c.d.m.l.: 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.
c.d.m.l.
Largest movements
- Current investments -€99,724
down €99,724 (-97.6%), from €102,185 to €2,460
- Cash -€91,554
down €91,554 (-52.4%), from €174,620 to €83,066
mainly Other debts (-€230,493) and Receivables within one year (-€28,125)
- Receivables within one year +€28,125
up €28,125 (+13.6%), from €206,811 to €234,935
of which Trade receivables: +€29,845
- Other debts -€230,493
down €230,493 (-98.7%), from €233,529 to €3,036
- Reserves +€45,395
up €45,395 (+11.6%), from €392,401 to €437,795
of which Distributable reserves: +€45,395
- Trade debts +€22,928
up €22,928 (+440%), from €5,210 to €28,138
- Debts after one year -€22,214
down €22,214 (-13.7%), from €161,830 to €139,616
of which Financial debts: -€22,214
- Gross operating margin -€122,039
down €122,039 (-55.4%), from €220,144 to €98,104
- Financial charges -€51,516
down €51,516 (-85.9%), from €59,994 to €8,478
of which Non-recurring financial charges: -€49,950
- Taxes -€37,773
down €37,773 (-60.5%), from €62,481 to €24,709
- Depreciation -€4,262
down €4,262 (-21.4%), from €19,927 to €15,665
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.
Derived cash bridge
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,262,307 | €1,073,177 | -€189,130 | -15.0% |
| Fixed assets | 21/28 | €767,800 | €750,192 | -€17,609 | -2.3% |
| Tangible fixed assets | 22/27 | €251,134 | €238,525 | -€12,609 | -5.0% |
| Land and buildings | 22 | €242,004 | €229,898 | -€12,107 | -5.0% |
| Plant, machinery and equipment | 23 | - | €2,599 | +€2,599 | |
| Furniture and vehicles | 24 | €9,129 | €6,028 | -€3,101 | -34.0% |
| Financial fixed assets | 28 | €516,667 | €511,667 | -€5,000 | -1.0% |
| Current assets | 29/58 | €494,507 | €322,986 | -€171,521 | -34.7% |
| Amounts receivable within one year | 40/41 | €206,811 | €234,935 | +€28,125 | +13.6% |
| Trade receivables | 40 | €70,840 | €100,686 | +€29,845 | +42.1% |
| Other amounts receivable | 41 | €135,970 | €134,250 | -€1,721 | -1.3% |
| Current investments | 50/53 | €102,185 | €2,460 | -€99,724 | -97.6% |
| Cash at bank and in hand | 54/58 | €174,620 | €83,066 | -€91,554 | -52.4% |
| Deferred charges and accrued income | 490/1 | €10,892 | €2,524 | -€8,367 | -76.8% |
| Total equity and liabilities | 10/49 | €1,262,307 | €1,073,177 | -€189,130 | -15.0% |
| Equity | 10/15 | €823,184 | €868,579 | +€45,395 | +5.5% |
| Contributions | 10/11 | €429,400 | €429,400 | = | 0.0% |
| Reserves | 13 | €392,401 | €437,795 | +€45,395 | +11.6% |
| Non-distributable reserves | 130/1 | €22,384 | €22,384 | = | 0.0% |
| Reserves not available under the articles | 1311 | €22,384 | €22,384 | = | 0.0% |
| Distributable reserves | 133 | €370,017 | €415,412 | +€45,395 | +12.3% |
| Profit (loss) carried forward | 14 | €1,384 | €1,384 | = | 0.0% |
| Amounts payable | 17/49 | €439,123 | €204,599 | -€234,524 | -53.4% |
| Amounts payable after more than one year | 17 | €161,830 | €139,616 | -€22,214 | -13.7% |
| Financial debts | 170/4 | €159,830 | €137,616 | -€22,214 | -13.9% |
| Other amounts payable | 178/9 | €2,000 | €2,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €277,292 | €64,982 | -€212,310 | -76.6% |
| Current portion of amounts payable after more than one year | 42 | €21,618 | €22,214 | +€596 | +2.8% |
| Trade debts | 44 | €5,210 | €28,138 | +€22,928 | +440% |
| Suppliers | 440/4 | €5,210 | €28,138 | +€22,928 | +440% |
| Taxes, remuneration and social security | 45 | €16,936 | €11,595 | -€5,341 | -31.5% |
| Taxes | 450/3 | €16,936 | €11,595 | -€5,341 | -31.5% |
| Other amounts payable | 47/48 | €233,529 | €3,036 | -€230,493 | -98.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,927 | €15,665 | -€4,262 | -21.4% |
| Other operating charges | 640/8 | €3,832 | €4,136 | +€304 | +7.9% |
| Gross operating margin | 9900 | €220,144 | €98,104 | -€122,039 | -55.4% |
| Operating profit (loss) | 9901 | €196,384 | €78,303 | -€118,081 | -60.1% |
| Financial income | 75/76B | €467 | €278 | -€189 | -40.4% |
| Recurring financial income | 75 | €467 | €278 | -€189 | -40.4% |
| Financial charges | 65/66B | €59,994 | €8,478 | -€51,516 | -85.9% |
| Recurring financial charges | 65 | €10,044 | €8,478 | -€1,566 | -15.6% |
| Non-recurring financial charges | 66B | €49,950 | - | -€49,950 | |
| Profit (loss) for the period before taxes | 9903 | €136,857 | €70,103 | -€66,753 | -48.8% |
| Income taxes | 67/77 | €62,481 | €24,709 | -€37,773 | -60.5% |
| Profit (loss) for the period | 9904 | €74,375 | €45,395 | -€28,981 | -39.0% |
| Profit (loss) for the period to be appropriated | 9905 | €74,375 | €45,395 | -€28,981 | -39.0% |
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 27 October 2026 via checked.be.