CPHAGEN: 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.
CPHAGEN
Largest movements
- Stocks and contracts -€39,077
no longer reported in 2025 (was €39,077)
- Tangible fixed assets -€22,198
down €22,198 (-97.4%), from €22,779 to €581
of which Other tangible fixed assets: -€21,854
- Cash -€10,432
down €10,432 (-64.5%), from €16,177 to €5,744
mainly Net result for the year (-€38,882) and Other debts (-€22,074)
- Financial fixed assets -€6,746
no longer reported in 2025 (was €6,746)
- Receivables within one year -€3,862
down €3,862 (-69.9%), from €5,523 to €1,661
- Profit (loss) carried forward -€38,882
down €38,882 (-106.3%), from -€36,562 to -€75,444
- Other debts -€22,074
down €22,074 (-29.8%), from €73,981 to €51,907
- Tax, wage and social debts -€19,281
down €19,281 (-83.0%), from €23,239 to €3,958
of which Taxes: -€16,046
- Trade debts -€1,528
down €1,528 (-36.8%), from €4,146 to €2,619
- Gross operating margin -€80,316
down €80,316 (-90.9%), from €88,345 to €8,029
- Staff costs -€52,595
down €52,595 (-85.7%), from €61,373 to €8,777
- Other operating charges +€33,362
up €33,362 (+1674.2%), from €1,993 to €35,355
- Depreciation -€6,088
down €6,088 (-99.6%), from €6,114 to €27
- Financial charges -€1,793
down €1,793 (-41.5%), from €4,322 to €2,529
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 | €90,418 | €8,653 | -€81,765 | -90.4% |
| Fixed assets | 21/28 | €29,526 | €581 | -€28,944 | -98.0% |
| Tangible fixed assets | 22/27 | €22,779 | €581 | -€22,198 | -97.4% |
| Furniture and vehicles | 24 | €926 | €581 | -€344 | -37.2% |
| Other tangible fixed assets | 26 | €21,854 | - | -€21,854 | |
| Financial fixed assets | 28 | €6,746 | - | -€6,746 | |
| Current assets | 29/58 | €60,892 | €8,071 | -€52,821 | -86.7% |
| Stocks and contracts in progress | 3 | €39,077 | - | -€39,077 | |
| Stocks | 30/36 | €39,077 | - | -€39,077 | |
| Amounts receivable within one year | 40/41 | €5,523 | €1,661 | -€3,862 | -69.9% |
| Trade receivables | 40 | €5,523 | €1,661 | -€3,862 | -69.9% |
| Cash at bank and in hand | 54/58 | €16,177 | €5,744 | -€10,432 | -64.5% |
| Deferred charges and accrued income | 490/1 | €116 | €666 | +€550 | +474.2% |
| Total equity and liabilities | 10/49 | €90,418 | €8,653 | -€81,765 | -90.4% |
| Equity | 10/15 | -€10,949 | -€49,831 | -€38,882 | -355.1% |
| Contributions | 10/11 | €25,613 | €25,613 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,562 | -€75,444 | -€38,882 | -106.3% |
| Amounts payable | 17/49 | €101,367 | €58,484 | -€42,883 | -42.3% |
| Amounts payable within one year | 42/48 | €101,367 | €58,484 | -€42,883 | -42.3% |
| Trade debts | 44 | €4,146 | €2,619 | -€1,528 | -36.8% |
| Suppliers | 440/4 | €4,146 | €2,619 | -€1,528 | -36.8% |
| Taxes, remuneration and social security | 45 | €23,239 | €3,958 | -€19,281 | -83.0% |
| Taxes | 450/3 | €20,004 | €3,958 | -€16,046 | -80.2% |
| Remuneration and social security | 454/9 | €3,235 | - | -€3,235 | |
| Other amounts payable | 47/48 | €73,981 | €51,907 | -€22,074 | -29.8% |
| Remuneration, social security and pensions | 62 | €61,373 | €8,777 | -€52,595 | -85.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,114 | €27 | -€6,088 | -99.6% |
| Other operating charges | 640/8 | €1,993 | €35,355 | +€33,362 | +1674.2% |
| Gross operating margin | 9900 | €88,345 | €8,029 | -€80,316 | -90.9% |
| Operating profit (loss) | 9901 | €18,865 | -€36,130 | -€54,995 | |
| Financial income | 75/76B | €271 | €0 | -€270 | -99.8% |
| Recurring financial income | 75 | €271 | €0 | -€270 | -99.8% |
| Financial charges | 65/66B | €4,322 | €2,529 | -€1,793 | -41.5% |
| Recurring financial charges | 65 | €4,322 | €2,529 | -€1,793 | -41.5% |
| Profit (loss) for the period before taxes | 9903 | €14,814 | -€38,658 | -€53,472 | |
| Income taxes | 67/77 | €523 | €224 | -€298 | -57.1% |
| Profit (loss) for the period | 9904 | €14,291 | -€38,882 | -€53,173 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,291 | -€38,882 | -€53,173 |
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 12 October 2026 via checked.be.