CGO Management: what changed
Two fiscal 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.
CGO Management
Largest movements
- Cash +€193,455
up €193,455 (+182.3%), from €106,127 to €299,582
mainly Net result for the year (+€155,104) and Tax, wage and social debts (+€47,585)
- Tangible fixed assets +€5,419
up €5,419 (+512.7%), from €1,057 to €6,476
- Profit (loss) carried forward +€150,104
up €150,104 (+163.1%), from €92,013 to €242,117
- Tax, wage and social debts +€47,585
up €47,585 (+113.7%), from €41,858 to €89,443
- Turnover +€143,494
up €143,494 (+49.0%), from €292,780 to €436,274
- Purchases and services +€76,073
up €76,073 (+41.0%), from €185,553 to €261,626
- Gross operating margin +€75,046
up €75,046 (+58.7%), from €127,793 to €202,839
- Taxes +€21,611
up €21,611 (+80.8%), from €26,755 to €48,366
- Financial income +€6,784
new in 2025: €6,784
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 | €156,372 | €356,871 | +€200,499 | +128.2% |
| Fixed assets | 21/28 | €1,057 | €6,476 | +€5,419 | +512.7% |
| Tangible fixed assets | 22/27 | €1,057 | €6,476 | +€5,419 | +512.7% |
| Furniture and vehicles | 24 | €1,057 | €6,476 | +€5,419 | +512.7% |
| Current assets | 29/58 | €155,315 | €350,395 | +€195,080 | +125.6% |
| Current investments | 50/53 | €49,188 | €50,813 | +€1,625 | +3.3% |
| Cash at bank and in hand | 54/58 | €106,127 | €299,582 | +€193,455 | +182.3% |
| Total equity and liabilities | 10/49 | €156,372 | €356,871 | +€200,499 | +128.2% |
| Equity | 10/15 | €102,013 | €252,117 | +€150,104 | +147.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Capital | 10 | €10,000 | €10,000 | = | 0.0% |
| Issued capital | 100 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €92,013 | €242,117 | +€150,104 | +163.1% |
| Amounts payable | 17/49 | €54,359 | €104,754 | +€50,395 | +92.7% |
| Amounts payable within one year | 42/48 | €54,359 | €104,754 | +€50,395 | +92.7% |
| Trade debts | 44 | €7,501 | €10,311 | +€2,810 | +37.5% |
| Suppliers | 440/4 | €7,501 | €10,311 | +€2,810 | +37.5% |
| Taxes, remuneration and social security | 45 | €41,858 | €89,443 | +€47,585 | +113.7% |
| Taxes | 450/3 | €41,858 | €89,443 | +€47,585 | +113.7% |
| Other amounts payable | 47/48 | €5,000 | €5,000 | = | 0.0% |
| Turnover | 70 | €292,780 | €436,274 | +€143,494 | +49.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €185,553 | €261,626 | +€76,073 | +41.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58 | €911 | +€853 | +1470.7% |
| Other operating charges | 640/8 | - | €184 | +€184 | |
| Non-recurring operating charges | 66A | - | €455 | +€455 | |
| Gross operating margin | 9900 | €127,793 | €202,839 | +€75,046 | +58.7% |
| Operating profit (loss) | 9901 | €127,735 | €201,289 | +€73,554 | +57.6% |
| Financial income | 75/76B | - | €6,784 | +€6,784 | |
| Recurring financial income | 75 | - | €6,784 | +€6,784 | |
| Financial charges | 65/66B | €3,967 | €4,603 | +€636 | +16.0% |
| Recurring financial charges | 65 | €3,549 | €4,603 | +€1,054 | +29.7% |
| Non-recurring financial charges | 66B | €418 | - | -€418 | |
| Profit (loss) for the period before taxes | 9903 | €123,768 | €203,470 | +€79,702 | +64.4% |
| Income taxes | 67/77 | €26,755 | €48,366 | +€21,611 | +80.8% |
| Profit (loss) for the period | 9904 | €97,013 | €155,104 | +€58,091 | +59.9% |
| Profit (loss) for the period to be appropriated | 9905 | €97,013 | €155,104 | +€58,091 | +59.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.