CBE: 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.
CBE
Largest movements
- Receivables within one year +€100,449
up €100,449 (+23.7%), from €424,555 to €525,004
of which Other amounts receivable: +€168,637
- Cash +€94,596
up €94,596 (+264%), from €35,864 to €130,461
mainly Depreciation (+€154,036) and Short-term financial debts (+€96,822)
- Tangible fixed assets -€75,072
down €75,072 (-3.9%), from €1.9m to €1.8m
of which Land and buildings: -€53,025
- Receivables after one year -€75,000
no longer reported in 2025 (was €75,000)
- Debts after one year -€182,113
down €182,113 (-10.4%), from €1.7m to €1.6m
- Short-term financial debts +€96,822
up €96,822 (+27.4%), from €353,986 to €450,808
- Reserves +€64,715
up €64,715 (+25.1%), from €258,232 to €322,946
of which Distributable reserves: +€64,715
- Current portion of long-term debt +€52,568
up €52,568 (+26.2%), from €200,394 to €252,961
- Gross operating margin +€53,210
up €53,210 (+5.4%), from €979,877 to €1.0m
- Depreciation +€15,392
up €15,392 (+11.1%), from €138,644 to €154,036
- Financial charges +€13,985
up €13,985 (+10.6%), from €131,401 to €145,386
of which Financial charges: +€10,702
- Staff costs -€13,666
down €13,666 (-2.1%), from €639,725 to €626,059
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.
Derived cash bridge
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 | €3,251,856 | €3,301,453 | +€49,597 | +1.5% |
| Fixed assets | 21/28 | €1,922,400 | €1,847,651 | -€74,749 | -3.9% |
| Intangible fixed assets | 21 | €308 | €631 | +€323 | +105% |
| Tangible fixed assets | 22/27 | €1,918,984 | €1,843,912 | -€75,072 | -3.9% |
| Land and buildings | 22 | €1,735,436 | €1,682,411 | -€53,025 | -3.1% |
| Plant, machinery and equipment | 23 | €8,201 | €22,084 | +€13,883 | +169% |
| Furniture and vehicles | 24 | €175,347 | €139,416 | -€35,930 | -20.5% |
| Financial fixed assets | 28 | €3,108 | €3,108 | = | 0.0% |
| Current assets | 29/58 | €1,329,457 | €1,453,802 | +€124,345 | +9.4% |
| Amounts receivable after more than one year | 29 | €75,000 | - | -€75,000 | |
| Other amounts receivable | 291 | €75,000 | - | -€75,000 | |
| Stocks and contracts in progress | 3 | €769,359 | €760,484 | -€8,875 | -1.2% |
| Stocks | 30/36 | €769,359 | €760,484 | -€8,875 | -1.2% |
| Amounts receivable within one year | 40/41 | €424,555 | €525,004 | +€100,449 | +23.7% |
| Trade receivables | 40 | €288,732 | €220,544 | -€68,188 | -23.6% |
| Other amounts receivable | 41 | €135,823 | €304,460 | +€168,637 | +124% |
| Cash at bank and in hand | 54/58 | €35,864 | €130,461 | +€94,596 | +264% |
| Deferred charges and accrued income | 490/1 | €24,678 | €37,854 | +€13,176 | +53.4% |
| Total equity and liabilities | 10/49 | €3,251,856 | €3,301,453 | +€49,597 | +1.5% |
| Equity | 10/15 | €400,232 | €464,946 | +€64,715 | +16.2% |
| Contributions | 10/11 | €142,000 | €142,000 | = | 0.0% |
| Reserves | 13 | €258,232 | €322,946 | +€64,715 | +25.1% |
| Tax-exempt reserves | 132 | €90 | €90 | = | 0.0% |
| Distributable reserves | 133 | €258,142 | €322,857 | +€64,715 | +25.1% |
| Amounts payable | 17/49 | €2,851,625 | €2,836,506 | -€15,118 | -0.5% |
| Amounts payable after more than one year | 17 | €1,745,403 | €1,563,290 | -€182,113 | -10.4% |
| Financial debts | 170/4 | €1,745,403 | €1,563,290 | -€182,113 | -10.4% |
| Amounts payable within one year | 42/48 | €1,103,777 | €1,265,107 | +€161,330 | +14.6% |
| Current portion of amounts payable after more than one year | 42 | €200,394 | €252,961 | +€52,568 | +26.2% |
| Financial debts | 43 | €353,986 | €450,808 | +€96,822 | +27.4% |
| Credit institutions | 430/8 | €353,986 | €450,808 | +€96,822 | +27.4% |
| Trade debts | 44 | €466,115 | €491,210 | +€25,095 | +5.4% |
| Suppliers | 440/4 | €466,115 | €491,210 | +€25,095 | +5.4% |
| Taxes, remuneration and social security | 45 | €83,282 | €68,409 | -€14,873 | -17.9% |
| Taxes | 450/3 | €3,942 | €12,806 | +€8,864 | +225% |
| Remuneration and social security | 454/9 | €79,340 | €55,603 | -€23,737 | -29.9% |
| Other amounts payable | 47/48 | - | €1,718 | +€1,718 | |
| Accrued charges and deferred income | 492/3 | €2,445 | €8,109 | +€5,664 | +232% |
| Remuneration, social security and pensions | 62 | €639,725 | €626,059 | -€13,666 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €138,644 | €154,036 | +€15,392 | +11.1% |
| Other operating charges | 640/8 | €16,064 | €19,329 | +€3,266 | +20.3% |
| Gross operating margin | 9900 | €979,877 | €1,033,087 | +€53,210 | +5.4% |
| Operating profit (loss) | 9901 | €185,444 | €233,663 | +€48,218 | +26.0% |
| Financial income | 75/76B | €16,736 | €10,485 | -€6,250 | -37.3% |
| Recurring financial income | 75 | €14,368 | €10,485 | -€3,883 | -27.0% |
| Non-recurring financial income | 76B | €2,367 | - | -€2,367 | |
| Financial charges | 65/66B | €131,401 | €145,386 | +€13,985 | +10.6% |
| Recurring financial charges | 65 | €131,401 | €142,103 | +€10,702 | +8.1% |
| Non-recurring financial charges | 66B | - | €3,283 | +€3,283 | |
| Profit (loss) for the period before taxes | 9903 | €70,779 | €98,762 | +€27,983 | +39.5% |
| Income taxes | 67/77 | €24,184 | €32,329 | +€8,145 | +33.7% |
| Profit (loss) for the period | 9904 | €46,595 | €66,433 | +€19,838 | +42.6% |
| Profit (loss) for the period to be appropriated | 9905 | €46,595 | €66,433 | +€19,838 | +42.6% |
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 26 October 2026 via checked.be.