C.T.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.T.S.
Largest movements
- Stocks and contracts -€28,510
down €28,510 (-54.1%), from €52,661 to €24,152
- Receivables within one year +€25,234
up €25,234 (+61.4%), from €41,130 to €66,364
of which Trade receivables: +€26,994
- Tangible fixed assets -€24,033
down €24,033 (-2.6%), from €933,568 to €909,535
of which Land and buildings: -€15,583
- Intangible fixed assets -€14,729
no longer reported in 2025 (was €14,729)
- Trade debts -€24,529
down €24,529 (-54.1%), from €45,303 to €20,774
- Gross operating margin +€19,991
up €19,991 (+28.2%), from €70,904 to €90,895
- Depreciation +€14,346
up €14,346 (+43.2%), from €33,214 to €47,560
- Financial charges -€3,489
down €3,489 (-20.8%), from €16,797 to €13,308
- Other operating charges +€3,018
up €3,018 (+24.0%), from €12,586 to €15,604
- Taxes +€1,665
up €1,665 (+54.0%), from €3,082 to €4,747
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 | €1,171,281 | €1,137,455 | -€33,825 | -2.9% |
| Fixed assets | 21/28 | €948,297 | €909,535 | -€38,762 | -4.1% |
| Intangible fixed assets | 21 | €14,729 | - | -€14,729 | |
| Tangible fixed assets | 22/27 | €933,568 | €909,535 | -€24,033 | -2.6% |
| Land and buildings | 22 | €884,198 | €868,615 | -€15,583 | -1.8% |
| Plant, machinery and equipment | 23 | €7,799 | €11,951 | +€4,152 | +53.2% |
| Furniture and vehicles | 24 | €41,571 | €28,968 | -€12,602 | -30.3% |
| Current assets | 29/58 | €222,984 | €227,921 | +€4,937 | +2.2% |
| Stocks and contracts in progress | 3 | €52,661 | €24,152 | -€28,510 | -54.1% |
| Stocks | 30/36 | €52,661 | €24,152 | -€28,510 | -54.1% |
| Amounts receivable within one year | 40/41 | €41,130 | €66,364 | +€25,234 | +61.4% |
| Trade receivables | 40 | €33,930 | €60,925 | +€26,994 | +79.6% |
| Other amounts receivable | 41 | €7,200 | €5,440 | -€1,760 | -24.4% |
| Current investments | 50/53 | €100,351 | €100,786 | +€436 | +0.4% |
| Cash at bank and in hand | 54/58 | €23,075 | €31,008 | +€7,934 | +34.4% |
| Deferred charges and accrued income | 490/1 | €5,767 | €5,610 | -€157 | -2.7% |
| Total equity and liabilities | 10/49 | €1,171,281 | €1,137,455 | -€33,825 | -2.9% |
| Equity | 10/15 | €801,848 | €812,183 | +€10,335 | +1.3% |
| Contributions | 10/11 | €76,000 | €76,000 | = | 0.0% |
| Capital | 10 | €76,000 | €76,000 | = | 0.0% |
| Issued capital | 100 | €76,000 | €76,000 | = | 0.0% |
| Revaluation surpluses | 12 | €668,721 | €668,721 | = | 0.0% |
| Reserves | 13 | €57,128 | €67,463 | +€10,335 | +18.1% |
| Non-distributable reserves | 130/1 | €7,600 | €7,600 | = | 0.0% |
| Legal reserve | 130 | €7,600 | €7,600 | = | 0.0% |
| Distributable reserves | 133 | €49,528 | €59,863 | +€10,335 | +20.9% |
| Amounts payable | 17/49 | €369,432 | €325,272 | -€44,160 | -12.0% |
| Amounts payable after more than one year | 17 | €109,000 | €109,000 | = | 0.0% |
| Financial debts | 170/4 | €109,000 | €109,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €249,360 | €216,272 | -€33,088 | -13.3% |
| Trade debts | 44 | €45,303 | €20,774 | -€24,529 | -54.1% |
| Suppliers | 440/4 | €45,303 | €20,774 | -€24,529 | -54.1% |
| Taxes, remuneration and social security | 45 | €5,964 | €2,712 | -€3,252 | -54.5% |
| Taxes | 450/3 | €4,920 | €2,712 | -€2,209 | -44.9% |
| Remuneration and social security | 454/9 | €1,044 | - | -€1,044 | |
| Other amounts payable | 47/48 | €198,093 | €192,786 | -€5,307 | -2.7% |
| Accrued charges and deferred income | 492/3 | €11,072 | - | -€11,072 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,214 | €47,560 | +€14,346 | +43.2% |
| Other operating charges | 640/8 | €12,586 | €15,604 | +€3,018 | +24.0% |
| Non-recurring operating charges | 66A | €28 | - | -€28 | |
| Gross operating margin | 9900 | €70,904 | €90,895 | +€19,991 | +28.2% |
| Operating profit (loss) | 9901 | €25,076 | €27,730 | +€2,654 | +10.6% |
| Financial income | 75/76B | €507 | €660 | +€153 | +30.1% |
| Recurring financial income | 75 | €507 | €660 | +€153 | +30.1% |
| Financial charges | 65/66B | €16,797 | €13,308 | -€3,489 | -20.8% |
| Recurring financial charges | 65 | €16,797 | €13,308 | -€3,489 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €8,786 | €15,082 | +€6,297 | +71.7% |
| Income taxes | 67/77 | €3,082 | €4,747 | +€1,665 | +54.0% |
| Profit (loss) for the period | 9904 | €5,703 | €10,335 | +€4,632 | +81.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,703 | €10,335 | +€4,632 | +81.2% |
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 26 October 2026 via checked.be.