CSE MAINTENANCE: 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.
CSE MAINTENANCE
Largest movements
- Receivables within one year -€74,270
down €74,270 (-36.2%), from €205,017 to €130,747
of which Trade receivables: -€38,597
- Intangible fixed assets -€12,600
down €12,600 (-18.6%), from €67,729 to €55,129
- Profit (loss) carried forward -€37,577
down €37,577 (-57.6%), from €65,186 to €27,609
- Trade debts -€24,765
down €24,765 (-47.3%), from €52,354 to €27,589
- Tax, wage and social debts -€20,795
down €20,795 (-63.8%), from €32,577 to €11,782
of which Taxes: -€16,827
- Other debts -€20,000
no longer reported in 2025 (was €20,000)
- Current portion of long-term debt +€8,234
up €8,234 (+47.4%), from €17,383 to €25,617
- Gross operating margin -€123,768
down €123,768 (-90.5%), from €136,697 to €12,929
- Staff costs -€29,462
down €29,462 (-79.6%), from €37,014 to €7,553
- Taxes -€16,536
down €16,536 (-98.9%), from €16,721 to €185
- Other operating charges +€12,278
up €12,278 (+444.5%), from €2,762 to €15,040
- Financial charges +€4,869
up €4,869 (+59.2%), from €8,223 to €13,092
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 | €295,910 | €205,863 | -€90,046 | -30.4% |
| Fixed assets | 21/28 | €71,206 | €55,776 | -€15,430 | -21.7% |
| Intangible fixed assets | 21 | €67,729 | €55,129 | -€12,600 | -18.6% |
| Tangible fixed assets | 22/27 | €3,113 | €647 | -€2,467 | -79.2% |
| Plant, machinery and equipment | 23 | €1,857 | €504 | -€1,353 | -72.9% |
| Furniture and vehicles | 24 | €1,256 | €143 | -€1,113 | -88.6% |
| Financial fixed assets | 28 | €363 | €0 | -€363 | -100.0% |
| Current assets | 29/58 | €224,704 | €150,087 | -€74,617 | -33.2% |
| Amounts receivable within one year | 40/41 | €205,017 | €130,747 | -€74,270 | -36.2% |
| Trade receivables | 40 | €47,572 | €8,975 | -€38,597 | -81.1% |
| Other amounts receivable | 41 | €157,445 | €121,772 | -€35,673 | -22.7% |
| Cash at bank and in hand | 54/58 | €19,687 | €19,340 | -€347 | -1.8% |
| Total equity and liabilities | 10/49 | €295,910 | €205,863 | -€90,046 | -30.4% |
| Equity | 10/15 | €85,186 | €47,609 | -€37,577 | -44.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,186 | €27,609 | -€37,577 | -57.6% |
| Amounts payable | 17/49 | €210,724 | €158,255 | -€52,469 | -24.9% |
| Amounts payable after more than one year | 17 | €88,411 | €93,267 | +€4,856 | +5.5% |
| Financial debts | 170/4 | €88,411 | €93,267 | +€4,856 | +5.5% |
| Amounts payable within one year | 42/48 | €122,314 | €64,988 | -€57,326 | -46.9% |
| Current portion of amounts payable after more than one year | 42 | €17,383 | €25,617 | +€8,234 | +47.4% |
| Trade debts | 44 | €52,354 | €27,589 | -€24,765 | -47.3% |
| Suppliers | 440/4 | €52,354 | €27,589 | -€24,765 | -47.3% |
| Taxes, remuneration and social security | 45 | €32,577 | €11,782 | -€20,795 | -63.8% |
| Taxes | 450/3 | €27,914 | €11,088 | -€16,827 | -60.3% |
| Remuneration and social security | 454/9 | €4,663 | €694 | -€3,969 | -85.1% |
| Other amounts payable | 47/48 | €20,000 | - | -€20,000 | |
| Remuneration, social security and pensions | 62 | €37,014 | €7,553 | -€29,462 | -79.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,878 | €14,637 | -€3,241 | -18.1% |
| Other operating charges | 640/8 | €2,762 | €15,040 | +€12,278 | +444.5% |
| Gross operating margin | 9900 | €136,697 | €12,929 | -€123,768 | -90.5% |
| Operating profit (loss) | 9901 | €79,043 | -€24,300 | -€103,344 | |
| Financial income | 75/76B | €0 | €0 | +€0 | +200.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +200.0% |
| Financial charges | 65/66B | €8,223 | €13,092 | +€4,869 | +59.2% |
| Recurring financial charges | 65 | €8,223 | €13,092 | +€4,869 | +59.2% |
| Profit (loss) for the period before taxes | 9903 | €70,820 | -€37,392 | -€108,212 | |
| Income taxes | 67/77 | €16,721 | €185 | -€16,536 | -98.9% |
| Profit (loss) for the period | 9904 | €54,099 | -€37,577 | -€91,676 | |
| Profit (loss) for the period to be appropriated | 9905 | €54,099 | -€37,577 | -€91,676 |
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 8 October 2026 via checked.be.