C.M.C.F.: 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.M.C.F.
Largest movements
- Cash +€62,199
up €62,199 (+14.9%), from €417,486 to €479,685
mainly Net result for the year (+€52,581) and Depreciation (+€13,944)
- Tangible fixed assets -€13,264
down €13,264 (-32.8%), from €40,396 to €27,133
of which Other tangible fixed assets: -€12,722
- Reserves +€52,581
up €52,581 (+11.7%), from €448,459 to €501,041
of which Distributable reserves: +€52,581
- Other debts -€9,297
no longer reported in 2025 (was €9,297)
- Gross operating margin -€4,261
down €4,261 (-4.7%), from €90,949 to €86,688
- Depreciation -€2,383
down €2,383 (-14.6%), from €16,328 to €13,944
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 | €632,593 | €675,437 | +€42,844 | +6.8% |
| Fixed assets | 21/28 | €43,396 | €30,133 | -€13,264 | -30.6% |
| Tangible fixed assets | 22/27 | €40,396 | €27,133 | -€13,264 | -32.8% |
| Plant, machinery and equipment | 23 | €3,344 | €2,802 | -€542 | -16.2% |
| Other tangible fixed assets | 26 | €37,052 | €24,330 | -€12,722 | -34.3% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €589,197 | €645,304 | +€56,108 | +9.5% |
| Amounts receivable after more than one year | 29 | €150,000 | €150,000 | = | 0.0% |
| Trade receivables | 290 | - | €150,000 | +€150,000 | |
| Other amounts receivable | 291 | €150,000 | - | -€150,000 | |
| Amounts receivable within one year | 40/41 | €9,384 | €3,193 | -€6,190 | -66.0% |
| Other amounts receivable | 41 | €9,384 | €3,193 | -€6,190 | -66.0% |
| Current investments | 50/53 | €10,216 | €10,216 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €417,486 | €479,685 | +€62,199 | +14.9% |
| Deferred charges and accrued income | 490/1 | €2,111 | €2,210 | +€99 | +4.7% |
| Total equity and liabilities | 10/49 | €632,593 | €675,437 | +€42,844 | +6.8% |
| Equity | 10/15 | €597,259 | €649,841 | +€52,581 | +8.8% |
| Contributions | 10/11 | €148,800 | €148,800 | = | 0.0% |
| Contributions outside capital | 11 | €148,800 | €148,800 | = | 0.0% |
| Other | 1109/19 | €148,800 | €148,800 | = | 0.0% |
| Reserves | 13 | €448,459 | €501,041 | +€52,581 | +11.7% |
| Non-distributable reserves | 130/1 | €14,880 | €14,880 | = | 0.0% |
| Legal reserve | 130 | €14,880 | €14,880 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,433 | €1,433 | = | 0.0% |
| Distributable reserves | 133 | €432,147 | €484,728 | +€52,581 | +12.2% |
| Amounts payable | 17/49 | €35,334 | €25,597 | -€9,737 | -27.6% |
| Amounts payable within one year | 42/48 | €15,165 | €6,278 | -€8,887 | -58.6% |
| Trade debts | 44 | €445 | €597 | +€152 | +34.2% |
| Suppliers | 440/4 | €445 | €597 | +€152 | +34.2% |
| Taxes, remuneration and social security | 45 | €5,422 | €5,681 | +€258 | +4.8% |
| Taxes | 450/3 | €5,422 | €5,681 | +€258 | +4.8% |
| Other amounts payable | 47/48 | €9,297 | - | -€9,297 | |
| Accrued charges and deferred income | 492/3 | €20,169 | €19,319 | -€850 | -4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,328 | €13,944 | -€2,383 | -14.6% |
| Other operating charges | 640/8 | €103 | €117 | +€15 | +14.4% |
| Gross operating margin | 9900 | €90,949 | €86,688 | -€4,261 | -4.7% |
| Operating profit (loss) | 9901 | €74,519 | €72,627 | -€1,892 | -2.5% |
| Financial income | 75/76B | €7,298 | €7,029 | -€269 | -3.7% |
| Recurring financial income | 75 | €7,298 | €7,029 | -€269 | -3.7% |
| Financial charges | 65/66B | €703 | €564 | -€139 | -19.8% |
| Recurring financial charges | 65 | €703 | €564 | -€139 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | €81,115 | €79,092 | -€2,022 | -2.5% |
| Income taxes | 67/77 | €26,891 | €26,511 | -€379 | -1.4% |
| Profit (loss) for the period | 9904 | €54,224 | €52,581 | -€1,643 | -3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,224 | €52,581 | -€1,643 | -3.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.