CFin: what changed
Two financial 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.
CFin
Largest movements
- Tangible fixed assets +€700,567
up €700,567 (+11,165%), from €6,275 to €706,842
of which Land and buildings: +€686,792
- Current investments -€175,766
no longer reported in 2025 (was €175,766)
- Receivables after one year +€99,003
new in 2025: €99,003
- Receivables within one year +€56,290
up €56,290 (+136%), from €41,491 to €97,781
of which Trade receivables: +€31,866
- Cash +€27,462
up €27,462 (+113%), from €24,327 to €51,790
mainly Debts after one year (+€610,534) and Current investments (+€175,766)
- Debts after one year +€610,534
new in 2025: €610,534
- Reserves +€79,597
up €79,597 (+42.0%), from €189,664 to €269,262
- Current portion of long-term debt +€42,815
new in 2025: €42,815
- Tax, wage and social debts -€14,945
down €14,945 (-32.8%), from €45,551 to €30,606
- Depreciation +€107,907
up €107,907 (+5,186%), from €2,081 to €109,987
- Gross operating margin +€65,035
up €65,035 (+39.8%), from €163,326 to €228,361
- Taxes -€13,899
down €13,899 (-38.2%), from €36,353 to €22,454
- Financial charges +€13,139
up €13,139 (+444%), from €2,960 to €16,099
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.
Derived cash bridge
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 | €249,642 | €958,420 | +€708,778 | +284% |
| Fixed assets | 21/28 | €6,275 | €706,842 | +€700,567 | +11,165% |
| Tangible fixed assets | 22/27 | €6,275 | €706,842 | +€700,567 | +11,165% |
| Land and buildings | 22 | - | €686,792 | +€686,792 | |
| Plant, machinery and equipment | 23 | €2,460 | €8,368 | +€5,908 | +240% |
| Furniture and vehicles | 24 | €3,815 | €11,682 | +€7,867 | +206% |
| Current assets | 29/58 | €243,367 | €251,578 | +€8,211 | +3.4% |
| Amounts receivable after more than one year | 29 | - | €99,003 | +€99,003 | |
| Other amounts receivable | 291 | - | €99,003 | +€99,003 | |
| Amounts receivable within one year | 40/41 | €41,491 | €97,781 | +€56,290 | +136% |
| Trade receivables | 40 | €39,904 | €71,771 | +€31,866 | +79.9% |
| Other amounts receivable | 41 | €1,587 | €26,010 | +€24,424 | +1,539% |
| Current investments | 50/53 | €175,766 | - | -€175,766 | |
| Cash at bank and in hand | 54/58 | €24,327 | €51,790 | +€27,462 | +113% |
| Deferred charges and accrued income | 490/1 | €1,782 | €3,004 | +€1,222 | +68.6% |
| Total equity and liabilities | 10/49 | €249,642 | €958,420 | +€708,778 | +284% |
| Equity | 10/15 | €194,664 | €274,262 | +€79,597 | +40.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €189,664 | €269,262 | +€79,597 | +42.0% |
| Distributable reserves | 133 | €189,664 | €269,262 | +€79,597 | +42.0% |
| Amounts payable | 17/49 | €54,978 | €684,158 | +€629,181 | +1,144% |
| Amounts payable after more than one year | 17 | - | €610,534 | +€610,534 | |
| Financial debts | 170/4 | - | €610,534 | +€610,534 | |
| Amounts payable within one year | 42/48 | €54,978 | €73,625 | +€18,647 | +33.9% |
| Current portion of amounts payable after more than one year | 42 | - | €42,815 | +€42,815 | |
| Trade debts | 44 | €7,207 | €204 | -€7,003 | -97.2% |
| Suppliers | 440/4 | €7,207 | €204 | -€7,003 | -97.2% |
| Taxes, remuneration and social security | 45 | €45,551 | €30,606 | -€14,945 | -32.8% |
| Taxes | 450/3 | €45,551 | €30,606 | -€14,945 | -32.8% |
| Other amounts payable | 47/48 | €2,220 | - | -€2,220 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,081 | €109,987 | +€107,907 | +5,186% |
| Other operating charges | 640/8 | €932 | €1,938 | +€1,006 | +108% |
| Gross operating margin | 9900 | €163,326 | €228,361 | +€65,035 | +39.8% |
| Operating profit (loss) | 9901 | €160,313 | €116,435 | -€43,878 | -27.4% |
| Financial income | 75/76B | €1,279 | €1,715 | +€436 | +34.1% |
| Recurring financial income | 75 | €1,279 | €1,715 | +€436 | +34.1% |
| Financial charges | 65/66B | €2,960 | €16,099 | +€13,139 | +444% |
| Recurring financial charges | 65 | €2,960 | €16,099 | +€13,139 | +444% |
| Profit (loss) for the period before taxes | 9903 | €158,632 | €102,051 | -€56,581 | -35.7% |
| Income taxes | 67/77 | €36,353 | €22,454 | -€13,899 | -38.2% |
| Profit (loss) for the period | 9904 | €122,279 | €79,597 | -€42,682 | -34.9% |
| Profit (loss) for the period to be appropriated | 9905 | €122,279 | €79,597 | -€42,682 | -34.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.