CSJ ELEC: 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.
CSJ ELEC
Largest movements
- Financial fixed assets +€431,393
up €431,393 (+57,274%), from €753 to €432,146
- Receivables within one year -€258,758
down €258,758 (-39.0%), from €663,021 to €404,262
of which Other amounts receivable: -€345,180
- Accrued charges and deferred income +€116,024
new in 2025: €116,024
- Reserves +€90,875
up €90,875 (+28.3%), from €321,026 to €411,901
of which Distributable reserves: +€92,735
- Other debts -€72,387
no longer reported in 2025 (was €72,387)
- Tax, wage and social debts +€38,300
up €38,300 (+69.0%), from €55,498 to €93,798
- Gross operating margin +€57,421
up €57,421 (+77.6%), from €73,968 to €131,389
- Taxes +€27,046
up €27,046 (+92.9%), from €29,104 to €56,149
- Write-downs -€13,653
no longer reported in 2025 (was €13,653)
- Staff costs +€6,544
new in 2025: €6,544
- Financial income -€4,604
down €4,604 (-12.6%), from €36,587 to €31,983
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 | €687,848 | €857,918 | +€170,070 | +24.7% |
| Fixed assets | 21/28 | €19,612 | €447,590 | +€427,978 | +2,182% |
| Tangible fixed assets | 22/27 | €18,859 | €15,444 | -€3,415 | -18.1% |
| Furniture and vehicles | 24 | €10,712 | €8,197 | -€2,515 | -23.5% |
| Other tangible fixed assets | 26 | €8,147 | €7,247 | -€900 | -11.0% |
| Financial fixed assets | 28 | €753 | €432,146 | +€431,393 | +57,274% |
| Current assets | 29/58 | €668,236 | €410,328 | -€257,908 | -38.6% |
| Amounts receivable within one year | 40/41 | €663,021 | €404,262 | -€258,758 | -39.0% |
| Trade receivables | 40 | - | €86,421 | +€86,421 | |
| Other amounts receivable | 41 | €663,021 | €317,841 | -€345,180 | -52.1% |
| Current investments | 50/53 | €519 | €473 | -€47 | -9.0% |
| Cash at bank and in hand | 54/58 | €4,696 | €3,184 | -€1,511 | -32.2% |
| Deferred charges and accrued income | 490/1 | - | €2,409 | +€2,409 | |
| Total equity and liabilities | 10/49 | €687,848 | €857,918 | +€170,070 | +24.7% |
| Equity | 10/15 | €339,626 | €432,361 | +€92,735 | +27.3% |
| Contributions | 10/11 | €18,600 | €20,460 | +€1,860 | +10.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Contributions outside capital | 11 | - | €20,460 | +€20,460 | |
| Share premium | 1100/10 | - | €20,460 | +€20,460 | |
| Reserves | 13 | €321,026 | €411,901 | +€90,875 | +28.3% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €319,166 | €411,901 | +€92,735 | +29.1% |
| Amounts payable | 17/49 | €348,222 | €425,557 | +€77,335 | +22.2% |
| Amounts payable within one year | 42/48 | €348,222 | €309,533 | -€38,689 | -11.1% |
| Current portion of amounts payable after more than one year | 42 | €1,863 | - | -€1,863 | |
| Trade debts | 44 | €218,474 | €215,735 | -€2,739 | -1.3% |
| Suppliers | 440/4 | €218,474 | €215,735 | -€2,739 | -1.3% |
| Taxes, remuneration and social security | 45 | €55,498 | €93,798 | +€38,300 | +69.0% |
| Taxes | 450/3 | €55,498 | €93,798 | +€38,300 | +69.0% |
| Other amounts payable | 47/48 | €72,387 | - | -€72,387 | |
| Accrued charges and deferred income | 492/3 | - | €116,024 | +€116,024 | |
| Non-recurring operating income | 76A | €9,270 | - | -€9,270 | |
| Remuneration, social security and pensions | 62 | - | €6,544 | +€6,544 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,224 | €3,415 | +€2,191 | +179% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €13,653 | - | -€13,653 | |
| Other operating charges | 640/8 | €571 | €930 | +€358 | +62.7% |
| Non-recurring operating charges | 66A | €3,829 | €2,840 | -€989 | -25.8% |
| Gross operating margin | 9900 | €73,968 | €131,389 | +€57,421 | +77.6% |
| Operating profit (loss) | 9901 | €54,691 | €117,661 | +€62,970 | +115% |
| Financial income | 75/76B | €36,587 | €31,983 | -€4,604 | -12.6% |
| Recurring financial income | 75 | €36,587 | €31,983 | -€4,604 | -12.6% |
| Financial charges | 65/66B | €1,779 | €760 | -€1,020 | -57.3% |
| Recurring financial charges | 65 | €1,779 | €760 | -€1,020 | -57.3% |
| Profit (loss) for the period before taxes | 9903 | €89,499 | €148,885 | +€59,386 | +66.4% |
| Income taxes | 67/77 | €29,104 | €56,149 | +€27,046 | +92.9% |
| Profit (loss) for the period | 9904 | €60,395 | €92,735 | +€32,340 | +53.5% |
| Profit (loss) for the period to be appropriated | 9905 | €60,395 | €92,735 | +€32,340 | +53.5% |
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 17 October 2026 via checked.be.