C.T. BELGIUM: 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.T. BELGIUM
Largest movements
- Cash -€73,460
down €73,460 (-56.2%), from €130,647 to €57,187
mainly Net result for the year (-€51,238) and Other debts (-€40,000)
- Receivables within one year -€16,752
down €16,752 (-17.6%), from €95,021 to €78,269
of which Trade receivables: -€29,159
- Profit (loss) carried forward -€51,238
down €51,238 (-60.5%), from €84,737 to €33,500
- Other debts -€40,000
down €40,000 (-100%), from €40,000 to €0
- Gross operating margin -€105,495
down €105,495 (-90.4%), from €116,683 to €11,188
- Taxes -€14,164
down €14,164 (-100%), from €14,164 to €0
- Staff costs +€1,563
up €1,563 (+2.8%), from €56,275 to €57,837
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 | €241,387 | €152,774 | -€88,613 | -36.7% |
| Fixed assets | 21/28 | €11,905 | €11,978 | +€73 | +0.6% |
| Intangible fixed assets | 21 | €3,267 | €1,438 | -€1,829 | -56.0% |
| Tangible fixed assets | 22/27 | €3,025 | €4,852 | +€1,827 | +60.4% |
| Plant, machinery and equipment | 23 | - | €1,852 | +€1,852 | |
| Furniture and vehicles | 24 | €25 | €0 | -€25 | -100% |
| Other tangible fixed assets | 26 | €3,000 | €3,000 | = | 0.0% |
| Financial fixed assets | 28 | €5,613 | €5,688 | +€74 | +1.3% |
| Current assets | 29/58 | €229,482 | €140,796 | -€88,686 | -38.6% |
| Amounts receivable within one year | 40/41 | €95,021 | €78,269 | -€16,752 | -17.6% |
| Trade receivables | 40 | €75,969 | €46,810 | -€29,159 | -38.4% |
| Other amounts receivable | 41 | €19,052 | €31,459 | +€12,407 | +65.1% |
| Cash at bank and in hand | 54/58 | €130,647 | €57,187 | -€73,460 | -56.2% |
| Deferred charges and accrued income | 490/1 | €3,814 | €5,340 | +€1,526 | +40.0% |
| Total equity and liabilities | 10/49 | €241,387 | €152,774 | -€88,613 | -36.7% |
| Equity | 10/15 | €152,937 | €101,700 | -€51,238 | -33.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €84,737 | €33,500 | -€51,238 | -60.5% |
| Amounts payable | 17/49 | €88,450 | €51,074 | -€37,375 | -42.3% |
| Amounts payable within one year | 42/48 | €88,450 | €51,074 | -€37,375 | -42.3% |
| Trade debts | 44 | €38,867 | €41,112 | +€2,245 | +5.8% |
| Suppliers | 440/4 | €38,867 | €41,112 | +€2,245 | +5.8% |
| Taxes, remuneration and social security | 45 | €9,582 | €9,962 | +€380 | +4.0% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €9,582 | €9,962 | +€380 | +4.0% |
| Other amounts payable | 47/48 | €40,000 | €0 | -€40,000 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €56,275 | €57,837 | +€1,563 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,639 | €1,975 | +€336 | +20.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €626 | +€626 | |
| Other operating charges | 640/8 | €2,435 | €1,878 | -€557 | -22.9% |
| Gross operating margin | 9900 | €116,683 | €11,188 | -€105,495 | -90.4% |
| Operating profit (loss) | 9901 | €56,333 | -€51,130 | -€107,463 | |
| Financial income | 75/76B | €61 | €107 | +€46 | +75.7% |
| Recurring financial income | 75 | €61 | €107 | +€46 | +75.7% |
| Financial charges | 65/66B | €216 | €214 | -€2 | -0.7% |
| Recurring financial charges | 65 | €216 | €214 | -€2 | -0.7% |
| Profit (loss) for the period before taxes | 9903 | €56,178 | -€51,238 | -€107,416 | |
| Income taxes | 67/77 | €14,164 | €0 | -€14,164 | -100% |
| Profit (loss) for the period | 9904 | €42,014 | -€51,238 | -€93,252 | |
| Profit (loss) for the period to be appropriated | 9905 | €42,014 | -€51,238 | -€93,252 |
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 25 October 2026 via checked.be.