CG: what changed
CG
Largest movements
- Receivables within one year -€10,006
down €10,006 (-29.3%), from €34,111 to €24,105
of which Trade receivables: -€10,344
- Tangible fixed assets +€3,797
up €3,797 (+260%), from €1,463 to €5,260
of which Other tangible fixed assets: +€4,356
- Cash -€2,600
down €2,600 (-69.0%), from €3,767 to €1,167
mainly Trade debts (-€32,253) and Current portion of long-term debt (-€5,145)
- Intangible fixed assets -€1,500
down €1,500 (-33.3%), from €4,500 to €3,000
- Deferred charges and accrued income -€603
down €603 (-100%), from €603 to €0
- Trade debts -€32,253
down €32,253 (-94.5%), from €34,142 to €1,889
- Advances received +€20,896
new in 2025: €20,896
- Contributions +€12,400
up €12,400 (+200%), from €6,200 to €18,600
- Current portion of long-term debt -€5,145
down €5,145 (-100%), from €5,145 to €0
- Profit (loss) carried forward -€4,137
down €4,137 (-9.2%), from -€45,181 to -€49,318
- Gross operating margin -€43,029
down €43,029 (-63.2%), from €68,093 to €25,064
- Staff costs -€19,797
down €19,797 (-45.8%), from €43,204 to €23,406
- Taxes -€4,718
down €4,718 (-100%), from €4,718 to €0
- Financial charges -€1,439
down €1,439 (-34.6%), from €4,154 to €2,716
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 | €47,146 | €36,613 | -€10,533 | -22.3% |
| Fixed assets | 21/28 | €7,409 | €9,706 | +€2,297 | +31.0% |
| Intangible fixed assets | 21 | €4,500 | €3,000 | -€1,500 | -33.3% |
| Tangible fixed assets | 22/27 | €1,463 | €5,260 | +€3,797 | +260% |
| Plant, machinery and equipment | 23 | €1,463 | €904 | -€559 | -38.2% |
| Other tangible fixed assets | 26 | - | €4,356 | +€4,356 | |
| Financial fixed assets | 28 | €1,446 | €1,446 | = | 0.0% |
| Current assets | 29/58 | €39,737 | €26,907 | -€12,830 | -32.3% |
| Stocks and contracts in progress | 3 | €1,256 | €1,635 | +€379 | +30.1% |
| Stocks | 30/36 | €1,256 | €1,635 | +€379 | +30.1% |
| Amounts receivable within one year | 40/41 | €34,111 | €24,105 | -€10,006 | -29.3% |
| Trade receivables | 40 | €30,058 | €19,714 | -€10,344 | -34.4% |
| Other amounts receivable | 41 | €4,053 | €4,392 | +€339 | +8.4% |
| Cash at bank and in hand | 54/58 | €3,767 | €1,167 | -€2,600 | -69.0% |
| Deferred charges and accrued income | 490/1 | €603 | €0 | -€603 | -100% |
| Total equity and liabilities | 10/49 | €47,146 | €36,613 | -€10,533 | -22.3% |
| Equity | 10/15 | -€38,981 | -€30,718 | +€8,263 | +21.2% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200% |
| Profit (loss) carried forward | 14 | -€45,181 | -€49,318 | -€4,137 | -9.2% |
| Provisions and deferred taxes | 16 | €25,000 | €25,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €25,000 | €25,000 | = | 0.0% |
| Environmental obligations | 163 | €25,000 | - | -€25,000 | |
| Other liabilities and charges | 164/5 | - | €25,000 | +€25,000 | |
| Amounts payable | 17/49 | €61,127 | €42,332 | -€18,795 | -30.7% |
| Amounts payable within one year | 42/48 | €61,127 | €42,332 | -€18,795 | -30.7% |
| Current portion of amounts payable after more than one year | 42 | €5,145 | €0 | -€5,145 | -100% |
| Financial debts | 43 | €5,318 | €6,746 | +€1,427 | +26.8% |
| Credit institutions | 430/8 | €5,318 | €6,746 | +€1,427 | +26.8% |
| Trade debts | 44 | €34,142 | €1,889 | -€32,253 | -94.5% |
| Suppliers | 440/4 | €34,142 | €1,889 | -€32,253 | -94.5% |
| Advances received on contracts in progress | 46 | - | €20,896 | +€20,896 | |
| Taxes, remuneration and social security | 45 | €9,316 | €8,768 | -€548 | -5.9% |
| Taxes | 450/3 | €5,177 | €4,284 | -€893 | -17.2% |
| Remuneration and social security | 454/9 | €4,139 | €4,483 | +€345 | +8.3% |
| Other amounts payable | 47/48 | €7,205 | €4,033 | -€3,172 | -44.0% |
| Remuneration, social security and pensions | 62 | €43,204 | €23,406 | -€19,797 | -45.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,903 | €2,127 | +€224 | +11.8% |
| Other operating charges | 640/8 | €1,076 | €986 | -€90 | -8.4% |
| Gross operating margin | 9900 | €68,093 | €25,064 | -€43,029 | -63.2% |
| Operating profit (loss) | 9901 | €21,910 | -€1,455 | -€23,365 | |
| Financial income | 75/76B | €92 | €34 | -€59 | -63.5% |
| Recurring financial income | 75 | €92 | €34 | -€59 | -63.5% |
| Financial charges | 65/66B | €4,154 | €2,716 | -€1,439 | -34.6% |
| Recurring financial charges | 65 | €4,154 | €2,716 | -€1,439 | -34.6% |
| Profit (loss) for the period before taxes | 9903 | €17,848 | -€4,137 | -€21,985 | |
| Income taxes | 67/77 | €4,718 | €0 | -€4,718 | -100% |
| Profit (loss) for the period | 9904 | €13,129 | -€4,137 | -€17,266 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,129 | -€4,137 | -€17,266 |
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 5 November 2026 via checked.be.