CBL CONCEPT: 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.
CBL CONCEPT
Largest movements
- Receivables within one year -€196,176
down €196,176 (-46.2%), from €424,880 to €228,704
of which Trade receivables: -€210,289
- Tangible fixed assets +€32,423
up €32,423 (+478.8%), from €6,772 to €39,195
of which Furniture and vehicles: +€33,611
- Deferred charges and accrued income -€31,981
down €31,981 (-94.3%), from €33,913 to €1,933
- Cash -€11,490
down €11,490 (-78.1%), from €14,720 to €3,230
mainly Trade debts (-€81,328) and Accrued charges and deferred income (-€61,106)
- Trade debts -€81,328
down €81,328 (-49.2%), from €165,163 to €83,835
- Accrued charges and deferred income -€61,106
down €61,106 (-99.6%), from €61,373 to €267
- Advances received -€29,820
no longer reported in 2025 (was €29,820)
- Tax, wage and social debts -€27,142
down €27,142 (-55.2%), from €49,158 to €22,017
of which Taxes: -€27,372
- Short-term financial debts -€11,619
no longer reported in 2025 (was €11,619)
- Gross operating margin +€32,783
up €32,783 (+144.9%), from €22,617 to €55,401
- Taxes +€13,799
up €13,799 (+1325.1%), from €1,041 to €14,840
- Financial charges +€9,722
up €9,722 (+629.1%), from €1,545 to €11,267
- Depreciation +€6,234
up €6,234 (+64.6%), from €9,646 to €15,880
- Other operating charges +€4,659
up €4,659 (+272.9%), from €1,708 to €6,367
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 | €484,581 | €277,389 | -€207,193 | -42.8% |
| Fixed assets | 21/28 | €11,068 | €43,523 | +€32,455 | +293.2% |
| Tangible fixed assets | 22/27 | €6,772 | €39,195 | +€32,423 | +478.8% |
| Plant, machinery and equipment | 23 | €4,642 | €3,454 | -€1,188 | -25.6% |
| Furniture and vehicles | 24 | €2,130 | €35,741 | +€33,611 | +1577.9% |
| Financial fixed assets | 28 | €4,296 | €4,328 | +€32 | +0.7% |
| Current assets | 29/58 | €473,514 | €233,866 | -€239,647 | -50.6% |
| Amounts receivable within one year | 40/41 | €424,880 | €228,704 | -€196,176 | -46.2% |
| Trade receivables | 40 | €281,219 | €70,929 | -€210,289 | -74.8% |
| Other amounts receivable | 41 | €143,662 | €157,775 | +€14,113 | +9.8% |
| Cash at bank and in hand | 54/58 | €14,720 | €3,230 | -€11,490 | -78.1% |
| Deferred charges and accrued income | 490/1 | €33,913 | €1,933 | -€31,981 | -94.3% |
| Total equity and liabilities | 10/49 | €484,581 | €277,389 | -€207,193 | -42.8% |
| Equity | 10/15 | €159,350 | €165,895 | +€6,545 | +4.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €8,545 | +€6,545 | +327.2% |
| Distributable reserves | 133 | €2,000 | €8,545 | +€6,545 | +327.2% |
| Profit (loss) carried forward | 14 | €137,350 | €137,350 | = | 0.0% |
| Amounts payable | 17/49 | €325,231 | €111,494 | -€213,737 | -65.7% |
| Amounts payable within one year | 42/48 | €263,859 | €111,227 | -€152,632 | -57.8% |
| Current portion of amounts payable after more than one year | 42 | €6,108 | €375 | -€5,733 | -93.9% |
| Financial debts | 43 | €11,619 | - | -€11,619 | |
| Credit institutions | 430/8 | €11,619 | - | -€11,619 | |
| Trade debts | 44 | €165,163 | €83,835 | -€81,328 | -49.2% |
| Suppliers | 440/4 | €165,163 | €83,835 | -€81,328 | -49.2% |
| Advances received on contracts in progress | 46 | €29,820 | - | -€29,820 | |
| Taxes, remuneration and social security | 45 | €49,158 | €22,017 | -€27,142 | -55.2% |
| Taxes | 450/3 | €43,988 | €16,617 | -€27,372 | -62.2% |
| Remuneration and social security | 454/9 | €5,170 | €5,400 | +€230 | +4.4% |
| Other amounts payable | 47/48 | €1,989 | €5,000 | +€3,011 | +151.4% |
| Accrued charges and deferred income | 492/3 | €61,373 | €267 | -€61,106 | -99.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,646 | €15,880 | +€6,234 | +64.6% |
| Other operating charges | 640/8 | €1,708 | €6,367 | +€4,659 | +272.9% |
| Non-recurring operating charges | 66A | - | €130 | +€130 | |
| Gross operating margin | 9900 | €22,617 | €55,401 | +€32,783 | +144.9% |
| Operating profit (loss) | 9901 | €11,264 | €33,024 | +€21,760 | +193.2% |
| Financial income | 75/76B | €2,530 | €4,628 | +€2,098 | +82.9% |
| Recurring financial income | 75 | €2,530 | €4,628 | +€2,098 | +82.9% |
| Financial charges | 65/66B | €1,545 | €11,267 | +€9,722 | +629.1% |
| Recurring financial charges | 65 | €1,545 | €11,267 | +€9,722 | +629.1% |
| Profit (loss) for the period before taxes | 9903 | €12,249 | €26,385 | +€14,136 | +115.4% |
| Income taxes | 67/77 | €1,041 | €14,840 | +€13,799 | +1325.1% |
| Profit (loss) for the period | 9904 | €11,207 | €11,545 | +€337 | +3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,207 | €11,545 | +€337 | +3.0% |
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 1 October 2026 via checked.be.