CB CAR: 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.
CB CAR
Largest movements
- Stocks and contracts -€95,480
down €95,480 (-34.5%), from €276,584 to €181,104
- Cash +€48,586
up €48,586 (+395.3%), from €12,291 to €60,877
mainly Stocks and contracts (+€95,480) and Trade debts (+€17,523)
- Other debts -€47,906
down €47,906 (-9.2%), from €518,111 to €470,205
- Trade debts +€17,523
up €17,523 (+253.9%), from €6,902 to €24,425
- Profit (loss) carried forward -€14,413
down €14,413 (-8.0%), from -€180,524 to -€194,938
- Gross operating margin +€18,613
up €18,613 (+86.3%), from -€21,567 to -€2,955
- Depreciation -€1,368
down €1,368 (-28.2%), from €4,849 to €3,481
- Staff costs -€1,226
no longer reported in 2025 (was €1,226)
- Other operating charges -€921
down €921 (-14.4%), from €6,408 to €5,487
- Financial charges -€274
down €274 (-27.5%), from €995 to €722
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 | €371,751 | €326,223 | -€45,528 | -12.2% |
| Fixed assets | 21/28 | €21,837 | €22,043 | +€206 | +0.9% |
| Tangible fixed assets | 22/27 | €21,717 | €21,923 | +€206 | +0.9% |
| Plant, machinery and equipment | 23 | €616 | €3,651 | +€3,035 | +492.6% |
| Furniture and vehicles | 24 | €21,101 | €18,272 | -€2,829 | -13.4% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €349,913 | €304,180 | -€45,734 | -13.1% |
| Stocks and contracts in progress | 3 | €276,584 | €181,104 | -€95,480 | -34.5% |
| Stocks | 30/36 | €276,584 | €181,104 | -€95,480 | -34.5% |
| Amounts receivable within one year | 40/41 | €56,245 | €58,252 | +€2,007 | +3.6% |
| Trade receivables | 40 | €40,245 | €42,200 | +€1,955 | +4.9% |
| Other amounts receivable | 41 | €16,000 | €16,052 | +€52 | +0.3% |
| Cash at bank and in hand | 54/58 | €12,291 | €60,877 | +€48,586 | +395.3% |
| Deferred charges and accrued income | 490/1 | €4,794 | €3,946 | -€848 | -17.7% |
| Total equity and liabilities | 10/49 | €371,751 | €326,223 | -€45,528 | -12.2% |
| Equity | 10/15 | -€160,064 | -€174,478 | -€14,413 | -9.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€180,524 | -€194,938 | -€14,413 | -8.0% |
| Amounts payable | 17/49 | €531,815 | €500,700 | -€31,115 | -5.9% |
| Amounts payable within one year | 42/48 | €531,723 | €500,605 | -€31,118 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €2,716 | €2,699 | -€17 | -0.6% |
| Trade debts | 44 | €6,902 | €24,425 | +€17,523 | +253.9% |
| Suppliers | 440/4 | €6,902 | €24,425 | +€17,523 | +253.9% |
| Taxes, remuneration and social security | 45 | €3,993 | €3,276 | -€717 | -18.0% |
| Taxes | 450/3 | €1,493 | €776 | -€717 | -48.0% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €518,111 | €470,205 | -€47,906 | -9.2% |
| Accrued charges and deferred income | 492/3 | €92 | €95 | +€3 | +3.0% |
| Remuneration, social security and pensions | 62 | €1,226 | - | -€1,226 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,849 | €3,481 | -€1,368 | -28.2% |
| Other operating charges | 640/8 | €6,408 | €5,487 | -€921 | -14.4% |
| Non-recurring operating charges | 66A | - | €1,769 | +€1,769 | |
| Gross operating margin | 9900 | -€21,567 | -€2,955 | +€18,613 | +86.3% |
| Operating profit (loss) | 9901 | -€34,050 | -€13,692 | +€20,358 | +59.8% |
| Financial income | 75/76B | €36 | €0 | -€36 | -99.8% |
| Recurring financial income | 75 | €36 | €0 | -€36 | -99.8% |
| Financial charges | 65/66B | €995 | €722 | -€274 | -27.5% |
| Recurring financial charges | 65 | €995 | €722 | -€274 | -27.5% |
| Profit (loss) for the period before taxes | 9903 | -€35,009 | -€14,413 | +€20,596 | +58.8% |
| Profit (loss) for the period | 9904 | -€35,009 | -€14,413 | +€20,596 | +58.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,009 | -€14,413 | +€20,596 | +58.8% |
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 2 October 2026 via checked.be.