CPB: 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.
CPB
Largest movements
- Stocks and contracts +€342,933
up €342,933 (+53.2%), from €644,453 to €987,386
- Tangible fixed assets -€190,288
down €190,288 (-21.2%), from €895,709 to €705,421
of which Plant, machinery and equipment: -€153,080
- Cash +€76,243
up €76,243 (+38.8%), from €196,331 to €272,574
mainly Net result for the year (+€300,480) and Depreciation (+€218,129)
- Receivables within one year +€52,935
up €52,935 (+11.9%), from €445,347 to €498,282
of which Trade receivables: +€92,748
- Deferred charges and accrued income +€28,040
up €28,040 (+18576.7%), from €151 to €28,191
- Profit (loss) carried forward +€303,939
up €303,939 (+24.3%), from €1.2m to €1.6m
- Trade debts +€112,352
up €112,352 (+23.8%), from €471,708 to €584,060
- Other debts -€50,000
no longer reported in 2025 (was €50,000)
- Debts after one year -€41,588
down €41,588 (-49.0%), from €84,894 to €43,306
- Gross operating margin +€137,283
up €137,283 (+13.9%), from €984,588 to €1.1m
- Staff costs +€50,270
up €50,270 (+11.2%), from €448,565 to €498,835
- Taxes +€29,778
up €29,778 (+40.2%), from €74,054 to €103,832
- Depreciation +€28,367
up €28,367 (+14.9%), from €189,761 to €218,129
- Other operating charges -€18,542
down €18,542 (-58.3%), from €31,781 to €13,239
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 | €2,181,991 | €2,491,854 | +€309,863 | +14.2% |
| Fixed assets | 21/28 | €895,709 | €705,421 | -€190,288 | -21.2% |
| Tangible fixed assets | 22/27 | €895,709 | €705,421 | -€190,288 | -21.2% |
| Land and buildings | 22 | €175,297 | €136,014 | -€39,283 | -22.4% |
| Plant, machinery and equipment | 23 | €650,603 | €497,524 | -€153,080 | -23.5% |
| Furniture and vehicles | 24 | €69,809 | €71,884 | +€2,075 | +3.0% |
| Current assets | 29/58 | €1,286,282 | €1,786,433 | +€500,151 | +38.9% |
| Stocks and contracts in progress | 3 | €644,453 | €987,386 | +€342,933 | +53.2% |
| Stocks | 30/36 | €644,453 | €987,386 | +€342,933 | +53.2% |
| Amounts receivable within one year | 40/41 | €445,347 | €498,282 | +€52,935 | +11.9% |
| Trade receivables | 40 | €393,116 | €485,864 | +€92,748 | +23.6% |
| Other amounts receivable | 41 | €52,231 | €12,418 | -€39,813 | -76.2% |
| Cash at bank and in hand | 54/58 | €196,331 | €272,574 | +€76,243 | +38.8% |
| Deferred charges and accrued income | 490/1 | €151 | €28,191 | +€28,040 | +18576.7% |
| Total equity and liabilities | 10/49 | €2,181,991 | €2,491,854 | +€309,863 | +14.2% |
| Equity | 10/15 | €1,399,767 | €1,694,903 | +€295,135 | +21.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €38,600 | €35,141 | -€3,459 | -9.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €28,600 | €25,141 | -€3,459 | -12.1% |
| Profit (loss) carried forward | 14 | €1,249,684 | €1,553,622 | +€303,939 | +24.3% |
| Investment grants | 15 | €11,483 | €6,139 | -€5,345 | -46.5% |
| Provisions and deferred taxes | 16 | €9,533 | €8,380 | -€1,153 | -12.1% |
| Deferred taxes | 168 | €9,533 | €8,380 | -€1,153 | -12.1% |
| Amounts payable | 17/49 | €772,690 | €788,571 | +€15,881 | +2.1% |
| Amounts payable after more than one year | 17 | €84,894 | €43,306 | -€41,588 | -49.0% |
| Financial debts | 170/4 | €84,894 | €43,306 | -€41,588 | -49.0% |
| Amounts payable within one year | 42/48 | €687,796 | €745,264 | +€57,469 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €46,188 | €41,588 | -€4,600 | -10.0% |
| Trade debts | 44 | €471,708 | €584,060 | +€112,352 | +23.8% |
| Suppliers | 440/4 | €471,708 | €584,060 | +€112,352 | +23.8% |
| Taxes, remuneration and social security | 45 | €119,900 | €119,616 | -€283 | -0.2% |
| Taxes | 450/3 | €71,044 | €64,721 | -€6,323 | -8.9% |
| Remuneration and social security | 454/9 | €48,856 | €54,895 | +€6,039 | +12.4% |
| Other amounts payable | 47/48 | €50,000 | - | -€50,000 | |
| Non-recurring operating income | 76A | €23,851 | - | -€23,851 | |
| Remuneration, social security and pensions | 62 | €448,565 | €498,835 | +€50,270 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €189,761 | €218,129 | +€28,367 | +14.9% |
| Other operating charges | 640/8 | €31,781 | €13,239 | -€18,542 | -58.3% |
| Gross operating margin | 9900 | €984,588 | €1,121,871 | +€137,283 | +13.9% |
| Operating profit (loss) | 9901 | €314,481 | €391,668 | +€77,188 | +24.5% |
| Financial income | 75/76B | €30,843 | €18,390 | -€12,452 | -40.4% |
| Recurring financial income | 75 | €30,843 | €18,390 | -€12,452 | -40.4% |
| Financial charges | 65/66B | €9,155 | €6,900 | -€2,255 | -24.6% |
| Recurring financial charges | 65 | €9,155 | €6,900 | -€2,255 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €336,169 | €403,159 | +€66,990 | +19.9% |
| Transfer from deferred taxes | 780 | €1,153 | €1,153 | = | 0.0% |
| Income taxes | 67/77 | €74,054 | €103,832 | +€29,778 | +40.2% |
| Profit (loss) for the period | 9904 | €263,267 | €300,480 | +€37,212 | +14.1% |
| Transfer from tax-exempt reserves | 789 | €3,459 | €3,459 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €266,726 | €303,939 | +€37,212 | +14.0% |
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 28 September 2026 via checked.be.