Other amounts receivable | 41 | €1,681,969 | €103,278 | -€1.6m | -93.9% |
| Cash at bank and in hand | 54/58 | €128,621 | €24,573 | -€104,048 | -80.9% |
| Deferred charges and accrued income | 490/1 | €19,834 | €19,637 | -€197 | -1.0% |
| Total equity and liabilities | 10/49 | €2,308,396 | €2,238,105 | -€70,291 | -3.0% |
| Equity | 10/15 | €1,635,163 | €1,603,631 | -€31,532 | -1.9% |
| Contributions | 10/11 | €690,200 | €690,200 | = | 0.0% |
| Reserves | 13 | €70,259 | €70,259 | = | 0.0% |
| Non-distributable reserves | 130/1 | €70,259 | - | -€70,259 | |
| Reserves not available under the articles | 1311 | €70,259 | - | -€70,259 | |
| Distributable reserves | 133 | - | €70,259 | +€70,259 | |
| Profit (loss) carried forward | 14 | €874,704 | €843,172 | -€31,532 | -3.6% |
| Amounts payable | 17/49 | €673,233 | €634,474 | -€38,759 | -5.8% |
| Amounts payable after more than one year | 17 | €2,258 | - | -€2,258 | |
| Financial debts | 170/4 | €2,258 | - | -€2,258 | |
| Amounts payable within one year | 42/48 | €628,563 | €590,221 | -€38,342 | -6.1% |
| Current portion of amounts payable after more than one year | 42 | €44,407 | €7,357 | -€37,050 | -83.4% |
| Trade debts | 44 | €11,591 | €9,368 | -€2,223 | -19.2% |
| Suppliers | 440/4 | €11,591 | €9,368 | -€2,223 | -19.2% |
| Taxes, remuneration and social security | 45 | €1,232 | €4,055 | +€2,823 | +229% |
| Taxes | 450/3 | €1,232 | €4,055 | +€2,823 | +229% |
| Other amounts payable | 47/48 | €571,333 | €569,441 | -€1,892 | -0.3% |
| Accrued charges and deferred income | 492/3 | €42,412 | €44,253 | +€1,841 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,729 | €34,729 | = | 0.0% |
| Other operating charges | 640/8 | €3,570 | €3,872 | +€302 | +8.5% |
| Gross operating margin | 9900 | €17,499 | -€9,400 | -€26,899 | |
| Operating profit (loss) | 9901 | -€20,800 | -€48,001 | -€27,201 | -131% |
| Financial income | 75/76B | €69,462 | €60,810 | -€8,652 | -12.5% |
| Recurring financial income | 75 | €69,462 | €60,810 | -€8,652 | -12.5% |
| Financial charges | 65/66B | €26,524 | €44,285 | +€17,761 | +67.0% |
| Recurring financial charges | 65 | €26,524 | €44,285 | +€17,761 | +67.0% |
| Profit (loss) for the period before taxes | 9903 | €22,138 | -€31,476 | -€53,614 | |
| Income taxes | 67/77 | €4,552 | €56 | -€4,496 | -98.8% |
| Profit (loss) for the period | 9904 | €17,586 | -€31,532 | -€49,118 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,586 | -€31,532 | -€49,118 |
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 14 October 2026 via checked.be.