C SYSTEMS: 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 SYSTEMS
Largest movements
- Stocks and contracts +€478,956
up €478,956 (+191.3%), from €250,378 to €729,334
- Tangible fixed assets -€170,290
down €170,290 (-30.1%), from €565,983 to €395,693
of which Furniture and vehicles: -€120,663
- Cash -€155,445
down €155,445 (-21.7%), from €715,647 to €560,203
mainly Stocks and contracts (-€478,956) and Accrued charges and deferred income (-€303,245)
- Receivables within one year +€118,333
up €118,333 (+4.5%), from €2.6m to €2.7m
of which Other amounts receivable: +€147,482
- Deferred charges and accrued income -€72,082
down €72,082 (-81.0%), from €89,002 to €16,920
- Accrued charges and deferred income -€303,245
down €303,245 (-35.6%), from €851,193 to €547,948
- Debts after one year +€261,789
up €261,789 (+317.6%), from €82,420 to €344,209
- Trade debts +€170,171
up €170,171 (+14.0%), from €1.2m to €1.4m
- Reserves +€155,817
up €155,817 (+11.0%), from €1.4m to €1.6m
of which Distributable reserves: +€157,677
- Gross operating margin -€979,750
down €979,750 (-29.3%), from €3.3m to €2.4m
- Staff costs -€660,488
down €660,488 (-26.7%), from €2.5m to €1.8m
- Depreciation -€109,595
down €109,595 (-33.4%), from €327,936 to €218,341
- Taxes -€68,732
down €68,732 (-50.9%), from €135,047 to €66,315
- Other operating charges +€46,322
up €46,322 (+126.3%), from €36,677 to €82,999
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 | €4,268,934 | €4,526,747 | +€257,813 | +6.0% |
| Fixed assets | 21/28 | €597,110 | €485,160 | -€111,950 | -18.7% |
| Intangible fixed assets | 21 | €31,127 | €89,467 | +€58,341 | +187.4% |
| Tangible fixed assets | 22/27 | €565,983 | €395,693 | -€170,290 | -30.1% |
| Plant, machinery and equipment | 23 | €105,010 | €84,110 | -€20,900 | -19.9% |
| Furniture and vehicles | 24 | €337,186 | €216,524 | -€120,663 | -35.8% |
| Other tangible fixed assets | 26 | €123,787 | €95,059 | -€28,728 | -23.2% |
| Current assets | 29/58 | €3,671,824 | €4,041,587 | +€369,763 | +10.1% |
| Stocks and contracts in progress | 3 | €250,378 | €729,334 | +€478,956 | +191.3% |
| Stocks | 30/36 | €250,378 | €729,334 | +€478,956 | +191.3% |
| Amounts receivable within one year | 40/41 | €2,616,797 | €2,735,130 | +€118,333 | +4.5% |
| Trade receivables | 40 | €1,169,032 | €1,139,883 | -€29,149 | -2.5% |
| Other amounts receivable | 41 | €1,447,765 | €1,595,247 | +€147,482 | +10.2% |
| Cash at bank and in hand | 54/58 | €715,647 | €560,203 | -€155,445 | -21.7% |
| Deferred charges and accrued income | 490/1 | €89,002 | €16,920 | -€72,082 | -81.0% |
| Total equity and liabilities | 10/49 | €4,268,934 | €4,526,747 | +€257,813 | +6.0% |
| Equity | 10/15 | €1,422,716 | €1,578,533 | +€155,817 | +11.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,410,316 | €1,566,133 | +€155,817 | +11.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €1,408,456 | €1,566,133 | +€157,677 | +11.2% |
| Amounts payable | 17/49 | €2,846,218 | €2,948,213 | +€101,995 | +3.6% |
| Amounts payable after more than one year | 17 | €82,420 | €344,209 | +€261,789 | +317.6% |
| Financial debts | 170/4 | €82,420 | €344,209 | +€261,789 | +317.6% |
| Amounts payable within one year | 42/48 | €1,912,604 | €2,056,057 | +€143,452 | +7.5% |
| Current portion of amounts payable after more than one year | 42 | €81,952 | €67,647 | -€14,305 | -17.5% |
| Financial debts | 43 | €375,000 | €375,000 | = | 0.0% |
| Credit institutions | 430/8 | €375,000 | €375,000 | = | 0.0% |
| Trade debts | 44 | €1,219,740 | €1,389,912 | +€170,171 | +14.0% |
| Suppliers | 440/4 | €1,219,740 | €1,389,912 | +€170,171 | +14.0% |
| Taxes, remuneration and social security | 45 | €235,912 | €223,498 | -€12,414 | -5.3% |
| Taxes | 450/3 | €32,635 | €28,580 | -€4,055 | -12.4% |
| Remuneration and social security | 454/9 | €203,277 | €194,918 | -€8,359 | -4.1% |
| Accrued charges and deferred income | 492/3 | €851,193 | €547,948 | -€303,245 | -35.6% |
| Non-recurring operating income | 76A | €49,263 | €16,574 | -€32,689 | -66.4% |
| Remuneration, social security and pensions | 62 | €2,476,518 | €1,816,030 | -€660,488 | -26.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €327,936 | €218,341 | -€109,595 | -33.4% |
| Other operating charges | 640/8 | €36,677 | €82,999 | +€46,322 | +126.3% |
| Gross operating margin | 9900 | €3,345,339 | €2,365,588 | -€979,750 | -29.3% |
| Operating profit (loss) | 9901 | €504,208 | €248,219 | -€255,989 | -50.8% |
| Financial income | 75/76B | €23,216 | €8,359 | -€14,857 | -64.0% |
| Recurring financial income | 75 | €23,216 | €8,359 | -€14,857 | -64.0% |
| Financial charges | 65/66B | €45,935 | €34,446 | -€11,489 | -25.0% |
| Recurring financial charges | 65 | €45,935 | €34,446 | -€11,489 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €481,489 | €222,132 | -€259,357 | -53.9% |
| Income taxes | 67/77 | €135,047 | €66,315 | -€68,732 | -50.9% |
| Profit (loss) for the period | 9904 | €346,442 | €155,817 | -€190,625 | -55.0% |
| Profit (loss) for the period to be appropriated | 9905 | €346,442 | €155,817 | -€190,625 | -55.0% |
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 6 October 2026 via checked.be.