CP&T: what changed
CP&T
Largest movements
- Receivables after one year +€100,000
new in 2025: €100,000
- Receivables within one year +€77,951
up €77,951 (+112%), from €69,881 to €147,832
of which Other amounts receivable: +€55,339
- Cash -€66,274
down €66,274 (-56.9%), from €116,399 to €50,124
mainly Receivables after one year (-€100,000) and Receivables within one year (-€77,951)
- Tangible fixed assets -€3,174
down €3,174 (-24.9%), from €12,758 to €9,585
of which Plant, machinery and equipment: -€4,033
- Trade debts +€83,142
up €83,142 (+452%), from €18,389 to €101,531
- Reserves +€46,000
up €46,000 (+34.8%), from €132,000 to €178,000
- Tax, wage and social debts -€21,211
down €21,211 (-46.0%), from €46,133 to €24,923
of which Taxes: -€21,600
- Gross operating margin -€64,029
down €64,029 (-25.8%), from €247,709 to €183,680
- Taxes -€28,500
down €28,500 (-68.4%), from €41,645 to €13,145
- Financial income +€4,332
up €4,332 (+424%), from €1,021 to €5,353
- Depreciation +€3,412
up €3,412 (+87.5%), from €3,897 to €7,309
- Other operating charges -€3,256
down €3,256 (-63.2%), from €5,152 to €1,896
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €200,198 | €308,767 | +€108,569 | +54.2% |
| Fixed assets | 21/28 | €12,758 | €9,585 | -€3,174 | -24.9% |
| Tangible fixed assets | 22/27 | €12,758 | €9,585 | -€3,174 | -24.9% |
| Plant, machinery and equipment | 23 | €11,176 | €7,143 | -€4,033 | -36.1% |
| Furniture and vehicles | 24 | €1,582 | €2,441 | +€859 | +54.3% |
| Current assets | 29/58 | €187,439 | €299,183 | +€111,743 | +59.6% |
| Amounts receivable after more than one year | 29 | - | €100,000 | +€100,000 | |
| Other amounts receivable | 291 | - | €100,000 | +€100,000 | |
| Amounts receivable within one year | 40/41 | €69,881 | €147,832 | +€77,951 | +112% |
| Trade receivables | 40 | €26,431 | €49,043 | +€22,612 | +85.5% |
| Other amounts receivable | 41 | €43,450 | €98,789 | +€55,339 | +127% |
| Cash at bank and in hand | 54/58 | €116,399 | €50,124 | -€66,274 | -56.9% |
| Deferred charges and accrued income | 490/1 | €1,160 | €1,227 | +€67 | +5.8% |
| Total equity and liabilities | 10/49 | €200,198 | €308,767 | +€108,569 | +54.2% |
| Equity | 10/15 | €135,675 | €182,314 | +€46,638 | +34.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €132,000 | €178,000 | +€46,000 | +34.8% |
| Distributable reserves | 133 | €132,000 | €178,000 | +€46,000 | +34.8% |
| Profit (loss) carried forward | 14 | €2,675 | €3,314 | +€638 | +23.9% |
| Amounts payable | 17/49 | €64,522 | €126,454 | +€61,931 | +96.0% |
| Amounts payable within one year | 42/48 | €64,522 | €126,454 | +€61,931 | +96.0% |
| Trade debts | 44 | €18,389 | €101,531 | +€83,142 | +452% |
| Suppliers | 440/4 | €18,389 | €101,531 | +€83,142 | +452% |
| Taxes, remuneration and social security | 45 | €46,133 | €24,923 | -€21,211 | -46.0% |
| Taxes | 450/3 | €40,700 | €19,100 | -€21,600 | -53.1% |
| Remuneration and social security | 454/9 | €5,433 | €5,823 | +€389 | +7.2% |
| Remuneration, social security and pensions | 62 | €115,133 | €116,895 | +€1,762 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,897 | €7,309 | +€3,412 | +87.5% |
| Other operating charges | 640/8 | €5,152 | €1,896 | -€3,256 | -63.2% |
| Gross operating margin | 9900 | €247,709 | €183,680 | -€64,029 | -25.8% |
| Operating profit (loss) | 9901 | €123,526 | €57,580 | -€65,946 | -53.4% |
| Financial income | 75/76B | €1,021 | €5,353 | +€4,332 | +424% |
| Recurring financial income | 75 | €1,021 | €5,353 | +€4,332 | +424% |
| Financial charges | 65/66B | €4,475 | €3,150 | -€1,325 | -29.6% |
| Recurring financial charges | 65 | €4,475 | €3,150 | -€1,325 | -29.6% |
| Profit (loss) for the period before taxes | 9903 | €120,072 | €59,783 | -€60,289 | -50.2% |
| Income taxes | 67/77 | €41,645 | €13,145 | -€28,500 | -68.4% |
| Profit (loss) for the period | 9904 | €78,427 | €46,638 | -€31,789 | -40.5% |
| Profit (loss) for the period to be appropriated | 9905 | €78,427 | €46,638 | -€31,789 | -40.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.