CPA: what changed
CPA
Largest movements
- Tangible fixed assets -€11,386
down €11,386 (-26.3%), from €43,361 to €31,975
- Receivables within one year -€8,787
down €8,787 (-11.6%), from €75,443 to €66,656
of which Trade receivables: -€5,082
- Cash -€7,138
down €7,138 (-78.7%), from €9,070 to €1,933
mainly Debts after one year (-€12,372) and Current portion of long-term debt (-€6,851)
- Intangible fixed assets -€1,748
down €1,748 (-25.0%), from €6,980 to €5,232
- Debts after one year -€12,372
down €12,372 (-30.6%), from €40,417 to €28,045
- Current portion of long-term debt -€6,851
down €6,851 (-35.6%), from €19,223 to €12,372
- Reserves -€4,753
down €4,753 (-10.7%), from €44,384 to €39,631
- Tax, wage and social debts -€4,239
down €4,239 (-24.4%), from €17,342 to €13,102
of which Taxes: -€5,239
- Write-downs +€10,000
new in 2025: €10,000
- Taxes -€1,970
down €1,970 (-55.4%), from €3,555 to €1,585
- Gross operating margin -€1,053
down €1,053 (-4.3%), from €24,337 to €23,284
- Financial charges -€652
down €652 (-22.1%), from €2,953 to €2,301
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 | €149,854 | €120,795 | -€29,059 | -19.4% |
| Fixed assets | 21/28 | €65,340 | €52,206 | -€13,134 | -20.1% |
| Intangible fixed assets | 21 | €6,980 | €5,232 | -€1,748 | -25.0% |
| Tangible fixed assets | 22/27 | €43,361 | €31,975 | -€11,386 | -26.3% |
| Furniture and vehicles | 24 | €43,361 | €31,975 | -€11,386 | -26.3% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €84,513 | €68,588 | -€15,925 | -18.8% |
| Amounts receivable within one year | 40/41 | €75,443 | €66,656 | -€8,787 | -11.6% |
| Trade receivables | 40 | €22,917 | €17,835 | -€5,082 | -22.2% |
| Other amounts receivable | 41 | €52,526 | €48,821 | -€3,705 | -7.1% |
| Cash at bank and in hand | 54/58 | €9,070 | €1,933 | -€7,138 | -78.7% |
| Total equity and liabilities | 10/49 | €149,854 | €120,795 | -€29,059 | -19.4% |
| Equity | 10/15 | €50,584 | €45,831 | -€4,753 | -9.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €44,384 | €39,631 | -€4,753 | -10.7% |
| Distributable reserves | 133 | €44,384 | €39,631 | -€4,753 | -10.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €99,270 | €74,964 | -€24,306 | -24.5% |
| Amounts payable after more than one year | 17 | €40,417 | €28,045 | -€12,372 | -30.6% |
| Financial debts | 170/4 | €40,417 | €28,045 | -€12,372 | -30.6% |
| Amounts payable within one year | 42/48 | €58,852 | €46,918 | -€11,934 | -20.3% |
| Current portion of amounts payable after more than one year | 42 | €19,223 | €12,372 | -€6,851 | -35.6% |
| Trade debts | 44 | €5,173 | €4,819 | -€354 | -6.8% |
| Suppliers | 440/4 | €5,173 | €4,819 | -€354 | -6.8% |
| Taxes, remuneration and social security | 45 | €17,342 | €13,102 | -€4,239 | -24.4% |
| Taxes | 450/3 | €16,564 | €11,324 | -€5,239 | -31.6% |
| Remuneration and social security | 454/9 | €778 | €1,778 | +€1,000 | +129% |
| Other amounts payable | 47/48 | €17,115 | €16,625 | -€490 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,134 | €13,134 | +€0 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,000 | +€10,000 | |
| Other operating charges | 640/8 | €921 | €1,017 | +€95 | +10.4% |
| Gross operating margin | 9900 | €24,337 | €23,284 | -€1,053 | -4.3% |
| Operating profit (loss) | 9901 | €10,281 | -€867 | -€11,148 | |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €2,953 | €2,301 | -€652 | -22.1% |
| Recurring financial charges | 65 | €2,953 | €2,301 | -€652 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | €7,329 | -€3,168 | -€10,497 | |
| Income taxes | 67/77 | €3,555 | €1,585 | -€1,970 | -55.4% |
| Profit (loss) for the period | 9904 | €3,775 | -€4,753 | -€8,528 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,775 | -€4,753 | -€8,528 |
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 3 November 2026 via checked.be.