CB4W: 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.
CB4W
Largest movements
- Stocks and contracts +€13,298
up €13,298 (+12.2%), from €108,653 to €121,950
- Cash -€9,139
down €9,139 (-53.1%), from €17,220 to €8,081
mainly Investment in fixed assets (net) (-€14,838) and Stocks and contracts (-€13,298)
- Other debts +€14,315
up €14,315 (+10.4%), from €138,158 to €152,473
- Debts after one year -€5,788
down €5,788 (-10.3%), from €56,096 to €50,308
of which Financial debts: -€7,163
- Profit (loss) carried forward +€4,457
up €4,457 (+5.2%), from -€85,307 to -€80,851
- Trade debts -€4,144
down €4,144 (-33.6%), from €12,341 to €8,196
- Gross operating margin -€6,756
down €6,756 (-21.1%), from €31,980 to €25,224
- Depreciation +€2,770
up €2,770 (+22.5%), from €12,329 to €15,099
- Other operating charges +€2,300
up €2,300 (+112.9%), from €2,038 to €4,339
- Financial income +€627
up €627 (+334.4%), from €187 to €814
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 | €312,174 | €318,229 | +€6,055 | +1.9% |
| Fixed assets | 21/28 | €185,634 | €185,373 | -€261 | -0.1% |
| Intangible fixed assets | 21 | - | €1,258 | +€1,258 | |
| Tangible fixed assets | 22/27 | €180,634 | €179,115 | -€1,519 | -0.8% |
| Land and buildings | 22 | €168,728 | €161,388 | -€7,339 | -4.3% |
| Plant, machinery and equipment | 23 | €7,818 | €5,582 | -€2,236 | -28.6% |
| Furniture and vehicles | 24 | €4,089 | €12,145 | +€8,056 | +197.0% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €126,540 | €132,856 | +€6,316 | +5.0% |
| Stocks and contracts in progress | 3 | €108,653 | €121,950 | +€13,298 | +12.2% |
| Stocks | 30/36 | €108,653 | €121,950 | +€13,298 | +12.2% |
| Amounts receivable within one year | 40/41 | - | €2,185 | +€2,185 | |
| Trade receivables | 40 | - | €2,146 | +€2,146 | |
| Other amounts receivable | 41 | - | €39 | +€39 | |
| Cash at bank and in hand | 54/58 | €17,220 | €8,081 | -€9,139 | -53.1% |
| Deferred charges and accrued income | 490/1 | €667 | €640 | -€27 | -4.1% |
| Total equity and liabilities | 10/49 | €312,174 | €318,229 | +€6,055 | +1.9% |
| Equity | 10/15 | €94,693 | €99,149 | +€4,457 | +4.7% |
| Contributions | 10/11 | €180,000 | €180,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€85,307 | -€80,851 | +€4,457 | +5.2% |
| Amounts payable | 17/49 | €217,481 | €219,080 | +€1,598 | +0.7% |
| Amounts payable after more than one year | 17 | €56,096 | €50,308 | -€5,788 | -10.3% |
| Financial debts | 170/4 | €54,696 | €47,533 | -€7,163 | -13.1% |
| Other amounts payable | 178/9 | €1,400 | €2,774 | +€1,374 | +98.2% |
| Amounts payable within one year | 42/48 | €160,735 | €168,092 | +€7,357 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €7,681 | €7,163 | -€518 | -6.7% |
| Trade debts | 44 | €12,341 | €8,196 | -€4,144 | -33.6% |
| Suppliers | 440/4 | €12,341 | €8,196 | -€4,144 | -33.6% |
| Taxes, remuneration and social security | 45 | €2,556 | €260 | -€2,296 | -89.8% |
| Taxes | 450/3 | €2,556 | €260 | -€2,296 | -89.8% |
| Other amounts payable | 47/48 | €138,158 | €152,473 | +€14,315 | +10.4% |
| Accrued charges and deferred income | 492/3 | €650 | €680 | +€30 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,329 | €15,099 | +€2,770 | +22.5% |
| Other operating charges | 640/8 | €2,038 | €4,339 | +€2,300 | +112.9% |
| Gross operating margin | 9900 | €31,980 | €25,224 | -€6,756 | -21.1% |
| Operating profit (loss) | 9901 | €17,613 | €5,786 | -€11,827 | -67.1% |
| Financial income | 75/76B | €187 | €814 | +€627 | +334.4% |
| Recurring financial income | 75 | €187 | €814 | +€627 | +334.4% |
| Financial charges | 65/66B | €2,402 | €2,143 | -€259 | -10.8% |
| Recurring financial charges | 65 | €2,402 | €2,143 | -€259 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €15,398 | €4,457 | -€10,941 | -71.1% |
| Profit (loss) for the period | 9904 | €15,398 | €4,457 | -€10,941 | -71.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,398 | €4,457 | -€10,941 | -71.1% |
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 9 October 2026 via checked.be.