C.&W. Gestion: 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.&W. Gestion
Largest movements
- Tangible fixed assets +€293,723
up €293,723 (+41.3%), from €710,337 to €1.0m
of which Land and buildings: +€193,443
- Cash -€40,441
down €40,441 (-34.1%), from €118,439 to €77,998
mainly Investment in fixed assets (net) (-€380,958) and Contributions, distributions and other (-€60,000)
- Receivables within one year -€22,024
down €22,024 (-9.5%), from €232,241 to €210,218
of which Other amounts receivable: -€47,204
- Debts after one year +€153,906
up €153,906 (+24.5%), from €628,001 to €781,907
of which Financial debts: +€139,085
- Profit (loss) carried forward +€60,764
up €60,764 (+30.6%), from €198,287 to €259,051
- Investment grants -€60,000
down €60,000 (-66.7%), from €90,000 to €30,000
- Trade debts +€51,507
up €51,507 (+84.4%), from €61,027 to €112,534
- Other debts +€27,241
up €27,241 (+987%), from €2,759 to €30,000
- Purchases and services -€531,787
down €531,787 (-100%), from €531,787 to €0
- Gross operating margin +€39,285
up €39,285 (+7.7%), from €509,148 to €548,434
- Staff costs -€19,927
down €19,927 (-6.1%), from €328,359 to €308,433
- Financial charges +€9,884
up €9,884 (+39.6%), from €24,940 to €34,824
- Taxes +€7,733
up €7,733 (+452%), from €1,710 to €9,443
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 | €1,108,475 | €1,330,434 | +€221,960 | +20.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €739,362 | €1,017,128 | +€277,766 | +37.6% |
| Intangible fixed assets | 21 | €16,000 | €12,000 | -€4,000 | -25.0% |
| Tangible fixed assets | 22/27 | €710,337 | €1,004,060 | +€293,723 | +41.3% |
| Land and buildings | 22 | €684,995 | €878,438 | +€193,443 | +28.2% |
| Plant, machinery and equipment | 23 | €20,534 | €15,118 | -€5,417 | -26.4% |
| Furniture and vehicles | 24 | €4,707 | €897 | -€3,811 | -80.9% |
| Other tangible fixed assets | 26 | €100 | €0 | -€100 | -100% |
| Assets under construction and advance payments | 27 | - | €109,607 | +€109,607 | |
| Financial fixed assets | 28 | €13,025 | €1,068 | -€11,957 | -91.8% |
| Current assets | 29/58 | €369,113 | €313,307 | -€55,806 | -15.1% |
| Stocks and contracts in progress | 3 | €17,611 | €17,750 | +€138 | +0.8% |
| Stocks | 30/36 | €17,611 | €17,750 | +€138 | +0.8% |
| Amounts receivable within one year | 40/41 | €232,241 | €210,218 | -€22,024 | -9.5% |
| Trade receivables | 40 | €70,130 | €95,311 | +€25,181 | +35.9% |
| Other amounts receivable | 41 | €162,111 | €114,907 | -€47,204 | -29.1% |
| Cash at bank and in hand | 54/58 | €118,439 | €77,998 | -€40,441 | -34.1% |
| Deferred charges and accrued income | 490/1 | €822 | €7,342 | +€6,520 | +793% |
| Total equity and liabilities | 10/49 | €1,108,475 | €1,330,434 | +€221,960 | +20.0% |
| Equity | 10/15 | €302,147 | €302,911 | +€764 | +0.3% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €198,287 | €259,051 | +€60,764 | +30.6% |
| Investment grants | 15 | €90,000 | €30,000 | -€60,000 | -66.7% |
| Amounts payable | 17/49 | €806,328 | €1,027,524 | +€221,196 | +27.4% |
| Amounts payable after more than one year | 17 | €628,001 | €781,907 | +€153,906 | +24.5% |
| Financial debts | 170/4 | €615,001 | €754,086 | +€139,085 | +22.6% |
| Trade debts | 175 | €13,000 | €27,821 | +€14,821 | +114% |
| Amounts payable within one year | 42/48 | €178,326 | €245,617 | +€67,290 | +37.7% |
| Current portion of amounts payable after more than one year | 42 | €61,161 | €64,361 | +€3,200 | +5.2% |
| Trade debts | 44 | €61,027 | €112,534 | +€51,507 | +84.4% |
| Suppliers | 440/4 | €61,027 | €112,534 | +€51,507 | +84.4% |
| Taxes, remuneration and social security | 45 | €53,379 | €38,721 | -€14,658 | -27.5% |
| Taxes | 450/3 | €13,035 | €24,051 | +€11,017 | +84.5% |
| Remuneration and social security | 454/9 | €40,345 | €14,670 | -€25,675 | -63.6% |
| Other amounts payable | 47/48 | €2,759 | €30,000 | +€27,241 | +987% |
| Accrued charges and deferred income | 492/3 | €0 | €0 | = | |
| Turnover | 70 | - | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €531,787 | €0 | -€531,787 | -100% |
| Remuneration, social security and pensions | 62 | €328,359 | €308,433 | -€19,927 | -6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,961 | €103,192 | +€5,231 | +5.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €22,983 | €27,177 | +€4,195 | +18.3% |
| Other operating charges | 640/8 | €15,375 | €7,721 | -€7,654 | -49.8% |
| Gross operating margin | 9900 | €509,148 | €548,434 | +€39,285 | +7.7% |
| Operating profit (loss) | 9901 | €44,470 | €101,911 | +€57,441 | +129% |
| Financial income | 75/76B | €131 | €3,120 | +€2,989 | +2,281% |
| Recurring financial income | 75 | €131 | €3,120 | +€2,989 | +2,281% |
| Financial charges | 65/66B | €24,940 | €34,824 | +€9,884 | +39.6% |
| Recurring financial charges | 65 | €24,940 | €34,824 | +€9,884 | +39.6% |
| Profit (loss) for the period before taxes | 9903 | €19,662 | €70,207 | +€50,545 | +257% |
| Income taxes | 67/77 | €1,710 | €9,443 | +€7,733 | +452% |
| Profit (loss) for the period | 9904 | €17,951 | €60,764 | +€42,813 | +238% |
| Profit (loss) for the period to be appropriated | 9905 | €17,951 | €60,764 | +€42,813 | +238% |
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 27 October 2026 via checked.be.