CS FINANCE: 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.
CS FINANCE
Largest movements
- Receivables within one year +€59,930
up €59,930 (+61.4%), from €97,597 to €157,527
- Tangible fixed assets -€53,972
down €53,972 (-39.7%), from €136,027 to €82,055
of which Furniture and vehicles: -€44,688
- Cash +€29,948
up €29,948 (+154%), from €19,416 to €49,364
mainly Net result for the year (+€58,586) and Investment in fixed assets (net) (+€39,433)
- Reserves +€52,000
up €52,000 (+37.1%), from €140,000 to €192,000
- Debts after one year -€16,986
down €16,986 (-20.0%), from €84,891 to €67,905
- Tax, wage and social debts -€8,256
down €8,256 (-14.2%), from €58,058 to €49,802
of which Remuneration and social security: -€7,696
- Profit (loss) carried forward +€6,595
up €6,595 (+61.7%), from €10,688 to €17,284
- Gross operating margin -€35,089
down €35,089 (-16.5%), from €212,591 to €177,502
- Other operating charges -€21,000
down €21,000 (-89.3%), from €23,508 to €2,508
- Taxes -€6,258
down €6,258 (-16.8%), from €37,145 to €30,887
- Financial charges +€2,878
up €2,878 (+84.6%), from €3,403 to €6,281
- Depreciation +€2,476
up €2,476 (+20.7%), from €11,935 to €14,411
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 | €332,325 | €370,196 | +€37,872 | +11.4% |
| Fixed assets | 21/28 | €138,001 | €84,158 | -€53,844 | -39.0% |
| Tangible fixed assets | 22/27 | €136,027 | €82,055 | -€53,972 | -39.7% |
| Plant, machinery and equipment | 23 | €2,682 | €1,351 | -€1,331 | -49.6% |
| Furniture and vehicles | 24 | €53,591 | €8,903 | -€44,688 | -83.4% |
| Other tangible fixed assets | 26 | €79,754 | €71,802 | -€7,952 | -10.0% |
| Financial fixed assets | 28 | €1,974 | €2,102 | +€129 | +6.5% |
| Current assets | 29/58 | €194,324 | €286,039 | +€91,715 | +47.2% |
| Amounts receivable after more than one year | 29 | €76,500 | €76,500 | = | 0.0% |
| Other amounts receivable | 291 | €76,500 | €76,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €97,597 | €157,527 | +€59,930 | +61.4% |
| Trade receivables | 40 | €97,597 | €157,527 | +€59,930 | +61.4% |
| Cash at bank and in hand | 54/58 | €19,416 | €49,364 | +€29,948 | +154% |
| Deferred charges and accrued income | 490/1 | €811 | €2,648 | +€1,837 | +227% |
| Total equity and liabilities | 10/49 | €332,325 | €370,196 | +€37,872 | +11.4% |
| Equity | 10/15 | €171,148 | €229,744 | +€58,595 | +34.2% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €140,000 | €192,000 | +€52,000 | +37.1% |
| Distributable reserves | 133 | €140,000 | €192,000 | +€52,000 | +37.1% |
| Profit (loss) carried forward | 14 | €10,688 | €17,284 | +€6,595 | +61.7% |
| Amounts payable | 17/49 | €161,176 | €140,452 | -€20,724 | -12.9% |
| Amounts payable after more than one year | 17 | €84,891 | €67,905 | -€16,986 | -20.0% |
| Financial debts | 170/4 | €84,891 | €67,905 | -€16,986 | -20.0% |
| Amounts payable within one year | 42/48 | €76,285 | €72,547 | -€3,738 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €15,374 | €16,986 | +€1,612 | +10.5% |
| Trade debts | 44 | €2,853 | €4,832 | +€1,979 | +69.4% |
| Suppliers | 440/4 | €2,853 | €4,832 | +€1,979 | +69.4% |
| Taxes, remuneration and social security | 45 | €58,058 | €49,802 | -€8,256 | -14.2% |
| Taxes | 450/3 | €43,632 | €43,073 | -€559 | -1.3% |
| Remuneration and social security | 454/9 | €14,426 | €6,729 | -€7,696 | -53.4% |
| Other amounts payable | 47/48 | - | €927 | +€927 | |
| Remuneration, social security and pensions | 62 | €65,972 | €65,847 | -€126 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,935 | €14,411 | +€2,476 | +20.7% |
| Other operating charges | 640/8 | €23,508 | €2,508 | -€21,000 | -89.3% |
| Gross operating margin | 9900 | €212,591 | €177,502 | -€35,089 | -16.5% |
| Operating profit (loss) | 9901 | €111,175 | €94,737 | -€16,439 | -14.8% |
| Financial income | 75/76B | €1,017 | €1,017 | = | 0.0% |
| Recurring financial income | 75 | €1,017 | €1,017 | = | 0.0% |
| Financial charges | 65/66B | €3,403 | €6,281 | +€2,878 | +84.6% |
| Recurring financial charges | 65 | €3,403 | €6,281 | +€2,878 | +84.6% |
| Profit (loss) for the period before taxes | 9903 | €108,790 | €89,473 | -€19,316 | -17.8% |
| Income taxes | 67/77 | €37,145 | €30,887 | -€6,258 | -16.8% |
| Profit (loss) for the period | 9904 | €71,645 | €58,586 | -€13,059 | -18.2% |
| Profit (loss) for the period to be appropriated | 9905 | €71,645 | €58,586 | -€13,059 | -18.2% |
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 24 October 2026 via checked.be.