CFS Brussels: 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.
CFS Brussels
Largest movements
- Receivables within one year -€74,254
down €74,254 (-10.7%), from €696,817 to €622,563
of which Other amounts receivable: -€91,173
- Cash +€35,889
up €35,889 (+462%), from €7,762 to €43,651
mainly Net result for the year (+€76,255) and Receivables within one year (+€74,254)
- Intangible fixed assets +€17,448
up €17,448 (+25.1%), from €69,583 to €87,031
- Accrued charges and deferred income +€39,562
up €39,562 (+30.5%), from €129,638 to €169,201
- Tax, wage and social debts -€36,263
down €36,263 (-21.7%), from €166,824 to €130,562
of which Remuneration and social security: -€69,207
- Short-term financial debts -€30,245
down €30,245 (-8.7%), from €347,890 to €317,645
- Trade debts -€19,603
down €19,603 (-11.5%), from €170,138 to €150,534
- Other debts +€19,551
up €19,551 (+29.4%), from €66,500 to €86,051
- Staff costs -€160,869
down €160,869 (-22.5%), from €713,651 to €552,782
- Gross operating margin -€110,430
down €110,430 (-13.3%), from €832,116 to €721,686
- Taxes +€12,938
up €12,938 (+55.4%), from €23,360 to €36,298
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 | €936,205 | €903,798 | -€32,407 | -3.5% |
| Fixed assets | 21/28 | €108,446 | €117,121 | +€8,675 | +8.0% |
| Intangible fixed assets | 21 | €69,583 | €87,031 | +€17,448 | +25.1% |
| Tangible fixed assets | 22/27 | €32,957 | €24,184 | -€8,773 | -26.6% |
| Furniture and vehicles | 24 | €32,957 | €24,184 | -€8,773 | -26.6% |
| Financial fixed assets | 28 | €5,906 | €5,906 | = | 0.0% |
| Current assets | 29/58 | €827,759 | €786,676 | -€41,083 | -5.0% |
| Amounts receivable within one year | 40/41 | €696,817 | €622,563 | -€74,254 | -10.7% |
| Trade receivables | 40 | €365,602 | €382,521 | +€16,919 | +4.6% |
| Other amounts receivable | 41 | €331,215 | €240,043 | -€91,173 | -27.5% |
| Cash at bank and in hand | 54/58 | €7,762 | €43,651 | +€35,889 | +462% |
| Deferred charges and accrued income | 490/1 | €123,180 | €120,462 | -€2,718 | -2.2% |
| Total equity and liabilities | 10/49 | €936,205 | €903,798 | -€32,407 | -3.5% |
| Equity | 10/15 | €38,125 | €38,329 | +€204 | +0.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €8,125 | €8,329 | +€204 | +2.5% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €5,125 | €5,329 | +€204 | +4.0% |
| Amounts payable | 17/49 | €898,080 | €865,468 | -€32,612 | -3.6% |
| Amounts payable after more than one year | 17 | €11,476 | €5,610 | -€5,867 | -51.1% |
| Financial debts | 170/4 | €11,476 | €5,610 | -€5,867 | -51.1% |
| Amounts payable within one year | 42/48 | €756,966 | €690,658 | -€66,307 | -8.8% |
| Current portion of amounts payable after more than one year | 42 | €5,614 | €5,867 | +€253 | +4.5% |
| Financial debts | 43 | €347,890 | €317,645 | -€30,245 | -8.7% |
| Credit institutions | 430/8 | €347,890 | €317,645 | -€30,245 | -8.7% |
| Trade debts | 44 | €170,138 | €150,534 | -€19,603 | -11.5% |
| Suppliers | 440/4 | €170,138 | €150,534 | -€19,603 | -11.5% |
| Taxes, remuneration and social security | 45 | €166,824 | €130,562 | -€36,263 | -21.7% |
| Taxes | 450/3 | €74,196 | €107,141 | +€32,945 | +44.4% |
| Remuneration and social security | 454/9 | €92,628 | €23,421 | -€69,207 | -74.7% |
| Other amounts payable | 47/48 | €66,500 | €86,051 | +€19,551 | +29.4% |
| Accrued charges and deferred income | 492/3 | €129,638 | €169,201 | +€39,562 | +30.5% |
| Non-recurring operating income | 76A | €1,086 | - | -€1,086 | |
| Remuneration, social security and pensions | 62 | €713,651 | €552,782 | -€160,869 | -22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,187 | €28,541 | +€1,354 | +5.0% |
| Other operating charges | 640/8 | €1,503 | €6,268 | +€4,765 | +317% |
| Gross operating margin | 9900 | €832,116 | €721,686 | -€110,430 | -13.3% |
| Operating profit (loss) | 9901 | €89,775 | €134,095 | +€44,319 | +49.4% |
| Financial income | 75/76B | €4 | €4 | +€1 | +18.1% |
| Recurring financial income | 75 | €4 | €4 | +€1 | +18.1% |
| Financial charges | 65/66B | €28,569 | €21,546 | -€7,023 | -24.6% |
| Recurring financial charges | 65 | €28,569 | €21,546 | -€7,023 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €61,210 | €112,553 | +€51,343 | +83.9% |
| Income taxes | 67/77 | €23,360 | €36,298 | +€12,938 | +55.4% |
| Profit (loss) for the period | 9904 | €37,850 | €76,255 | +€38,405 | +101% |
| Profit (loss) for the period to be appropriated | 9905 | €37,850 | €76,255 | +€38,405 | +101% |
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 15 October 2026 via checked.be.