CO3: 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.
CO3
Largest movements
- Cash -€37,786
down €37,786 (-30.7%), from €123,139 to €85,353
mainly Investment in fixed assets (net) (-€46,352) and Trade debts (-€18,031)
- Tangible fixed assets +€27,294
up €27,294 (+16.9%), from €161,762 to €189,056
of which Furniture and vehicles: +€39,177
- Receivables within one year -€10,879
down €10,879 (-7.0%), from €154,422 to €143,543
of which Trade receivables: -€9,562
- Trade debts -€18,031
down €18,031 (-11.0%), from €164,382 to €146,351
- Tax, wage and social debts -€13,031
down €13,031 (-38.2%), from €34,074 to €21,043
- Profit (loss) carried forward +€8,578
up €8,578 (+14.7%), from -€58,407 to -€49,829
- Other debts +€7,212
up €7,212 (+3.3%), from €218,076 to €225,289
- Gross operating margin +€26,903
up €26,903 (+243.4%), from €11,052 to €37,955
- Depreciation +€18,557
up €18,557 (+3711.5%), from €500 to €19,057
- Financial income +€775
up €775 (+250.1%), from €310 to €1,085
of which Financial income: +€426
- Taxes +€743
up €743 (+799.5%), from €93 to €836
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 | €532,077 | €513,299 | -€18,777 | -3.5% |
| Fixed assets | 21/28 | €162,311 | €189,606 | +€27,294 | +16.8% |
| Tangible fixed assets | 22/27 | €161,762 | €189,056 | +€27,294 | +16.9% |
| Land and buildings | 22 | €161,131 | €149,879 | -€11,253 | -7.0% |
| Furniture and vehicles | 24 | €0 | €39,177 | +€39,177 | |
| Other tangible fixed assets | 26 | €630 | €0 | -€630 | -100.0% |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €369,765 | €323,694 | -€46,072 | -12.5% |
| Amounts receivable within one year | 40/41 | €154,422 | €143,543 | -€10,879 | -7.0% |
| Trade receivables | 40 | €153,083 | €143,521 | -€9,562 | -6.2% |
| Other amounts receivable | 41 | €1,339 | €22 | -€1,317 | -98.3% |
| Current investments | 50/53 | €87,911 | €87,911 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €123,139 | €85,353 | -€37,786 | -30.7% |
| Deferred charges and accrued income | 490/1 | €4,293 | €6,886 | +€2,593 | +60.4% |
| Total equity and liabilities | 10/49 | €532,077 | €513,299 | -€18,777 | -3.5% |
| Equity | 10/15 | €112,039 | €120,617 | +€8,578 | +7.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €151,845 | €151,845 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €146,845 | €146,845 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€58,407 | -€49,829 | +€8,578 | +14.7% |
| Amounts payable | 17/49 | €420,038 | €392,683 | -€27,355 | -6.5% |
| Amounts payable within one year | 42/48 | €419,538 | €392,683 | -€26,855 | -6.4% |
| Trade debts | 44 | €164,382 | €146,351 | -€18,031 | -11.0% |
| Suppliers | 440/4 | €164,382 | €146,351 | -€18,031 | -11.0% |
| Advances received on contracts in progress | 46 | €3,006 | - | -€3,006 | |
| Taxes, remuneration and social security | 45 | €34,074 | €21,043 | -€13,031 | -38.2% |
| Taxes | 450/3 | €34,074 | €21,043 | -€13,031 | -38.2% |
| Other amounts payable | 47/48 | €218,076 | €225,289 | +€7,212 | +3.3% |
| Accrued charges and deferred income | 492/3 | €500 | - | -€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €500 | €19,057 | +€18,557 | +3711.5% |
| Other operating charges | 640/8 | €4,506 | €4,286 | -€220 | -4.9% |
| Gross operating margin | 9900 | €11,052 | €37,955 | +€26,903 | +243.4% |
| Operating profit (loss) | 9901 | €6,046 | €14,612 | +€8,566 | +141.7% |
| Financial income | 75/76B | €310 | €1,085 | +€775 | +250.1% |
| Recurring financial income | 75 | €310 | €736 | +€426 | +137.5% |
| Non-recurring financial income | 76B | - | €349 | +€349 | |
| Financial charges | 65/66B | €144 | €341 | +€197 | +137.6% |
| Recurring financial charges | 65 | €144 | €341 | +€197 | +137.6% |
| Profit (loss) for the period before taxes | 9903 | €6,213 | €15,356 | +€9,143 | +147.2% |
| Income taxes | 67/77 | €93 | €836 | +€743 | +799.5% |
| Profit (loss) for the period | 9904 | €6,120 | €14,520 | +€8,400 | +137.3% |
| Profit (loss) for the period to be appropriated | 9905 | €6,120 | €14,520 | +€8,400 | +137.3% |
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 3 October 2026 via checked.be.