CGers: 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.
What changed
CGers
NACE 28.299, Manufacture of machinery and equipment not elsewhere classified
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€86,293
2024 · €48,900+€37,393
Equity
€2.2m
2024 · €2.1m+€83,427
Cash
€20,044
2024 · €318,053-€298,009
Balance sheet total
€3.3m
2024 · €2.9m+€379,872
Largest movements
Assets
- Receivables within one year +€476,396
up €476,396 (+75.0%), from €635,480 to €1.1m
of which Trade receivables: +€433,281
- Stocks and contracts +€410,000
up €410,000 (+45.7%), from €897,440 to €1.3m
of which Contracts in progress: +€280,000
- Cash -€298,009
down €298,009 (-93.7%), from €318,053 to €20,044
mainly Receivables within one year (-€476,396) and Stocks and contracts (-€410,000)
- Tangible fixed assets -€172,806
down €172,806 (-17.0%), from €1.0m to €846,396
Equity and liabilities
- Short-term financial debts +€220,000
new in 2025: €220,000
- Reserves +€86,293
up €86,293 (+4.2%), from €2.1m to €2.2m
- Trade debts +€81,755
up €81,755 (+36.4%), from €224,412 to €306,167
- Debts after one year -€63,024
down €63,024 (-18.3%), from €343,867 to €280,843
Income statement
- Gross operating margin +€133,996
up €133,996 (+10.2%), from €1.3m to €1.4m
- Staff costs +€85,826
up €85,826 (+8.8%), from €977,566 to €1.1m
- Depreciation -€34,826
down €34,826 (-14.3%), from €242,781 to €207,956
- Provisions +€18,813
up €18,813, from -€12,428 to €6,385
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.
Result 2024
€48,900
Gross operating margin
+€133,996
Staff costs
-€85,826
Depreciation
+€34,826
Provisions
-€18,813
Other operating charges
+€4,727
Financial income
-€13,827
Financial charges
-€8,525
Taxes
-€9,166
Result 2025
€86,293
raises the resultlowers the result
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.
From operations
-€458,658
Investment
-€15,092
Financing
+€175,742
Cash 2024
€318,053
From operations (derived)
-€458,658
Net result for the year
+€86,293
Depreciation
+€207,956
Stocks and contracts
-€410,000
Receivables within one year
-€476,396
Deferred charges and accrued income
+€15,652
Provisions
+€6,385
Trade debts
+€81,755
Tax, wage and social debts
+€29,490
Other debts
-€8,999
Accrued charges and deferred income
+€9,207
Investment (derived)
-€15,092
Investment in fixed assets (net)
-€15,092
Financing
+€175,742
Debts after one year
-€63,024
Current portion of long-term debt
+€21,632
Short-term financial debts
+€220,000
Contributions, distributions and other
-€2,866
Cash 2025
€20,044
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,943,207 | €3,323,079 | +€379,872 | +12.9% |
| Fixed assets | 21/28 | €1,053,889 | €861,026 | -€192,863 | -18.3% |
| Intangible fixed assets | 21 | €34,687 | €14,630 | -€20,057 | -57.8% |
| Tangible fixed assets | 22/27 | €1,019,202 | €846,396 | -€172,806 | -17.0% |
| Land and buildings | 22 | €548,805 | €508,529 | -€40,276 | -7.3% |
| Plant, machinery and equipment | 23 | €125,463 | €57,721 | -€67,742 | -54.0% |
| Furniture and vehicles | 24 | €56,076 | €44,105 | -€11,971 | -21.3% |
| Leasing and similar rights | 25 | €288,858 | €236,041 | -€52,818 | -18.3% |
| Current assets | 29/58 | €1,889,318 | €2,462,054 | +€572,736 | +30.3% |
| Stocks and contracts in progress | 3 | €897,440 | €1,307,440 | +€410,000 | +45.7% |
| Stocks | 30/36 | €127,000 | €257,000 | +€130,000 | +102% |
| Contracts in progress | 37 | €770,440 | €1,050,440 | +€280,000 | +36.3% |
| Amounts receivable within one year | 40/41 | €635,480 | €1,111,876 | +€476,396 | +75.0% |
| Trade receivables | 40 | €562,770 | €996,051 | +€433,281 | +77.0% |
| Other amounts receivable | 41 | €72,710 | €115,825 | +€43,115 | +59.3% |
| Cash at bank and in hand | 54/58 | €318,053 | €20,044 | -€298,009 | -93.7% |
| Deferred charges and accrued income | 490/1 | €38,345 | €22,693 | -€15,652 | -40.8% |
| Total equity and liabilities | 10/49 | €2,943,207 | €3,323,079 | +€379,872 | +12.9% |
| Equity | 10/15 | €2,127,142 | €2,210,569 | +€83,427 | +3.9% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €2,064,955 | €2,151,248 | +€86,293 | +4.2% |
| Distributable reserves | 133 | €2,064,955 | €2,151,248 | +€86,293 | +4.2% |
| Investment grants | 15 | €17,187 | €14,321 | -€2,866 | -16.7% |
| Provisions and deferred taxes | 16 | €60,681 | €67,066 | +€6,385 | +10.5% |
| Provisions for liabilities and charges | 160/5 | €60,681 | €67,066 | +€6,385 | +10.5% |
| Other liabilities and charges | 164/5 | €60,681 | €67,066 | +€6,385 | +10.5% |
| Amounts payable | 17/49 | €755,384 | €1,045,444 | +€290,060 | +38.4% |
| Amounts payable after more than one year | 17 | €343,867 | €280,843 | -€63,024 | -18.3% |
| Financial debts | 170/4 | €343,867 | €280,843 | -€63,024 | -18.3% |
| Amounts payable within one year | 42/48 | €411,517 | €755,395 | +€343,878 | +83.6% |
| Current portion of amounts payable after more than one year | 42 | €67,562 | €89,193 | +€21,632 | +32.0% |
| Financial debts | 43 | - | €220,000 | +€220,000 | |
| Credit institutions | 430/8 | - | €220,000 | +€220,000 | |
| Trade debts | 44 | €224,412 | €306,167 | +€81,755 | +36.4% |
| Suppliers | 440/4 | €224,412 | €306,167 | +€81,755 | +36.4% |
| Taxes, remuneration and social security | 45 | €103,245 | €132,735 | +€29,490 | +28.6% |
| Taxes | 450/3 | €5,473 | €28,583 | +€23,110 | +422% |
| Remuneration and social security | 454/9 | €97,772 | €104,152 | +€6,380 | +6.5% |
| Other amounts payable | 47/48 | €16,299 | €7,300 | -€8,999 | -55.2% |
| Accrued charges and deferred income | 492/3 | - | €9,207 | +€9,207 | |
| Remuneration, social security and pensions | 62 | €977,566 | €1,063,393 | +€85,826 | +8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €242,781 | €207,956 | -€34,826 | -14.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€12,428 | €6,385 | +€18,813 | |
| Other operating charges | 640/8 | €24,492 | €19,764 | -€4,727 | -19.3% |
| Gross operating margin | 9900 | €1,312,402 | €1,446,398 | +€133,996 | +10.2% |
| Operating profit (loss) | 9901 | €79,991 | €148,901 | +€68,910 | +86.1% |
| Financial income | 75/76B | €17,914 | €4,087 | -€13,827 | -77.2% |
| Recurring financial income | 75 | €17,914 | €4,087 | -€13,827 | -77.2% |
| Financial charges | 65/66B | €19,085 | €27,610 | +€8,525 | +44.7% |
| Recurring financial charges | 65 | €19,085 | €27,610 | +€8,525 | +44.7% |
| Profit (loss) for the period before taxes | 9903 | €78,819 | €125,377 | +€46,558 | +59.1% |
| Income taxes | 67/77 | €29,919 | €39,085 | +€9,166 | +30.6% |
| Profit (loss) for the period | 9904 | €48,900 | €86,293 | +€37,393 | +76.5% |
| Profit (loss) for the period to be appropriated | 9905 | €48,900 | €86,293 | +€37,393 | +76.5% |
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 15 October 2026 via checked.be.