CFO Centre: 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.
CFO Centre
Largest movements
- Receivables within one year +€13,614
up €13,614 (+6.4%), from €213,253 to €226,867
of which Trade receivables: +€11,806
- Deferred charges and accrued income +€9,467
new in 2025: €9,467
- Cash -€4,505
down €4,505 (-12.8%), from €35,236 to €30,731
mainly Receivables within one year (-€13,614) and Deferred charges and accrued income (-€9,467)
- Trade debts +€14,837
up €14,837 (+6.7%), from €220,392 to €235,229
- Tax, wage and social debts +€4,023
up €4,023 (+26.7%), from €15,067 to €19,090
- Write-downs +€28,772
up €28,772, from -€28,772 to €0
- Other operating charges -€28,758
down €28,758 (-98.1%), from €29,323 to €566
- Taxes +€1,037
new in 2025: €1,037
- Gross operating margin +€1,022
up €1,022 (+94.4%), from €1,082 to €2,104
- Financial charges -€42
down €42 (-6.9%), from €602 to €561
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 | €248,489 | €267,332 | +€18,843 | +7.6% |
| Fixed assets | 21/28 | - | €267 | +€267 | |
| Financial fixed assets | 28 | - | €267 | +€267 | |
| Current assets | 29/58 | €248,489 | €267,065 | +€18,576 | +7.5% |
| Amounts receivable within one year | 40/41 | €213,253 | €226,867 | +€13,614 | +6.4% |
| Trade receivables | 40 | €213,253 | €225,058 | +€11,806 | +5.5% |
| Other amounts receivable | 41 | - | €1,809 | +€1,809 | |
| Cash at bank and in hand | 54/58 | €35,236 | €30,731 | -€4,505 | -12.8% |
| Deferred charges and accrued income | 490/1 | - | €9,467 | +€9,467 | |
| Total equity and liabilities | 10/49 | €248,489 | €267,332 | +€18,843 | +7.6% |
| Equity | 10/15 | €13,030 | €13,013 | -€17 | -0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,570 | -€5,587 | -€17 | -0.3% |
| Amounts payable | 17/49 | €235,459 | €254,319 | +€18,860 | +8.0% |
| Amounts payable within one year | 42/48 | €235,459 | €254,319 | +€18,860 | +8.0% |
| Trade debts | 44 | €220,392 | €235,229 | +€14,837 | +6.7% |
| Suppliers | 440/4 | €220,392 | €235,229 | +€14,837 | +6.7% |
| Taxes, remuneration and social security | 45 | €15,067 | €19,090 | +€4,023 | +26.7% |
| Taxes | 450/3 | €15,067 | €19,090 | +€4,023 | +26.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€28,772 | €0 | +€28,772 | |
| Other operating charges | 640/8 | €29,323 | €566 | -€28,758 | -98.1% |
| Gross operating margin | 9900 | €1,082 | €2,104 | +€1,022 | +94.4% |
| Operating profit (loss) | 9901 | €531 | €1,539 | +€1,008 | +190% |
| Financial income | 75/76B | €11 | €42 | +€31 | +289% |
| Recurring financial income | 75 | €11 | €42 | +€31 | +289% |
| Financial charges | 65/66B | €602 | €561 | -€42 | -6.9% |
| Recurring financial charges | 65 | €602 | €561 | -€42 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | -€60 | €1,020 | +€1,080 | |
| Income taxes | 67/77 | - | €1,037 | +€1,037 | |
| Profit (loss) for the period | 9904 | -€60 | -€17 | +€44 | +72.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€60 | -€17 | +€44 | +72.5% |
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 14 October 2026 via checked.be.