CFE 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.
CFE MANAGEMENT
Largest movements
- Cash -€22,145
down €22,145 (-96.8%), from €22,883 to €738
mainly Other debts (-€19,455) and Deferred charges and accrued income (-€13,156)
- Deferred charges and accrued income +€13,156
up €13,156 (+398.4%), from €3,303 to €16,459
- Receivables within one year -€6,770
down €6,770 (-16.6%), from €40,770 to €34,000
of which Trade receivables: -€6,500
- Other debts -€19,455
down €19,455 (-87.6%), from €22,200 to €2,745
- Profit (loss) carried forward +€9,622
up €9,622 (+15.0%), from €64,004 to €73,626
- Debts after one year -€4,578
down €4,578 (-7.3%), from €62,425 to €57,847
- Gross operating margin -€8,925
down €8,925 (-32.6%), from €27,408 to €18,483
- Depreciation +€2,791
up €2,791 (+72.1%), from €3,871 to €6,662
- Financial income -€1,333
down €1,333 (-99.2%), from €1,343 to €10
- Financial charges -€555
down €555 (-27.0%), from €2,058 to €1,503
of which Non-recurring financial charges: -€317
- Taxes -€467
down €467 (-77.7%), from €601 to €134
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 | €166,463 | €151,820 | -€14,643 | -8.8% |
| Fixed assets | 21/28 | €99,507 | €100,623 | +€1,116 | +1.1% |
| Tangible fixed assets | 22/27 | €99,507 | €100,623 | +€1,116 | +1.1% |
| Land and buildings | 22 | €95,000 | €95,000 | = | 0.0% |
| Furniture and vehicles | 24 | €4,507 | €5,623 | +€1,116 | +24.8% |
| Current assets | 29/58 | €66,956 | €51,197 | -€15,759 | -23.5% |
| Amounts receivable within one year | 40/41 | €40,770 | €34,000 | -€6,770 | -16.6% |
| Trade receivables | 40 | €6,500 | - | -€6,500 | |
| Other amounts receivable | 41 | €34,270 | €34,000 | -€270 | -0.8% |
| Cash at bank and in hand | 54/58 | €22,883 | €738 | -€22,145 | -96.8% |
| Deferred charges and accrued income | 490/1 | €3,303 | €16,459 | +€13,156 | +398.4% |
| Total equity and liabilities | 10/49 | €166,463 | €151,820 | -€14,643 | -8.8% |
| Equity | 10/15 | €76,814 | €86,436 | +€9,622 | +12.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €410 | €410 | = | 0.0% |
| Non-distributable reserves | 130/1 | €410 | €410 | = | 0.0% |
| Reserves not available under the articles | 1311 | €410 | €410 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,004 | €73,626 | +€9,622 | +15.0% |
| Amounts payable | 17/49 | €89,649 | €65,384 | -€24,265 | -27.1% |
| Amounts payable after more than one year | 17 | €62,425 | €57,847 | -€4,578 | -7.3% |
| Financial debts | 170/4 | €62,425 | €57,847 | -€4,578 | -7.3% |
| Amounts payable within one year | 42/48 | €26,756 | €7,537 | -€19,218 | -71.8% |
| Current portion of amounts payable after more than one year | 42 | €4,499 | €4,578 | +€79 | +1.8% |
| Trade debts | 44 | €56 | €83 | +€27 | +48.1% |
| Suppliers | 440/4 | €56 | €83 | +€27 | +48.1% |
| Taxes, remuneration and social security | 45 | - | €131 | +€131 | |
| Taxes | 450/3 | - | €131 | +€131 | |
| Other amounts payable | 47/48 | €22,200 | €2,745 | -€19,455 | -87.6% |
| Accrued charges and deferred income | 492/3 | €469 | - | -€469 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,871 | €6,662 | +€2,791 | +72.1% |
| Other operating charges | 640/8 | €308 | €573 | +€265 | +86.0% |
| Gross operating margin | 9900 | €27,408 | €18,483 | -€8,925 | -32.6% |
| Operating profit (loss) | 9901 | €23,229 | €11,249 | -€11,980 | -51.6% |
| Financial income | 75/76B | €1,343 | €10 | -€1,333 | -99.2% |
| Recurring financial income | 75 | €1,343 | €10 | -€1,333 | -99.2% |
| Financial charges | 65/66B | €2,058 | €1,503 | -€555 | -27.0% |
| Recurring financial charges | 65 | €1,741 | €1,503 | -€238 | -13.7% |
| Non-recurring financial charges | 66B | €317 | - | -€317 | |
| Profit (loss) for the period before taxes | 9903 | €22,515 | €9,756 | -€12,758 | -56.7% |
| Income taxes | 67/77 | €601 | €134 | -€467 | -77.7% |
| Profit (loss) for the period | 9904 | €21,913 | €9,622 | -€12,291 | -56.1% |
| Profit (loss) for the period to be appropriated | 9905 | €21,913 | €9,622 | -€12,291 | -56.1% |
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 4 October 2026 via checked.be.