CTG: what changed
What changed
CTG
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
€16,086
2024 · €47,549-€31,463
Equity
€337,830
2024 · €321,744+€16,086
Cash
€1,744
2024 · €0+€1,744
Balance sheet total
€2.6m
2024 · €1.1m+€1.5m
Largest movements
Assets
- Stocks and contracts +€1.0m
up €1.0m (+185%), from €554,976 to €1.6m
- Tangible fixed assets +€375,111
up €375,111 (+80.1%), from €468,362 to €843,473
- Receivables within one year +€139,771
up €139,771 (+388%), from €36,058 to €175,829
of which Trade receivables: +€117,889
Equity and liabilities
- Debts after one year +€1.9m
up €1.9m (+977%), from €190,956 to €2.1m
- Other debts -€258,216
down €258,216 (-100%), from €258,216 to €0
- Short-term financial debts -€79,718
down €79,718 (-32.5%), from €244,918 to €165,200
Income statement
- Gross operating margin -€45,956
down €45,956 (-58.7%), from €78,355 to €32,399
- Taxes -€13,850
down €13,850, from €12,989 to -€861
- Depreciation -€4,966
down €4,966 (-45.3%), from €10,969 to €6,003
- Financial charges +€4,517
up €4,517 (+90.0%), from €5,018 to €9,535
- Other operating charges -€1,755
down €1,755 (-95.9%), from €1,830 to €75
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€47,549
Gross operating margin
-€45,956
Depreciation
+€4,966
Other operating charges
+€1,755
Other operating items
-€1,729
Financial income
+€169
Financial charges
-€4,517
Taxes
+€13,850
Result 2025
€16,086
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€1.4m
Investment
-€385,429
Financing
+€1.8m
Cash 2024
€0
From operations (derived)
-€1.4m
Net result for the year
+€16,086
Depreciation
+€6,003
Stocks and contracts
-€1.0m
Receivables within one year
-€139,771
Smaller working-capital items
-€1,397
Trade debts
-€6,693
Other debts
-€258,216
Investment (derived)
-€385,429
Investment in fixed assets (net)
-€385,429
Financing
+€1.8m
Debts after one year
+€1.9m
Current portion of long-term debt
+€12,129
Short-term financial debts
-€79,718
Cash 2025
€1,744
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,059,818 | €2,607,132 | +€1.5m | +146% |
| Formation expenses | 20 | €71 | €0 | -€71 | -100% |
| Fixed assets | 21/28 | €468,362 | €847,859 | +€379,497 | +81.0% |
| Intangible fixed assets | 21 | - | €4,386 | +€4,386 | |
| Tangible fixed assets | 22/27 | €468,362 | €843,473 | +€375,111 | +80.1% |
| Land and buildings | 22 | €468,362 | €843,473 | +€375,111 | +80.1% |
| Current assets | 29/58 | €591,385 | €1,759,273 | +€1.2m | +197% |
| Stocks and contracts in progress | 3 | €554,976 | €1,581,700 | +€1.0m | +185% |
| Stocks | 30/36 | €554,976 | €1,581,700 | +€1.0m | +185% |
| Amounts receivable within one year | 40/41 | €36,058 | €175,829 | +€139,771 | +388% |
| Trade receivables | 40 | €35,458 | €153,347 | +€117,889 | +332% |
| Other amounts receivable | 41 | €600 | €22,482 | +€21,882 | +3,647% |
| Cash at bank and in hand | 54/58 | €0 | €1,744 | +€1,744 | |
| Deferred charges and accrued income | 490/1 | €351 | €0 | -€351 | -100% |
| Total equity and liabilities | 10/49 | €1,059,818 | €2,607,132 | +€1.5m | +146% |
| Equity | 10/15 | €321,744 | €337,830 | +€16,086 | +5.0% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Revaluation surpluses | 12 | €0 | - | = | |
| Reserves | 13 | €71,744 | €87,830 | +€16,086 | +22.4% |
| Distributable reserves | 133 | €71,744 | €87,830 | +€16,086 | +22.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €738,075 | €2,269,302 | +€1.5m | +207% |
| Amounts payable after more than one year | 17 | €190,956 | €2,056,429 | +€1.9m | +977% |
| Financial debts | 170/4 | €190,956 | €2,056,429 | +€1.9m | +977% |
| Amounts payable within one year | 42/48 | €543,752 | €212,874 | -€330,878 | -60.9% |
| Current portion of amounts payable after more than one year | 42 | €11,340 | €23,469 | +€12,129 | +107% |
| Financial debts | 43 | €244,918 | €165,200 | -€79,718 | -32.5% |
| Credit institutions | 430/8 | €244,918 | €165,200 | -€79,718 | -32.5% |
| Trade debts | 44 | €6,693 | €0 | -€6,693 | -100% |
| Suppliers | 440/4 | €6,693 | €0 | -€6,693 | -100% |
| Taxes, remuneration and social security | 45 | €22,585 | €24,205 | +€1,620 | +7.2% |
| Taxes | 450/3 | €22,585 | €24,205 | +€1,620 | +7.2% |
| Other amounts payable | 47/48 | €258,216 | €0 | -€258,216 | -100% |
| Accrued charges and deferred income | 492/3 | €3,367 | €0 | -€3,367 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,969 | €6,003 | -€4,966 | -45.3% |
| Other operating charges | 640/8 | €1,830 | €75 | -€1,755 | -95.9% |
| Non-recurring operating charges | 66A | - | €1,729 | +€1,729 | |
| Gross operating margin | 9900 | €78,355 | €32,399 | -€45,956 | -58.7% |
| Operating profit (loss) | 9901 | €65,556 | €24,592 | -€40,965 | -62.5% |
| Financial income | 75/76B | - | €169 | +€169 | |
| Recurring financial income | 75 | - | €169 | +€169 | |
| Financial charges | 65/66B | €5,018 | €9,535 | +€4,517 | +90.0% |
| Recurring financial charges | 65 | €5,018 | €9,535 | +€4,517 | +90.0% |
| Profit (loss) for the period before taxes | 9903 | €60,538 | €15,225 | -€45,313 | -74.9% |
| Income taxes | 67/77 | €12,989 | -€861 | -€13,850 | |
| Profit (loss) for the period | 9904 | €47,549 | €16,086 | -€31,463 | -66.2% |
| Profit (loss) for the period to be appropriated | 9905 | €47,549 | €16,086 | -€31,463 | -66.2% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.