CBEXCO: 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.
CBEXCO
Largest movements
- Receivables within one year +€8,029
up €8,029 (+24.3%), from €33,086 to €41,115
of which Trade receivables: +€6,347
- Other debts +€33,239
up €33,239 (+49.6%), from €66,999 to €100,238
- Tax, wage and social debts -€16,089
down €16,089 (-89.9%), from €17,895 to €1,806
- Financial income +€8,806
up €8,806 (+329%), from €2,678 to €11,484
- Gross operating margin +€6,402
up €6,402 (+5.4%), from €118,931 to €125,333
- Depreciation +€2,080
up €2,080 (+61.1%), from €3,407 to €5,487
- Taxes +€2,053
up €2,053 (+6.4%), from €32,064 to €34,117
- Staff costs -€1,962
down €1,962 (-48.6%), from €4,036 to €2,074
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 | €567,943 | €581,644 | +€13,701 | +2.4% |
| Fixed assets | 21/28 | €18,466 | €23,648 | +€5,182 | +28.1% |
| Tangible fixed assets | 22/27 | €18,466 | €23,648 | +€5,182 | +28.1% |
| Land and buildings | 22 | €15,875 | €13,627 | -€2,248 | -14.2% |
| Furniture and vehicles | 24 | €2,591 | €10,021 | +€7,430 | +287% |
| Current assets | 29/58 | €549,477 | €557,996 | +€8,519 | +1.6% |
| Amounts receivable within one year | 40/41 | €33,086 | €41,115 | +€8,029 | +24.3% |
| Trade receivables | 40 | €14,345 | €20,692 | +€6,347 | +44.2% |
| Other amounts receivable | 41 | €18,741 | €20,423 | +€1,682 | +9.0% |
| Current investments | 50/53 | €76,117 | €76,117 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €435,731 | €438,399 | +€2,668 | +0.6% |
| Deferred charges and accrued income | 490/1 | €4,543 | €2,365 | -€2,178 | -47.9% |
| Total equity and liabilities | 10/49 | €567,943 | €581,644 | +€13,701 | +2.4% |
| Equity | 10/15 | €477,762 | €477,762 | = | 0.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €459,212 | €459,212 | = | 0.0% |
| Distributable reserves | 133 | €459,212 | €459,212 | = | 0.0% |
| Amounts payable | 17/49 | €90,181 | €103,882 | +€13,701 | +15.2% |
| Amounts payable within one year | 42/48 | €90,181 | €103,882 | +€13,701 | +15.2% |
| Trade debts | 44 | €5,287 | €1,838 | -€3,450 | -65.2% |
| Suppliers | 440/4 | €5,287 | €1,838 | -€3,450 | -65.2% |
| Taxes, remuneration and social security | 45 | €17,895 | €1,806 | -€16,089 | -89.9% |
| Taxes | 450/3 | €17,895 | €1,806 | -€16,089 | -89.9% |
| Other amounts payable | 47/48 | €66,999 | €100,238 | +€33,239 | +49.6% |
| Remuneration, social security and pensions | 62 | €4,036 | €2,074 | -€1,962 | -48.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,407 | €5,487 | +€2,080 | +61.1% |
| Other operating charges | 640/8 | €1,177 | €1,168 | -€9 | -0.8% |
| Gross operating margin | 9900 | €118,931 | €125,333 | +€6,402 | +5.4% |
| Operating profit (loss) | 9901 | €110,311 | €116,604 | +€6,293 | +5.7% |
| Financial income | 75/76B | €2,678 | €11,484 | +€8,806 | +329% |
| Recurring financial income | 75 | €2,678 | €11,484 | +€8,806 | +329% |
| Financial charges | 65/66B | €149 | €146 | -€4 | -2.4% |
| Recurring financial charges | 65 | €149 | €146 | -€4 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | €112,840 | €127,942 | +€15,102 | +13.4% |
| Income taxes | 67/77 | €32,064 | €34,117 | +€2,053 | +6.4% |
| Profit (loss) for the period | 9904 | €80,776 | €93,825 | +€13,049 | +16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €80,776 | €93,825 | +€13,049 | +16.2% |
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 14 October 2026 via checked.be.