CT5: 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.
CT5
Largest movements
- Cash -€71,599
down €71,599 (-34.9%), from €205,357 to €133,758
mainly Net result for the year (-€67,669) and Accrued charges and deferred income (-€48,555)
- Receivables within one year -€51,986
down €51,986 (-46.5%), from €111,756 to €59,770
of which Other amounts receivable: -€69,431
- Tangible fixed assets -€25,131
down €25,131 (-10.4%), from €241,550 to €216,419
of which Other tangible fixed assets: -€14,231
- Stocks and contracts -€17,815
down €17,815 (-6.1%), from €290,648 to €272,834
- Deferred charges and accrued income +€14,546
up €14,546 (+344.2%), from €4,226 to €18,772
- Reserves -€87,000
down €87,000 (-23.6%), from €369,000 to €282,000
- Accrued charges and deferred income -€48,555
down €48,555 (-100.0%), from €48,555 to €0
- Trade debts +€30,996
up €30,996 (+9.4%), from €331,021 to €362,017
- Other debts -€17,739
down €17,739 (-100.0%), from €17,739 to €0
- Short-term financial debts -€12,854
down €12,854 (-100.0%), from €12,854 to €0
- Gross operating margin -€65,372
down €65,372 (-18.9%), from €345,335 to €279,963
- Depreciation -€37,487
down €37,487 (-43.4%), from €86,320 to €48,833
- Staff costs +€11,053
up €11,053 (+4.2%), from €263,363 to €274,416
- Write-downs +€4,415
new in 2025: €4,415
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 | €855,667 | €701,552 | -€154,114 | -18.0% |
| Fixed assets | 21/28 | €243,680 | €216,419 | -€27,261 | -11.2% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €241,550 | €216,419 | -€25,131 | -10.4% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €960 | €0 | -€960 | -100.0% |
| Furniture and vehicles | 24 | €22,021 | €12,081 | -€9,940 | -45.1% |
| Other tangible fixed assets | 26 | €218,569 | €204,339 | -€14,231 | -6.5% |
| Financial fixed assets | 28 | €2,130 | €0 | -€2,130 | -100.0% |
| Current assets | 29/58 | €611,986 | €485,133 | -€126,853 | -20.7% |
| Stocks and contracts in progress | 3 | €290,648 | €272,834 | -€17,815 | -6.1% |
| Stocks | 30/36 | €290,648 | €272,834 | -€17,815 | -6.1% |
| Amounts receivable within one year | 40/41 | €111,756 | €59,770 | -€51,986 | -46.5% |
| Trade receivables | 40 | €30,453 | €47,898 | +€17,445 | +57.3% |
| Other amounts receivable | 41 | €81,303 | €11,872 | -€69,431 | -85.4% |
| Cash at bank and in hand | 54/58 | €205,357 | €133,758 | -€71,599 | -34.9% |
| Deferred charges and accrued income | 490/1 | €4,226 | €18,772 | +€14,546 | +344.2% |
| Total equity and liabilities | 10/49 | €855,667 | €701,552 | -€154,114 | -18.0% |
| Equity | 10/15 | €388,340 | €300,671 | -€87,669 | -22.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €369,000 | €282,000 | -€87,000 | -23.6% |
| Distributable reserves | 133 | €369,000 | €282,000 | -€87,000 | -23.6% |
| Profit (loss) carried forward | 14 | €740 | €71 | -€669 | -90.4% |
| Amounts payable | 17/49 | €467,327 | €400,881 | -€66,446 | -14.2% |
| Amounts payable after more than one year | 17 | €3,579 | €0 | -€3,579 | -100.0% |
| Financial debts | 170/4 | €3,579 | €0 | -€3,579 | -100.0% |
| Amounts payable within one year | 42/48 | €415,192 | €400,881 | -€14,311 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €14,187 | €3,579 | -€10,607 | -74.8% |
| Financial debts | 43 | €12,854 | €0 | -€12,854 | -100.0% |
| Credit institutions | 430/8 | €12,854 | €0 | -€12,854 | -100.0% |
| Trade debts | 44 | €331,021 | €362,017 | +€30,996 | +9.4% |
| Suppliers | 440/4 | €331,021 | €362,017 | +€30,996 | +9.4% |
| Advances received on contracts in progress | 46 | €492 | €509 | +€17 | +3.5% |
| Taxes, remuneration and social security | 45 | €38,900 | €34,776 | -€4,125 | -10.6% |
| Taxes | 450/3 | €6,517 | €5,679 | -€838 | -12.9% |
| Remuneration and social security | 454/9 | €32,384 | €29,097 | -€3,287 | -10.2% |
| Other amounts payable | 47/48 | €17,739 | €0 | -€17,739 | -100.0% |
| Accrued charges and deferred income | 492/3 | €48,555 | €0 | -€48,555 | -100.0% |
| Remuneration, social security and pensions | 62 | €263,363 | €274,416 | +€11,053 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,320 | €48,833 | -€37,487 | -43.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,415 | +€4,415 | |
| Other operating charges | 640/8 | €3,876 | €6,045 | +€2,169 | +56.0% |
| Gross operating margin | 9900 | €345,335 | €279,963 | -€65,372 | -18.9% |
| Operating profit (loss) | 9901 | -€8,224 | -€53,746 | -€45,522 | -553.5% |
| Financial income | 75/76B | €0 | €319 | +€319 | |
| Recurring financial income | 75 | €0 | €319 | +€319 | |
| Financial charges | 65/66B | €16,549 | €14,051 | -€2,498 | -15.1% |
| Recurring financial charges | 65 | €16,549 | €14,051 | -€2,498 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | -€24,773 | -€67,477 | -€42,704 | -172.4% |
| Income taxes | 67/77 | €2,342 | €191 | -€2,150 | -91.8% |
| Profit (loss) for the period | 9904 | -€27,115 | -€67,669 | -€40,554 | -149.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,115 | -€67,669 | -€40,554 | -149.6% |
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 11 October 2026 via checked.be.