CSTART: 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.
CSTART
Largest movements
- Receivables within one year +€27,734
up €27,734 (+30.5%), from €90,887 to €118,621
of which Trade receivables: +€18,528
- Tangible fixed assets +€3,293
new in 2025: €3,293
- Cash +€1,565
up €1,565 (+109.1%), from €1,435 to €3,000
mainly Net result for the year (+€46,590) and Tax, wage and social debts (+€4,134)
- Profit (loss) carried forward +€46,590
up €46,590 (+136.7%), from €34,094 to €80,684
- Debts after one year -€5,386
no longer reported in 2025 (was €5,386)
- Accrued charges and deferred income -€5,044
no longer reported in 2025 (was €5,044)
- Other debts -€4,921
no longer reported in 2025 (was €4,921)
- Current portion of long-term debt -€4,135
down €4,135 (-43.4%), from €9,522 to €5,387
- Gross operating margin +€48,927
up €48,927 (+329.4%), from €14,855 to €63,782
- Taxes +€9,784
up €9,784 (+244.1%), from €4,008 to €13,792
- Other operating charges -€890
down €890 (-50.1%), from €1,776 to €886
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 | €92,536 | €125,258 | +€32,722 | +35.4% |
| Fixed assets | 21/28 | €33 | €3,326 | +€3,293 | +9978.8% |
| Tangible fixed assets | 22/27 | - | €3,293 | +€3,293 | |
| Plant, machinery and equipment | 23 | - | €3,293 | +€3,293 | |
| Financial fixed assets | 28 | €33 | €33 | = | 0.0% |
| Current assets | 29/58 | €92,503 | €121,932 | +€29,429 | +31.8% |
| Amounts receivable within one year | 40/41 | €90,887 | €118,621 | +€27,734 | +30.5% |
| Trade receivables | 40 | €16,950 | €35,478 | +€18,528 | +109.3% |
| Other amounts receivable | 41 | €73,937 | €83,143 | +€9,206 | +12.5% |
| Cash at bank and in hand | 54/58 | €1,435 | €3,000 | +€1,565 | +109.1% |
| Deferred charges and accrued income | 490/1 | €181 | €311 | +€130 | +71.8% |
| Total equity and liabilities | 10/49 | €92,536 | €125,258 | +€32,722 | +35.4% |
| Equity | 10/15 | €54,554 | €101,144 | +€46,590 | +85.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,094 | €80,684 | +€46,590 | +136.7% |
| Amounts payable | 17/49 | €37,982 | €24,114 | -€13,868 | -36.5% |
| Amounts payable after more than one year | 17 | €5,386 | - | -€5,386 | |
| Financial debts | 170/4 | €5,386 | - | -€5,386 | |
| Amounts payable within one year | 42/48 | €27,552 | €24,114 | -€3,438 | -12.5% |
| Current portion of amounts payable after more than one year | 42 | €9,522 | €5,387 | -€4,135 | -43.4% |
| Trade debts | 44 | €5,790 | €7,274 | +€1,484 | +25.6% |
| Suppliers | 440/4 | €5,790 | €7,274 | +€1,484 | +25.6% |
| Taxes, remuneration and social security | 45 | €7,319 | €11,453 | +€4,134 | +56.5% |
| Taxes | 450/3 | €7,319 | €11,453 | +€4,134 | +56.5% |
| Other amounts payable | 47/48 | €4,921 | - | -€4,921 | |
| Accrued charges and deferred income | 492/3 | €5,044 | - | -€5,044 | |
| Remuneration, social security and pensions | 62 | €108 | - | -€108 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €15 | +€15 | |
| Other operating charges | 640/8 | €1,776 | €886 | -€890 | -50.1% |
| Gross operating margin | 9900 | €14,855 | €63,782 | +€48,927 | +329.4% |
| Operating profit (loss) | 9901 | €12,971 | €62,881 | +€49,910 | +384.8% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €2,354 | €2,499 | +€145 | +6.2% |
| Recurring financial charges | 65 | €2,354 | €2,499 | +€145 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | €10,618 | €60,382 | +€49,764 | +468.7% |
| Income taxes | 67/77 | €4,008 | €13,792 | +€9,784 | +244.1% |
| Profit (loss) for the period | 9904 | €6,610 | €46,590 | +€39,980 | +604.8% |
| Profit (loss) for the period to be appropriated | 9905 | €6,610 | €46,590 | +€39,980 | +604.8% |
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.