C2GROW: 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.
C2GROW
Largest movements
- Cash +€35,087
up €35,087 (+12.6%), from €278,515 to €313,602
mainly Net result for the year (+€113,745) and Depreciation (+€2,956)
- Reserves +€42,100
up €42,100 (+33.3%), from €126,300 to €168,400
of which Distributable reserves: +€84,200
- Tax, wage and social debts -€34,050
down €34,050 (-62.0%), from €54,918 to €20,868
- Profit (loss) carried forward +€30,469
up €30,469 (+21.2%), from €143,925 to €174,394
- Gross operating margin -€5,391
down €5,391 (-3.5%), from €153,588 to €148,196
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 | €331,144 | €368,810 | +€37,666 | +11.4% |
| Fixed assets | 21/28 | €12,329 | €10,998 | -€1,331 | -10.8% |
| Tangible fixed assets | 22/27 | €7,329 | €5,998 | -€1,331 | -18.2% |
| Plant, machinery and equipment | 23 | €1,017 | €648 | -€369 | -36.3% |
| Furniture and vehicles | 24 | €2,308 | €2,266 | -€42 | -1.8% |
| Other tangible fixed assets | 26 | €4,004 | €3,084 | -€920 | -23.0% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €318,815 | €357,812 | +€38,997 | +12.2% |
| Amounts receivable within one year | 40/41 | €33,735 | €36,819 | +€3,084 | +9.1% |
| Trade receivables | 40 | €1,051 | €1,532 | +€481 | +45.8% |
| Other amounts receivable | 41 | €32,685 | €35,288 | +€2,603 | +8.0% |
| Cash at bank and in hand | 54/58 | €278,515 | €313,602 | +€35,087 | +12.6% |
| Deferred charges and accrued income | 490/1 | €6,565 | €7,391 | +€826 | +12.6% |
| Total equity and liabilities | 10/49 | €331,144 | €368,810 | +€37,666 | +11.4% |
| Equity | 10/15 | €275,225 | €347,794 | +€72,569 | +26.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €126,300 | €168,400 | +€42,100 | +33.3% |
| Tax-exempt reserves | 132 | €126,300 | €84,200 | -€42,100 | -33.3% |
| Distributable reserves | 133 | - | €84,200 | +€84,200 | |
| Profit (loss) carried forward | 14 | €143,925 | €174,394 | +€30,469 | +21.2% |
| Amounts payable | 17/49 | €55,919 | €21,017 | -€34,903 | -62.4% |
| Amounts payable within one year | 42/48 | €55,919 | €21,017 | -€34,903 | -62.4% |
| Trade debts | 44 | €1,001 | €149 | -€852 | -85.2% |
| Suppliers | 440/4 | €1,001 | €149 | -€852 | -85.2% |
| Taxes, remuneration and social security | 45 | €54,918 | €20,868 | -€34,050 | -62.0% |
| Taxes | 450/3 | €54,918 | €20,868 | -€34,050 | -62.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,774 | €2,956 | +€183 | +6.6% |
| Other operating charges | 640/8 | €64 | €465 | +€402 | +629.5% |
| Gross operating margin | 9900 | €153,588 | €148,196 | -€5,391 | -3.5% |
| Operating profit (loss) | 9901 | €150,750 | €144,775 | -€5,976 | -4.0% |
| Financial income | 75/76B | €1,879 | €2,607 | +€729 | +38.8% |
| Recurring financial income | 75 | €1,879 | €2,607 | +€729 | +38.8% |
| Financial charges | 65/66B | €1,494 | €1,612 | +€119 | +7.9% |
| Recurring financial charges | 65 | €1,494 | €1,612 | +€119 | +7.9% |
| Profit (loss) for the period before taxes | 9903 | €151,135 | €145,770 | -€5,366 | -3.6% |
| Income taxes | 67/77 | €33,467 | €32,024 | -€1,443 | -4.3% |
| Profit (loss) for the period | 9904 | €117,668 | €113,745 | -€3,923 | -3.3% |
| Transfer from tax-exempt reserves | 789 | - | €84,200 | +€84,200 | |
| Transfer to tax-exempt reserves | 689 | €42,100 | €0 | -€42,100 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €75,568 | €197,945 | +€122,377 | +161.9% |
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 7 October 2026 via checked.be.