C3: 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.
C3
Largest movements
- Tangible fixed assets -€11,103
down €11,103 (-19.0%), from €58,286 to €47,183
- Receivables within one year -€4,787
down €4,787 (-26.0%), from €18,410 to €13,623
of which Trade receivables: -€3,758
- Cash +€4,771
up €4,771 (+3873.0%), from €123 to €4,894
mainly Depreciation (+€11,103) and Receivables within one year (+€4,787)
- Other debts -€4,840
down €4,840 (-21.2%), from €22,880 to €18,040
- Trade debts -€3,897
down €3,897 (-78.8%), from €4,944 to €1,047
- Profit (loss) carried forward -€2,010
down €2,010 (-15.4%), from -€13,072 to -€15,082
- Gross operating margin +€8,037
up €8,037 (+565.2%), from €1,422 to €9,459
- Depreciation -€2,693
down €2,693 (-19.5%), from €13,796 to €11,103
- Financial income -€549
no longer reported in 2025 (was €549)
- Financial charges +€120
up €120 (+16.9%), from €708 to €828
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 | €85,489 | €73,905 | -€11,584 | -13.6% |
| Fixed assets | 21/28 | €58,286 | €47,183 | -€11,103 | -19.0% |
| Tangible fixed assets | 22/27 | €58,286 | €47,183 | -€11,103 | -19.0% |
| Land and buildings | 22 | €43,820 | €39,983 | -€3,837 | -8.8% |
| Plant, machinery and equipment | 23 | €2,943 | €1,097 | -€1,846 | -62.7% |
| Furniture and vehicles | 24 | €490 | €200 | -€290 | -59.1% |
| Leasing and similar rights | 25 | €11,033 | €5,903 | -€5,130 | -46.5% |
| Current assets | 29/58 | €27,203 | €26,722 | -€481 | -1.8% |
| Stocks and contracts in progress | 3 | €8,670 | €8,205 | -€465 | -5.4% |
| Stocks | 30/36 | €8,670 | €8,205 | -€465 | -5.4% |
| Amounts receivable within one year | 40/41 | €18,410 | €13,623 | -€4,787 | -26.0% |
| Trade receivables | 40 | €17,172 | €13,414 | -€3,758 | -21.9% |
| Other amounts receivable | 41 | €1,238 | €209 | -€1,029 | -83.1% |
| Cash at bank and in hand | 54/58 | €123 | €4,894 | +€4,771 | +3873.0% |
| Total equity and liabilities | 10/49 | €85,489 | €73,905 | -€11,584 | -13.6% |
| Equity | 10/15 | €24,934 | €22,507 | -€2,427 | -9.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €25,606 | €25,189 | -€417 | -1.6% |
| Non-distributable reserves | 130/1 | €1,019 | €1,019 | +€0 | 0.0% |
| Legal reserve | 130 | €1,019 | €1,019 | +€0 | 0.0% |
| Tax-exempt reserves | 132 | €4,587 | €4,170 | -€417 | -9.1% |
| Distributable reserves | 133 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,072 | -€15,082 | -€2,010 | -15.4% |
| Provisions and deferred taxes | 16 | €1,527 | €1,388 | -€139 | -9.1% |
| Deferred taxes | 168 | €1,527 | €1,388 | -€139 | -9.1% |
| Amounts payable | 17/49 | €59,028 | €50,010 | -€9,019 | -15.3% |
| Amounts payable after more than one year | 17 | €25,922 | €25,463 | -€459 | -1.8% |
| Financial debts | 170/4 | €5,922 | €463 | -€5,459 | -92.2% |
| Other amounts payable | 178/9 | €20,000 | €25,000 | +€5,000 | +25.0% |
| Amounts payable within one year | 42/48 | €33,106 | €24,547 | -€8,560 | -25.9% |
| Current portion of amounts payable after more than one year | 42 | €5,282 | €5,459 | +€177 | +3.3% |
| Trade debts | 44 | €4,944 | €1,047 | -€3,897 | -78.8% |
| Suppliers | 440/4 | €4,944 | €1,047 | -€3,897 | -78.8% |
| Other amounts payable | 47/48 | €22,880 | €18,040 | -€4,840 | -21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,796 | €11,103 | -€2,693 | -19.5% |
| Other operating charges | 640/8 | €88 | €92 | +€4 | +4.6% |
| Gross operating margin | 9900 | €1,422 | €9,459 | +€8,037 | +565.2% |
| Operating profit (loss) | 9901 | -€12,462 | -€1,736 | +€10,726 | +86.1% |
| Financial income | 75/76B | €549 | - | -€549 | |
| Recurring financial income | 75 | €549 | - | -€549 | |
| Financial charges | 65/66B | €708 | €828 | +€120 | +16.9% |
| Recurring financial charges | 65 | €708 | €828 | +€120 | +16.9% |
| Profit (loss) for the period before taxes | 9903 | -€12,621 | -€2,564 | +€10,057 | +79.7% |
| Transfer from deferred taxes | 780 | - | €139 | +€139 | |
| Profit (loss) for the period | 9904 | -€12,621 | -€2,425 | +€10,196 | +80.8% |
| Transfer from tax-exempt reserves | 789 | €555 | €417 | -€138 | -24.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,066 | -€2,008 | +€10,058 | +83.4% |
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 28 September 2026 via checked.be.