CFAG INVEST: what changed
CFAG INVEST
Largest movements
- Financial fixed assets -€450,000
no longer reported in 2025 (was €450,000)
- Tangible fixed assets +€271,883
up €271,883 (+78.3%), from €347,094 to €618,977
- Receivables after one year +€205,000
new in 2025: €205,000
- Receivables within one year -€15,200
down €15,200 (-83.5%), from €18,200 to €3,000
- Cash +€10,110
up €10,110 (+150%), from €6,728 to €16,838
mainly Net result for the year (+€130,443) and Investment in fixed assets (net) (+€125,994)
- Debts after one year -€112,282
down €112,282 (-15.3%), from €732,301 to €620,019
of which Other amounts payable: -€178,451
- Profit (loss) carried forward +€80,443
up €80,443 (+3,364%), from €2,391 to €82,834
- Reserves +€50,000
up €50,000 (+200%), from €25,000 to €75,000
- Financial income +€180,889
up €180,889 (+922%), from €19,621 to €200,510
of which Non-recurring financial income: +€200,000
- Depreciation +€44,169
up €44,169 (+555%), from €7,955 to €52,124
- Gross operating margin -€19,906
down €19,906 (-53.5%), from €37,242 to €17,335
- Financial charges +€5,541
up €5,541 (+27.7%), from €19,994 to €25,535
- Other operating charges +€4,744
new in 2025: €4,744
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €822,022 | €843,814 | +€21,793 | +2.7% |
| Fixed assets | 21/28 | €797,094 | €618,977 | -€178,117 | -22.3% |
| Tangible fixed assets | 22/27 | €347,094 | €618,977 | +€271,883 | +78.3% |
| Land and buildings | 22 | €347,094 | €618,977 | +€271,883 | +78.3% |
| Financial fixed assets | 28 | €450,000 | - | -€450,000 | |
| Current assets | 29/58 | €24,928 | €224,838 | +€199,910 | +802% |
| Amounts receivable after more than one year | 29 | - | €205,000 | +€205,000 | |
| Other amounts receivable | 291 | - | €205,000 | +€205,000 | |
| Amounts receivable within one year | 40/41 | €18,200 | €3,000 | -€15,200 | -83.5% |
| Other amounts receivable | 41 | €18,200 | €3,000 | -€15,200 | -83.5% |
| Cash at bank and in hand | 54/58 | €6,728 | €16,838 | +€10,110 | +150% |
| Total equity and liabilities | 10/49 | €822,022 | €843,814 | +€21,793 | +2.7% |
| Equity | 10/15 | €37,391 | €167,834 | +€130,443 | +349% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €25,000 | €75,000 | +€50,000 | +200% |
| Distributable reserves | 133 | €25,000 | €75,000 | +€50,000 | +200% |
| Profit (loss) carried forward | 14 | €2,391 | €82,834 | +€80,443 | +3,364% |
| Amounts payable | 17/49 | €784,631 | €675,980 | -€108,650 | -13.8% |
| Amounts payable after more than one year | 17 | €732,301 | €620,019 | -€112,282 | -15.3% |
| Financial debts | 170/4 | €533,900 | €600,069 | +€66,169 | +12.4% |
| Other amounts payable | 178/9 | €198,401 | €19,950 | -€178,451 | -89.9% |
| Amounts payable within one year | 42/48 | €52,329 | €54,561 | +€2,232 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | €49,510 | €45,231 | -€4,280 | -8.6% |
| Trade debts | 44 | - | €1,831 | +€1,831 | |
| Suppliers | 440/4 | - | €1,831 | +€1,831 | |
| Taxes, remuneration and social security | 45 | €2,500 | €2,500 | = | 0.0% |
| Taxes | 450/3 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €319 | €5,000 | +€4,681 | +1,466% |
| Accrued charges and deferred income | 492/3 | - | €1,400 | +€1,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,955 | €52,124 | +€44,169 | +555% |
| Other operating charges | 640/8 | - | €4,744 | +€4,744 | |
| Gross operating margin | 9900 | €37,242 | €17,335 | -€19,906 | -53.5% |
| Operating profit (loss) | 9901 | €29,287 | -€39,532 | -€68,820 | |
| Financial income | 75/76B | €19,621 | €200,510 | +€180,889 | +922% |
| Recurring financial income | 75 | €19,621 | €510 | -€19,111 | -97.4% |
| Non-recurring financial income | 76B | - | €200,000 | +€200,000 | |
| Financial charges | 65/66B | €19,994 | €25,535 | +€5,541 | +27.7% |
| Recurring financial charges | 65 | €19,994 | €25,535 | +€5,541 | +27.7% |
| Profit (loss) for the period before taxes | 9903 | €28,915 | €135,443 | +€106,528 | +368% |
| Income taxes | 67/77 | €2,500 | €5,000 | +€2,500 | +100% |
| Profit (loss) for the period | 9904 | €26,415 | €130,443 | +€104,028 | +394% |
| Profit (loss) for the period to be appropriated | 9905 | €26,415 | €130,443 | +€104,028 | +394% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.