CBD: 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.
CBD
Largest movements
- Tangible fixed assets -€34,530
down €34,530 (-7.7%), from €450,902 to €416,372
of which Land and buildings: -€23,301
- Debts after one year -€31,983
down €31,983 (-66.2%), from €48,308 to €16,325
- Other debts -€31,688
down €31,688 (-21.0%), from €150,660 to €118,972
- Profit (loss) carried forward +€19,961
up €19,961 (+9.6%), from €207,444 to €227,406
- Gross operating margin +€7,391
up €7,391 (+9.0%), from €82,565 to €89,956
- Financial charges -€4,754
down €4,754 (-28.6%), from €16,627 to €11,873
- Depreciation +€3,282
up €3,282 (+9.2%), from €35,719 to €39,001
- Taxes +€3,138
up €3,138 (+31.8%), from €9,858 to €12,997
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 | €478,829 | €438,225 | -€40,604 | -8.5% |
| Fixed assets | 21/28 | €451,061 | €416,531 | -€34,530 | -7.7% |
| Tangible fixed assets | 22/27 | €450,902 | €416,372 | -€34,530 | -7.7% |
| Land and buildings | 22 | €403,272 | €379,971 | -€23,301 | -5.8% |
| Plant, machinery and equipment | 23 | €26,989 | €21,881 | -€5,108 | -18.9% |
| Furniture and vehicles | 24 | €20,641 | €14,520 | -€6,121 | -29.7% |
| Financial fixed assets | 28 | €159 | €159 | = | 0.0% |
| Current assets | 29/58 | €27,768 | €21,694 | -€6,074 | -21.9% |
| Amounts receivable within one year | 40/41 | €18,176 | €14,918 | -€3,259 | -17.9% |
| Trade receivables | 40 | €18,030 | €14,734 | -€3,296 | -18.3% |
| Other amounts receivable | 41 | €146 | €183 | +€37 | +25.3% |
| Cash at bank and in hand | 54/58 | €8,863 | €6,114 | -€2,749 | -31.0% |
| Deferred charges and accrued income | 490/1 | €729 | €662 | -€66 | -9.1% |
| Total equity and liabilities | 10/49 | €478,829 | €438,225 | -€40,604 | -8.5% |
| Equity | 10/15 | €234,712 | €254,674 | +€19,961 | +8.5% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €2,479 | €2,479 | = | 0.0% |
| Distributable reserves | 133 | €2,479 | €2,479 | = | 0.0% |
| Profit (loss) carried forward | 14 | €207,444 | €227,406 | +€19,961 | +9.6% |
| Amounts payable | 17/49 | €244,117 | €183,551 | -€60,566 | -24.8% |
| Amounts payable after more than one year | 17 | €48,308 | €16,325 | -€31,983 | -66.2% |
| Financial debts | 170/4 | €48,308 | €16,325 | -€31,983 | -66.2% |
| Amounts payable within one year | 42/48 | €194,234 | €165,651 | -€28,583 | -14.7% |
| Current portion of amounts payable after more than one year | 42 | €31,113 | €31,983 | +€869 | +2.8% |
| Trade debts | 44 | €8,523 | €6,208 | -€2,315 | -27.2% |
| Suppliers | 440/4 | €8,523 | €6,208 | -€2,315 | -27.2% |
| Taxes, remuneration and social security | 45 | €3,938 | €8,488 | +€4,550 | +115.6% |
| Taxes | 450/3 | €3,938 | €8,488 | +€4,550 | +115.6% |
| Other amounts payable | 47/48 | €150,660 | €118,972 | -€31,688 | -21.0% |
| Accrued charges and deferred income | 492/3 | €1,575 | €1,575 | = | 0.0% |
| Non-recurring operating income | 76A | €2,275 | - | -€2,275 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,719 | €39,001 | +€3,282 | +9.2% |
| Other operating charges | 640/8 | €5,774 | €6,180 | +€406 | +7.0% |
| Gross operating margin | 9900 | €82,565 | €89,956 | +€7,391 | +9.0% |
| Operating profit (loss) | 9901 | €41,072 | €44,775 | +€3,703 | +9.0% |
| Financial income | 75/76B | €121 | €56 | -€65 | -54.0% |
| Recurring financial income | 75 | €121 | €56 | -€65 | -54.0% |
| Financial charges | 65/66B | €16,627 | €11,873 | -€4,754 | -28.6% |
| Recurring financial charges | 65 | €16,627 | €11,873 | -€4,754 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | €24,566 | €32,958 | +€8,392 | +34.2% |
| Income taxes | 67/77 | €9,858 | €12,997 | +€3,138 | +31.8% |
| Profit (loss) for the period | 9904 | €14,708 | €19,961 | +€5,254 | +35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €14,708 | €19,961 | +€5,254 | +35.7% |
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 5 October 2026 via checked.be.