CGA INTERNATIONAL: 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.
CGA INTERNATIONAL
Largest movements
- Receivables within one year -€18,477
down €18,477 (-90.1%), from €20,510 to €2,032
- Cash +€15,109
up €15,109 (+10.9%), from €138,454 to €153,563
mainly Net result for the year (+€21,472) and Receivables within one year (+€18,477)
- Tangible fixed assets -€7,577
down €7,577 (-30.7%), from €24,673 to €17,096
of which Furniture and vehicles: -€7,188
- Deferred charges and accrued income +€2,091
up €2,091 (+11.0%), from €19,017 to €21,108
- Reserves +€62,778
up €62,778 (+175%), from €35,788 to €98,567
of which Distributable reserves: +€62,778
- Profit (loss) carried forward -€41,306
no longer reported in 2025 (was €41,306)
- Trade debts -€21,437
down €21,437 (-24.1%), from €88,949 to €67,512
- Debts after one year -€4,109
down €4,109 (-43.4%), from €9,469 to €5,360
- Tax, wage and social debts -€2,568
down €2,568 (-25.7%), from €9,979 to €7,410
of which Remuneration and social security: -€4,788
- Staff costs -€18,391
down €18,391 (-21.6%), from €85,207 to €66,816
- Taxes +€10,184
up €10,184 (+165%), from €6,180 to €16,364
- Depreciation -€9,500
down €9,500 (-55.6%), from €17,077 to €7,577
- Gross operating margin -€8,222
down €8,222 (-6.7%), from €122,822 to €114,600
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 | €202,809 | €193,954 | -€8,855 | -4.4% |
| Fixed assets | 21/28 | €24,828 | €17,251 | -€7,577 | -30.5% |
| Tangible fixed assets | 22/27 | €24,673 | €17,096 | -€7,577 | -30.7% |
| Plant, machinery and equipment | 23 | €714 | €325 | -€390 | -54.5% |
| Furniture and vehicles | 24 | €23,959 | €16,771 | -€7,188 | -30.0% |
| Financial fixed assets | 28 | €155 | €155 | = | 0.0% |
| Current assets | 29/58 | €177,981 | €176,703 | -€1,278 | -0.7% |
| Amounts receivable within one year | 40/41 | €20,510 | €2,032 | -€18,477 | -90.1% |
| Other amounts receivable | 41 | €20,510 | €2,032 | -€18,477 | -90.1% |
| Cash at bank and in hand | 54/58 | €138,454 | €153,563 | +€15,109 | +10.9% |
| Deferred charges and accrued income | 490/1 | €19,017 | €21,108 | +€2,091 | +11.0% |
| Total equity and liabilities | 10/49 | €202,809 | €193,954 | -€8,855 | -4.4% |
| Equity | 10/15 | €83,294 | €104,767 | +€21,472 | +25.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €35,788 | €98,567 | +€62,778 | +175% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €33,788 | €96,567 | +€62,778 | +186% |
| Profit (loss) carried forward | 14 | €41,306 | - | -€41,306 | |
| Amounts payable | 17/49 | €119,514 | €89,187 | -€30,327 | -25.4% |
| Amounts payable after more than one year | 17 | €9,469 | €5,360 | -€4,109 | -43.4% |
| Financial debts | 170/4 | €9,469 | €5,360 | -€4,109 | -43.4% |
| Amounts payable within one year | 42/48 | €110,046 | €83,827 | -€26,218 | -23.8% |
| Current portion of amounts payable after more than one year | 42 | €11,118 | €8,905 | -€2,213 | -19.9% |
| Trade debts | 44 | €88,949 | €67,512 | -€21,437 | -24.1% |
| Suppliers | 440/4 | €88,949 | €67,512 | -€21,437 | -24.1% |
| Taxes, remuneration and social security | 45 | €9,979 | €7,410 | -€2,568 | -25.7% |
| Taxes | 450/3 | - | €2,219 | +€2,219 | |
| Remuneration and social security | 454/9 | €9,979 | €5,191 | -€4,788 | -48.0% |
| Remuneration, social security and pensions | 62 | €85,207 | €66,816 | -€18,391 | -21.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,077 | €7,577 | -€9,500 | -55.6% |
| Other operating charges | 640/8 | €556 | €1,313 | +€757 | +136% |
| Gross operating margin | 9900 | €122,822 | €114,600 | -€8,222 | -6.7% |
| Operating profit (loss) | 9901 | €19,982 | €38,894 | +€18,912 | +94.6% |
| Financial income | 75/76B | €433 | €671 | +€239 | +55.2% |
| Recurring financial income | 75 | €433 | €671 | +€239 | +55.2% |
| Financial charges | 65/66B | €2,447 | €1,729 | -€717 | -29.3% |
| Recurring financial charges | 65 | €2,447 | €1,729 | -€717 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €17,968 | €37,836 | +€19,868 | +111% |
| Income taxes | 67/77 | €6,180 | €16,364 | +€10,184 | +165% |
| Profit (loss) for the period | 9904 | €11,788 | €21,472 | +€9,684 | +82.1% |
| Profit (loss) for the period to be appropriated | 9905 | €11,788 | €21,472 | +€9,684 | +82.1% |
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 25 October 2026 via checked.be.