CSA Management: 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.
CSA Management
Largest movements
- Cash -€50,163
down €50,163 (-73.4%), from €68,308 to €18,145
mainly Contributions, distributions and other (-€66,412) and Other debts (-€42,257)
- Tangible fixed assets -€6,463
down €6,463 (-87.1%), from €7,425 to €961
- Receivables within one year +€3,774
up €3,774 (+167.8%), from €2,250 to €6,024
of which Other amounts receivable: +€3,774
- Financial fixed assets +€2,500
new in 2025: €2,500
- Other debts -€42,257
down €42,257 (-76.5%), from €55,257 to €13,000
- Current portion of long-term debt -€6,943
down €6,943 (-100.0%), from €6,943 to €0
- Profit (loss) carried forward -€4,312
down €4,312 (-95.8%), from €4,500 to €188
- Tax, wage and social debts +€2,905
up €2,905 (+21.9%), from €13,268 to €16,173
of which Taxes: +€2,905
- Gross operating margin +€61,774
up €61,774 (+203.4%), from €30,366 to €92,140
- Taxes +€16,551
up €16,551 (+312.7%), from €5,292 to €21,843
- Depreciation -€2,186
down €2,186 (-22.0%), from €9,954 to €7,768
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 | €80,043 | €29,536 | -€50,507 | -63.1% |
| Fixed assets | 21/28 | €7,425 | €3,461 | -€3,963 | -53.4% |
| Tangible fixed assets | 22/27 | €7,425 | €961 | -€6,463 | -87.1% |
| Furniture and vehicles | 24 | €7,425 | €961 | -€6,463 | -87.1% |
| Financial fixed assets | 28 | - | €2,500 | +€2,500 | |
| Current assets | 29/58 | €72,618 | €26,074 | -€46,544 | -64.1% |
| Amounts receivable within one year | 40/41 | €2,250 | €6,024 | +€3,774 | +167.8% |
| Trade receivables | 40 | €242 | €242 | = | 0.0% |
| Other amounts receivable | 41 | €2,008 | €5,782 | +€3,774 | +188.0% |
| Cash at bank and in hand | 54/58 | €68,308 | €18,145 | -€50,163 | -73.4% |
| Deferred charges and accrued income | 490/1 | €2,061 | €1,905 | -€155 | -7.5% |
| Total equity and liabilities | 10/49 | €80,043 | €29,536 | -€50,507 | -63.1% |
| Equity | 10/15 | €4,501 | €189 | -€4,312 | -95.8% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,500 | €188 | -€4,312 | -95.8% |
| Amounts payable | 17/49 | €75,542 | €29,347 | -€46,195 | -61.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €75,542 | €29,347 | -€46,195 | -61.2% |
| Current portion of amounts payable after more than one year | 42 | €6,943 | €0 | -€6,943 | -100.0% |
| Trade debts | 44 | €74 | €173 | +€99 | +134.1% |
| Suppliers | 440/4 | €74 | €173 | +€99 | +134.1% |
| Taxes, remuneration and social security | 45 | €13,268 | €16,173 | +€2,905 | +21.9% |
| Taxes | 450/3 | €13,268 | €16,173 | +€2,905 | +21.9% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €55,257 | €13,000 | -€42,257 | -76.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,954 | €7,768 | -€2,186 | -22.0% |
| Other operating charges | 640/8 | €151 | €151 | +€0 | 0.0% |
| Non-recurring operating charges | 66A | €126 | €108 | -€18 | -14.1% |
| Gross operating margin | 9900 | €30,366 | €92,140 | +€61,774 | +203.4% |
| Operating profit (loss) | 9901 | €20,135 | €84,112 | +€63,977 | +317.7% |
| Financial charges | 65/66B | €334 | €169 | -€165 | -49.4% |
| Recurring financial charges | 65 | €334 | €169 | -€165 | -49.4% |
| Profit (loss) for the period before taxes | 9903 | €19,801 | €83,943 | +€64,143 | +323.9% |
| Income taxes | 67/77 | €5,292 | €21,843 | +€16,551 | +312.7% |
| Profit (loss) for the period | 9904 | €14,508 | €62,100 | +€47,592 | +328.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,508 | €62,100 | +€47,592 | +328.0% |
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 30 September 2026 via checked.be.