CTFA: 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.
CTFA
Largest movements
- Receivables within one year +€550,320
up €550,320 (+111.1%), from €495,426 to €1.0m
of which Trade receivables: +€298,707
- Cash -€57,337
down €57,337 (-16.9%), from €338,939 to €281,602
mainly Contributions, distributions and other (-€683,776) and Receivables within one year (-€550,320)
- Tangible fixed assets -€25,504
down €25,504 (-44.3%), from €57,561 to €32,057
of which Furniture and vehicles: -€21,982
- Other debts +€683,776
up €683,776, from €0 to €683,776
- Reserves -€374,371
down €374,371 (-20.3%), from €1.8m to €1.5m
of which Distributable reserves: -€374,371
- Tax, wage and social debts +€85,408
up €85,408 (+445.7%), from €19,161 to €104,569
of which Taxes: +€80,189
- Trade debts +€72,666
up €72,666, from €0 to €72,666
- Gross operating margin +€103,076
up €103,076 (+23.4%), from €440,340 to €543,416
- Taxes +€37,706
up €37,706 (+33.2%), from €113,712 to €151,418
- Staff costs +€30,892
up €30,892 (+47.9%), from €64,491 to €95,383
- Financial income +€28,616
up €28,616 (+178.6%), from €16,026 to €44,642
- Depreciation -€6,836
down €6,836 (-18.6%), from €36,755 to €29,919
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,867,602 | €2,335,080 | +€467,479 | +25.0% |
| Fixed assets | 21/28 | €57,561 | €32,057 | -€25,504 | -44.3% |
| Tangible fixed assets | 22/27 | €57,561 | €32,057 | -€25,504 | -44.3% |
| Plant, machinery and equipment | 23 | €1,777 | €1,377 | -€400 | -22.5% |
| Furniture and vehicles | 24 | €44,862 | €22,880 | -€21,982 | -49.0% |
| Other tangible fixed assets | 26 | €10,922 | €7,800 | -€3,122 | -28.6% |
| Current assets | 29/58 | €1,810,040 | €2,303,023 | +€492,983 | +27.2% |
| Amounts receivable after more than one year | 29 | €975,675 | €975,675 | = | 0.0% |
| Other amounts receivable | 291 | €975,675 | €975,675 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €495,426 | €1,045,746 | +€550,320 | +111.1% |
| Trade receivables | 40 | €156,308 | €455,015 | +€298,707 | +191.1% |
| Other amounts receivable | 41 | €339,118 | €590,731 | +€251,613 | +74.2% |
| Cash at bank and in hand | 54/58 | €338,939 | €281,602 | -€57,337 | -16.9% |
| Total equity and liabilities | 10/49 | €1,867,602 | €2,335,080 | +€467,479 | +25.0% |
| Equity | 10/15 | €1,848,441 | €1,474,070 | -€374,371 | -20.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,842,241 | €1,467,870 | -€374,371 | -20.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,842,241 | €1,467,870 | -€374,371 | -20.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €19,161 | €861,011 | +€841,850 | +4393.6% |
| Amounts payable within one year | 42/48 | €19,161 | €861,011 | +€841,850 | +4393.6% |
| Trade debts | 44 | €0 | €72,666 | +€72,666 | |
| Suppliers | 440/4 | €0 | €72,666 | +€72,666 | |
| Taxes, remuneration and social security | 45 | €19,161 | €104,569 | +€85,408 | +445.7% |
| Taxes | 450/3 | €10,322 | €90,510 | +€80,189 | +776.9% |
| Remuneration and social security | 454/9 | €8,839 | €14,058 | +€5,219 | +59.0% |
| Other amounts payable | 47/48 | €0 | €683,776 | +€683,776 | |
| Remuneration, social security and pensions | 62 | €64,491 | €95,383 | +€30,892 | +47.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,755 | €29,919 | -€6,836 | -18.6% |
| Other operating charges | 640/8 | €2,144 | €1,096 | -€1,049 | -48.9% |
| Gross operating margin | 9900 | €440,340 | €543,416 | +€103,076 | +23.4% |
| Operating profit (loss) | 9901 | €336,950 | €417,019 | +€80,069 | +23.8% |
| Financial income | 75/76B | €16,026 | €44,642 | +€28,616 | +178.6% |
| Recurring financial income | 75 | €16,026 | €44,642 | +€28,616 | +178.6% |
| Financial charges | 65/66B | €2,824 | €838 | -€1,986 | -70.3% |
| Recurring financial charges | 65 | €2,824 | €838 | -€1,986 | -70.3% |
| Profit (loss) for the period before taxes | 9903 | €350,152 | €460,823 | +€110,671 | +31.6% |
| Income taxes | 67/77 | €113,712 | €151,418 | +€37,706 | +33.2% |
| Profit (loss) for the period | 9904 | €236,440 | €309,405 | +€72,965 | +30.9% |
| Profit (loss) for the period to be appropriated | 9905 | €236,440 | €309,405 | +€72,965 | +30.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.