CL: 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.
CL
Largest movements
- Stocks and contracts +€323,505
up €323,505 (+68.5%), from €472,467 to €795,972
- Cash -€242,649
down €242,649 (-68.2%), from €355,963 to €113,314
mainly Stocks and contracts (-€323,505) and Trade debts (-€123,441)
- Receivables within one year +€12,312
up €12,312 (+542.8%), from €2,268 to €14,581
of which Trade receivables: +€12,312
- Reserves +€138,164
up €138,164 (+37.8%), from €365,474 to €503,638
- Other debts +€127,339
up €127,339 (+124.8%), from €102,067 to €229,406
- Trade debts -€123,441
down €123,441 (-51.7%), from €238,875 to €115,434
- Tax, wage and social debts -€52,225
down €52,225 (-44.1%), from €118,419 to €66,194
- Gross operating margin +€66,082
up €66,082 (+101.5%), from €65,090 to €131,172
- Taxes +€17,152
up €17,152 (+103.3%), from €16,602 to €33,754
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 | €840,412 | €930,250 | +€89,838 | +10.7% |
| Fixed assets | 21/28 | €9,713 | €6,383 | -€3,330 | -34.3% |
| Intangible fixed assets | 21 | €9,713 | €6,383 | -€3,330 | -34.3% |
| Current assets | 29/58 | €830,699 | €923,867 | +€93,168 | +11.2% |
| Stocks and contracts in progress | 3 | €472,467 | €795,972 | +€323,505 | +68.5% |
| Stocks | 30/36 | €472,467 | €795,972 | +€323,505 | +68.5% |
| Amounts receivable within one year | 40/41 | €2,268 | €14,581 | +€12,312 | +542.8% |
| Trade receivables | 40 | €2,268 | €14,581 | +€12,312 | +542.8% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €355,963 | €113,314 | -€242,649 | -68.2% |
| Total equity and liabilities | 10/49 | €840,412 | €930,250 | +€89,838 | +10.7% |
| Equity | 10/15 | €380,474 | €518,638 | +€138,164 | +36.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €365,474 | €503,638 | +€138,164 | +37.8% |
| Distributable reserves | 133 | €365,474 | €503,638 | +€138,164 | +37.8% |
| Amounts payable | 17/49 | €459,938 | €411,612 | -€48,326 | -10.5% |
| Amounts payable within one year | 42/48 | €459,938 | €411,612 | -€48,326 | -10.5% |
| Trade debts | 44 | €238,875 | €115,434 | -€123,441 | -51.7% |
| Suppliers | 440/4 | €238,875 | €115,434 | -€123,441 | -51.7% |
| Advances received on contracts in progress | 46 | €577 | €577 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €118,419 | €66,194 | -€52,225 | -44.1% |
| Taxes | 450/3 | €118,419 | €66,194 | -€52,225 | -44.1% |
| Other amounts payable | 47/48 | €102,067 | €229,406 | +€127,339 | +124.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,330 | €3,330 | = | 0.0% |
| Other operating charges | 640/8 | €613 | €1,227 | +€614 | +100.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €65,090 | €131,172 | +€66,082 | +101.5% |
| Operating profit (loss) | 9901 | €61,147 | €126,615 | +€65,468 | +107.1% |
| Financial income | 75/76B | €0 | €174 | +€174 | |
| Recurring financial income | 75 | €0 | €174 | +€174 | |
| Financial charges | 65/66B | €223 | €311 | +€88 | +39.7% |
| Recurring financial charges | 65 | €223 | €311 | +€88 | +39.7% |
| Profit (loss) for the period before taxes | 9903 | €60,925 | €126,479 | +€65,554 | +107.6% |
| Income taxes | 67/77 | €16,602 | €33,754 | +€17,152 | +103.3% |
| Profit (loss) for the period | 9904 | €44,323 | €92,725 | +€48,402 | +109.2% |
| Profit (loss) for the period to be appropriated | 9905 | €44,323 | €92,725 | +€48,402 | +109.2% |
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 5 October 2026 via checked.be.