CSB²: 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.
CSB²
Largest movements
- Receivables within one year -€256,116
down €256,116 (-48.3%), from €530,330 to €274,214
of which Trade receivables: -€237,763
- Cash +€52,496
up €52,496 (+20.9%), from €251,054 to €303,550
mainly Receivables within one year (+€256,116) and Net result for the year (+€48,241)
- Stocks and contracts -€29,170
down €29,170 (-14.6%), from €199,822 to €170,651
- Tangible fixed assets -€28,234
down €28,234 (-27.3%), from €103,541 to €75,307
of which Furniture and vehicles: -€29,086
- Advances received -€262,656
down €262,656 (-91.2%), from €287,906 to €25,250
- Profit (loss) carried forward +€48,241
up €48,241 (+183.8%), from €26,253 to €74,493
- Other debts -€40,520
down €40,520 (-85.0%), from €47,649 to €7,128
- Trade debts +€31,866
up €31,866 (+32.3%), from €98,773 to €130,639
- Debts after one year -€26,925
down €26,925 (-48.0%), from €56,082 to €29,157
- Gross operating margin +€81,521
up €81,521 (+15.4%), from €530,354 to €611,875
- Staff costs +€15,003
up €15,003 (+3.2%), from €472,677 to €487,680
- Financial income -€13,363
down €13,363 (-92.6%), from €14,427 to €1,065
- Taxes +€12,940
up €12,940 (+191.9%), from €6,743 to €19,684
- Other operating charges -€11,270
down €11,270 (-74.9%), from €15,045 to €3,775
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 | €1,096,320 | €833,260 | -€263,060 | -24.0% |
| Fixed assets | 21/28 | €110,323 | €81,009 | -€29,314 | -26.6% |
| Intangible fixed assets | 21 | €2,067 | €987 | -€1,080 | -52.3% |
| Tangible fixed assets | 22/27 | €103,541 | €75,307 | -€28,234 | -27.3% |
| Plant, machinery and equipment | 23 | €5,851 | €6,703 | +€852 | +14.6% |
| Furniture and vehicles | 24 | €97,690 | €68,604 | -€29,086 | -29.8% |
| Financial fixed assets | 28 | €4,714 | €4,714 | = | 0.0% |
| Current assets | 29/58 | €985,998 | €752,252 | -€233,746 | -23.7% |
| Stocks and contracts in progress | 3 | €199,822 | €170,651 | -€29,170 | -14.6% |
| Stocks | 30/36 | €199,822 | €170,651 | -€29,170 | -14.6% |
| Amounts receivable within one year | 40/41 | €530,330 | €274,214 | -€256,116 | -48.3% |
| Trade receivables | 40 | €511,347 | €273,584 | -€237,763 | -46.5% |
| Other amounts receivable | 41 | €18,982 | €630 | -€18,353 | -96.7% |
| Cash at bank and in hand | 54/58 | €251,054 | €303,550 | +€52,496 | +20.9% |
| Deferred charges and accrued income | 490/1 | €4,793 | €3,837 | -€956 | -19.9% |
| Total equity and liabilities | 10/49 | €1,096,320 | €833,260 | -€263,060 | -24.0% |
| Equity | 10/15 | €463,798 | €512,039 | +€48,241 | +10.4% |
| Contributions | 10/11 | €9,296 | €9,296 | = | 0.0% |
| Reserves | 13 | €428,249 | €428,249 | = | 0.0% |
| Distributable reserves | 133 | €428,249 | €428,249 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,253 | €74,493 | +€48,241 | +183.8% |
| Amounts payable | 17/49 | €632,522 | €321,221 | -€311,301 | -49.2% |
| Amounts payable after more than one year | 17 | €56,082 | €29,157 | -€26,925 | -48.0% |
| Financial debts | 170/4 | €56,082 | €29,157 | -€26,925 | -48.0% |
| Amounts payable within one year | 42/48 | €573,378 | €288,552 | -€284,825 | -49.7% |
| Current portion of amounts payable after more than one year | 42 | €38,640 | €26,925 | -€11,714 | -30.3% |
| Trade debts | 44 | €98,773 | €130,639 | +€31,866 | +32.3% |
| Suppliers | 440/4 | €98,773 | €130,639 | +€31,866 | +32.3% |
| Advances received on contracts in progress | 46 | €287,906 | €25,250 | -€262,656 | -91.2% |
| Taxes, remuneration and social security | 45 | €100,410 | €98,609 | -€1,801 | -1.8% |
| Taxes | 450/3 | €28,317 | €21,973 | -€6,344 | -22.4% |
| Remuneration and social security | 454/9 | €72,093 | €76,637 | +€4,544 | +6.3% |
| Other amounts payable | 47/48 | €47,649 | €7,128 | -€40,520 | -85.0% |
| Accrued charges and deferred income | 492/3 | €3,062 | €3,512 | +€450 | +14.7% |
| Remuneration, social security and pensions | 62 | €472,677 | €487,680 | +€15,003 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,966 | €33,498 | +€6,532 | +24.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,023 | €8,151 | +€9,174 | |
| Other operating charges | 640/8 | €15,045 | €3,775 | -€11,270 | -74.9% |
| Gross operating margin | 9900 | €530,354 | €611,875 | +€81,521 | +15.4% |
| Operating profit (loss) | 9901 | €16,690 | €78,771 | +€62,081 | +372.0% |
| Financial income | 75/76B | €14,427 | €1,065 | -€13,363 | -92.6% |
| Recurring financial income | 75 | €14,427 | €1,065 | -€13,363 | -92.6% |
| Financial charges | 65/66B | €8,493 | €11,911 | +€3,418 | +40.2% |
| Recurring financial charges | 65 | €8,493 | €11,911 | +€3,418 | +40.2% |
| Profit (loss) for the period before taxes | 9903 | €22,624 | €67,924 | +€45,301 | +200.2% |
| Income taxes | 67/77 | €6,743 | €19,684 | +€12,940 | +191.9% |
| Profit (loss) for the period | 9904 | €15,880 | €48,241 | +€32,360 | +203.8% |
| Profit (loss) for the period to be appropriated | 9905 | €15,880 | €48,241 | +€32,360 | +203.8% |
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.