CGN INVEST: what changed
CGN INVEST
Largest movements
- Receivables within one year +€173,416
up €173,416 (+260%), from €66,599 to €240,015
of which Other amounts receivable: +€212,656
- Tangible fixed assets -€56,385
down €56,385 (-61.3%), from €91,910 to €35,525
of which Land and buildings: -€54,692
- Cash +€38,143
up €38,143 (+88.5%), from €43,119 to €81,263
mainly Other debts (+€179,689) and Investment in fixed assets (net) (+€48,130)
- Other debts +€179,689
up €179,689 (+102%), from €175,416 to €355,105
- Trade debts -€57,925
down €57,925 (-98.3%), from €58,927 to €1,002
- Reserves +€18,750
up €18,750 (+55.2%), from €33,942 to €52,692
of which Distributable reserves: +€18,750
- Profit (loss) carried forward +€9,302
up €9,302, from -€9,244 to €58
- Tax, wage and social debts +€5,364
up €5,364 (+63.5%), from €8,450 to €13,814
of which Taxes: +€6,364
- Gross operating margin +€46,285
up €46,285 (+2,961%), from €1,563 to €47,848
- Taxes +€7,303
up €7,303 (+1,891%), from €386 to €7,689
- Depreciation -€6,595
down €6,595 (-44.4%), from €14,850 to €8,254
- Other operating charges +€945
up €945 (+34.1%), from €2,772 to €3,717
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €294,112 | €449,291 | +€155,179 | +52.8% |
| Fixed assets | 21/28 | €91,910 | €35,525 | -€56,385 | -61.3% |
| Tangible fixed assets | 22/27 | €91,910 | €35,525 | -€56,385 | -61.3% |
| Land and buildings | 22 | €54,692 | - | -€54,692 | |
| Plant, machinery and equipment | 23 | €2,036 | €1,973 | -€64 | -3.1% |
| Furniture and vehicles | 24 | €25,739 | €24,109 | -€1,629 | -6.3% |
| Assets under construction and advance payments | 27 | €9,443 | €9,443 | = | 0.0% |
| Current assets | 29/58 | €202,202 | €413,766 | +€211,564 | +105% |
| Stocks and contracts in progress | 3 | €92,470 | €92,470 | = | 0.0% |
| Stocks | 30/36 | €92,470 | €92,470 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €66,599 | €240,015 | +€173,416 | +260% |
| Trade receivables | 40 | €60,603 | €21,363 | -€39,240 | -64.7% |
| Other amounts receivable | 41 | €5,996 | €218,652 | +€212,656 | +3,547% |
| Cash at bank and in hand | 54/58 | €43,119 | €81,263 | +€38,143 | +88.5% |
| Deferred charges and accrued income | 490/1 | €14 | €18 | +€4 | +30.7% |
| Total equity and liabilities | 10/49 | €294,112 | €449,291 | +€155,179 | +52.8% |
| Equity | 10/15 | €43,298 | €71,350 | +€28,052 | +64.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €33,942 | €52,692 | +€18,750 | +55.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €32,082 | €32,082 | = | 0.0% |
| Distributable reserves | 133 | - | €18,750 | +€18,750 | |
| Profit (loss) carried forward | 14 | -€9,244 | €58 | +€9,302 | |
| Provisions and deferred taxes | 16 | €8,021 | €8,021 | = | 0.0% |
| Deferred taxes | 168 | €8,021 | €8,021 | = | 0.0% |
| Amounts payable | 17/49 | €242,793 | €369,920 | +€127,127 | +52.4% |
| Amounts payable within one year | 42/48 | €242,793 | €369,920 | +€127,127 | +52.4% |
| Trade debts | 44 | €58,927 | €1,002 | -€57,925 | -98.3% |
| Suppliers | 440/4 | €58,927 | €1,002 | -€57,925 | -98.3% |
| Taxes, remuneration and social security | 45 | €8,450 | €13,814 | +€5,364 | +63.5% |
| Taxes | 450/3 | €7,450 | €13,814 | +€6,364 | +85.4% |
| Remuneration and social security | 454/9 | €1,000 | - | -€1,000 | |
| Other amounts payable | 47/48 | €175,416 | €355,105 | +€179,689 | +102% |
| Non-recurring operating income | 76A | - | €8,936 | +€8,936 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,850 | €8,254 | -€6,595 | -44.4% |
| Other operating charges | 640/8 | €2,772 | €3,717 | +€945 | +34.1% |
| Gross operating margin | 9900 | €1,563 | €47,848 | +€46,285 | +2,961% |
| Operating profit (loss) | 9901 | -€16,059 | €35,877 | +€51,935 | |
| Financial income | 75/76B | €445 | €6 | -€439 | -98.6% |
| Recurring financial income | 75 | €445 | €6 | -€439 | -98.6% |
| Financial charges | 65/66B | €150 | €142 | -€7 | -5.0% |
| Recurring financial charges | 65 | €150 | €142 | -€7 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | -€15,763 | €35,741 | +€51,504 | |
| Income taxes | 67/77 | €386 | €7,689 | +€7,303 | +1,891% |
| Profit (loss) for the period | 9904 | -€16,149 | €28,052 | +€44,201 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,149 | €28,052 | +€44,201 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.