C.J.M.: 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.J.M.
Largest movements
- Tangible fixed assets +€203,857
up €203,857 (+8,658%), from €2,355 to €206,212
of which Land and buildings: +€204,760
- Cash -€46,022
down €46,022 (-73.4%), from €62,738 to €16,716
mainly Investment in fixed assets (net) (-€256,526) and Other debts (-€25,794)
- Receivables within one year +€9,608
up €9,608 (+33.4%), from €28,800 to €38,408
of which Other amounts receivable: +€5,908
- Debts after one year +€168,309
new in 2025: €168,309
- Current portion of long-term debt +€31,691
new in 2025: €31,691
- Other debts -€25,794
down €25,794 (-52.4%), from €49,228 to €23,434
- Tax, wage and social debts -€11,691
down €11,691 (-57.9%), from €20,201 to €8,511
- Trade debts +€4,928
up €4,928 (+84.0%), from €5,864 to €10,791
- Depreciation +€39,766
up €39,766 (+308%), from €12,903 to €52,669
- Taxes -€8,570
down €8,570 (-58.5%), from €14,662 to €6,092
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 | €93,893 | €261,335 | +€167,443 | +178% |
| Fixed assets | 21/28 | €2,355 | €206,212 | +€203,857 | +8,658% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €2,355 | €206,212 | +€203,857 | +8,658% |
| Land and buildings | 22 | - | €204,760 | +€204,760 | |
| Furniture and vehicles | 24 | €2,355 | €1,452 | -€903 | -38.3% |
| Current assets | 29/58 | €91,538 | €55,124 | -€36,414 | -39.8% |
| Amounts receivable within one year | 40/41 | €28,800 | €38,408 | +€9,608 | +33.4% |
| Trade receivables | 40 | €28,800 | €32,500 | +€3,700 | +12.8% |
| Other amounts receivable | 41 | €0 | €5,908 | +€5,908 | |
| Cash at bank and in hand | 54/58 | €62,738 | €16,716 | -€46,022 | -73.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €93,893 | €261,335 | +€167,443 | +178% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €75,293 | €242,735 | +€167,443 | +222% |
| Amounts payable after more than one year | 17 | - | €168,309 | +€168,309 | |
| Financial debts | 170/4 | - | €168,309 | +€168,309 | |
| Amounts payable within one year | 42/48 | €75,293 | €74,426 | -€866 | -1.2% |
| Current portion of amounts payable after more than one year | 42 | - | €31,691 | +€31,691 | |
| Trade debts | 44 | €5,864 | €10,791 | +€4,928 | +84.0% |
| Suppliers | 440/4 | €5,864 | €10,791 | +€4,928 | +84.0% |
| Taxes, remuneration and social security | 45 | €20,201 | €8,511 | -€11,691 | -57.9% |
| Taxes | 450/3 | €20,201 | €8,511 | -€11,691 | -57.9% |
| Other amounts payable | 47/48 | €49,228 | €23,434 | -€25,794 | -52.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,903 | €52,669 | +€39,766 | +308% |
| Other operating charges | 640/8 | €851 | €758 | -€93 | -10.9% |
| Gross operating margin | 9900 | €78,414 | €77,922 | -€492 | -0.6% |
| Operating profit (loss) | 9901 | €64,660 | €24,495 | -€40,165 | -62.1% |
| Financial income | 75/76B | €0 | €1 | +€1 | +2,900% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +2,900% |
| Financial charges | 65/66B | €500 | €90 | -€411 | -82.1% |
| Recurring financial charges | 65 | €500 | €90 | -€411 | -82.1% |
| Profit (loss) for the period before taxes | 9903 | €64,160 | €24,406 | -€39,754 | -62.0% |
| Income taxes | 67/77 | €14,662 | €6,092 | -€8,570 | -58.5% |
| Profit (loss) for the period | 9904 | €49,498 | €18,314 | -€31,184 | -63.0% |
| Profit (loss) for the period to be appropriated | 9905 | €49,498 | €18,314 | -€31,184 | -63.0% |
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 14 October 2026 via checked.be.