CN-T: 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.
CN-T
Largest movements
- Receivables within one year +€116,060
up €116,060 (+612%), from €18,964 to €135,023
of which Other amounts receivable: +€94,576
- Cash -€79,792
down €79,792 (-57.6%), from €138,443 to €58,651
mainly Receivables within one year (-€116,060) and Contributions, distributions and other (-€106,477)
- Tangible fixed assets -€13,827
down €13,827 (-27.5%), from €50,255 to €36,427
of which Land and buildings: -€9,430
- Stocks and contracts -€13,000
down €13,000 (-56.5%), from €23,000 to €10,000
- Current investments +€3,750
up €3,750 (+100%), from €3,750 to €7,500
- Other debts +€99,061
up €99,061 (+996%), from €9,944 to €109,005
- Reserves -€80,000
down €80,000 (-44.4%), from €180,146 to €100,146
- Debts after one year -€6,633
down €6,633 (-56.8%), from €11,669 to €5,036
- Gross operating margin +€12,889
up €12,889 (+30.3%), from €42,556 to €55,446
- Taxes +€2,674
up €2,674 (+48.2%), from €5,554 to €8,229
- Financial charges +€1,734
up €1,734 (+92.1%), from €1,884 to €3,618
- Financial income +€1,501
new in 2025: €1,501
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €235,278 | €248,423 | +€13,145 | +5.6% |
| Fixed assets | 21/28 | €50,255 | €36,427 | -€13,827 | -27.5% |
| Tangible fixed assets | 22/27 | €50,255 | €36,427 | -€13,827 | -27.5% |
| Land and buildings | 22 | €20,215 | €10,785 | -€9,430 | -46.6% |
| Furniture and vehicles | 24 | €30,039 | €25,642 | -€4,397 | -14.6% |
| Current assets | 29/58 | €185,024 | €211,996 | +€26,973 | +14.6% |
| Stocks and contracts in progress | 3 | €23,000 | €10,000 | -€13,000 | -56.5% |
| Stocks | 30/36 | €23,000 | €10,000 | -€13,000 | -56.5% |
| Amounts receivable within one year | 40/41 | €18,964 | €135,023 | +€116,060 | +612% |
| Trade receivables | 40 | €11,768 | €33,252 | +€21,484 | +183% |
| Other amounts receivable | 41 | €7,196 | €101,771 | +€94,576 | +1,314% |
| Current investments | 50/53 | €3,750 | €7,500 | +€3,750 | +100% |
| Cash at bank and in hand | 54/58 | €138,443 | €58,651 | -€79,792 | -57.6% |
| Deferred charges and accrued income | 490/1 | €867 | €822 | -€45 | -5.1% |
| Total equity and liabilities | 10/49 | €235,278 | €248,423 | +€13,145 | +5.6% |
| Equity | 10/15 | €185,146 | €105,146 | -€80,000 | -43.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €180,146 | €100,146 | -€80,000 | -44.4% |
| Distributable reserves | 133 | €180,146 | €100,146 | -€80,000 | -44.4% |
| Amounts payable | 17/49 | €50,132 | €143,278 | +€93,145 | +186% |
| Amounts payable after more than one year | 17 | €11,669 | €5,036 | -€6,633 | -56.8% |
| Financial debts | 170/4 | €11,669 | €5,036 | -€6,633 | -56.8% |
| Amounts payable within one year | 42/48 | €36,989 | €135,020 | +€98,032 | +265% |
| Current portion of amounts payable after more than one year | 42 | €6,540 | €6,633 | +€93 | +1.4% |
| Financial debts | 43 | €10,000 | €10,000 | = | 0.0% |
| Other loans | 439 | €10,000 | €10,000 | = | 0.0% |
| Trade debts | 44 | €2,991 | €2,250 | -€741 | -24.8% |
| Suppliers | 440/4 | €2,991 | €2,250 | -€741 | -24.8% |
| Taxes, remuneration and social security | 45 | €7,514 | €7,133 | -€382 | -5.1% |
| Taxes | 450/3 | €4,451 | €4,089 | -€362 | -8.1% |
| Remuneration and social security | 454/9 | €3,063 | €3,043 | -€20 | -0.7% |
| Other amounts payable | 47/48 | €9,944 | €109,005 | +€99,061 | +996% |
| Accrued charges and deferred income | 492/3 | €1,475 | €3,221 | +€1,746 | +118% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,674 | €17,674 | = | 0.0% |
| Other operating charges | 640/8 | €738 | €948 | +€210 | +28.4% |
| Gross operating margin | 9900 | €42,556 | €55,446 | +€12,889 | +30.3% |
| Operating profit (loss) | 9901 | €24,144 | €36,824 | +€12,680 | +52.5% |
| Financial income | 75/76B | - | €1,501 | +€1,501 | |
| Recurring financial income | 75 | - | €1,501 | +€1,501 | |
| Financial charges | 65/66B | €1,884 | €3,618 | +€1,734 | +92.1% |
| Recurring financial charges | 65 | €1,884 | €3,618 | +€1,734 | +92.1% |
| Profit (loss) for the period before taxes | 9903 | €22,260 | €34,706 | +€12,446 | +55.9% |
| Income taxes | 67/77 | €5,554 | €8,229 | +€2,674 | +48.2% |
| Profit (loss) for the period | 9904 | €16,706 | €26,477 | +€9,771 | +58.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,706 | €26,477 | +€9,771 | +58.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.