C2J2: 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.
C2J2
Largest movements
- Receivables within one year +€125,044
up €125,044 (+137.9%), from €90,691 to €215,734
of which Trade receivables: +€101,729
- Cash -€123,935
down €123,935 (-20.1%), from €617,292 to €493,357
mainly Contributions, distributions and other (-€396,032) and Receivables within one year (-€125,044)
- Tangible fixed assets -€37,676
down €37,676 (-11.7%), from €322,250 to €284,574
of which Other tangible fixed assets: -€21,870
- Trade debts +€373,236
up €373,236 (+493.5%), from €75,627 to €448,863
- Reserves -€312,813
down €312,813 (-48.2%), from €648,795 to €335,982
of which Distributable reserves: -€312,813
- Other debts -€60,000
down €60,000 (-42.9%), from €140,000 to €80,000
- Debts after one year -€26,877
down €26,877 (-79.8%), from €33,670 to €6,792
- Tax, wage and social debts -€13,000
down €13,000 (-14.8%), from €87,669 to €74,669
of which Taxes: -€16,633
- Gross operating margin -€237,747
down €237,747 (-24.5%), from €971,158 to €733,411
- Taxes -€74,994
down €74,994 (-96.9%), from €77,360 to €2,366
- Staff costs -€46,892
down €46,892 (-7.7%), from €610,364 to €563,471
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 | €1,092,346 | €1,061,646 | -€30,700 | -2.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €323,005 | €290,629 | -€32,376 | -10.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €322,250 | €284,574 | -€37,676 | -11.7% |
| Plant, machinery and equipment | 23 | €172,218 | €173,428 | +€1,209 | +0.7% |
| Furniture and vehicles | 24 | €36,370 | €21,232 | -€15,138 | -41.6% |
| Leasing and similar rights | 25 | €1,877 | - | -€1,877 | |
| Other tangible fixed assets | 26 | €111,784 | €89,914 | -€21,870 | -19.6% |
| Financial fixed assets | 28 | €755 | €6,055 | +€5,300 | +702.0% |
| Current assets | 29/58 | €769,342 | €771,017 | +€1,676 | +0.2% |
| Stocks and contracts in progress | 3 | €8,685 | €8,362 | -€323 | -3.7% |
| Stocks | 30/36 | €8,685 | €8,362 | -€323 | -3.7% |
| Amounts receivable within one year | 40/41 | €90,691 | €215,734 | +€125,044 | +137.9% |
| Trade receivables | 40 | €23,070 | €124,800 | +€101,729 | +441.0% |
| Other amounts receivable | 41 | €67,620 | €90,935 | +€23,314 | +34.5% |
| Current investments | 50/53 | €50,300 | €50,300 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €617,292 | €493,357 | -€123,935 | -20.1% |
| Deferred charges and accrued income | 490/1 | €2,374 | €3,263 | +€890 | +37.5% |
| Total equity and liabilities | 10/49 | €1,092,346 | €1,061,646 | -€30,700 | -2.8% |
| Equity | 10/15 | €717,345 | €404,532 | -€312,813 | -43.6% |
| Contributions | 10/11 | €68,550 | €68,550 | = | 0.0% |
| Capital | 10 | €68,550 | €68,550 | = | 0.0% |
| Issued capital | 100 | €68,550 | €68,550 | = | 0.0% |
| Reserves | 13 | €648,795 | €335,982 | -€312,813 | -48.2% |
| Non-distributable reserves | 130/1 | €6,855 | €6,855 | = | 0.0% |
| Legal reserve | 130 | €6,855 | €6,855 | = | 0.0% |
| Distributable reserves | 133 | €641,940 | €329,127 | -€312,813 | -48.7% |
| Amounts payable | 17/49 | €375,002 | €657,115 | +€282,113 | +75.2% |
| Amounts payable after more than one year | 17 | €33,670 | €6,792 | -€26,877 | -79.8% |
| Financial debts | 170/4 | €33,670 | €6,792 | -€26,877 | -79.8% |
| Amounts payable within one year | 42/48 | €330,930 | €631,159 | +€300,229 | +90.7% |
| Current portion of amounts payable after more than one year | 42 | €26,416 | €26,877 | +€461 | +1.7% |
| Trade debts | 44 | €75,627 | €448,863 | +€373,236 | +493.5% |
| Suppliers | 440/4 | €75,627 | €448,863 | +€373,236 | +493.5% |
| Advances received on contracts in progress | 46 | €1,218 | €750 | -€468 | -38.4% |
| Taxes, remuneration and social security | 45 | €87,669 | €74,669 | -€13,000 | -14.8% |
| Taxes | 450/3 | €39,375 | €22,743 | -€16,633 | -42.2% |
| Remuneration and social security | 454/9 | €48,293 | €51,926 | +€3,633 | +7.5% |
| Other amounts payable | 47/48 | €140,000 | €80,000 | -€60,000 | -42.9% |
| Accrued charges and deferred income | 492/3 | €10,402 | €19,163 | +€8,761 | +84.2% |
| Non-recurring operating income | 76A | €46,019 | - | -€46,019 | |
| Remuneration, social security and pensions | 62 | €610,364 | €563,471 | -€46,892 | -7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,128 | €88,794 | -€6,333 | -6.7% |
| Other operating charges | 640/8 | €2,154 | €2,184 | +€30 | +1.4% |
| Non-recurring operating charges | 66A | €46,019 | - | -€46,019 | |
| Gross operating margin | 9900 | €971,158 | €733,411 | -€237,747 | -24.5% |
| Operating profit (loss) | 9901 | €217,493 | €78,961 | -€138,532 | -63.7% |
| Financial income | 75/76B | €13,339 | €15,121 | +€1,782 | +13.4% |
| Recurring financial income | 75 | €13,096 | €3,116 | -€9,980 | -76.2% |
| Non-recurring financial income | 76B | €244 | €12,005 | +€11,761 | +4828.2% |
| Financial charges | 65/66B | €9,663 | €8,498 | -€1,166 | -12.1% |
| Recurring financial charges | 65 | €9,663 | €8,498 | -€1,166 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €221,170 | €85,585 | -€135,585 | -61.3% |
| Income taxes | 67/77 | €77,360 | €2,366 | -€74,994 | -96.9% |
| Profit (loss) for the period | 9904 | €143,809 | €83,219 | -€60,591 | -42.1% |
| Profit (loss) for the period to be appropriated | 9905 | €143,809 | €83,219 | -€60,591 | -42.1% |
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.