CTO LIMBURG: what changed
CTO LIMBURG
Largest movements
- Tangible fixed assets -€10,292
down €10,292 (-6.1%), from €169,457 to €159,166
of which Land and buildings: -€8,918
- Receivables within one year +€6,346
up €6,346 (+35.0%), from €18,135 to €24,481
of which Other amounts receivable: +€9,804
- Cash -€3,534
down €3,534 (-15.5%), from €22,819 to €19,285
mainly Debts after one year (-€17,499) and Receivables within one year (-€6,346)
- Debts after one year -€17,499
down €17,499 (-25.2%), from €69,416 to €51,917
of which Financial debts: -€17,077
- Reserves +€15,000
up €15,000 (+20.2%), from €74,189 to €89,189
of which Distributable reserves: +€15,000
- Tax, wage and social debts -€6,139
down €6,139 (-35.6%), from €17,239 to €11,101
- Gross operating margin -€8,518
down €8,518 (-16.8%), from €50,771 to €42,253
- Taxes -€1,306
down €1,306 (-14.5%), from €9,021 to €7,716
- Financial charges -€1,256
down €1,256 (-17.5%), from €7,195 to €5,939
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €248,981 | €241,551 | -€7,430 | -3.0% |
| Fixed assets | 21/28 | €169,457 | €159,166 | -€10,292 | -6.1% |
| Tangible fixed assets | 22/27 | €169,457 | €159,166 | -€10,292 | -6.1% |
| Land and buildings | 22 | €163,733 | €154,815 | -€8,918 | -5.4% |
| Plant, machinery and equipment | 23 | €2,839 | €3,379 | +€540 | +19.0% |
| Furniture and vehicles | 24 | €2,885 | €972 | -€1,913 | -66.3% |
| Current assets | 29/58 | €79,524 | €82,386 | +€2,862 | +3.6% |
| Amounts receivable within one year | 40/41 | €18,135 | €24,481 | +€6,346 | +35.0% |
| Trade receivables | 40 | €18,135 | €14,678 | -€3,458 | -19.1% |
| Other amounts receivable | 41 | - | €9,804 | +€9,804 | |
| Current investments | 50/53 | €35,000 | €35,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €22,819 | €19,285 | -€3,534 | -15.5% |
| Deferred charges and accrued income | 490/1 | €3,569 | €3,619 | +€49 | +1.4% |
| Total equity and liabilities | 10/49 | €248,981 | €241,551 | -€7,430 | -3.0% |
| Equity | 10/15 | €144,057 | €159,512 | +€15,455 | +10.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €74,189 | €89,189 | +€15,000 | +20.2% |
| Tax-exempt reserves | 132 | €1,733 | €1,733 | = | 0.0% |
| Distributable reserves | 133 | €72,456 | €87,456 | +€15,000 | +20.7% |
| Profit (loss) carried forward | 14 | €51,276 | €51,731 | +€455 | +0.9% |
| Amounts payable | 17/49 | €104,924 | €82,039 | -€22,885 | -21.8% |
| Amounts payable after more than one year | 17 | €69,416 | €51,917 | -€17,499 | -25.2% |
| Financial debts | 170/4 | €68,994 | €51,917 | -€17,077 | -24.8% |
| Other amounts payable | 178/9 | €422 | - | -€422 | |
| Amounts payable within one year | 42/48 | €35,508 | €30,122 | -€5,386 | -15.2% |
| Current portion of amounts payable after more than one year | 42 | €16,194 | €17,077 | +€883 | +5.5% |
| Trade debts | 44 | €2,075 | €1,944 | -€131 | -6.3% |
| Suppliers | 440/4 | €2,075 | €1,944 | -€131 | -6.3% |
| Taxes, remuneration and social security | 45 | €17,239 | €11,101 | -€6,139 | -35.6% |
| Taxes | 450/3 | €17,239 | €11,101 | -€6,139 | -35.6% |
| Non-recurring operating income | 76A | €5,102 | - | -€5,102 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,576 | €11,856 | +€280 | +2.4% |
| Other operating charges | 640/8 | €1,658 | €1,288 | -€370 | -22.3% |
| Gross operating margin | 9900 | €50,771 | €42,253 | -€8,518 | -16.8% |
| Operating profit (loss) | 9901 | €37,536 | €29,108 | -€8,428 | -22.5% |
| Financial income | 75/76B | €6 | €1 | -€4 | -77.0% |
| Recurring financial income | 75 | €6 | €1 | -€4 | -77.0% |
| Financial charges | 65/66B | €7,195 | €5,939 | -€1,256 | -17.5% |
| Recurring financial charges | 65 | €7,195 | €5,939 | -€1,256 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €30,347 | €23,171 | -€7,177 | -23.6% |
| Income taxes | 67/77 | €9,021 | €7,716 | -€1,306 | -14.5% |
| Profit (loss) for the period | 9904 | €21,326 | €15,455 | -€5,871 | -27.5% |
| Profit (loss) for the period to be appropriated | 9905 | €21,326 | €15,455 | -€5,871 | -27.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.