CGF Partner: 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.
CGF Partner
Largest movements
- Receivables within one year +€22,938
up €22,938 (+109.2%), from €21,014 to €43,952
of which Trade receivables: +€14,938
- Cash +€15,080
up €15,080 (+13.9%), from €108,167 to €123,247
mainly Net result for the year (+€44,527) and Current portion of long-term debt (+€8,221)
- Tangible fixed assets -€5,420
down €5,420 (-1.8%), from €303,299 to €297,878
of which Land and buildings: -€4,551
- Profit (loss) carried forward +€44,527
up €44,527 (+16.9%), from €263,857 to €308,384
- Debts after one year -€10,135
down €10,135 (-27.8%), from €36,462 to €26,327
- Other debts -€8,853
down €8,853 (-11.2%), from €78,951 to €70,097
- Current portion of long-term debt +€8,221
up €8,221 (+92.2%), from €8,914 to €17,135
- Trade debts -€7,843
down €7,843 (-76.1%), from €10,308 to €2,464
- Gross operating margin -€20,250
down €20,250 (-24.0%), from €84,273 to €64,023
- Taxes -€15,409
down €15,409 (-60.7%), from €25,403 to €9,994
- Depreciation +€870
up €870 (+19.1%), from €4,551 to €5,420
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 | €433,631 | €466,911 | +€33,279 | +7.7% |
| Fixed assets | 21/28 | €303,299 | €297,878 | -€5,420 | -1.8% |
| Tangible fixed assets | 22/27 | €303,299 | €297,878 | -€5,420 | -1.8% |
| Land and buildings | 22 | €298,951 | €294,400 | -€4,551 | -1.5% |
| Plant, machinery and equipment | 23 | €4,348 | €3,478 | -€870 | -20.0% |
| Current assets | 29/58 | €130,333 | €169,033 | +€38,700 | +29.7% |
| Amounts receivable within one year | 40/41 | €21,014 | €43,952 | +€22,938 | +109.2% |
| Trade receivables | 40 | €21,014 | €35,952 | +€14,938 | +71.1% |
| Other amounts receivable | 41 | - | €8,000 | +€8,000 | |
| Cash at bank and in hand | 54/58 | €108,167 | €123,247 | +€15,080 | +13.9% |
| Deferred charges and accrued income | 490/1 | €1,152 | €1,833 | +€682 | +59.2% |
| Total equity and liabilities | 10/49 | €433,631 | €466,911 | +€33,279 | +7.7% |
| Equity | 10/15 | €293,577 | €338,104 | +€44,527 | +15.2% |
| Contributions | 10/11 | €9,110 | €9,110 | = | 0.0% |
| Contributions outside capital | 11 | €9,110 | €9,110 | = | 0.0% |
| Share premium | 1100/10 | €9,110 | €9,110 | = | 0.0% |
| Reserves | 13 | €20,609 | €20,609 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €263,857 | €308,384 | +€44,527 | +16.9% |
| Amounts payable | 17/49 | €140,055 | €128,807 | -€11,248 | -8.0% |
| Amounts payable after more than one year | 17 | €36,462 | €26,327 | -€10,135 | -27.8% |
| Financial debts | 170/4 | €36,462 | €26,327 | -€10,135 | -27.8% |
| Amounts payable within one year | 42/48 | €102,690 | €94,249 | -€8,441 | -8.2% |
| Current portion of amounts payable after more than one year | 42 | €8,914 | €17,135 | +€8,221 | +92.2% |
| Trade debts | 44 | €10,308 | €2,464 | -€7,843 | -76.1% |
| Suppliers | 440/4 | €10,308 | €2,464 | -€7,843 | -76.1% |
| Taxes, remuneration and social security | 45 | €4,518 | €4,553 | +€35 | +0.8% |
| Taxes | 450/3 | €4,518 | €4,553 | +€35 | +0.8% |
| Other amounts payable | 47/48 | €78,951 | €70,097 | -€8,853 | -11.2% |
| Accrued charges and deferred income | 492/3 | €903 | €8,231 | +€7,328 | +811.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,551 | €5,420 | +€870 | +19.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,281 | €663 | -€619 | -48.3% |
| Other operating charges | 640/8 | €1,504 | €1,550 | +€46 | +3.1% |
| Gross operating margin | 9900 | €84,273 | €64,023 | -€20,250 | -24.0% |
| Operating profit (loss) | 9901 | €76,937 | €56,390 | -€20,547 | -26.7% |
| Financial income | 75/76B | €281 | €307 | +€25 | +9.0% |
| Recurring financial income | 75 | €281 | €307 | +€25 | +9.0% |
| Financial charges | 65/66B | €2,460 | €2,175 | -€284 | -11.6% |
| Recurring financial charges | 65 | €2,460 | €2,175 | -€284 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €74,759 | €54,521 | -€20,237 | -27.1% |
| Income taxes | 67/77 | €25,403 | €9,994 | -€15,409 | -60.7% |
| Profit (loss) for the period | 9904 | €49,355 | €44,527 | -€4,828 | -9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €49,355 | €44,527 | -€4,828 | -9.8% |
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.