CG-C: 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.
CG-C
Largest movements
- Cash +€69,792
up €69,792 (+344.6%), from €20,250 to €90,043
mainly Net result for the year (+€49,465) and Current portion of long-term debt (+€25,000)
- Receivables within one year -€13,922
down €13,922 (-19.1%), from €73,006 to €59,083
of which Trade receivables: -€15,582
- Stocks and contracts -€11,791
down €11,791 (-33.9%), from €34,785 to €22,994
- Tangible fixed assets +€3,033
up €3,033 (+6.2%), from €49,242 to €52,275
of which Other tangible fixed assets: +€5,575
- Reserves +€49,465
up €49,465 (+36.9%), from €134,059 to €183,524
- Debts after one year -€25,000
no longer reported in 2025 (was €25,000)
- Current portion of long-term debt +€25,000
new in 2025: €25,000
- Staff costs +€5,271
new in 2025: €5,271
- Depreciation +€4,240
up €4,240 (+48.4%), from €8,764 to €13,004
- Gross operating margin +€2,930
up €2,930 (+3.4%), from €86,387 to €89,317
- Taxes -€1,324
down €1,324 (-7.2%), from €18,324 to €17,000
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 | €183,662 | €230,873 | +€47,210 | +25.7% |
| Fixed assets | 21/28 | €53,092 | €56,125 | +€3,033 | +5.7% |
| Tangible fixed assets | 22/27 | €49,242 | €52,275 | +€3,033 | +6.2% |
| Plant, machinery and equipment | 23 | €41,982 | €40,447 | -€1,535 | -3.7% |
| Furniture and vehicles | 24 | €1,537 | €530 | -€1,007 | -65.5% |
| Other tangible fixed assets | 26 | €5,723 | €11,298 | +€5,575 | +97.4% |
| Financial fixed assets | 28 | €3,850 | €3,850 | = | 0.0% |
| Current assets | 29/58 | €130,570 | €174,748 | +€44,178 | +33.8% |
| Stocks and contracts in progress | 3 | €34,785 | €22,994 | -€11,791 | -33.9% |
| Stocks | 30/36 | €34,785 | €22,994 | -€11,791 | -33.9% |
| Amounts receivable within one year | 40/41 | €73,006 | €59,083 | -€13,922 | -19.1% |
| Trade receivables | 40 | €70,665 | €55,083 | -€15,582 | -22.1% |
| Other amounts receivable | 41 | €2,341 | €4,000 | +€1,660 | +70.9% |
| Cash at bank and in hand | 54/58 | €20,250 | €90,043 | +€69,792 | +344.6% |
| Deferred charges and accrued income | 490/1 | €2,530 | €2,629 | +€99 | +3.9% |
| Total equity and liabilities | 10/49 | €183,662 | €230,873 | +€47,210 | +25.7% |
| Equity | 10/15 | €137,059 | €186,524 | +€49,465 | +36.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €134,059 | €183,524 | +€49,465 | +36.9% |
| Distributable reserves | 133 | €134,059 | €183,524 | +€49,465 | +36.9% |
| Amounts payable | 17/49 | €46,603 | €44,349 | -€2,254 | -4.8% |
| Amounts payable after more than one year | 17 | €25,000 | - | -€25,000 | |
| Financial debts | 170/4 | €25,000 | - | -€25,000 | |
| Amounts payable within one year | 42/48 | €21,603 | €44,349 | +€22,746 | +105.3% |
| Current portion of amounts payable after more than one year | 42 | - | €25,000 | +€25,000 | |
| Trade debts | 44 | €1,158 | €3,069 | +€1,911 | +165.1% |
| Suppliers | 440/4 | €1,158 | €3,069 | +€1,911 | +165.1% |
| Taxes, remuneration and social security | 45 | €3,540 | €1,648 | -€1,892 | -53.4% |
| Taxes | 450/3 | €3,540 | €1,296 | -€2,244 | -63.4% |
| Remuneration and social security | 454/9 | - | €352 | +€352 | |
| Other amounts payable | 47/48 | €16,905 | €14,631 | -€2,274 | -13.5% |
| Remuneration, social security and pensions | 62 | - | €5,271 | +€5,271 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,764 | €13,004 | +€4,240 | +48.4% |
| Other operating charges | 640/8 | €943 | €1,025 | +€82 | +8.7% |
| Gross operating margin | 9900 | €86,387 | €89,317 | +€2,930 | +3.4% |
| Operating profit (loss) | 9901 | €76,680 | €70,017 | -€6,663 | -8.7% |
| Financial income | 75/76B | €36 | €3 | -€33 | -93.0% |
| Recurring financial income | 75 | €36 | €3 | -€33 | -93.0% |
| Financial charges | 65/66B | €4,008 | €3,555 | -€453 | -11.3% |
| Recurring financial charges | 65 | €4,008 | €3,555 | -€453 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €72,707 | €66,464 | -€6,243 | -8.6% |
| Income taxes | 67/77 | €18,324 | €17,000 | -€1,324 | -7.2% |
| Profit (loss) for the period | 9904 | €54,384 | €49,465 | -€4,919 | -9.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,384 | €49,465 | -€4,919 | -9.0% |
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 10 October 2026 via checked.be.