CONAC: 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.
CONAC
Largest movements
- Receivables within one year -€472,734
down €472,734 (-20.0%), from €2.4m to €1.9m
- Current investments +€305,902
up €305,902 (+85.0%), from €360,036 to €665,938
- Cash +€188,895
up €188,895 (+401.2%), from €47,084 to €235,979
mainly Receivables within one year (+€472,734) and Net result for the year (+€270,819)
- Tangible fixed assets -€69,207
down €69,207 (-23.6%), from €292,969 to €223,762
of which Other tangible fixed assets: -€38,650
- Intangible fixed assets -€46,617
down €46,617 (-33.1%), from €140,787 to €94,170
- Provisions -€171,222
down €171,222 (-76.3%), from €224,281 to €53,059
- Tax, wage and social debts +€51,915
up €51,915 (+8.6%), from €603,505 to €655,420
of which Remuneration and social security: +€28,465
- Staff costs +€255,881
up €255,881 (+7.5%), from €3.4m to €3.7m
- Gross operating margin +€195,943
up €195,943 (+4.9%), from €4.0m to €4.2m
- Provisions -€166,052
down €166,052 (-3212.1%), from -€5,170 to -€171,222
- Other operating charges +€62,532
up €62,532 (+68.5%), from €91,247 to €153,779
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 | €3,322,778 | €3,241,598 | -€81,180 | -2.4% |
| Fixed assets | 21/28 | €443,551 | €327,727 | -€115,824 | -26.1% |
| Intangible fixed assets | 21 | €140,787 | €94,170 | -€46,617 | -33.1% |
| Tangible fixed assets | 22/27 | €292,969 | €223,762 | -€69,207 | -23.6% |
| Plant, machinery and equipment | 23 | €31,798 | €1,241 | -€30,557 | -96.1% |
| Other tangible fixed assets | 26 | €261,171 | €222,521 | -€38,650 | -14.8% |
| Financial fixed assets | 28 | €9,795 | €9,795 | +€0 | 0.0% |
| Current assets | 29/58 | €2,879,227 | €2,913,871 | +€34,644 | +1.2% |
| Amounts receivable within one year | 40/41 | €2,359,369 | €1,886,635 | -€472,734 | -20.0% |
| Trade receivables | 40 | €2,359,369 | €1,886,635 | -€472,734 | -20.0% |
| Current investments | 50/53 | €360,036 | €665,938 | +€305,902 | +85.0% |
| Cash at bank and in hand | 54/58 | €47,084 | €235,979 | +€188,895 | +401.2% |
| Deferred charges and accrued income | 490/1 | €112,738 | €125,319 | +€12,581 | +11.2% |
| Total equity and liabilities | 10/49 | €3,322,778 | €3,241,598 | -€81,180 | -2.4% |
| Equity | 10/15 | €1,428,507 | €1,441,178 | +€12,671 | +0.9% |
| Contributions | 10/11 | €716,089 | €716,089 | +€0 | 0.0% |
| Capital | 10 | €716,089 | €716,089 | +€0 | 0.0% |
| Issued capital | 100 | €738,677 | €738,678 | +€1 | 0.0% |
| Uncalled capital | 101 | €22,589 | €22,589 | +€1 | 0.0% |
| Reserves | 13 | €61,197 | €73,868 | +€12,671 | +20.7% |
| Non-distributable reserves | 130/1 | €61,197 | €73,868 | +€12,671 | +20.7% |
| Legal reserve | 130 | €61,197 | €73,868 | +€12,671 | +20.7% |
| Profit (loss) carried forward | 14 | €651,222 | €651,221 | -€1 | 0.0% |
| Provisions and deferred taxes | 16 | €224,281 | €53,059 | -€171,222 | -76.3% |
| Provisions for liabilities and charges | 160/5 | €224,281 | €53,059 | -€171,222 | -76.3% |
| Taxes | 161 | €224,281 | €53,059 | -€171,222 | -76.3% |
| Amounts payable | 17/49 | €1,669,989 | €1,747,361 | +€77,372 | +4.6% |
| Amounts payable within one year | 42/48 | €1,669,989 | €1,747,361 | +€77,372 | +4.6% |
| Trade debts | 44 | €839,377 | €833,792 | -€5,585 | -0.7% |
| Suppliers | 440/4 | €839,377 | €833,792 | -€5,585 | -0.7% |
| Taxes, remuneration and social security | 45 | €603,505 | €655,420 | +€51,915 | +8.6% |
| Taxes | 450/3 | €55,278 | €78,728 | +€23,450 | +42.4% |
| Remuneration and social security | 454/9 | €548,227 | €576,692 | +€28,465 | +5.2% |
| Other amounts payable | 47/48 | €227,108 | €258,149 | +€31,041 | +13.7% |
| Remuneration, social security and pensions | 62 | €3,430,700 | €3,686,581 | +€255,881 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,902 | €115,824 | -€11,078 | -8.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €8,745 | +€8,745 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€5,170 | -€171,222 | -€166,052 | -3212.1% |
| Other operating charges | 640/8 | €91,247 | €153,779 | +€62,532 | +68.5% |
| Gross operating margin | 9900 | €3,977,572 | €4,173,515 | +€195,943 | +4.9% |
| Operating profit (loss) | 9901 | €333,892 | €379,808 | +€45,916 | +13.8% |
| Financial income | 75/76B | €16,497 | €6,437 | -€10,060 | -61.0% |
| Recurring financial income | 75 | €16,497 | €6,437 | -€10,060 | -61.0% |
| Financial charges | 65/66B | €13,155 | €12,603 | -€552 | -4.2% |
| Recurring financial charges | 65 | €13,155 | €10,849 | -€2,306 | -17.5% |
| Non-recurring financial charges | 66B | - | €1,754 | +€1,754 | |
| Profit (loss) for the period before taxes | 9903 | €337,234 | €373,642 | +€36,408 | +10.8% |
| Income taxes | 67/77 | €98,173 | €102,823 | +€4,650 | +4.7% |
| Profit (loss) for the period | 9904 | €239,061 | €270,819 | +€31,758 | +13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €239,061 | €270,819 | +€31,758 | +13.3% |
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 5 October 2026 via checked.be.