CNB: 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.
CNB
Largest movements
- Receivables after one year +€502,157
up €502,157 (+167.4%), from €300,000 to €802,157
- Current investments -€463,914
down €463,914 (-30.9%), from €1.5m to €1.0m
- Cash -€59,492
down €59,492 (-23.5%), from €253,141 to €193,649
mainly Receivables after one year (-€502,157) and Contributions, distributions and other (-€208,206)
- Reserves -€173,967
down €173,967 (-8.8%), from €2.0m to €1.8m
- Other debts +€158,206
up €158,206 (+316.4%), from €50,000 to €208,206
- Financial income -€1.8m
down €1.8m (-96.6%), from €1.9m to €62,832
of which Non-recurring financial income: -€1.4m
- Taxes -€155,176
down €155,176 (-90.2%), from €172,010 to €16,834
- Financial charges +€10,462
up €10,462 (+489.1%), from €2,139 to €12,601
- Gross operating margin -€3,896
down €3,896 (-17.6%), from €22,127 to €18,231
- Depreciation +€1,346
up €1,346 (+9.8%), from €13,756 to €15,102
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 | €2,431,747 | €2,401,146 | -€30,601 | -1.3% |
| Fixed assets | 21/28 | €336,398 | €342,077 | +€5,680 | +1.7% |
| Tangible fixed assets | 22/27 | €336,398 | €342,077 | +€5,680 | +1.7% |
| Land and buildings | 22 | €329,715 | €317,635 | -€12,081 | -3.7% |
| Plant, machinery and equipment | 23 | €2,137 | €1,681 | -€456 | -21.3% |
| Furniture and vehicles | 24 | €4,545 | €22,762 | +€18,217 | +400.8% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €2,095,349 | €2,059,069 | -€36,281 | -1.7% |
| Amounts receivable after more than one year | 29 | €300,000 | €802,157 | +€502,157 | +167.4% |
| Other amounts receivable | 291 | €300,000 | €802,157 | +€502,157 | +167.4% |
| Amounts receivable within one year | 40/41 | €41,243 | €27,178 | -€14,065 | -34.1% |
| Trade receivables | 40 | - | €27,178 | +€27,178 | |
| Other amounts receivable | 41 | €41,243 | €0 | -€41,243 | -100.0% |
| Current investments | 50/53 | €1,500,000 | €1,036,086 | -€463,914 | -30.9% |
| Cash at bank and in hand | 54/58 | €253,141 | €193,649 | -€59,492 | -23.5% |
| Deferred charges and accrued income | 490/1 | €966 | €0 | -€966 | -100.0% |
| Total equity and liabilities | 10/49 | €2,431,747 | €2,401,146 | -€30,601 | -1.3% |
| Equity | 10/15 | €2,100,657 | €1,926,691 | -€173,967 | -8.3% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €1,983,205 | €1,809,239 | -€173,967 | -8.8% |
| Distributable reserves | 133 | €1,983,205 | €1,809,239 | -€173,967 | -8.8% |
| Profit (loss) carried forward | 14 | €98,702 | €98,702 | = | 0.0% |
| Amounts payable | 17/49 | €331,090 | €474,455 | +€143,366 | +43.3% |
| Amounts payable after more than one year | 17 | €72,756 | €56,706 | -€16,050 | -22.1% |
| Financial debts | 170/4 | €72,756 | €56,706 | -€16,050 | -22.1% |
| Amounts payable within one year | 42/48 | €258,334 | €417,749 | +€159,415 | +61.7% |
| Current portion of amounts payable after more than one year | 42 | €27,260 | €16,050 | -€11,210 | -41.1% |
| Trade debts | 44 | €7,157 | €7,519 | +€362 | +5.1% |
| Suppliers | 440/4 | €7,157 | €7,519 | +€362 | +5.1% |
| Taxes, remuneration and social security | 45 | €173,917 | €185,975 | +€12,057 | +6.9% |
| Taxes | 450/3 | €173,917 | €185,975 | +€12,057 | +6.9% |
| Other amounts payable | 47/48 | €50,000 | €208,206 | +€158,206 | +316.4% |
| Non-recurring operating income | 76A | €8,500 | €0 | -€8,500 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,756 | €15,102 | +€1,346 | +9.8% |
| Other operating charges | 640/8 | €1,764 | €2,286 | +€522 | +29.6% |
| Gross operating margin | 9900 | €22,127 | €18,231 | -€3,896 | -17.6% |
| Operating profit (loss) | 9901 | €6,606 | €843 | -€5,764 | -87.2% |
| Financial income | 75/76B | €1,860,973 | €62,832 | -€1.8m | -96.6% |
| Recurring financial income | 75 | €440,345 | €62,832 | -€377,513 | -85.7% |
| Non-recurring financial income | 76B | €1,420,628 | €0 | -€1.4m | -100.0% |
| Financial charges | 65/66B | €2,139 | €12,601 | +€10,462 | +489.1% |
| Recurring financial charges | 65 | €2,139 | €12,601 | +€10,462 | +489.1% |
| Profit (loss) for the period before taxes | 9903 | €1,865,440 | €51,073 | -€1.8m | -97.3% |
| Income taxes | 67/77 | €172,010 | €16,834 | -€155,176 | -90.2% |
| Profit (loss) for the period | 9904 | €1,693,430 | €34,240 | -€1.7m | -98.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,693,430 | €34,240 | -€1.7m | -98.0% |
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 9 October 2026 via checked.be.