CBO LEX: 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.
CBO LEX
Largest movements
- Intangible fixed assets -€17,000
down €17,000 (-18.2%), from €93,500 to €76,500
- Tangible fixed assets +€12,298
up €12,298 (+128.1%), from €9,602 to €21,901
of which Other tangible fixed assets: +€12,184
- Profit (loss) carried forward +€10,100
up €10,100 (+19.8%), from €51,113 to €61,213
- Tax, wage and social debts -€8,243
down €8,243 (-67.6%), from €12,187 to €3,943
of which Taxes: -€8,243
- Debts after one year -€5,056
down €5,056 (-24.2%), from €20,918 to €15,863
- Trade debts +€4,334
up €4,334 (+427.8%), from €1,013 to €5,347
- Advances received -€4,037
down €4,037 (-94.2%), from €4,287 to €250
- Gross operating margin -€11,527
down €11,527 (-24.1%), from €47,787 to €36,260
- Taxes -€2,751
down €2,751 (-44.8%), from €6,144 to €3,393
- Depreciation +€1,327
up €1,327 (+7.1%), from €18,657 to €19,984
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 | €112,043 | €108,571 | -€3,472 | -3.1% |
| Fixed assets | 21/28 | €103,102 | €98,401 | -€4,702 | -4.6% |
| Intangible fixed assets | 21 | €93,500 | €76,500 | -€17,000 | -18.2% |
| Tangible fixed assets | 22/27 | €9,602 | €21,901 | +€12,298 | +128.1% |
| Land and buildings | 22 | €6,302 | €5,142 | -€1,160 | -18.4% |
| Plant, machinery and equipment | 23 | €850 | €2,124 | +€1,274 | +150.0% |
| Other tangible fixed assets | 26 | €2,451 | €14,635 | +€12,184 | +497.1% |
| Current assets | 29/58 | €8,941 | €10,171 | +€1,230 | +13.8% |
| Amounts receivable within one year | 40/41 | €5,662 | €6,710 | +€1,048 | +18.5% |
| Trade receivables | 40 | €5,662 | €3,876 | -€1,786 | -31.5% |
| Other amounts receivable | 41 | - | €2,834 | +€2,834 | |
| Cash at bank and in hand | 54/58 | €2,445 | €2,802 | +€356 | +14.6% |
| Deferred charges and accrued income | 490/1 | €833 | €659 | -€174 | -20.9% |
| Total equity and liabilities | 10/49 | €112,043 | €108,571 | -€3,472 | -3.1% |
| Equity | 10/15 | €54,613 | €64,713 | +€10,100 | +18.5% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,113 | €61,213 | +€10,100 | +19.8% |
| Amounts payable | 17/49 | €57,430 | €43,858 | -€13,572 | -23.6% |
| Amounts payable after more than one year | 17 | €20,918 | €15,863 | -€5,056 | -24.2% |
| Financial debts | 170/4 | €20,918 | €15,863 | -€5,056 | -24.2% |
| Amounts payable within one year | 42/48 | €36,512 | €27,996 | -€8,516 | -23.3% |
| Current portion of amounts payable after more than one year | 42 | €15,241 | €18,455 | +€3,215 | +21.1% |
| Trade debts | 44 | €1,013 | €5,347 | +€4,334 | +427.8% |
| Suppliers | 440/4 | €1,013 | €5,347 | +€4,334 | +427.8% |
| Advances received on contracts in progress | 46 | €4,287 | €250 | -€4,037 | -94.2% |
| Taxes, remuneration and social security | 45 | €12,187 | €3,943 | -€8,243 | -67.6% |
| Taxes | 450/3 | €10,145 | €1,902 | -€8,243 | -81.3% |
| Remuneration and social security | 454/9 | €2,042 | €2,042 | = | 0.0% |
| Other amounts payable | 47/48 | €3,784 | - | -€3,784 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,657 | €19,984 | +€1,327 | +7.1% |
| Other operating charges | 640/8 | €864 | €1,053 | +€190 | +22.0% |
| Gross operating margin | 9900 | €47,787 | €36,260 | -€11,527 | -24.1% |
| Operating profit (loss) | 9901 | €28,266 | €15,222 | -€13,044 | -46.1% |
| Financial income | 75/76B | €2 | €9 | +€7 | +358.3% |
| Recurring financial income | 75 | €2 | €9 | +€7 | +358.3% |
| Financial charges | 65/66B | €1,652 | €1,738 | +€86 | +5.2% |
| Recurring financial charges | 65 | €1,652 | €1,738 | +€86 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | €26,616 | €13,493 | -€13,122 | -49.3% |
| Income taxes | 67/77 | €6,144 | €3,393 | -€2,751 | -44.8% |
| Profit (loss) for the period | 9904 | €20,471 | €10,100 | -€10,372 | -50.7% |
| Profit (loss) for the period to be appropriated | 9905 | €20,471 | €10,100 | -€10,372 | -50.7% |
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 8 October 2026 via checked.be.