CBF PROJECTS: 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.
CBF PROJECTS
Largest movements
- Cash -€55,840
down €55,840 (-25.3%), from €220,960 to €165,120
mainly Investment in fixed assets (net) (-€168,266) and Net result for the year (-€55,865)
- Tangible fixed assets +€52,961
up €52,961 (+2.7%), from €1.9m to €2.0m
of which Land and buildings: +€67,562
- Profit (loss) carried forward -€55,865
down €55,865 (-6.9%), from -€815,210 to -€871,076
- Trade debts +€49,388
up €49,388 (+1,666%), from €2,965 to €52,353
- Depreciation -€21,178
down €21,178 (-15.5%), from €136,483 to €115,305
- Gross operating margin -€16,012
down €16,012 (-13.3%), from €120,215 to €104,203
- Financial income +€6,310
up €6,310 (+116%), from €5,444 to €11,754
- Financial charges +€6,179
up €6,179 (+18.5%), from €33,330 to €39,509
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 | €2,618,667 | €2,604,766 | -€13,901 | -0.5% |
| Fixed assets | 21/28 | €1,946,934 | €1,999,895 | +€52,961 | +2.7% |
| Tangible fixed assets | 22/27 | €1,946,934 | €1,999,895 | +€52,961 | +2.7% |
| Land and buildings | 22 | €1,903,534 | €1,971,096 | +€67,562 | +3.5% |
| Plant, machinery and equipment | 23 | €7,068 | €6,638 | -€430 | -6.1% |
| Furniture and vehicles | 24 | €36,331 | €22,161 | -€14,170 | -39.0% |
| Current assets | 29/58 | €671,733 | €604,871 | -€66,862 | -10.0% |
| Amounts receivable within one year | 40/41 | €5,918 | €7,886 | +€1,968 | +33.3% |
| Trade receivables | 40 | €5,210 | €5,968 | +€758 | +14.6% |
| Other amounts receivable | 41 | €708 | €1,918 | +€1,210 | +171% |
| Current investments | 50/53 | €410,573 | €416,370 | +€5,797 | +1.4% |
| Cash at bank and in hand | 54/58 | €220,960 | €165,120 | -€55,840 | -25.3% |
| Deferred charges and accrued income | 490/1 | €34,283 | €15,495 | -€18,788 | -54.8% |
| Total equity and liabilities | 10/49 | €2,618,667 | €2,604,766 | -€13,901 | -0.5% |
| Equity | 10/15 | €2,104,062 | €2,048,197 | -€55,865 | -2.7% |
| Contributions | 10/11 | €2,816,500 | €2,816,500 | = | 0.0% |
| Revaluation surpluses | 12 | €66,500 | €66,500 | = | 0.0% |
| Reserves | 13 | €36,273 | €36,273 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €27,773 | €27,773 | = | 0.0% |
| Distributable reserves | 133 | €8,500 | €8,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€815,210 | -€871,076 | -€55,865 | -6.9% |
| Amounts payable | 17/49 | €514,605 | €556,568 | +€41,964 | +8.2% |
| Amounts payable within one year | 42/48 | €475,461 | €520,780 | +€45,318 | +9.5% |
| Trade debts | 44 | €2,965 | €52,353 | +€49,388 | +1,666% |
| Suppliers | 440/4 | €2,965 | €52,353 | +€49,388 | +1,666% |
| Taxes, remuneration and social security | 45 | €7,754 | €6,858 | -€897 | -11.6% |
| Taxes | 450/3 | €7,754 | €6,858 | -€897 | -11.6% |
| Other amounts payable | 47/48 | €464,743 | €461,569 | -€3,173 | -0.7% |
| Accrued charges and deferred income | 492/3 | €39,143 | €35,789 | -€3,354 | -8.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €136,483 | €115,305 | -€21,178 | -15.5% |
| Other operating charges | 640/8 | €15,887 | €16,019 | +€132 | +0.8% |
| Gross operating margin | 9900 | €120,215 | €104,203 | -€16,012 | -13.3% |
| Operating profit (loss) | 9901 | -€32,155 | -€27,121 | +€5,034 | +15.7% |
| Financial income | 75/76B | €5,444 | €11,754 | +€6,310 | +116% |
| Recurring financial income | 75 | €5,444 | €11,754 | +€6,310 | +116% |
| Financial charges | 65/66B | €33,330 | €39,509 | +€6,179 | +18.5% |
| Recurring financial charges | 65 | €33,330 | €39,509 | +€6,179 | +18.5% |
| Profit (loss) for the period before taxes | 9903 | -€60,041 | -€54,875 | +€5,165 | +8.6% |
| Income taxes | 67/77 | €959 | €990 | +€30 | +3.1% |
| Profit (loss) for the period | 9904 | -€61,000 | -€55,865 | +€5,135 | +8.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€61,000 | -€55,865 | +€5,135 | +8.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.