CS: 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.
CS
Largest movements
- Receivables after one year -€193,742
down €193,742 (-100.0%), from €193,742 to €0
- Cash +€88,804
up €88,804 (+173.9%), from €51,059 to €139,863
mainly Receivables after one year (+€193,742) and Net result for the year (+€43,574)
- Receivables within one year +€29,509
up €29,509 (+157.8%), from €18,696 to €48,205
of which Other amounts receivable: +€26,315
- Tangible fixed assets -€21,904
down €21,904 (-25.6%), from €85,684 to €63,780
of which Furniture and vehicles: -€22,545
- Intangible fixed assets -€15,000
down €15,000 (-25.0%), from €60,000 to €45,000
- Other debts -€72,892
down €72,892 (-69.0%), from €105,594 to €32,702
- Reserves -€61,500
down €61,500 (-17.5%), from €351,360 to €289,860
of which Distributable reserves: -€61,500
- Tax, wage and social debts +€22,526
up €22,526 (+81.2%), from €27,748 to €50,275
of which Taxes: +€12,776
- Trade debts +€5,587
up €5,587 (+17.4%), from €32,071 to €37,658
- Gross operating margin +€39,300
up €39,300 (+47.4%), from €82,957 to €122,257
- Taxes +€12,745
up €12,745 (+82.6%), from €15,421 to €28,166
- Financial charges +€10,504
up €10,504 (+266.0%), from €3,949 to €14,453
- Financial income -€2,589
down €2,589 (-37.2%), from €6,963 to €4,374
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 | €552,088 | €445,456 | -€106,632 | -19.3% |
| Fixed assets | 21/28 | €145,684 | €108,780 | -€36,904 | -25.3% |
| Intangible fixed assets | 21 | €60,000 | €45,000 | -€15,000 | -25.0% |
| Tangible fixed assets | 22/27 | €85,684 | €63,780 | -€21,904 | -25.6% |
| Plant, machinery and equipment | 23 | €1,429 | €2,070 | +€641 | +44.9% |
| Furniture and vehicles | 24 | €84,255 | €61,710 | -€22,545 | -26.8% |
| Current assets | 29/58 | €406,405 | €336,677 | -€69,728 | -17.2% |
| Amounts receivable after more than one year | 29 | €193,742 | €0 | -€193,742 | -100.0% |
| Other amounts receivable | 291 | €193,742 | €0 | -€193,742 | -100.0% |
| Amounts receivable within one year | 40/41 | €18,696 | €48,205 | +€29,509 | +157.8% |
| Trade receivables | 40 | €3,052 | €6,246 | +€3,194 | +104.6% |
| Other amounts receivable | 41 | €15,644 | €41,959 | +€26,315 | +168.2% |
| Current investments | 50/53 | €137,894 | €140,258 | +€2,364 | +1.7% |
| Cash at bank and in hand | 54/58 | €51,059 | €139,863 | +€88,804 | +173.9% |
| Deferred charges and accrued income | 490/1 | €5,013 | €8,350 | +€3,337 | +66.6% |
| Total equity and liabilities | 10/49 | €552,088 | €445,456 | -€106,632 | -19.3% |
| Equity | 10/15 | €384,642 | €323,217 | -€61,426 | -16.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €351,360 | €289,860 | -€61,500 | -17.5% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €348,860 | €287,360 | -€61,500 | -17.6% |
| Profit (loss) carried forward | 14 | €8,282 | €8,357 | +€74 | +0.9% |
| Amounts payable | 17/49 | €167,446 | €122,240 | -€45,207 | -27.0% |
| Amounts payable within one year | 42/48 | €165,413 | €120,634 | -€44,779 | -27.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €32,071 | €37,658 | +€5,587 | +17.4% |
| Suppliers | 440/4 | €32,071 | €37,658 | +€5,587 | +17.4% |
| Taxes, remuneration and social security | 45 | €27,748 | €50,275 | +€22,526 | +81.2% |
| Taxes | 450/3 | €27,748 | €40,525 | +€12,776 | +46.0% |
| Remuneration and social security | 454/9 | - | €9,750 | +€9,750 | |
| Other amounts payable | 47/48 | €105,594 | €32,702 | -€72,892 | -69.0% |
| Accrued charges and deferred income | 492/3 | €2,033 | €1,605 | -€428 | -21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,610 | €38,522 | +€912 | +2.4% |
| Other operating charges | 640/8 | €1,274 | €1,915 | +€641 | +50.3% |
| Gross operating margin | 9900 | €82,957 | €122,257 | +€39,300 | +47.4% |
| Operating profit (loss) | 9901 | €44,073 | €81,820 | +€37,747 | +85.6% |
| Financial income | 75/76B | €6,963 | €4,374 | -€2,589 | -37.2% |
| Recurring financial income | 75 | €6,963 | €4,374 | -€2,589 | -37.2% |
| Financial charges | 65/66B | €3,949 | €14,453 | +€10,504 | +266.0% |
| Recurring financial charges | 65 | €3,949 | €14,453 | +€10,504 | +266.0% |
| Profit (loss) for the period before taxes | 9903 | €47,087 | €71,741 | +€24,653 | +52.4% |
| Income taxes | 67/77 | €15,421 | €28,166 | +€12,745 | +82.6% |
| Profit (loss) for the period | 9904 | €31,666 | €43,574 | +€11,908 | +37.6% |
| Profit (loss) for the period to be appropriated | 9905 | €31,666 | €43,574 | +€11,908 | +37.6% |
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 7 October 2026 via checked.be.