CF INTERIM MANAGEMENT: 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.
CF INTERIM MANAGEMENT
Largest movements
- Receivables after one year -€15,000
down €15,000 (-30.0%), from €50,000 to €35,000
- Receivables within one year +€6,013
up €6,013 (+31.0%), from €19,396 to €25,408
of which Trade receivables: +€19,542
- Tangible fixed assets -€4,984
down €4,984 (-18.1%), from €27,573 to €22,590
of which Furniture and vehicles: -€3,334
- Cash +€4,481
up €4,481 (+31.0%), from €14,438 to €18,919
mainly Net result for the year (+€22,988) and Receivables after one year (+€15,000)
- Reserves -€18,000
down €18,000 (-17.0%), from €105,700 to €87,700
- Tax, wage and social debts +€4,141
new in 2025: €4,141
- Current portion of long-term debt +€3,386
new in 2025: €3,386
- Gross operating margin +€15,302
up €15,302 (+68.1%), from €22,485 to €37,787
- Taxes +€3,734
up €3,734 (+58.1%), from €6,429 to €10,163
- Financial income -€760
down €760 (-33.4%), from €2,277 to €1,516
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 | €111,902 | €102,618 | -€9,284 | -8.3% |
| Fixed assets | 21/28 | €27,573 | €22,590 | -€4,984 | -18.1% |
| Tangible fixed assets | 22/27 | €27,573 | €22,590 | -€4,984 | -18.1% |
| Land and buildings | 22 | €18,111 | €16,461 | -€1,650 | -9.1% |
| Furniture and vehicles | 24 | €9,462 | €6,129 | -€3,334 | -35.2% |
| Current assets | 29/58 | €84,329 | €80,028 | -€4,301 | -5.1% |
| Amounts receivable after more than one year | 29 | €50,000 | €35,000 | -€15,000 | -30.0% |
| Other amounts receivable | 291 | €50,000 | €35,000 | -€15,000 | -30.0% |
| Amounts receivable within one year | 40/41 | €19,396 | €25,408 | +€6,013 | +31.0% |
| Trade receivables | 40 | €4,000 | €23,542 | +€19,542 | +488.5% |
| Other amounts receivable | 41 | €15,396 | €1,867 | -€13,529 | -87.9% |
| Cash at bank and in hand | 54/58 | €14,438 | €18,919 | +€4,481 | +31.0% |
| Deferred charges and accrued income | 490/1 | €495 | €701 | +€206 | +41.6% |
| Total equity and liabilities | 10/49 | €111,902 | €102,618 | -€9,284 | -8.3% |
| Equity | 10/15 | €107,391 | €90,378 | -€17,012 | -15.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Outside capital | 11 | €1,000 | €1,000 | = | 0.0% |
| Other | 1109/19 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €105,700 | €87,700 | -€18,000 | -17.0% |
| Distributable reserves | 133 | €105,700 | €87,700 | -€18,000 | -17.0% |
| Profit (loss) carried forward | 14 | €691 | €1,678 | +€988 | +143.0% |
| Amounts payable | 17/49 | €4,511 | €12,239 | +€7,728 | +171.3% |
| Amounts payable within one year | 42/48 | €4,511 | €12,239 | +€7,728 | +171.3% |
| Current portion of amounts payable after more than one year | 42 | - | €3,386 | +€3,386 | |
| Trade debts | 44 | €3,080 | €2,373 | -€707 | -23.0% |
| Suppliers | 440/4 | €3,080 | €2,373 | -€707 | -23.0% |
| Taxes, remuneration and social security | 45 | - | €4,141 | +€4,141 | |
| Taxes | 450/3 | - | €4,141 | +€4,141 | |
| Other amounts payable | 47/48 | €1,431 | €2,339 | +€908 | +63.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,690 | €4,984 | +€294 | +6.3% |
| Other operating charges | 640/8 | €959 | €935 | -€24 | -2.5% |
| Gross operating margin | 9900 | €22,485 | €37,787 | +€15,302 | +68.1% |
| Operating profit (loss) | 9901 | €16,836 | €31,868 | +€15,032 | +89.3% |
| Financial income | 75/76B | €2,277 | €1,516 | -€760 | -33.4% |
| Recurring financial income | 75 | €2,277 | €1,516 | -€760 | -33.4% |
| Financial charges | 65/66B | €229 | €234 | +€5 | +2.1% |
| Recurring financial charges | 65 | €229 | €234 | +€5 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | €18,884 | €33,151 | +€14,267 | +75.5% |
| Income taxes | 67/77 | €6,429 | €10,163 | +€3,734 | +58.1% |
| Profit (loss) for the period | 9904 | €12,455 | €22,988 | +€10,533 | +84.6% |
| Profit (loss) for the period to be appropriated | 9905 | €12,455 | €22,988 | +€10,533 | +84.6% |
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 7 October 2026 via checked.be.