CFW 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.
CFW MANAGEMENT
Largest movements
- Financial fixed assets -€8,250
down €8,250 (-100.0%), from €8,250 to €0
- Receivables within one year -€5,368
down €5,368 (-6.8%), from €78,755 to €73,388
of which Other amounts receivable: -€5,692
- Profit (loss) carried forward -€11,211
down €11,211 (-27.3%), from €41,061 to €29,851
- Trade debts -€3,812
down €3,812 (-24.2%), from €15,751 to €11,939
- Tax, wage and social debts +€1,356
up €1,356 (+58.9%), from €2,304 to €3,660
- Gross operating margin +€1,504
up €1,504 (+10.7%), from -€14,062 to -€12,557
- Other operating charges +€610
up €610 (+157.6%), from €387 to €998
- Financial income -€577
down €577 (-12.0%), from €4,819 to €4,242
- Financial charges -€395
down €395 (-23.3%), from €1,694 to €1,299
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 | €88,876 | €75,210 | -€13,666 | -15.4% |
| Fixed assets | 21/28 | €8,773 | €80 | -€8,693 | -99.1% |
| Tangible fixed assets | 22/27 | €523 | €80 | -€443 | -84.7% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €523 | €80 | -€443 | -84.7% |
| Financial fixed assets | 28 | €8,250 | €0 | -€8,250 | -100.0% |
| Current assets | 29/58 | €80,103 | €75,130 | -€4,973 | -6.2% |
| Amounts receivable within one year | 40/41 | €78,755 | €73,388 | -€5,368 | -6.8% |
| Trade receivables | 40 | €867 | €1,191 | +€324 | +37.4% |
| Other amounts receivable | 41 | €77,888 | €72,196 | -€5,692 | -7.3% |
| Cash at bank and in hand | 54/58 | €1,348 | €1,742 | +€395 | +29.3% |
| Total equity and liabilities | 10/49 | €88,876 | €75,210 | -€13,666 | -15.4% |
| Equity | 10/15 | €70,821 | €59,611 | -€11,211 | -15.8% |
| Contributions | 10/11 | €29,760 | €29,760 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,061 | €29,851 | -€11,211 | -27.3% |
| Amounts payable | 17/49 | €18,055 | €15,600 | -€2,455 | -13.6% |
| Amounts payable within one year | 42/48 | €18,055 | €15,600 | -€2,455 | -13.6% |
| Trade debts | 44 | €15,751 | €11,939 | -€3,812 | -24.2% |
| Suppliers | 440/4 | €15,751 | €11,939 | -€3,812 | -24.2% |
| Taxes, remuneration and social security | 45 | €2,304 | €3,660 | +€1,356 | +58.9% |
| Taxes | 450/3 | €2,304 | €3,660 | +€1,356 | +58.9% |
| Non-recurring operating income | 76A | €3,463 | - | -€3,463 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €443 | €443 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €998 | +€610 | +157.6% |
| Non-recurring operating charges | 66A | €3,463 | - | -€3,463 | |
| Gross operating margin | 9900 | -€14,062 | -€12,557 | +€1,504 | +10.7% |
| Operating profit (loss) | 9901 | -€18,355 | -€13,998 | +€4,357 | +23.7% |
| Financial income | 75/76B | €4,819 | €4,242 | -€577 | -12.0% |
| Recurring financial income | 75 | €4,819 | €4,242 | -€577 | -12.0% |
| Financial charges | 65/66B | €1,694 | €1,299 | -€395 | -23.3% |
| Recurring financial charges | 65 | €1,694 | €1,299 | -€395 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | -€15,230 | -€11,055 | +€4,175 | +27.4% |
| Income taxes | 67/77 | €160 | €156 | -€4 | -2.2% |
| Profit (loss) for the period | 9904 | -€15,390 | -€11,211 | +€4,179 | +27.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,390 | -€11,211 | +€4,179 | +27.2% |
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.