CTS: 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.
What changed
CTS
NACE 46.350, Wholesale trade
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.3m
2024 · €1.6m+€671,088
Equity
€7.5m
2024 · €5.2m+€2.3m
Cash
€902,483
2024 · €274,874+€627,609
Balance sheet total
€8.9m
2024 · €7.8m+€1.0m
Largest movements
Assets
- Stocks and contracts +€707,292
up €707,292 (+24.2%), from €2.9m to €3.6m
- Cash +€627,609
up €627,609 (+228.3%), from €274,874 to €902,483
mainly Net result for the year (+€2.3m) and Depreciation (+€821,008)
- Receivables within one year -€360,723
down €360,723 (-13.2%), from €2.7m to €2.4m
of which Trade receivables: -€197,455
Equity and liabilities
- Reserves +€2.3m
up €2.3m (+43.4%), from €5.2m to €7.5m
- Trade debts -€769,745
down €769,745 (-45.3%), from €1.7m to €931,014
- Debts after one year -€479,832
no longer reported in 2025 (was €479,832)
of which Other amounts payable: -€377,439
Income statement
- Turnover -€15.0m
no longer reported in 2025 (was €15.0m)
- Goods and materials -€9.3m
no longer reported in 2025 (was €9.3m)
of which Purchases: -€9.6m
- Gross operating margin +€4.3m
new in 2025: €4.3m
- Services and other goods -€2.4m
no longer reported in 2025 (was €2.4m)
- Taxes +€192,803
up €192,803 (+36.2%), from €532,634 to €725,437
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.
Result 2024
€1.6m
Turnover
-€15.0m
Other operating income
-€41,398
Goods and materials
+€9.3m
Services and other goods
+€2.4m
Staff costs
-€39,706
Depreciation
-€104,989
Other operating charges
+€9,130
Other operating items
+€4.3m
Financial income
+€54,141
Financial charges
+€8,693
Taxes
-€192,803
Result 2025
€2.3m
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.
From operations
+€2.0m
Investment
-€889,003
Financing
-€478,621
Cash 2024
€274,874
From operations (derived)
+€2.0m
Net result for the year
+€2.3m
Depreciation
+€821,008
Stocks and contracts
-€707,292
Receivables within one year
+€360,723
Trade debts
-€769,745
Tax, wage and social debts
+€31,626
Investment (derived)
-€889,003
Investment in fixed assets (net)
-€889,003
Financing
-€478,621
Debts after one year
-€479,832
Current portion of long-term debt
+€1,211
Cash 2025
€902,483
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,819,381 | €8,861,554 | +€1.0m | +13.3% |
| Fixed assets | 21/28 | €1,891,968 | €1,959,962 | +€67,995 | +3.6% |
| Intangible fixed assets | 21 | - | €7,871 | +€7,871 | |
| Tangible fixed assets | 22/27 | €1,876,968 | €1,937,091 | +€60,124 | +3.2% |
| Plant, machinery and equipment | 23 | €1,836,201 | €1,912,833 | +€76,632 | +4.2% |
| Furniture and vehicles | 24 | €40,767 | €24,259 | -€16,508 | -40.5% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Affiliated companies | 280/1 | €15,000 | - | -€15,000 | |
| Participating interests | 280 | €15,000 | - | -€15,000 | |
| Current assets | 29/58 | €5,927,413 | €6,901,591 | +€974,178 | +16.4% |
| Stocks and contracts in progress | 3 | €2,927,512 | €3,634,804 | +€707,292 | +24.2% |
| Stocks | 30/36 | €2,927,512 | €3,634,804 | +€707,292 | +24.2% |
| Goods purchased for resale | 34 | €2,927,512 | - | -€2.9m | |
| Amounts receivable within one year | 40/41 | €2,725,027 | €2,364,305 | -€360,723 | -13.2% |
| Trade receivables | 40 | €2,378,545 | €2,181,090 | -€197,455 | -8.3% |
| Other amounts receivable | 41 | €346,482 | €183,214 | -€163,268 | -47.1% |
| Cash at bank and in hand | 54/58 | €274,874 | €902,483 | +€627,609 | +228.3% |
| Total equity and liabilities | 10/49 | €7,819,381 | €8,861,554 | +€1.0m | +13.3% |
| Equity | 10/15 | €5,219,670 | €7,478,583 | +€2.3m | +43.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €5,201,070 | €7,459,983 | +€2.3m | +43.4% |
| Distributable reserves | 133 | €5,201,070 | €7,459,983 | +€2.3m | +43.4% |
| Amounts payable | 17/49 | €2,599,711 | €1,382,971 | -€1.2m | -46.8% |
| Amounts payable after more than one year | 17 | €479,832 | - | -€479,832 | |
| Financial debts | 170/4 | €102,393 | - | -€102,393 | |
| Credit institutions | 173 | €102,393 | - | -€102,393 | |
| Other amounts payable | 178/9 | €377,439 | - | -€377,439 | |
| Amounts payable within one year | 42/48 | €2,119,879 | €1,382,971 | -€736,908 | -34.8% |
| Current portion of amounts payable after more than one year | 42 | €101,182 | €102,393 | +€1,211 | +1.2% |
| Trade debts | 44 | €1,700,759 | €931,014 | -€769,745 | -45.3% |
| Suppliers | 440/4 | €1,700,759 | €931,014 | -€769,745 | -45.3% |
| Taxes, remuneration and social security | 45 | €317,937 | €349,563 | +€31,626 | +9.9% |
| Taxes | 450/3 | €269,100 | €296,090 | +€26,990 | +10.0% |
| Remuneration and social security | 454/9 | €48,837 | €53,473 | +€4,636 | +9.5% |
| Operating income | 70/76A | €15,042,573 | - | -€15.0m | |
| Turnover | 70 | €15,001,175 | - | -€15.0m | |
| Other operating income | 74 | €41,398 | - | -€41,398 | |
| Non-recurring operating income | 76A | - | €11,107 | +€11,107 | |
| Operating charges | 60/66A | €12,901,900 | - | -€12.9m | |
| Goods for resale, raw materials and consumables | 60 | €9,260,815 | - | -€9.3m | |
| Purchases | 600/8 | €9,642,849 | - | -€9.6m | |
| Change in stocks: decrease (increase) | 609 | -€382,034 | - | +€382,034 | |
| Services and other goods | 61 | €2,425,523 | - | -€2.4m | |
| Remuneration, social security and pensions | 62 | €463,655 | €503,361 | +€39,706 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €716,019 | €821,008 | +€104,989 | +14.7% |
| Other operating charges | 640/8 | €35,889 | €26,759 | -€9,130 | -25.4% |
| Gross operating margin | 9900 | - | €4,292,857 | +€4.3m | |
| Operating profit (loss) | 9901 | €2,140,672 | €2,941,729 | +€801,056 | +37.4% |
| Financial income | 75/76B | €11,774 | €65,915 | +€54,141 | +459.8% |
| Recurring financial income | 75 | €11,774 | €65,915 | +€54,141 | +459.8% |
| Income from financial fixed assets | 750 | €0 | - | = | |
| Income from current assets | 751 | €0 | - | = | |
| Other financial income | 752/9 | €11,774 | - | -€11,774 | |
| Financial charges | 65/66B | €31,987 | €23,294 | -€8,693 | -27.2% |
| Recurring financial charges | 65 | €31,987 | €23,294 | -€8,693 | -27.2% |
| Debt charges | 650 | €18,583 | - | -€18,583 | |
| Other financial charges | 652/9 | €13,404 | - | -€13,404 | |
| Profit (loss) for the period before taxes | 9903 | €2,120,459 | €2,984,350 | +€863,890 | +40.7% |
| Income taxes | 67/77 | €532,634 | €725,437 | +€192,803 | +36.2% |
| Taxes | 670/3 | €532,634 | - | -€532,634 | |
| Profit (loss) for the period | 9904 | €1,587,825 | €2,258,913 | +€671,088 | +42.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,587,825 | €2,258,913 | +€671,088 | +42.3% |
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 10 October 2026 via checked.be.