CSQ: 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.
CSQ
Largest movements
- Cash -€40,963
down €40,963 (-29.6%), from €138,349 to €97,386
mainly Contributions, distributions and other (-€120,000) and Tax, wage and social debts (-€8,766)
- Receivables within one year -€21,561
down €21,561 (-62.6%), from €34,462 to €12,901
of which Trade receivables: -€24,140
- Tangible fixed assets -€8,733
down €8,733 (-19.7%), from €44,414 to €35,682
of which Furniture and vehicles: -€10,412
- Reserves -€65,244
down €65,244 (-55.3%), from €117,997 to €52,753
- Tax, wage and social debts -€8,766
down €8,766 (-66.1%), from €13,262 to €4,497
- Other debts +€3,707
up €3,707 (+3.2%), from €117,650 to €121,357
- Gross operating margin -€51,843
down €51,843 (-39.4%), from €131,546 to €79,703
- Taxes -€11,250
down €11,250 (-45.5%), from €24,716 to €13,466
- Financial income +€4,555
up €4,555, from €0 to €4,555
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 | €267,762 | €197,282 | -€70,480 | -26.3% |
| Fixed assets | 21/28 | €44,414 | €35,682 | -€8,733 | -19.7% |
| Tangible fixed assets | 22/27 | €44,414 | €35,682 | -€8,733 | -19.7% |
| Furniture and vehicles | 24 | €41,361 | €30,949 | -€10,412 | -25.2% |
| Other tangible fixed assets | 26 | €3,053 | €4,732 | +€1,679 | +55.0% |
| Current assets | 29/58 | €223,348 | €161,600 | -€61,748 | -27.6% |
| Amounts receivable within one year | 40/41 | €34,462 | €12,901 | -€21,561 | -62.6% |
| Trade receivables | 40 | €24,140 | €0 | -€24,140 | -100% |
| Other amounts receivable | 41 | €10,323 | €12,901 | +€2,578 | +25.0% |
| Current investments | 50/53 | €48,780 | €48,780 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €138,349 | €97,386 | -€40,963 | -29.6% |
| Deferred charges and accrued income | 490/1 | €1,757 | €2,533 | +€776 | +44.2% |
| Total equity and liabilities | 10/49 | €267,762 | €197,282 | -€70,480 | -26.3% |
| Equity | 10/15 | €136,597 | €71,353 | -€65,244 | -47.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €117,997 | €52,753 | -€65,244 | -55.3% |
| Distributable reserves | 133 | €117,997 | €52,753 | -€65,244 | -55.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €131,165 | €125,928 | -€5,237 | -4.0% |
| Amounts payable within one year | 42/48 | €131,165 | €125,928 | -€5,237 | -4.0% |
| Trade debts | 44 | €253 | €75 | -€178 | -70.3% |
| Suppliers | 440/4 | €253 | €75 | -€178 | -70.3% |
| Taxes, remuneration and social security | 45 | €13,262 | €4,497 | -€8,766 | -66.1% |
| Taxes | 450/3 | €13,262 | €4,497 | -€8,766 | -66.1% |
| Other amounts payable | 47/48 | €117,650 | €121,357 | +€3,707 | +3.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,292 | €14,251 | -€41 | -0.3% |
| Other operating charges | 640/8 | €759 | €783 | +€24 | +3.2% |
| Non-recurring operating charges | 66A | - | €379 | +€379 | |
| Gross operating margin | 9900 | €131,546 | €79,703 | -€51,843 | -39.4% |
| Operating profit (loss) | 9901 | €116,495 | €64,290 | -€52,205 | -44.8% |
| Financial income | 75/76B | €0 | €4,555 | +€4,555 | |
| Recurring financial income | 75 | €0 | €4,555 | +€4,555 | |
| Financial charges | 65/66B | €735 | €623 | -€112 | -15.2% |
| Recurring financial charges | 65 | €735 | €623 | -€112 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €115,760 | €68,222 | -€47,538 | -41.1% |
| Income taxes | 67/77 | €24,716 | €13,466 | -€11,250 | -45.5% |
| Profit (loss) for the period | 9904 | €91,044 | €54,756 | -€36,288 | -39.9% |
| Profit (loss) for the period to be appropriated | 9905 | €91,044 | €54,756 | -€36,288 | -39.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.