CPAD: 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.
CPAD
Largest movements
- Cash -€15,355
down €15,355 (-81.3%), from €18,886 to €3,531
mainly Debts after one year (-€54,743) and Tax, wage and social debts (-€14,837)
- Tangible fixed assets -€14,485
down €14,485 (-3.0%), from €488,577 to €474,092
of which Land and buildings: -€12,381
- Debts after one year -€54,743
down €54,743 (-51.6%), from €106,153 to €51,410
- Profit (loss) carried forward +€19,851
up €19,851 (+10.0%), from €198,276 to €218,127
- Tax, wage and social debts -€14,837
down €14,837 (-99.5%), from €14,912 to €75
- Other debts +€9,084
up €9,084 (+90,836%), from €10 to €9,094
- Trade debts +€6,901
up €6,901 (+78.6%), from €8,780 to €15,681
- Gross operating margin -€40,284
down €40,284 (-43.7%), from €92,099 to €51,814
- Taxes -€12,969
down €12,969 (-66.2%), from €19,586 to €6,617
- Financial charges -€1,140
down €1,140 (-19.0%), from €5,995 to €4,855
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.
Derived cash bridge
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 | €511,504 | €482,512 | -€28,992 | -5.7% |
| Fixed assets | 21/28 | €488,577 | €474,092 | -€14,485 | -3.0% |
| Tangible fixed assets | 22/27 | €488,577 | €474,092 | -€14,485 | -3.0% |
| Land and buildings | 22 | €481,574 | €469,193 | -€12,381 | -2.6% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €7,003 | €4,899 | -€2,105 | -30.1% |
| Current assets | 29/58 | €22,927 | €8,420 | -€14,506 | -63.3% |
| Amounts receivable within one year | 40/41 | €3,934 | €4,374 | +€439 | +11.2% |
| Trade receivables | 40 | €1,556 | - | -€1,556 | |
| Other amounts receivable | 41 | €2,378 | €4,374 | +€1,996 | +83.9% |
| Cash at bank and in hand | 54/58 | €18,886 | €3,531 | -€15,355 | -81.3% |
| Deferred charges and accrued income | 490/1 | €106 | €516 | +€410 | +386% |
| Total equity and liabilities | 10/49 | €511,504 | €482,512 | -€28,992 | -5.7% |
| Equity | 10/15 | €328,276 | €348,127 | +€19,851 | +6.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €30,000 | €30,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €198,276 | €218,127 | +€19,851 | +10.0% |
| Amounts payable | 17/49 | €183,227 | €134,385 | -€48,843 | -26.7% |
| Amounts payable after more than one year | 17 | €106,153 | €51,410 | -€54,743 | -51.6% |
| Financial debts | 170/4 | €106,153 | €51,410 | -€54,743 | -51.6% |
| Amounts payable within one year | 42/48 | €77,075 | €82,975 | +€5,900 | +7.7% |
| Current portion of amounts payable after more than one year | 42 | €53,372 | €58,124 | +€4,752 | +8.9% |
| Trade debts | 44 | €8,780 | €15,681 | +€6,901 | +78.6% |
| Suppliers | 440/4 | €8,780 | €15,681 | +€6,901 | +78.6% |
| Taxes, remuneration and social security | 45 | €14,912 | €75 | -€14,837 | -99.5% |
| Taxes | 450/3 | €14,912 | €75 | -€14,837 | -99.5% |
| Other amounts payable | 47/48 | €10 | €9,094 | +€9,084 | +90,836% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,764 | €14,485 | -€279 | -1.9% |
| Other operating charges | 640/8 | €6,003 | €6,007 | +€3 | +0.1% |
| Gross operating margin | 9900 | €92,099 | €51,814 | -€40,284 | -43.7% |
| Operating profit (loss) | 9901 | €71,331 | €31,322 | -€40,008 | -56.1% |
| Financial income | 75/76B | €69 | €1 | -€69 | -99.2% |
| Recurring financial income | 75 | €69 | €1 | -€69 | -99.2% |
| Financial charges | 65/66B | €5,995 | €4,855 | -€1,140 | -19.0% |
| Recurring financial charges | 65 | €5,995 | €4,855 | -€1,140 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | €65,405 | €26,468 | -€38,937 | -59.5% |
| Income taxes | 67/77 | €19,586 | €6,617 | -€12,969 | -66.2% |
| Profit (loss) for the period | 9904 | €45,819 | €19,851 | -€25,968 | -56.7% |
| Profit (loss) for the period to be appropriated | 9905 | €45,819 | €19,851 | -€25,968 | -56.7% |
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 15 October 2026 via checked.be.