C.G.M.: what changed
Two fiscal 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.G.M.
Largest movements
- Cash -€1,652
down €1,652 (-83.9%), from €1,968 to €316
mainly Trade debts (-€1,449) and Other debts (-€955)
- Trade debts -€1,449
no longer reported in 2025 (was €1,449)
- Other debts -€955
down €955 (-2.9%), from €33,142 to €32,187
- Gross operating margin +€576
up €576 (+17.9%), from €3,210 to €3,786
- Other operating charges +€72
up €72 (+2.6%), from €2,734 to €2,806
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €53,568 | €51,705 | -€1,864 | -3.5% |
| Fixed assets | 21/28 | €51,601 | €51,388 | -€212 | -0.4% |
| Tangible fixed assets | 22/27 | €51,601 | €51,388 | -€212 | -0.4% |
| Land and buildings | 22 | €50,751 | €50,751 | = | 0.0% |
| Plant, machinery and equipment | 23 | €849 | €637 | -€212 | -25.0% |
| Current assets | 29/58 | €1,968 | €316 | -€1,652 | -83.9% |
| Cash at bank and in hand | 54/58 | €1,968 | €316 | -€1,652 | -83.9% |
| Total equity and liabilities | 10/49 | €53,568 | €51,705 | -€1,864 | -3.5% |
| Equity | 10/15 | €18,591 | €19,118 | +€527 | +2.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €18,565 | €18,565 | = | 0.0% |
| Reserves | 13 | €12,006 | €12,006 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Distributable reserves | 133 | €8,908 | €8,908 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€73,981 | -€73,454 | +€527 | +0.7% |
| Amounts payable | 17/49 | €34,978 | €32,587 | -€2,391 | -6.8% |
| Amounts payable within one year | 42/48 | €34,590 | €32,187 | -€2,403 | -6.9% |
| Trade debts | 44 | €1,449 | - | -€1,449 | |
| Suppliers | 440/4 | €1,449 | - | -€1,449 | |
| Other amounts payable | 47/48 | €33,142 | €32,187 | -€955 | -2.9% |
| Accrued charges and deferred income | 492/3 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €212 | €212 | = | 0.0% |
| Other operating charges | 640/8 | €2,734 | €2,806 | +€72 | +2.6% |
| Gross operating margin | 9900 | €3,210 | €3,786 | +€576 | +17.9% |
| Operating profit (loss) | 9901 | €263 | €767 | +€504 | +191.4% |
| Financial charges | 65/66B | €206 | €240 | +€34 | +16.3% |
| Recurring financial charges | 65 | €206 | €240 | +€34 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | €57 | €527 | +€470 | +822.2% |
| Profit (loss) for the period | 9904 | €57 | €527 | +€470 | +822.2% |
| Profit (loss) for the period to be appropriated | 9905 | €57 | €527 | +€470 | +822.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.