CBG IMMO: 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.
What changed
CBG IMMO
NACE 68.121, Development of residential building projects
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€14,316
2024 · €57,814-€72,130
Equity
€175,656
2024 · €317,963-€142,306
Cash
€10,771
2024 · €70,638-€59,866
Balance sheet total
€12.6m
2024 · €9.6m+€3.0m
Largest movements
Assets
- Stocks and contracts +€3.0m
up €3.0m (+31.9%), from €9.5m to €12.6m
Equity and liabilities
- Trade debts +€2.6m
up €2.6m (+2070.0%), from €125,629 to €2.7m
- Other debts +€1.1m
up €1.1m (+36.7%), from €3.1m to €4.2m
- Short-term financial debts -€544,130
down €544,130 (-9.1%), from €6.0m to €5.4m
- Profit (loss) carried forward -€139,416
down €139,416, from €112,977 to -€26,438
Income statement
- Turnover -€213,092
down €213,092 (-13.5%), from €1.6m to €1.4m
- Staff costs -€143,134
down €143,134 (-97.0%), from €147,603 to €4,469
- Services and other goods +€33,970
up €33,970 (+125.9%), from €26,976 to €60,945
- Taxes -€27,115
down €27,115 (-97.7%), from €27,763 to €649
- Goods and materials -€16,115
down €16,115 (-1.3%), from €1.3m to €1.2m
of which Change in stocks: decrease (increase): -€3.7m
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.
Result 2024
€57,814
Turnover
-€213,092
Other operating income
-€2,225
Goods and materials
+€16,115
Services and other goods
-€33,970
Staff costs
+€143,134
Depreciation
+€6,433
Other operating charges
-€265
Financial income
+€0
Financial charges
-€15,373
Taxes
+€27,115
Result 2025
-€14,316
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.
From operations
+€594,182
Investment
+€25,076
Financing
-€679,125
Cash 2024
€70,638
From operations (derived)
+€594,182
Net result for the year
-€14,316
Depreciation
+€2,116
Stocks and contracts
-€3.0m
Receivables within one year
-€20,827
Smaller working-capital items
-€4,274
Trade debts
+€2.6m
Tax, wage and social debts
-€66,258
Other debts
+€1.1m
Investment (derived)
+€25,076
Investment in fixed assets (net)
+€25,076
Financing
-€679,125
Debts after one year
-€7,326
Current portion of long-term debt
+€322
Short-term financial debts
-€544,130
Contributions, distributions and other
-€127,991
Cash 2025
€10,771
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,618,497 | €12,588,752 | +€3.0m | +30.9% |
| Fixed assets | 21/28 | €27,193 | - | -€27,193 | |
| Tangible fixed assets | 22/27 | €27,193 | - | -€27,193 | |
| Furniture and vehicles | 24 | €27,193 | - | -€27,193 | |
| Current assets | 29/58 | €9,591,305 | €12,588,752 | +€3.0m | +31.3% |
| Stocks and contracts in progress | 3 | €9,517,045 | €12,551,417 | +€3.0m | +31.9% |
| Stocks | 30/36 | €9,517,045 | €12,551,417 | +€3.0m | +31.9% |
| Property held for sale | 35 | €9,517,045 | €12,551,417 | +€3.0m | +31.9% |
| Amounts receivable within one year | 40/41 | €3,622 | €24,449 | +€20,827 | +575.0% |
| Trade receivables | 40 | €1,815 | - | -€1,815 | |
| Other amounts receivable | 41 | €1,807 | €24,449 | +€22,642 | +1252.9% |
| Cash at bank and in hand | 54/58 | €70,638 | €10,771 | -€59,866 | -84.8% |
| Deferred charges and accrued income | 490/1 | - | €2,115 | +€2,115 | |
| Total equity and liabilities | 10/49 | €9,618,497 | €12,588,752 | +€3.0m | +30.9% |
| Equity | 10/15 | €317,963 | €175,656 | -€142,306 | -44.8% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €4,985 | €2,095 | -€2,891 | -58.0% |
| Non-distributable reserves | 130/1 | €4,985 | €2,095 | -€2,891 | -58.0% |
| Legal reserve | 130 | €4,985 | €2,095 | -€2,891 | -58.0% |
| Profit (loss) carried forward | 14 | €112,977 | -€26,438 | -€139,416 | |
| Amounts payable | 17/49 | €9,300,535 | €12,413,096 | +€3.1m | +33.5% |
| Amounts payable after more than one year | 17 | €17,620 | €10,294 | -€7,326 | -41.6% |
| Financial debts | 170/4 | €17,620 | €10,294 | -€7,326 | -41.6% |
| Credit institutions | 173 | €17,620 | €10,294 | -€7,326 | -41.6% |
| Amounts payable within one year | 42/48 | €9,271,633 | €12,393,680 | +€3.1m | +33.7% |
| Current portion of amounts payable after more than one year | 42 | €7,004 | €7,326 | +€322 | +4.6% |
| Financial debts | 43 | €5,986,774 | €5,442,644 | -€544,130 | -9.1% |
| Credit institutions | 430/8 | €5,986,774 | €5,442,644 | -€544,130 | -9.1% |
| Trade debts | 44 | €125,629 | €2,726,130 | +€2.6m | +2070.0% |
| Suppliers | 440/4 | €125,629 | €2,726,130 | +€2.6m | +2070.0% |
| Taxes, remuneration and social security | 45 | €66,258 | - | -€66,258 | |
| Taxes | 450/3 | €47,805 | - | -€47,805 | |
| Remuneration and social security | 454/9 | €18,453 | - | -€18,453 | |
| Other amounts payable | 47/48 | €3,085,969 | €4,217,580 | +€1.1m | +36.7% |
| Accrued charges and deferred income | 492/3 | €11,281 | €9,122 | -€2,159 | -19.1% |
| Operating income | 70/76A | €1,600,272 | €1,384,954 | -€215,317 | -13.5% |
| Turnover | 70 | €1,578,393 | €1,365,301 | -€213,092 | -13.5% |
| Other operating income | 74 | €21,878 | €19,653 | -€2,225 | -10.2% |
| Operating charges | 60/66A | €1,455,826 | €1,324,380 | -€131,446 | -9.0% |
| Goods for resale, raw materials and consumables | 60 | €1,264,536 | €1,248,421 | -€16,115 | -1.3% |
| Purchases | 600/8 | €730,640 | €4,436,634 | +€3.7m | +507.2% |
| Change in stocks: decrease (increase) | 609 | €533,895 | -€3,188,213 | -€3.7m | |
| Services and other goods | 61 | €26,976 | €60,945 | +€33,970 | +125.9% |
| Remuneration, social security and pensions | 62 | €147,603 | €4,469 | -€143,134 | -97.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,549 | €2,116 | -€6,433 | -75.2% |
| Other operating charges | 640/8 | €8,163 | €8,428 | +€265 | +3.2% |
| Operating profit (loss) | 9901 | €144,446 | €60,574 | -€83,871 | -58.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Other financial income | 752/9 | - | €0 | +€0 | |
| Financial charges | 65/66B | €58,868 | €74,242 | +€15,373 | +26.1% |
| Recurring financial charges | 65 | €58,868 | €74,242 | +€15,373 | +26.1% |
| Debt charges | 650 | €58,868 | €74,242 | +€15,373 | +26.1% |
| Other financial charges | 652/9 | €0 | - | -€0 | |
| Profit (loss) for the period before taxes | 9903 | €85,577 | -€13,667 | -€99,244 | |
| Income taxes | 67/77 | €27,763 | €649 | -€27,115 | -97.7% |
| Taxes | 670/3 | €27,763 | €649 | -€27,115 | -97.7% |
| Profit (loss) for the period | 9904 | €57,814 | -€14,316 | -€72,130 | |
| Profit (loss) for the period to be appropriated | 9905 | €57,814 | -€14,316 | -€72,130 |
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 2 October 2026 via checked.be.