CT MANAGEMENT: 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.
CT MANAGEMENT
Largest movements
- Cash -€88,122
down €88,122 (-62.4%), from €141,294 to €53,172
mainly Investment in fixed assets (net) (-€51,566) and Debts after one year (-€35,276)
- Receivables after one year -€46,586
no longer reported in 2025 (was €46,586)
- Tangible fixed assets +€38,872
up €38,872 (+12.8%), from €302,645 to €341,516
- Debts after one year -€35,276
down €35,276 (-7.4%), from €475,761 to €440,486
of which Other amounts payable: -€30,000
- Profit (loss) carried forward -€32,995
down €32,995, from €929 to -€32,066
- Tax, wage and social debts -€16,596
down €16,596 (-98.9%), from €16,772 to €176
- Depreciation -€36,532
down €36,532 (-74.2%), from €49,226 to €12,694
- Gross operating margin +€17,914
up €17,914 (+64.2%), from -€27,912 to -€9,999
- Taxes +€5,721
up €5,721 (+4,326%), from €132 to €5,853
- Financial charges +€4,835
up €4,835 (+393%), from €1,230 to €6,065
- Financial income +€1,166
up €1,166 (+53.2%), from €2,192 to €3,357
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 | €739,205 | €648,994 | -€90,210 | -12.2% |
| Fixed assets | 21/28 | €302,645 | €341,516 | +€38,872 | +12.8% |
| Tangible fixed assets | 22/27 | €302,645 | €341,516 | +€38,872 | +12.8% |
| Land and buildings | 22 | €302,645 | €341,516 | +€38,872 | +12.8% |
| Current assets | 29/58 | €436,560 | €307,478 | -€129,082 | -29.6% |
| Amounts receivable after more than one year | 29 | €46,586 | - | -€46,586 | |
| Other amounts receivable | 291 | €46,586 | - | -€46,586 | |
| Amounts receivable within one year | 40/41 | €46,586 | €52,790 | +€6,204 | +13.3% |
| Other amounts receivable | 41 | €46,586 | €52,790 | +€6,204 | +13.3% |
| Current investments | 50/53 | €200,000 | €200,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €141,294 | €53,172 | -€88,122 | -62.4% |
| Deferred charges and accrued income | 490/1 | €2,093 | €1,516 | -€577 | -27.6% |
| Total equity and liabilities | 10/49 | €739,205 | €648,994 | -€90,210 | -12.2% |
| Equity | 10/15 | €204,929 | €171,934 | -€32,995 | -16.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €199,000 | €199,000 | = | 0.0% |
| Distributable reserves | 133 | €199,000 | €199,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €929 | -€32,066 | -€32,995 | |
| Amounts payable | 17/49 | €534,276 | €477,060 | -€57,216 | -10.7% |
| Amounts payable after more than one year | 17 | €475,761 | €440,486 | -€35,276 | -7.4% |
| Financial debts | 170/4 | €144,511 | €139,236 | -€5,276 | -3.7% |
| Other amounts payable | 178/9 | €331,250 | €301,250 | -€30,000 | -9.1% |
| Amounts payable within one year | 42/48 | €58,515 | €36,544 | -€21,970 | -37.5% |
| Current portion of amounts payable after more than one year | 42 | €5,075 | €5,276 | +€201 | +4.0% |
| Trade debts | 44 | €3,460 | €1,093 | -€2,367 | -68.4% |
| Suppliers | 440/4 | €3,460 | €1,093 | -€2,367 | -68.4% |
| Taxes, remuneration and social security | 45 | €16,772 | €176 | -€16,596 | -98.9% |
| Taxes | 450/3 | €16,772 | €176 | -€16,596 | -98.9% |
| Other amounts payable | 47/48 | €33,208 | €30,000 | -€3,208 | -9.7% |
| Accrued charges and deferred income | 492/3 | - | €30 | +€30 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,226 | €12,694 | -€36,532 | -74.2% |
| Other operating charges | 640/8 | €599 | €1,741 | +€1,141 | +190% |
| Gross operating margin | 9900 | -€27,912 | -€9,999 | +€17,914 | +64.2% |
| Operating profit (loss) | 9901 | -€77,738 | -€24,434 | +€53,304 | +68.6% |
| Financial income | 75/76B | €2,192 | €3,357 | +€1,166 | +53.2% |
| Recurring financial income | 75 | €2,192 | €3,357 | +€1,166 | +53.2% |
| Financial charges | 65/66B | €1,230 | €6,065 | +€4,835 | +393% |
| Recurring financial charges | 65 | €1,230 | €6,065 | +€4,835 | +393% |
| Profit (loss) for the period before taxes | 9903 | -€76,776 | -€27,141 | +€49,635 | +64.6% |
| Income taxes | 67/77 | €132 | €5,853 | +€5,721 | +4,326% |
| Profit (loss) for the period | 9904 | -€76,908 | -€32,995 | +€43,914 | +57.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€76,908 | -€32,995 | +€43,914 | +57.1% |
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 15 October 2026 via checked.be.